The way to get out of debt is through financial knowledge.
The way to stay out of debt is also through financial knowledge.

Read how you can fight debt with financial education.

If you buy a real estate property and hope that the value will go up eventually so that you can sell for a profit, that is called Capital Gain investing.
If you buy a real estate property and rent it out to collect monthly rent, that is cash flow investing.
So which is better?
Read how Robert Kiyosaki explained the pros and cons of each in this blog.

Robert Kiyosaki said that your inflow and outflow of money, otherwise known as income and expense, will determine what kind of cashflow pattern you have.
It is therefore important to know what is your monthly income and your monthly expenses, so that you can determine what is your financial situation.

Understand more about income and expense here.

What is the difference between an investor and a gambler?

With reference to Robert Kiyosaki Cashflow Quadrant, the I quadrant stands for Investor, where you let your money work for you, by investing them. When is an investor like a gambler?

An investor who invest without any sound analysis and purely rely on gut feel will be like a gambler. Investor and gambler is different by the way they approach the investment. One based on knowledge and the other based on feeling.

I used to think that I understand very clearly what is an asset and what is a liability. That is until I read Robert Kiyosaki's "Rich Dad, Poor Dad", especially on what is considered to be an asset.

This article describes what is asset and liability in Robert Kiyosaki's context.

Financial literacy should be cultivated from young. Robert Kiyosaki started learning from his Rich Dad at the age of 9, the various financial theories and concepts.

Here is how you can teach your children the value of money to start with.

Part IV of the article which explores the top 6 personal financial obstacles defined by Robert Kiyosaki in his book "Rich Dad, Poor Dad", that can hinder even the financial literate from achieving their goals.

This is the last installment and looks at Arrogance and Disappointment.

Robert Kiyosaki "Rich Dad, Poor Dad" has highlighted the importance of financial literacy and the low level of literacy in the US.

Nathan Dungan wrote in KCCI.com Money column, suggesting that US should have a Secretary of Personal Finance. He argued that there hasn't been much improvement in financial literacy and with the need to acknowledge and recognize the urgency of financial literacy, why not have a Cabinet-level position personal finance since they have them for energy, transportation, education and labor.

Part III of the article which explores the top 6 personal financial obstacles defined by Robert Kiyosaki in his book "Rich Dad, Poor Dad", that can hinder even the financial literate from achieving their goals. This installation looks at Laziness and Bad Habits.

This is the part II of the articles which explore the top 6 personal obstacles quoted by Robert Kiyosaki, that can block even the most financial literate from their financial goals.
Part II talks about the obstacle called Cynicism.

Robert Kiyosaki "Rich Dad, Poor Dad" book brought about the awareness of the need to be finanically literate, and the lack of finance knowledge in the general population.
Schools are beginning to do their part by teaching financial knowledge to the young.

Read how one school has done that.

Although financial literacy can help you to attain your financial success, there are certain personal obstacles that will block you from your goal even if you have the financial know-hows.
Robert Kiyosaki has listed 6 such personal obstacles and among them is the Fear of Losing Money, as described here.

Robert Kiyosaki came out with a diagram called Cashflow Quadrant to help people to understand where they are. Depending on how your income comes from, you will belong to one of these 4 quadrants.

For details on these 4 quadrants, refer here.

Not everyone has a rich dad like Robert Kiyosaki in "Rich Dad, Poor Dad", who can be a mentor to Robert Kiyosaki, educating him on the principle of money and wealth.
Logically, the next thing to look at is the schools, which unfortunately do not teach about finance literacy. However, this is slowly changing as described here.

One of the key to riches is to become financially literate.
Financial literacy includes knowing subjects such as accounting, investment, taxes, money management and building business.

How do you become financially literate?
You can do so by opening your eyes and your ears, and also your mind.

Read more here...

Very interesting idea. The use of Piggy Bank and the correct mind set could actually help you to get to your financial goal. I would have never think of that.

Here's how this could happen.

