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Joshua Zewu

A year ago

FINANCIAL LITERACY IS THE KEY TO YOUR FINANCIAL FREEDOM

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Finance

A year ago



SUMMARY OF THE BOOK 'RICH DAD POOR DAD' BY ROBERT KIYOSAKI





CHAPTER 1

1.Our thoughts affect our lives. I noticed from the book that the poor dad was poor not because of the amount of money he earned, which was significant, but because of his thoughts and actions   


2. Financial education is powerful. Money comes and goes, but if you have the education about how money works, you gain power over it.

3.we have to work on ourselves to see the change we want to see in our environment.

CHAPTER 2

Lesson one: The Rich Don't Work For Money

1.we must use our minds and emotions well for our favor.

2. Do not allow money to rule your life if you do you cant attain that height

3.history repeats itself, because we do not learn from history

4.We must learn to think in spite of being emotionally charged.

5.Accumulating asset is like planting a seed, you water it for years and then one day it doesn't need you anymore. Then the trees provides shade for your enjoyment.

CHAPTER 3

If people are prepared to be flexible, keep an open mind and learn, they will grow richer and More money does not solve problems but it is intelligence that solves problems and produces money.

CHAPTER 4

Lesson Three: Mind Your Own Business

1.Asset is any thing that brings money to your pocket and liability is anything that takes money out of your pocket.

2. Profession means working for someone and your business is the work you have establish with the purpose of making profit.

3.Start minding your own business. Keep your daytime job, but start buying real assets, not liabilities or personal effects that have no real value you get them home. example of assets are Stocks, Bonds, Mutual funds, income-generating real estate, Notes (lOUs).

7. Royalties from intellectual property such as music, scripts, patents.

8. And anything else that has value, produces income or appreciates and has a ready market.

CHAPTER 5.

financial IQ is made up of knowledge from four

broad areas of expertise.

No. 1 is accounting.

No. 2 is investing

No. 3 is understanding markets. The science of supply and demand

No. 4 is the law.( tax advantage and lawsuit)

CHAPTER 6

1.We must he courageous. If fear is too strong, the genius is

CHAPTER 7

1. You must be groomed.

2.keep on educating yourself

CHAPTER 8

To be financially independent you must do these,

1. One must overcome the fear of losing money.

2.we must not be lazy.

3.Avoid bad habit.

4.Avoid being ignorant

to develop your god given powers to make wealth,

1.You need a reason greater than reality.

2. You must choose daily.

3.Choose your friends careful.

4. be careful what you study an learn, because your mind is so powerful that you become what you put in your head.

5. You have to pay yourself first anytime you get money. You cannot be rich if you cannot control your expenses.

The three most important

management skills necessary to start your own business are:

1.Management of cash flow.

2.Management of people.

3.Management of personal time

4. You need to have heroes to inspire and motivate me.

CHAPTER 9

Do not allow doubt to override your decisions.

CHAPTER 10

1.Begin to take steps. Start to practice whatever you have learnt from this book.

2.We have to teach people, the more we teach the more knotw and get a lot of insight.

3.We have to take courses and buy tapes as well as books to grow financially.

follow me for more educative contents. thank you so much for perusing.

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Joshua Zewu

Content Writer | Peer Counsellor | Preacher | Crypto enthusiast

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