Money 101: A Guide to Being Rich

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In getting rich, financial education is more important than academic education. According to an article in lifehack.org, the rich prefer specific knowledge over formal education and they always have passion for what they are doing. This means that they became extremely rich by being excellent at doing something or at doing something nobody has dared to do. They lack passion, confidence and ambition. They tend to focus too much on formal education and graduating with flying colors that they forgot formal education is only a part and is not the main key to success in life.

Thinking that losing and failures are mistakes in life are another common perception of people that hinders them from getting rich and achieving their goals. "Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success" (Kiyosaki 132). Failure and mistakes are in fact, not disadvantages in life but advantages. Learning from them can make people become stronger and smarter individuals. "Failure inspires winners. And failure defeats losers. It is the biggest secret of winners. It's the secret that losers don't know" (Kiyosaki 132). Failures make people realize their mistakes and inspire them to improve and become winners. Losers are defeated by failure because of their fear. "For most people, the reason they don't win financially is because the pain of losing money is far greater than the joy of being rich" (Kiyosaki 131). People are too afraid of losing money. There was never a rich person who became rich without losing money. People should be brave enough in accepting their failures and letting their failures inspire them to do better in the future. "'I can't afford it' shut down your brain. It didn't have to think anymore. Besides, it also brings up sadness. A helplessness that leads to despondency and often depression. 'How can I afford it?' opened up the brain. Forced it to think and search from answers. It also opens up possibilities, excitement and dreams and created a stronger mind and dynamic spirit" (Kiyosaki 140). Stating that one can't afford something is useless. A person would just feel depression because his or her mind is set that he or she can't do anything to have it. Actually, one can find ways to afford it. One just has to open up his or her mind, search for answers and just do it. To be rich, a person should always be optimistic and think of the positive and bright side of things.

But these traits are still not enough; people need to have the initiative to start making actions and moves to get rich. One may have these traits but if he or she is just sitting still and not doing anything, then it is impossible for him or her to get rich. Now, here are some helpful ways in being rich. First, invest in stock market. The stock market is a vital component of a free-market economy. According to Investopedia, the stock market makes it possible to grow small initial sums of money into large ones, and to become wealthy without taking the risk of starting a business or making the sacrifices that often accompany a high-paying career. Some would say that the stock market is gambling and just a waste of money but this is definitely untrue because in stock market, a person might lose some money but in just a few weeks he or she will gain a greater sum of money than what he or she lost. Secondly, stop wasting money. Spending money for unnecessary things hinders the path to success. How can a person be rich if he or she can't even do such a simple task like saving money? The rich think and plan for the future too, not just what is present and that's why they save money for the future ventures and investments. Lastly, join in a real estate business. It's because land value increase yearly so people will surely gain profit as the years go by.