Top 6 personal financial obstacles – Part III

Robert Kiyosaki in his book “Rich Dad, Poor Dad” listed 6 personal obstacles, which can block the financial success of even the most financially literate. In the previous 2 articles, I have talked about 2 of these personal obstacles.  They are Fear and Cynicism. In this article, I will cover the next 2 obstacles, which are Laziness and Bad Habits. Laziness Who are the laziest people in the world?  Busy People! Robert Kiyosaki proclaimed that busy people are often the…

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Top 6 personal financial obstacles – Part II

In the previous article, I listed the top 6 personal obstacles quoted by Robert Kiyosaki, which can potentially prevent even the most financially literate from reaching their success goal. They are: 1. Fear 2. Cynicism 3. Laziness 4. Bad Habits 5. Arrogance 6. Disappointment I went on to talk about the first obstacle, Fear.  The fear of losing money and how the rich and the poor managed their fear differently.  I will continue with the next obstacle in this article….

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Top 6 personal financial obstacles – Part I

One of the key to riches is to be financially literate.  This was what the Rich Dad taught in Robert Kiyosaki’s “Rich Dad, Poor Dad”. Does wealth then come automatically once you became financially literate? Not necessarily and not certainly.  Robert Kiyosaki believes that despite attaining a certain level of financial literacy, personal obstacles can prevent even the most financially literate from attaining their financial goal.  These people will still continue to work a full time job, living from paycheck…

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Schools are doing their part….

The important of financial literacy highlighted in Robert Kiyosaki “Rich Dad, Poor Dad” has triggered the awareness that there is a lack of that knowledge.  Realizing that, some schools has started incorporating lessons to impart some basic money principles to the youngs. Randi Weiner of THE JOURNAL NEWS (www.thejournalnews.com) reports: BLAUVELT – Welcome to Louis Moretti’s fifth-grade class, where the 10-year-olds can tell you why owning a house is a liability and where they look down their noses at owning iPods because they’re permanent and unrecoverable losses…

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What does Cashflow Quadrant represents?

The Cashflow Quadrants was created by Robert Kiyosaki in “Rich Dad, Poor Dad” book, and later lead to the book called “Cashflow Quadrants”. Kiyosaki created the Cashflow Quadrant to help in figuring out where you are.  For if you do not know why you are, you will not know where you should be heading to.  The quadrants are represented by :  Employee Self-employed worker Business Owner Investor Where you belong in the quadrants is dependent on how your main source…

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No Rich Dad to teach me…

In “Rich Dad, Poor Dad”, Robert Kiyosaki has a rich dad to teach him about money and finance.  But for the rest of us, we might not have such a mentor.  Then where or who can we turn to?  One of the logical answer is schools!  Unfortunately, historically till now, financial literacy is not one of that which is taught in school.  However, the awareness of the need of financial knowledge to be taught as part of the education system has heightened, perhaps…

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Becoming Financially Literate

The key to riches is to become financially literate. That seems to one of the messages I got from Robert Kiyosaki’s “Rich Dad, Poor Dad”. Although financially literate does not automatically guarantee that you will be rich, the lack of financial knowledge does guarantee that you are unlikely to reach your financial success. Being financially literate will definitely help in making better judgment in your decision making, and thus enhance your chance and make the path to your finance success…

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Piggy Bank

It would never cross my mind that a piggy bank could possibly be the secret to getting rich.    Catherine Franz revealed how the piggy bank and your mind set could made the difference to your financial success.  Very Interesting indeed. I going out to get my piggy bank now!

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4 quadrants and a story

Robert Kiyosaki in his “Rich Dad, Poor Dad” book, classified people in 4 main quadrants based on how their main source of income is being generated.  The quadrants are known as the “Cashflow Quadrants” as depicted in the diagram below. And how well to illustrate the meaning of the cashflow quadrants than using a story which Robert Kiyosaki told here.   

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What is Financial Literacy?

This site defined Financial Literacy as the ability to make informed judgments and to make effective decisions regarding the use and management of money. However, some of the steps suggested are very limited to only managing of your expenses and saving the rest.  Personally, for me, financial literacy covers a bigger specrtrum than just money and expense management.  In fact, Robert Kiyosaki’s definition of finacial literacy includes fundamental understanding of accounting, taxes, economics and also business building skills.  

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