Story of a Friend of Mine
After years of working on minimum wage around the country and moving from one job to another, one thing I swore never to tell my children is “Go to school, you’ll get a good job later.”
Many years ago, these were the same words that my parents used to lure me into books and constant psychological unrest because I had not prepared well for the next exam.
Today, I’m convinced beyond doubt that schools do not teach our children how to be rich; they train them how to depend on employment and fixed salaries, sometimes without social security benefits.
To be Rich, You Have to Learn From Childhood
Financial education should begin from home. Parents should teach their children about financial planning and management to help them grow into financially literate adults.
Teaching your child how to save money, as opposed to spending it, is a great way to turn him or her into a future multimillionaire.
Sadly, many parents don’t understand the simple logic and essence of their child saving a few bucks; instead, they encourage them to spend to the last dollar.
Walk into any McDonald’s shop and see how many children are buying burgers and pizzas. Teenagers know nothing about saving because all they care about is having the latest iPhones, computer games, classy fashion and all sorts of meaningless things they can come across.
They forget that they’ll soon be parents with homes and children to feed.
As a child grows, teach him or her to balance the books, and let them increase their assets and reduce liabilities. When they grow up they’ll have mastered the art of becoming rich.
Create new sources of income if you want to be rich.
If you’re working, try to find an extra source of income. Having extra sources of income, regardless of how many sources, increases your financial power, especially if you’re not directly involved in their day-to-day operations.
Find people to manage your extra businesses as you work in your job. Other writers say that you should allow money to work for you and refrain from working for money.
Don’t Work for the Salary or Wages
In everything that you do, don’t do it for the monetary reward, lest you wear and tire; instead, work to learn.
Learn the pros and cons, the Dos and Don’ts in your area of specialty, and you’ll grow into a wise person with enough knowledge to create something extraordinary. You’ll learn something that no one has ever seen in the field and you’ll use the insight to improve and grow.
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