“I had a DEBT of $800,000 Dollars”. How to Pay off your Debts | Robert Kiyosaki | Big Money Investing Review
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do you know why people are poor why does the majority of the planet’s population have financial difficulties it seems that the answer is on the surface everyone who got rich had more opportunities more connections and acquaintances to create their financial success but in reality it is not like that at all the majority of people are born with the same opportunities and only a third of them use them correctly that third knew exactly what they had to do to get rich Robert kosaki believes that we cannot get rich because we are not properly educated this is why kosaki believes that people must urgently take responsibility for their financial education and start getting the right knowledge as early as possible in order to become financially successful today I am going to share this knowledge with you because it has been available for a long time in his book dedicated to financial education Robert kosaki reveals all the steps to increase your financial intelligence and eventually get rich this is the main channel on finance here you can find everything about Finance financial success so subscribe Robert kosaki devides Financial intelligence into five cornerstones the businessman claims that if each of them is developed proportionally monetary success will not keep you waiting the first part of financial intelligence is learning how to make more money it seems logical we go to work to get money but unfortunately that is not the point first of all you should not work to make money but to learn how to make much more money let me give you an example kiyosaki’s first job was deliberately chosen with a lower salary so that Robert could learn how to sell thanks to this experience he was later able to open his own company no book or Seminar can replace real experience in the field in practice a person learns much faster and more effectively choose the job that will give you more knowledge and experience for further realization not just a good salary at the end of the month in addition kosaki points out the importance of hardships to learn how to make more money Robert strongly recommends not giving up when you encounter challenges along the way because they are what allow you to learn how to solve problems and increase your financial intelligence fixed one problem move on to the next one by solving more difficult problems you gain valuable experience that allows you to increase your financial knowledge also solve other people’s money problems no this is not about lending money to your neighbor if you have the opportunity help a person solve financial difficulties with advice analysis of their current situation and so on kosaki is sure that this is one of the main secrets to increasing income this advice is supported by the fact that the more serious problems a company solves the more successful it becomes the same is true for an individual the more experience you gain by solving various problems even not your own the better you will be trained in how to make more money the second part of financial intelligence is knowing how to protect your finances kosaki says that the world is full of predators who want to take your money a person must learn how to give these Predators as little money as possible set a goal to pay less wherever possible kosaki gives some great examples for instance we are swindled by Banks promising 10% annual interest on your savings they give your money away as a loan at 20 or even 30% kosaki also includes Brokers and financial advisers as Predators these people often have no real experience in finance don’t realize that the rules of money have changed and give outdated and risky advice at high prices and there are dozens of other examples the main thing to do about it first don’t believe anyone unfortunately our world is built in such a way that most people just want to profit from our problems protect your money and use only experienced lawyers accountants and tax Specialists and perhaps most importantly learn to manage your finances yourself stop trusting fake experts to manage your money and learn all the financial issues yourself take your time learn at your own pace but then you will be sure that no one is is going to cheat you Financial IQ part three is about knowing how to manage your money now that you have protected your money and succeeded in earning much more than before you need to learn how to create a budget surplus in simple words the excess of income over expenses first of all you need to understand the most important truth it is impossible to have a surplus if you spend a lot of money Robert says that no matter how much a person earns it is important to first learn how to pay yourself and make ass set acquisition a priority savings and Investments are the most important but this can also include courses Sports subscriptions and charity kosaki believes that a person should enjoy life and even when things are difficult continue to maintain a certain level of it spend on assets and use the first element of financial intelligence to make even more money imagine that you have given up all benefits for the sake of wealth your morale motivation and any desire to achieve new things will be at zero it’s important to to maintain a fighting Spirit which is the essence of kiyosaki’s advice to maintain a certain standard of living but it should be in moderation in addition Robert recommends writing down your expenses the author Compares this information to a crystal ball it is very easy to predict the person’s financial future just by looking at their expenses a person who spends the most on assets investment savings Etc will inevitably get richer on the other hand a person who spends the most on consumer goods and other material Goods will end up with nothing control your expenses analyze their status and make adjustments when you realize that you have taken a wrong turn in addition Robert Kiyosaki suggests that you remember another truth forever your assets should pay for your liabilities as I mentioned earlier the businessman believes that everyone should enjoy their life but here it is important to determine who will pay for it for example you have decided to buy a nice car for yourself calculate its cost then add the monthly maintenance now now the most important thing is that before you buy a car you must make it an asset of yours to pay for it that is you need to find something that will generate enough money to cover your car expenses for example a rental property can do this the key idea is that you don’t just spend money to buy Goods that satisfy you you first create a new source of income use all your previously learned knowledge of the first and second parts of financial intelligence and eventually come out on the plus side and acquire the desired material Goods and if you’re facing financial difficulties then it’s time to spend even more money surprising advice isn’t it here’s how Robert kosaki explains