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Showing posts with the label Unstable Financial Crisis

Rich Dad Poor Dad - Summary for Students

Imagine you have two teachers in life who both want to guide you, but they have very different ideas about money and success. One of them is like the "Poor Dad" in Robert Kiyosaki's book Rich Dad Poor Dad , while the other is like the "Rich Dad." Let me tell you about what I learned from these two dads and how you can apply it to your own life, even as a student. The Story of Two Dads Poor Dad is a smart man who went to school, got good grades, and found a stable job. He believes that success comes from working hard, saving money, and avoiding risks. He often says, "I can't afford it," and believes money is something to be careful with. Rich Dad, on the other hand, didn’t have a fancy education but understood how money works. He believed in making money grow by learning about business and investments. Instead of saying, "I can't afford it," he would ask, "How can I afford it?" This small change in thinking made a big differe...

Simple Ways To Start An Initial Step To Reach Financial Freedom

 Simple Ways To Start An Initial Step To Reach Financial Freedom Starting your journey toward financial freedom can feel overwhelming, but taking small, manageable steps can make the process feel more achievable. Here are some simple and practical ways to begin: 1. Track Your Spending Before you can make any changes, you need to understand where your money is going. Start tracking all of your expenses for at least a month. Use an app or spreadsheet to categorize and monitor your spending. This will help you identify areas where you can cut back and save more. 2. Create a Budget A budget is a crucial tool in managing your money. Once you’ve tracked your spending, create a budget that ensures you’re spending less than you earn. Follow the 50/30/20 rule: 50% of your income for essentials (rent, utilities, food, etc.) 30% for non-essentials (entertainment, dining out, etc.) 20% for savings and debt repayment. 3. Build an Emergency Fund Life is unpredictable, and an emergency fund ca...