| The key to riches is to become financially | | | | Start off with something simple or something |
| literate. | | | | which you are already familiar with. For |
| | | | example, you may have heard of the terms |
| That was one of the messages I got from | | | | balance sheet or assets verus liabilities. |
| Robert Kiyosaki's book "Rich Dad, Poor Dad". | | | | You can begin from there, learn more in depth |
| | | | into them and they will in turn lead to you |
| Financial literacy does not automatically | | | | to other subjects area. You can learn at your |
| guarantee that you will be rich, but the lack | | | | own pace through the subject materials and |
| of financial knowledge does gurantee that you | | | | you will be amazed at how much knowledge you |
| are unlikely to reach your financial success. | | | | have picked up after a while. |
| Being finanically literate definitely helps | | | | |
| in making better judgements in making | | | | Do not worry if you did not get good grades |
| financial decisions , and therefore enhances | | | | as a student in school. School grades do not |
| your chance of success and make the path to | | | | matter. Do not worry that you are way pass |
| your finance goal smoother and swifter. | | | | your prime. Your age does not matter. Do |
| | | | worry that your financial situation. Colonel |
| Robert Kiyosaki's Rich Dad in "Rich Dad, Poor | | | | Sanders was 66 of age, and broke when he |
| Dad" book, understood this very well and | | | | started Kentucky Fried Chicken. What really |
| tried to expose Robert Kiyosaki to financial | | | | matters is whether you have the desire to |
| principles to build up his financial literacy | | | | learn and educate yourself. |
| at a young age. | | | | |
| | | | How can you go about being financially |
| Robert Kiyosaki described wealth building | | | | literate? You can do so by opening both your |
| like building a building. Both require strong | | | | eyes and ears and also your mind to the vast |
| foundation. While the foundation of a | | | | information around you. Your learning |
| building is made from cement and steel, the | | | | materials include not only financial subject |
| foundation of wealth building is financial | | | | textbooks or formal educational courses from |
| literacy. If you want to build a 80 storey | | | | institutions. They can be also seminars or |
| building, you need to dig deep and pour in a | | | | talks organized by community services or |
| strong foundation. Similarly, if you want to | | | | financial organizations. |
| build wealth and hold on to them, you need a | | | | |
| strong foundation in financial literacy. If | | | | They can be financial books and periodicals |
| not, it would like trying to build a 80 | | | | found in the libraries or your local |
| storey building on 10 inch slab, and ended up | | | | bookstores. They can be the financial |
| with a learning tower of debt. | | | | magazines like Forbes, Business Weeks and |
| | | | newspapers such as Wall Street Journal. They |
| To be financially literate requires certain | | | | can be the business page or money page on |
| level of proficiency in these areas such as: | | | | your local newspaper. |
| | | | |
| - economics, | | | | They can be finanical news broadcasts on the |
| | | | radio or TV. They can even be the |
| - investing, | | | | conversations between your colleagues or your |
| | | | neighbour, talking about personal taxes! And |
| - accounting, | | | | of course, the Internet, where you easily get |
| | | | tons of information, both from authority |
| - taxes, | | | | sites as well as from personal sites. |
| | | | |
| - money management | | | | If you truly want to accelerate your learning |
| | | | to become financial literacy, you should find |
| - and even business building. | | | | yourself a mentor. Find someone who is |
| | | | successful who can give you timely financial |
| All these are not easy subjects to master and | | | | advices based on the experiences he had. |
| require time and effort to accumulate the | | | | Someone who had gone down the path before and |
| knowledge. However, it is not next to | | | | someone whom you think you can model after. |
| impossible. Do not be frighten off by the | | | | |
| level of difficulty in mastering them. It's | | | | Lastly, remember to learn and apply. |
| possible if you choose to do so. | | | | Financial literacy has no value if you don't |
| | | | put it to good use. |