The word literacy is probably nothing new to many of us, from a young age, we were send to schools of different levels (primary, secondary, college, polytechnics, universities, post-graduate, professional certificates), to learn knowledge, skills and ultimately become literate and educated in our specific industry or professional skill.<\/p>\n

However, do you recall, when you were a young child, were you ever taught on financial literacy ? Are you a highly educated, professionally successful but yet financially illiterate ? We can make a lot of money but we can also spend all the money we earn and not keeping any money at all.<\/p>\n

Robert T. Kiyosaki, wrote, in his powerful book “Rich Dad Poor Dad<\/strong>“, Chapter 3 – Why Teach Financial Literacy?<\/em><\/strong>, the key to building wealth in the future lies in a simple rule of of solid and deep foundation :<\/p>\n

\n
• Understanding the difference between an asset and liability<\/li>\n
• Buying Asset, Reducing Liabilities<\/li>\n<\/ul>\n

  The rich people acquire assets, the middle and poor acquire liabilities, thinking that they are assets. “An Asset is something that puts money in your pocket, A Liability is something that takes something out of your pocket”<\/strong><\/em><\/p>\n

  In order to further understand the above points, a person needs to know about their Income Statement and Balance Sheet ~ Income vs Expenses and Assets vs Liabilities. Failure to understand the key relationships between these 2 concepts have resulted in many people struggling financially today.<\/p>\n

  Would you like to take the first (brave and wise) step to understand and learn about 2 simple accounting concepts that must be applied to your everyday life and lifelong planning ?<\/p>\n

  Or you simply don’t care ?<\/p>\n","protected":false},"excerpt":{"rendered":"

  The word literacy is probably nothing new to many of us, from a young age, we were send to schools of different levels (primary, secondary, college, polytechnics, universities, post-graduate, professional certificates), to learn knowledge, skills and ultimately become literate and educated in our specific industry or professional skill. However, do you recall, when you were […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[19,12,14,9],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\n