it usually when a business is in financial trouble they desperately start cutting back on spending when in fact they need to increase their marketing and advertising spending to revive sales the same is true for a person if you are in financial trouble you should increase your spending on assets those things that generate income or perhaps take on what is known as good debt this term refers to borrowing money to buy assets kosaki always pointed out the positive aspects of good debt and along with analyzing and recording your expenses the ability to acquire assets even to pay for liabilities will 100% develop the third element of financial intelligence the fourth part of financial IQ is about what everyone needs to do to make money it will be about investing Robert kosaki says that investing plays a key role in the strategy for achieving Financial Independence he cautions against limiting yourself to traditional Investments such as savings accounts or bonds and instead suggests looking at other types of Investments real estate for example kosaki places great emphasis on investing in this area he believes that investing in real estate can provide a steady passive income in the form of rent payments and appreciation of square footage over time the next option is Securities various financial instruments such as stocks can help build a portfolio that generates income and grows over time one other type is business Investments kosaki supports the idea of starting your own business or investing in business ventures he believes that entrepreneurship can be one of the most powerful ways to create wealth Robert emphasizes that investing requires learning and recommends that readers deepen their knowledge of financial markets and investment strategies by understanding this area in more detail you will be able to boost the fourth element of financial intelligence you’re almost there remember each fragment is incredibly important and cannot exist without the other in the end you will be waiting for an additional secret key to wealth that is used by all billionaires but for now let us move on to the fifth piece of financial intelligence it should consist of knowing how to properly manage the information Available to You kosaki remembers his younger years in Vietnam when he was in the Army part of his job was to collect and process top secret information it was then that Robert realized its importance and he realized even more the importance of knowing how to handle it if you ever analyze information correctly and understand its Essence it will be your greatest asset says kosaki we are living in the age of information information equals wealth the main advantage of the modern age is that information is now valuable accessible free and there is more than enough of it the main flaw however is that information is valuable accessible free and there is more than enough of it in other words too much information kills information and to know how to use it properly you must develop your fifth element of Financial intelligence to deal with information overload you must first learn how to categorize data ask yourself questions as is the information relevant is it reliable what is the source of the information you are receiving is it valuable can the information be compared with other information this allows us to see Trends is it fact or opinion a fact is something that can be verified while an opinion is just an idea that is not guaranteed to be useful kosaki recommends making decisions based on hard facts following the advice of a financial professional and investing your money in a diversified portfolio of mutual funds is a typical example of a poor financial decision based solely on opinion with the ability to analyze information you can identify cycles and Trends and anticipate Market ups and downs 90 days to riches the most important thing is the evaluation system you have to see your results States Kiyosaki Robert Drew attention to the fact that you should not afraid to use new techniques to achieve wealth in particular he notes a system called 90 days you will have the ability to correctly assess your progress you will understand how far you are from your desired goals States kosaki the essence of the methodology is very simple at the end of each trimester ask yourself the following questions what have I accomplished in the last 3 months what makes me more confident what five new goals will I set for the next 90 days come up with a few more individual question questions about your money goals at the end of each period of intense work it’s helpful to take a mini vacation time when you can watch TV all day eat good food and do nothing while thinking about new goals such practice helps to rest after hard work and reboot your brain before the next 90 days of work here it is important to pull yourself together and not let procrastination consume you completely allow yourself only a couple of days off no more such careful progress tracking allows you to clearly see your achievements unfortunately Ely many people don’t even remember what they ate for lunch 3 days ago let alone the last 90 days it turns out they just don’t see their victories get frustrated and eventually give up we remember every failure in all the colors and experience it very painfully that’s our psychology if all our achievements are in front of our eyes we will always be inspired and filled with Vitality says kosaki Shifting the focus from spending to investing Robert kosaki is considered one of the best invest investors in the world he has repeatedly stated that the rich don’t work for money money works for them this is the main rule of the future millionaire kosaki is sure that Investments are the future once again he urges people to pay attention to various options the real estate market modern tools in the form of cryptocurrencies stocks bonds and so on everything can be your key to success Investments are a bright future for you and your children think about how and where you can invest your savings rather than just spending it on your own sometimes on a whim but shifting your focus isn’t just about the investing process kosaki emphasizes it’s important not to forget about financial literacy understand exactly where your money goes and why proper control of personal finances is a major weapon in the fight against poverty asserts Kiyosaki focus on results not habits or processes in a polite conversation most will say they admire successful people for their hard work positive habits and Ironclad principles that’s not true the only thing most people really care about is the fortune in their account everything else is hype States Kiyosaki if you think about the statement you will realize that it is indeed true it’s the results not the process that counts it’s not the effort that counts but it’s material equivalent of course they say that results don’t matter but it’s complete nonsense make these people lose what they have already achieved and stay on the street they will instantly change their minds we admire billionaires not for their personal