<ul><li class="ql-align-justify">Learning basic accounting is important.</li><li class="ql-align-justify">Increasing income rather than expenses is a basic understanding of Assets & Liabilities.</li><li class="ql-align-justify">KISS (Keep It Simple, Stupid).</li><li class="ql-align-justify">Aware of your own cash flow. Your cash flow indicate your social strata.</li><li class="ql-align-justify">You should know why there is a saying that, "The rich get richer, the poor get poorer.</li><li class="ql-align-justify">"Rat Race." The higher the salary, the higher the taxes. DON'T GET CAUGHT IN IT.</li></ul>

Financial Literacy?

<ul><li class="ql-align-justify">Ten steps to awaken financial genius:</li></ul><ol><li class="ql-align-justify">Find a reason stronger than reality: The power of spirit</li><li class="ql-align-justify">Make daily choices: The power of choice.</li><li class="ql-align-justify">Choose friends carefully: The power of association.</li><li class="ql-align-justify">Master a formula, then learn a new one: The power of fast learning.</li><li class="ql-align-justify">Pay yourself first: The power of self-discipline.</li><li class="ql-align-justify">Pay your brokers well: The power of good advice.</li><li class="ql-align-justify">Be an Indian giver: The power of getting something for free.</li><li class="ql-align-justify">Use assets to buy luxuries: The power of focus.</li><li class="ql-align-justify">The need for heroes: The power of myths.</li><li class="ql-align-justify">Teach and you shall receive: The power of giving.</li></ol>

Getting Started

KISS (Keep It Simple, Stupid!)

This information just based on personal ideas. You can access the main source to get the entirety of the information.

<ul><li class="ql-align-justify">Stop doing what you’re doing (Evaluate).</li><li class="ql-align-justify">Look for new ideas, create your formula.</li><li class="ql-align-justify">Find someone who has already done what you</li></ul>

Still Want More?

“The rich focus on their asset columns, everyone else focuses on their income.”<ul><li class="ql-align-justify">Build a solid asset base; reduce expenses and liabilities.</li><li class="ql-align-justify">REAL ASSETS:</li></ul><ol><li class="ql-align-justify">Businesses that do not require personal presence.</li><li class="ql-align-justify">Stocks.</li><li class="ql-align-justify">Bonds.</li><li class="ql-align-justify">Income-generating real estate.</li><li class="ql-align-justify">Notes/Money markets.</li><li class="ql-align-justify">Royalties from intellectual properties such as music, scripts, and patents.</li><li class="ql-align-justify">Anything that has value, generates income, appreciates in value, and has a ready market.</li></ol>

Mind Your Own Business

<ul><li class="ql-align-justify">The importance of financial intelligence.</li><li class="ql-align-justify">You want to know a little about many things.</li><li class="ql-align-justify">Learn management & leadership.</li><li class="ql-align-justify">Start doing it, not just thinking it.</li><li class="ql-align-justify">Learn business systems (Sales & Marketing).</li><li class="ql-align-justify">Being a specialist might be bad.</li><li>Synergize professional specialization, uniting smart people to work as a team.</li><li class="ql-align-justify">Give & Receive. CHARITY.</li><li class="ql-align-justify">Key management skills needed:</li></ul><ol><li class="ql-align-justify">Cash flow management.</li><li class="ql-align-justify">System management.</li><li class="ql-align-justify">People management.</li></ol>

Work to Learn; Don’t Work for Money

<ul><li class="ql-align-justify">Understand how corporations work.</li><li class="ql-align-justify">Make money work for you.</li><li class="ql-align-justify">Pay yourself first.</li></ul>

The History of Taxes & Corporations

<ul><li class="ql-align-justify">We all have potential, but doubts hold us back.</li><li class="ql-align-justify">It’s not the smart ones who excel, but the bold ones.</li><li class="ql-align-justify">In the real world, what’s needed is bravery, guts, intelligence, skills, persistence, cunning, and dexterity.</li><li class="ql-align-justify">Many people only know how to: work hard, save, and borrow.</li><li class="ql-align-justify">Our strongest asset is our mind and time.</li><li class="ql-align-justify">Invest rather than save.</li><li class="ql-align-justify">Humans are designed to learn and we learn from mistakes.</li><li class="ql-align-justify">choice, so learn to manage risk rather than avoid it.</li></ul>

The Rich Invent Money

<ul><li class="ql-align-justify">Learning is not the same as talking/lecturing. The most valuable learning comes from experience.</li><li class="ql-align-justify">Change yourself instead of changing others.</li><li class="ql-align-justify">Money is just an illusion (a trap).</li><li class="ql-align-justify">Humans have two options within themselves: a weak, poor, and purchasable soul, or a strong, determined, and unpurchasable soul.</li></ul>	 	The soul refers to a person’s emotions and reactions. Fear and greed trigger emotional reactions that take over the mind. The mind should control emotions and reactions; simply observe your emotions, don’t react.

The Rich Don't Work For Money

<ul><li class="ql-align-justify">Don’t be afraid, take risks; most people play too safe.</li><li class="ql-align-justify">WIN BIG – LOSE SPECTACULARLY. Celebrate victories lavishly, welcome losses grandly.</li><li class="ql-align-justify">Don’t consider your failures as the end of your efforts.</li><li class="ql-align-justify">We often play the “what if” game. If doubt and caution still cloud your mind, you are no more than a coward. Don’t let yourself be paralyzed by worries and doubts.</li><li class="ql-align-justify">Overcome laziness with GREED.</li><li class="ql-align-justify">Pay yourself first, stay broke, and remain under pressure to work harder and open your mind to ways to increase assets.</li><li>Five things that hinder the asset column:</li></ul>Fear. Cynicism. Laziness. Bad habits. Arrogance.

Overcoming Obstacles

Key points each chapter about money based on Rich Dad, Poor Dad 

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

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Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing.

Financial Literacy?

Similar ideas to Financial Literacy?

Assets And Liabilities