THE PRINCIPLES OF WEALTH (Part 2)

In the financial world, there is a popular saying that goes " the rich are getting richer while the poor are getting poorer", this saying is what I have come see as a principle not just a mere saying but a concrete principle that is time tested and remains true for ages to come. Then one would ask, why? The answer is that the rich work with a mindset that is way different from those of the poor. So, what mindset do you work with? Hmm?

The rich are getting richer because they don't work for money but they work for assets that in turn produce money for them, so even if they go to work or not, their assets are working for them and they still get money.  The poor are getting poorer because they work for money and if they don't go to work, their income reduces or they don't get paid at all. 

Robert Kiyosaki, our guru on Financial Education, in his book, Increasing Your financial IQ, he said that having a small business or being self-employed is having a job, which means when you don't work your income decreases or ceases,that's one of he reason they remain at the poverty threshold.  To build wealth one have to operate of source of income that is sort of self-generating and that can be taxed very little.  Money you earn from employment are easily taxed and bearly sufficient to meet your needs, you need to have more than one source of income,that is, having multiple streams of income.

The principles of wealth is a well researched area of knowledge and the information there is growing by the day, infact there are so many rules of success, rules of money, laws of wealth creation etc but basically they all point to one simple fact: to be financially free and build great wealth, one should be able financially literate and disciplined.  That means you should seek knowledge on money matters, buy books, attend seminars, both free and ticket events, get magazines and journals, infact acquire all materials you can lay your hands on, and most importantly ACT! Take action on what you would be learning, take action! act ! act!! act!!!

I've said times without number that it's not what you know that matters but what you do with what you know that counts.  My suggestion to you in going about this wealth building thing, yeah, it's a building thing  not an instant millionaire stuff, is that you take a set of these "rules of wealth" and apply them for the next one year or six months and see how your finances would take shape!  One thing I can guarantee is that these laws of wealth would change you, yeah, it would change how you see money, how you spend and how you budget money.  We will be sharing some of these laws that I have been able to uncover from painstaking research and study on this matter of financial education, and there's still more to learn.

Stay with me...it's a journey to financial freedom. Take charge!

Recommended Reading: Why We Want You To Be Rich ( Donald Trump & Robert Kiyosaki), Increasing Your Financial IQ,Rich Day Poor Dad, CashFlow Quadrant (Robert Kiyosaki),Power to Make Wealth (Abiodun Mabadeje), Parable of the Dollars(Sam Adeyemi)