We are brought up to believe that education is good, and it is! So we send our children to schools and university, but almost without exception, the education system omits financial education. We leave the education system and enter the work and business world and find ourselves floundering for lack of financial knowledge.
Personally, I narrowly missed an A for higher grade accounting in matric. Despite this, all I learned was how do set up and run a basic set of books, know what a debit and a credit was and pass an exam. I could draw up a trial balance and a balance sheet, but had no idea how to use this information! My financial education was severely lacking!
By the time I started my own company and needed to run a set of books, accounting software had replaced my matric accounting qualification. What I actually needed to learn at school or university was financial wisdom, that is, the application of finance. I needed to know how money worked, what a true asset was, how a business worked, how to watch cashflow while building an asset base.
Whether your business is investing in real estate, or a services related business, or you sell a product, if you haven’t yet done so, I recommend you read his book; Rich Dad, Poor Dad
In a recent article, Robert Kiyosaki, wrote;
Today, I encourage you to begin your financial education and to move from the risky life of an employee to the financially free life of an investor. Read some books, attend a seminar, find a coach and a mentor, and start small by applying the lessons you learn. That is the path to financial freedom.
I trust you were inspired to learn more and never stop adding to your financial education.
School is over but the learning continues.
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