If you have poor money management skills then all the money in the world cannot save you.

(Robert Kiyosaki)

The above book quote is from “The Business of the 21st century” by Robert Kiyosaki.  It’s quite an interesting and informative book for those individuals interested in securing their financial future, and avoid financial debt . The subtle truth in the book is that a fairly good number of graduates and non-graduates lack the basic financial knowledge on how to handle their personal finances . This is because most learning institutions teach students how to handle money in organizational settings and not so for their personal growth and development. This has resulted in the formation of myths concerning money ,richness and financial freedom namely:

If I Get a Masters ,PhD, or a Better Job, I Have a Good Chance of Becoming Financially Stable
Having an advanced certificate, or better job might increase your chance of having a a high salary, but will not make you rich or financially stable. According to Kiyosaki et al, Financial intelligence is the compass that bears on your financial health status regardless of your level of education or paycheck; not academic intelligence per se.

As Kiyosaki puts it, richness is a result of long term Investment in assets that generate money for you. Wealth on the other hand is a result of re-investing money generated from your assets into acquiring further assets to the point of those assets becoming independent money making machines.The latter part of creating wealth is what most of us fail at. Those who succeed at it no longer have to work everyday to make money as their assets make enough money for them.

If you want to know how rich or wealthy you are at the moment, ask yourself “How many days can I survive comfortably without going to work or without a job?” the answer to this is your Wealth status at the moment.

Money Is More Important Than Pursuing My Personal Dreams
Despite the shift from an industrial driven economy to an information world economy, dreams are still the key drivers to success. The only difference is that there are fewer individuals with the stamina and will to steer the turbulent waves of life to their destined dreams. As Donald Trump says, real dreams are only for those with a diehard entrepreneurial spirit. Gold, money, and real estate business will therefore not make you rich, but having knowledge on how they work is what will make you rich that is according to Kiyosaki.

If I Work Hard, I Will Eventually Become Rich
It is true that the Richard Bransons of today have a lot of money because of hard work. The only difference is that they worked hard specifically to build their dreams, not to just to pay the bills. From talking to a number of working individuals there is a further realization that making money is a good thing if you’re determined to learn how to invest it in you dream, but a self-defeating process if you set it as a life target or goal.

I would like to go on and on about financial myths, but I am no financial guru or “know it all”. So that is enough information to get you and I moving in the right direction

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