Spark Global Limited Reports:
Here are some must-read personal finance books to help you develop good savings habits.
Getting training and spending time reading can help you improve your financial control so you can become more financially literate and ultimately increase your financial freedom.
While many people rely on their intuition to guide their spending habits and manage well, it’s also useful to expand your knowledge and build a budget, emergency fund, or make sure you have a financial contingency plan to deal with unexpected situations.
1. The rich make their money work for them
You’ve heard the expression “live to work or work to live.”
This is one of the basic concepts in the book.
Most people work to survive. If they have money problems, they ride it out or ask for a raise.
2. A financial education is your greatest asset
According to the book, money is not your greatest asset.
If people are prepared to be flexible, have an open mind, and learn, they will become richer.
If a person thinks that capital can solve all their problems, they will usually have problems all their life.
3. Don’t work for money; Work and study
Another great lesson of this book is that work is used as a platform to improve the skills you have.
“Find a job where you can learn those skills,” Kiyosaki says.
Know the difference between an asset and a liability
“Assets are things that put money in your pocket, liabilities are things that take money out of your pocket,” the book explains.
In this sense, the rich acquire assets (securities and investments) and the poor increase liabilities (commitments and obligations).
5. Minimize expenses
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