This book focus on the five key financial IQs to help us get smarter with our money. The five financial IQs are: -
- Making More Money
- Protecting Your Money
- Budgeting Your Money
- Leveraging Your Money
- Improving Your Financial Information
1) Making More Money
Emotional intelligence is essential to financial intelligence. Many people are unable to make more money as they can't live without instant gratification. Furthermore, instead of taking on new challenge and learning, they play it safe and stick to what they know. The higher a person's financial IQ, the less he works while acquiring more and better quality assets.
2) Protecting Your Money
Financial IQ #2 measures the % of income a person keeps against the % of income financial predators take. Working for earned income does not allow for much protection from taxes.
3) Budgeting Your Money
Increasing income, rather than reducing expenses, is a better way to solve the problem of a budget deficit. Spend time, money and energy to increase your income. Don't cut back on expenses. Budgeting your money is measured in % of income that reaches your asset column.
4) Leveraging Your Money
Leverage makes your money work harder for you by using other people's money and if you have high financial IQ #3, you can pay less and less in taxes. If an investor lacks the financial intelligence to control the investment, the use of leverage is very risky.
5) Improving Your Financial Information
Information is the single greatest asset of this era. It is not the asset that makes you rich, it is information and intelligence that makes you rich.
The integrity of all 5 intelligences is required if a person wants to grow rich, stay rich. If people want to become rich, they need to find an environment that allows them to develop and apply their genius.
For more details, please read the book "Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money" by Robert Kiyosaki
- Making More Money
- Protecting Your Money
- Budgeting Your Money
- Leveraging Your Money
- Improving Your Financial Information
1) Making More Money
Emotional intelligence is essential to financial intelligence. Many people are unable to make more money as they can't live without instant gratification. Furthermore, instead of taking on new challenge and learning, they play it safe and stick to what they know. The higher a person's financial IQ, the less he works while acquiring more and better quality assets.
2) Protecting Your Money
Financial IQ #2 measures the % of income a person keeps against the % of income financial predators take. Working for earned income does not allow for much protection from taxes.
3) Budgeting Your Money
Increasing income, rather than reducing expenses, is a better way to solve the problem of a budget deficit. Spend time, money and energy to increase your income. Don't cut back on expenses. Budgeting your money is measured in % of income that reaches your asset column.
4) Leveraging Your Money
Leverage makes your money work harder for you by using other people's money and if you have high financial IQ #3, you can pay less and less in taxes. If an investor lacks the financial intelligence to control the investment, the use of leverage is very risky.
5) Improving Your Financial Information
Information is the single greatest asset of this era. It is not the asset that makes you rich, it is information and intelligence that makes you rich.
The integrity of all 5 intelligences is required if a person wants to grow rich, stay rich. If people want to become rich, they need to find an environment that allows them to develop and apply their genius.
For more details, please read the book "Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money" by Robert Kiyosaki
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