Robert Kiyosaki’s financial IQ ; a new approach towards wealth

Robert Kiyosaki’s financial IQ; a new approach towards wealth

You probably know Robert Kiyosaki. He can be called the father of financial IQ in the world. The man who first introduced the world to new ideas that have changed the lives of millions. Robert Kiyosaki’s Financial IQ Courses are one of the most attractive and practical wealth and financial IQ training courses in the world that are unique in their kind. In this article from PrivateMillionaire , we want to get acquainted with Robert Kiyosaki’s financial IQ in full.

What is financial IQ?

Perhaps if we ask some people what financial IQ is, they will confuse it with money, while the concept of financial IQ is much broader and beyond money. Big and well-known personalities in the field of financial IQ state that all kinds of financial IQ can be strengthened. Robert Kiyosaki is known as the most famous person in the field of financial IQ.

“Rich Dad Poor Dad” is a book on wealth and financial IQ by Robert Kiyosaki. He explained the concept of financial IQ through this book. This concept is now becoming more widespread. Robert Kiyosaki defines financial IQ as the ability to solve financial problems through the right attitudes and perspectives as well as the right financial knowledge that leads to the right financial behaviors in individuals. In fact, it is not the type of business, real estate, stocks, savings funds or money that makes a person rich, but the existence of various types of financial IQ and its use will lead to wealth.

Financial IQ component by Kiyosaki

The followings are the components of financial IQ which everyone should be familiar with:

Have a new understanding of getting rich

You have to understand that today, as in the last two or three centuries and before, they are no longer just land, industry, factories, and the cause of wealth creation. The first step to financial IQ is to realize that today, new knowledge and information can generate wealth and money for you. Understanding this step will be a great success.

A program for acquiring financial knowledge

Rather than relying on formal training, try to learn financial knowledge well. Unfortunately, today parents do not have an attitude in this regard, nor do they have a seriousness in this regard, nor do they have a plan in this regard. You need more than luck to succeed in affiliate business.

Reaching new ideas

Never say that I cannot make a certain income or even more. Rather, you should say with complete confidence that I can do it by accident and how I can do it.

Do not work for money

Try not to work for money; This is one of the most important teachings of financial IQ. What does it mean? To make money, you need to give yourself time to get paid. Yet, if you do not want to work for money, you have to make a profit instead of earning money; That is, your investments will generate revenue, not your time.

Get financially talented

You just have to be more discriminating with the help you render toward other people. Financial talent means how to make money, how to grow your income, how to keep that money and make the best investment without losing it. In other words, how to buy real estate and then add the next asset with the same asset.

The new meaning of poverty

Remember that in terms of financial IQ, poverty does not mean not having money, but it does mean that you have to be physically present at work to earn money. This means that you have not created any real sources of income or assets. So you have to change direction; So that you do not need to be physically present at work to have money.

Know what you will do with the money

Just as a great footballer like Zidane or Ronaldo and Messi knows what to do with every ball he gets at any given moment, you also need to have enough financial knowledge to know what to do with the money you get. Otherwise, imagine losing all the money you get; Just as easily.

Hold your money tight

One of the greatest lessons of Kiyosaki-style financial IQ is that you have to have a hard spirit to keep money. A Japanese proverb says that making money is like nailing the ground and losing it is like pouring water on the sand. For this reason, you have to be extremely serious about saving money; since it is not easily obtained.

Work for yourself

Of course, we do not oppose your work for others and other companies and organizations. However, keep in mind that someone with high financial IQ knows that his or her job alone will ultimately make his or her managers and bosses rich. Working for others, then, should be temporary and merely allow you to access real estate and ultimately income without being physically present at work.

Constant search for new income

Always identify new and diverse sources of income; this can be one of the most important rules of financial IQ training. These can be renting a house or shop, trading the stock market in the right way, renting equipment, assigning the right to use your intellectual property such as books and patents, and so on. Be constantly on the lookout for these new and diverse routes.