quality these but for their accomplishments it’s their billions that have made them popular it’s their mentions that make us set the same goals and dream at night you decided to become a millionaire because you probably dream of a big house and an expensive car and that’s not a bad thing it is the goal that defines the process not the other way around moreover the results also determine the process if you’re not getting what you want you need to adjust your process differently don’t do the same thing over and over again expecting different results is crazy a goal is a means to growth and progress when we set ourselves more and more goals we grow States Robert look for ways to improve yourself or your business constantly think about how to double your income calculate your daily value and think about how to increase that number says kosaki if you make $100 a day try doubling it what do you do to improve your daily rate if you make 10 phone calls a day double the number to 20 if you’re babysitting one child find a way to increase your results by opening your daycare to 50 Children of course it would be better to maintain or improve the quality of your work when you are engaged in these efforts always look for better ways to increase your income whether in business or at work if you have a paying job consider ways to generate passive income that will help strengthen your earnings Robert repeatedly says if you don’t have a plan to become rich then you have a plan to become poor this is a powerful truth because many people who think they are free in fact are not we are all living according to a plan every day we wake up in the morning at the time determined by the employer we take the same route to work and we have strictly Limited hours for our lunch break this style of Life imposed by the system is very beneficial for the government and business people kosaki believes that your brain is programmed to make other people rich in this way however you should consider that billionaires always move against the current trying to free their heads from Financial stereotypes by thinking other wise they attract Millions into their wallets and do not scatter money to please others the following tips from Robert kosaki will help you break the habits of poverty and are guaranteed to fill your life with wealth money loves attention for now this is the most straightforward and somewhat benale advice but it is the one that could save you from poverty after reading a few books on Personal Finance you will realize how important it is to make sure that your expenses do not exceed your income the best way to do this is to create a budget once you see how the cost of your morning coffee goes up over a month you’ll realize that small manageable changes to your day-to-day expenses can have just as significant an impact on your financial situation as a pay raise take the proven path how do you become rich if you have some skills of course monetize them and a lot of people are good at it in 90% of cases the problem is that people give up self-development believing their skills are enough or they are engaged in development in a narrow area Meanwhile your brain cannot stand still only if you pay attention to something will it develop all rich people are multi-functional their views and skills most often go beyond human understanding moreover neuroschistosomiasis minutes a day to develop something even if it is some kind of skill that fascinates you personally and you have not yet found a use for believe me one day you will need it anyway such exercises for the brain will prove themselves in other activities forget the words The Day After Tomorrow thumbs up if you like to put off most things for later because many people tend to live not only for tomorrow but the day after tomorrow they wonder how do I get rich but they never take action they are waiting for the circumstances to turn out well and for the right time to come this is a trick of the brain that does not want to change anything it wants to remain in a safe stability it’s the same comfort zone of course you shouldn’t just jump out of it to get into chronic stress just get started today make a list of plans think it over for at least 1 hour and honestly cross out what you are going to do for more than a year plan what actions depend only on you and make a calendar start working on success beginning today and move according to the action plan even though these are minor changes they will gradually grow like a snowball decide what brings you Joy Money Follows Joy but joy never follows the money it’s a delusion to think I will get rich now and I will live afterwards which leads people to the point where money does not bring happiness but if you do what you love and enjoy doing it will be much easier for you to make money a person who has many claims to life a job they hate and is in a destructive relationship creates a cage for themselves and at some point this cell captures all spheres of life including Financial ones when you begin to enjoy work surround yourself with people who Inspire and encourage you everything will be much easier to create without things like it’s necessary and you must in crises you will see opportunities and start things thinking outside the box cushions save lives one of Robert kiyosaki’s most frequently repeated personal finance mantras is pay yourself first no matter how much you owe in student loans or on a credit card and no matter how low your salary may seem it’s wise to find any amount of money in your budget to set aside every month in an emergency fund trust me such a financial cushion will save your life one day having savings to use for emergencies can keep you out of financial trouble and help you sleep better at night also get in the habit of putting money aside and treating it like a non-negotiable monthly expense you’ll soon have more than just emergency money saved up you’ll have your retirement money vacation pay or even down payment for the house it’s easy to deposit funds into a savings account but it has almost no interest and don’t be afraid to try and invest that like in a business or look for deposit like financial instruments otherwise inflation will will undermine the value of your savings key money wisdom poor people always work for money while rich people make money work for them is one of the primary quotes of Robert kosaki in his book Rich Dad Poor Dad it defined not only the difference between wealth and poverty but also the value of Freedom yes you have no control over the prices in the store but you can control your desire to make an extra purchase you cannot influence the economic situ situation in the world but you can always be prepared for the worst you are capable of changing your life and nothing in this world can stop you get rid of the system life and just take a step towards big money and that’s all I have it’s the main Channel about money subscribe and get richWelcome to Big Money Investing – Your Ultimate Destination for In The Money Facts!
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