Gaurav Kumar's Key Ideas from Rich Dad, Poor Dad
by Robert T. Kiyosaki

Society tells you to:

• Spend
• Show off
• Consume

Don't go broke trying to look rich.

Increase your income by:

• Getting a new job
• Starting a side hustle
• Negotiating for a raise

Give yourself a raise to fast-track your process.

Expenses can be categorized in 2 ways:

• Fixed
• Variable

Review your spending from the last 3 months.

Categorize expenses as:

• Needs
• Wants
• Wishes

Start reducing spending on wants and wishes.

Assign a purpose to every dollar.

Some examples:

• Business accounts
• Retirement accounts
• Emergency savings fund
• Joint / Individual accounts

Want to be like the pros? Automate the process.

63% of Americans cannot afford a $500 emergency.

That means the average American would have to resort to high-interest credit card debt to pay for surprise expenses.

Do your future self a favor and save 3 to 6 months' worth of living expenses.

Credit cards can be a double-edged sword.

• Use credit cards wisely, because they can DRAIN your wealth.
• If you use your credit card, only use it for convenience and NOT to buy things that you can’t actually afford.

Building a successful side hustle will take:

• Hard work
• Dedication
• Long nights

The reward will be:

• Fulfillment
• Freedom

• Time

  Start by learning a high-income skill.

Automation keeps your life simple.

Automate:

• Savings
• Investing in 401(k)s
• Investing in Roth IRAs

Out of sight, out of mind.

Never let an opportunity pass you by.

Don’t be afraid to:

• Take a new job
• Start a new business
• Negotiate for a higher pay

Opportunities multiply as they are seized ~ Sun Tzu

Everyone has strengths:

• Writing
• Managing
• Mathematics

Build on your strengths and create a career out of it.

That’s how you’ll make more money.

If you want to be the best, then you have to surround yourself with the best.

Curate a tight-knit circle of high-quality friends and mentors.

Quality over quantity.

It takes about 66 days for a new behavior to become an automatic habit.

Stick to a productive daily routine to build healthy financial habits.

When you build healthy financial habits, you will struggle less in life.

86% of millionaires are married - and 65% are still in their first marriage.

Find someone who is:

• Frugal
• Mindful about money
• Aligned with your financial goals

Find someone with a winning financial mindset.