Escape from a vicious financial cycle

More effort to earn more; As a result, spend more money on more taxes and more physical and mental health problems to spend more time earning more. Are you unfamiliar with this formula? Financial IQ tells you not to get caught up in this vicious and eternal cycle and try to break it.

Collect assets

Try to learn a lot from modern accounting. Like, what is really the difference between an asset and a debt? When you do not know this simple difference, you will sometimes be looking for assets that have virtually no income for you, nor are they even neutral to you; They are also generating debt and expenses for you. An asset is something that can bring you income or profit or another asset.

 Do not be financially disabled

Please do not be deceived by university degree and experience…; sometimes you may be one of the most experienced and literate in your field, but in terms of financial IQ you are a financially disabled person. In this case, you will be involved in the same vicious cycle of “more work for more income for more expenses”. Never be deceived.

 Look for financial and economic challenges

You need to learn to let go of fear in dealing with financial literacy and IQ. You need to learn to dive into the heart of financial problems and consider every problem and issue that arises in the financial field as an opportunity.

If you look at it this way, you will gladly accept the problems and challenges and even pursue them yourself.

New experiences and financial IQ

Try to work to gain the necessary experience and training. The fact that you are constantly looking for a second or third job, overtime, etc., will not cure your pain. But if you are looking for new experiences, the accumulation of these experiences will eventually make you rich; This is what financial IQ requires of you.

The responsibility is yours

Financial IQ, in the style of Robert Kiyosaki, requires you to take full responsibility. Your actions and behaviors yesterday are your choice; but the results they are implementing in your life today are a necessity. Do you want to see the compulsion of your work today tomorrow? So do the right thing in finance today.

Keep costs to a minimum

Why does it add to your expenses when it adds to your income? So you included Parkinson’s principle, didn’t you? Learn to control your spending as tightly as you did in the past; This way you will have more savings and money. This is something that most people do not do.

Financial reporting method

Use Darren Hardy’s reporting style to control your financial expenses. Keep track of even the smallest of expenses. In this way, you will gradually gain the necessary knowledge about your own expenses. As a result, you will be amazed at how much nonsense you are spending on your life, and you will gradually become more compact.

In praise of budgeting

In financial IQ, having a budget is absolutely essential. When you do not know how much money to spend, you will lose all your money. You need to know in advance where the last money will come from and what it will be spent on. In this case, you will resist the costs incurred.

Excess of debts

One of the most important rules of financial IQ is not to be in debt. Debt causes fear and anxiety in you. When you are scared, instead of working for financial independence, you will work harder to escape your fears and enjoy fleeting financial pleasures. These are the enemies of financial independence.

Towards financial independence

Now we tell you that in financial IQ, financial independence means that if you quit today, how long can you live at the same level as you do?

The longer this time, the greater your financial independence. For some, this is a permanent time; That is, they can maintain this level for the rest of their lives. Try to get to this point.

May Day budget

In financial IQ, you need to set aside money for essentials. These essentials will help you to spend it if there is a problem with your cash flow. In this case, you will have peace of mind and you will not go to work for others out of fear and need.

From job to business

Know the difference between a job and a business; it’s so important. Job means physical presence in a workplace and earning income for the necessities of life and family. On the other hand, business means spending the extra money to acquire a new asset and a new income stream. For instance, if you are a private tutor, then your job is to be a tutor. When you make two million bucks a month, for example, and spend it on digital currency or real estate investing, that’s your business. Start a business next to your job.

From eliminating debt to increasing assets

In your financial IQ, you are faced with four pillars: cost, income, assets and debt. If your focus is on the income column, then you will be middle class and poor. But if your focus is on reducing costs and eliminating debt and growing assets, congratulations; you belong to the rich class and you are one of the functions of financial IQ.

In conclusion

Man is an intelligent being and sees different types of IQ in a variable amount. Some IQs, such as financial IQ, can be acquired, so with education you can learn different types of financial IQ and use it in your life to improve the level of well-being and comfort of your life. Robert Kiyosaki is a well-known figure who has theorized about financial IQ and divided it into five types. Having the tools of wealth is not enough to get rich, but we need to use financial IQ to get rich.

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