There are several made believes of people about money that tends to keep them in poverty, these believes are not usually through but are accepted out of ignorance. Robert Kiyosaki, one of the world most renowned Best Selling author, entrepreneur and financial mentor said something about how you can shoot these 'sacred cows' of money and start enjoying financial freedom.
Some of the sacred cows of money include but not limited to the following;
1.Go to school: Some persons believe that it is only by going to school that one can become rich but it is not. School is there to impact specialized knowledge into you but cannot think for you, instead you have to think for yourself. Moreover most of the curriculum you have at school do not teach you how to make wealth, so the question is how do you expect to make money or become financially free just by going to school.
2. Get a job: This is another misconception a lot of people have, they believe that by just getting a job can make someone rich, but the result is usually the opposite. Getting a job can actually make you rich but it all depends on your passion or position for that job. The basic thing is that getting a job can never make you financially free.
3. Work hard: Most of us have had our brains washed with the illusion of working hard to make money. I must say it is not all about hard work but brain work that counts the most. If it were all about working hard then you can be sure of a truck pusher driving hummer jeep but that is never the case, proofing the fact that hard work does not make one rich, what make someone rich is brain, smart and intelligent work.
4. Save money: 'Saving your money in the bank for future use' is great but cannot make you rich. Sometimes people save money in the bank for years hoping that their money will continue to pile up in the bank till they become very wealthy by the amount of money they saved in the bank. This is caused as a result of lack of financial literacy because the money in the bank gets eaten up gradually by inflation and the bank makes good use of your money to become far more richer than you, which in any case is not wisdom but foolishness. Instead of saving all of your money in the bank, learn to invest some in maybe a business or something that will bring more returns that the peanuts you get from interest of saved money in the bank.
5. Your house is an asset: The word asset is anything that puts money into your pocket, if it takes money out of your pocket, then it is not an asset. In terms of housing, if the house is a rented apartment and it brings in money more than the cost of setting up the building, fixing and repairs, then that house is an asset but if not, the house becomes a liability.
6. Get out of debt: Not all debts are bad, there are good debts even as there are bad debts. A good debt is incurred as a result of money borrowed and invested in an investment that has the capacity of paying back the debt and still make more profit while a bad debt is incurred if the money borrowed as debt is invested in an investment that does not have the capacity of paying back and securing more profit within a short period of time. For example, a man that borrows $1million dollar just to buy a car and drive down town has incurred bad debt but a man that invest that same money in starting a very profitable venture have incurred good debt.
7. Live below your means: Leaving below your means can make you rich but there are other ways one can become far more richer than living below his means.
8. Invest for the long term in a well-diversified portfolio: You do not have to do a long term investment in diversified port folio to be rich, there are others ways to become rich than that.
You can find out more from the website, www.shootingthesacredcows.com.
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