Reconsidering the Advice in 3 Popular Personal Finance Books
“With low interest rates, and an uncertain stock market, the old adages of saving and investing for the long term make no sense.”
It is what Kiyosaki recommends in his famous book, but saving and investing for the long term are exactly what most experts say you should do.
SIMILAR ARTICLES & IDEAS:
You don't have to sacrifice all of your free time to start a side hustle, use the time you’re comfortable with and make a little bit of progress every day.
Get to working on improving your finances today, not tomorrow. Reading the steps and thinking you’re capable of doing it but postponing it is just an excuse, an unprofitable one.
Talking about your financial goals, and scheduling time once a month to go over your finances together can prevent money from affecting your relationship.
"Rich Dad, Poor Dad" is a best-selling personal finance book, written by Robert T. Kiyosaki and Sharon L. Lechter.
It reads like an allegorical story about Robert Kiyosaki a...
The “Poor dad”, a stereotype for the regular salary man, believes that one should work for money as an employee at a stable job. This mentality can trap a person into working a job they don’t love, but is willing to stick with because they have to pay the bills.
The "Rich dad", an entrepreneur, thinks wealth comes from experience-based learning (learn on the job, by becoming an entrepreneur) and multiple income streams.
When the “poor dad” encourages working your way up the ladder, “rich dad” laughs and says, “Why not own the ladder?”
According to Kiyosaki in his book "Poor Dad, Rich Dad", rich people do certain things poor people don't:
While kids and teens get to learn about a lot of stuff, most families and schools do not teach them how to manage their money. In some families, it is considered a taboo subject and many friends a...
Most of us know how much we make, but we need to pay close attention to how much money is actually coming in post-tax, and how much is going out.
You can start by writing down your Starbucks, Uber, Amazon, and take-out expenses, along with your car insurance, utility bills, subscriptions and memberships. Slowly we can realize that many of these small expenses add up to huge figures.
By noting down all your expenses on pen and paper, or on the PC excel sheet, you can start to review and analyse your spendings on a weekly or monthly basis. This will make you find innovative ways to save money, catching hold of ‘runaway spending’ that went unnoticed before.
Example: You could find that the $5 Smoothie that you had every day, could cost much less if you made it at home.