The rich and the poor both fear losing money. The difference is that the rich knows how to handle fear and will act in spite of fear. The poor will just play safe.

Read the full post here.

Personal finance is compared to martial arts?
That is the last thing I can think of. But I guess there is a similarity here. To get good at your personal financial skill, you need to learn and practice, which is the same for martial arts. Learn and practice.

If personal finance is like martial arts, which belt will you be wearing? I probably be wearing the white belt.

See how personal finance is classified under different martial arts belt here.

The unfortunate fact of the Rat Race which most of us are in.

In Today's Rat Race, the Most Overworked Win
:-(

"We are happy to extend to you a special credit line offer of up to x time of your monthly salary for a low low rate of y% per annun. With the money.... blah blah".
"No, thanks"!!!! I replied.

I have always rejected calls and offers from credit company to give me a credit line. Why would I need a credit line when I am living within my means?

Well, it seems like that I will need to give seriously thought about this again after reading this.

I read "Rich Dad, Poor Dad" a couple of years back, and understood a few principles such as Assest vs Liabilities. Apart from discouraging me in getting a car (which is not an absolute necessity for me), I don't think I can practice much of what I have learnt.

As this post put it, we can start small and improve on it. We just have to start somewhere.

Stephanie Yeh from Proseprity Abound wrote:

We were recently approached by a young woman who wanted to begin building her wealth at the tender age of 18. She knew that she didn't want to work at a regular job all her life, and wanted to start taking the right steps now to build her financial independence. As we talked with her, we came to the conclusion that her first step would be to educate herself about finances and the world of money.

It turns out that financial literacy is one of the most important steps for any of us to develop wealth. Many of us know that we would like to be wealthier, but we don't necessarily know how we're going to do that.

Are we going to invest in the stock market? Mutual funds? Sell on eBay? Go into network marketing?

Before we can decide how we're going to build our wealth, we need to first know something about the world of money. We need to know how to tell the difference between an asset and a liability, between revenue and profit, and between active and passive income. Once we know what these things are, then we can make some active decisions about how we want to create wealth and financial independence in our lives.

So how can you become financially literate?

One of the fastest ways to educate yourself about the world of money is to start reading books by Robert Kiyosaki. He wrote the simple-to-read and radically shocking book "Rich Dad Poor Dad." We say it's radically shocking because it shocks most people out of their old habits and thoughts about money.
It's a life changer. He's also written a number of other books about investing, network marketing and cash flow.

How can you educate yourself if you're cash poor at the moment? Go online to used bookstores and buy his used books. You may also be able to find his game, Cashflow 101, online for less money. This game gets you into the swing of thinking like a wealthy person, which helps you actually attract the wealth you desire!

Rich Dad taught Kiyosaki to "Pay Yourself First" in "Rich Dad, Poor Dad".
But how do you really put that into practice?

According to "Wisdom from the Rich Dad", you need:
1. Set aside some amount each month even before you start paying your bills and expenses.
2. Decide how you want to invest that amount of money you have set aside.
3. Then you pay your bills.
4. Live on what is left.
5. Avoid credit card debt.

Read the full article here.

"Kiyosaki admits he's a failure at Amway/Quixtar!"
Hawaii (APP) - The famous millionaire businessman and best selling author of "Rich Dad Poor Dad", Robert Kiyosaki admitted today after almost 7 years of being an Amway/Quixtar distributor that he is still not even a Platinum distributor. Kiyosaki had announced his joining Amway under Diamond Bill Galvin at a Yager function in 1998.....

News source: Hahoo! Fake News!
Click above to get the full story. ;-P

Welcome to Robert Kiyosaki Trivial Pursuit Game.
The only game where you don't get prize for the correct answer!
I'm your game host for tonight, and here's your questions.

Trivial Pursuit Questions:

• Which year did Robert Kiyosaki retired?
• What does the initial "T" in Robert T. Kiyosaki stand for?
• When was "Rich Dad, Poor Dad" first published?

Your time starts now!!!!

Hint hint... --> Check it out here!

Welcome to my humble blog. :-)