People say “money makes the world go around”. In cases, that is true. Our world as we know it is controlled through consumerism and the need to want. Materialistic objects have become somewhat of an obsession and everyone wants something. The only problem is, the lack of money tends to put us between what we want and what we can afford.
In this short post, I will give you some pointers on how I view money and how I can work towards financial freedom, allowing myself to live my life to the fullest without the limit of funds holding me back!
I have always been curious on how I can put myself into a position to earn money at a high rate, but I always lacked the basic knowledge on how to get to that position. It wasn’t until I discovered a great book written by American businessman and author Robert Kiyosaki, that I had realised I was viewing finances the wrong way. The book “Rich Dad Poor Dad” taught me that the every day working class person trades time for money in the form of a 9 to 5 job. Whereas the successful CEO of a million dollar corporation makes money work for them through acquiring assets in the form of realestate, as an example.
Now, you may be wondering what I mean by an ‘asset’. An asset is something that appreciates over time, becoming more valuable as the economy rises. Realestate is a great example. Lets say an individual buys a house for investing purposes. What this person can do then is sit on this house until the market value increases. They would then sell it for a profit. They could also rent the house out for a few years, bringing in income through rental payments. These are ways an individual can make money work for them.
Another great way to make money earn more money for you is by opening up a high interest paying savings account. For example, I have a savings account that pays me 1.64% per annum in interest. Now for every $1,000 saved, I get paid $1.64 extra. This isn’t much looking at it now, but if I play the long term game. Lets say I save $10,000 on average over the next 10 years (10,000 x 10 yrs = $100k) that pays 1.64% annually, I would have been paid an extra $1,640 (100k x 1.64%). It isn’t a whole lot compared to the saved total, but it is just an example of how you can make money work for you and if you are smart enough about it and learn great strategies about how to make money work for you, then you can earn a lot of money without lifting a finger!
Now, I am no financial guru, so this post isn’t a guideline on what to do and what not to do, it is simply my mindset on how I view money and what helps me become better financially! I am also still learning about finance and money everyday, which is why I would be doing you guys an injustice if I didn’t give you a link to the best selling financial book “Rich Dad Poor Dad”, so you can have a read and understand a more in depth form of financial knowledge that will put you on a path to financial success just like it has with me!
You can find Robert Kiyosaki’s book here! https://amzn.to/2HM95d4