Tue. Jan 25th, 2022

In this article, I am going to talk about the dangers of lacking financial and values education which are just as important as our school education which mainly and still focuses on theory and academic score having read and understood the books by Robert Kiyosaki like Rich Dad Poor Dad as well as watching all videos of Eben Pagan on what it takes to succeed in business, relationships, wealth and improving all areas of life as his subscriber and customer which are in contrary to what we have been taught and conditioned to think and do by our parents, grandparents and teachers.

Truth being said, most of us only think of making money for ourselves, families and loved ones if we are married and have kids without understanding that in order to make money, we need to give and deliver value to others which is just as important. That also ties in with what Zig Ziglar said that you can have everything you want in life if you give enough people what they want in life. The only knowledge we have is that we have to study hard to get good grades and qualification so that we can get great jobs with high pay in order to have our homes, marry, retire, and live happily ever after. While our parents – especially those from low and middle-income families – told us this out of concern, this sort of mentality is sadly outdated in the current 21st century. And even more so with digital technology looking to shape and change the way we live, study and work.

https://www.mindsetkit.org/practices/W5kj3JlDNjw1YgzB

https://www.mindsetkit.org/practices/uf7BSeP8Njw1YgzB

https://www.mindsetkit.org/practices/Q4zYkl4XNjw1YgzB

https://www.mindsetkit.org/practices/83ihQbHhNjw1YgzB

https://www.mindsetkit.org/practices/y3XgeyabNjw1YgzB

https://www.mindsetkit.org/practices/hCNmrJdxNjw1YgzB

https://www.mindsetkit.org/practices/g29e9JInc0vDb9jc

https://www.mindsetkit.org/practices/tWQER8vYNjw1YgzB

https://www.mindsetkit.org/practices/Q3r3DHB3Njw1YgzB

https://www.mindsetkit.org/practices/sCh5wWyQNjw1YgzB

https://www.mindsetkit.org/practices/EggrOs8HNjw1YgzB

https://www.mindsetkit.org/practices/QokE7ZGmNjw1YgzB

https://www.mindsetkit.org/practices/4EF4qVplNjw1YgzB

https://www.mindsetkit.org/practices/d4X8NtBcNjw1YgzB

https://www.mindsetkit.org/practices/slj0POP4Njw1YgzB

A rich parent – for instance the current US President Trump – will never tell his children that. Sure at first glance, they will tell their children to respect others in public and tell them off if they are disobedient and do not behave. But behind closed doors of their homes only known to family members and maid serving them, they will share with them other things that poor and average parents will never share with their kids.

Which is while making and saving money are important, delivering value and smart investing to maximize it are just as important.

According to Eben Pagan in his YouTube videos, he said after years of studying about business and wealth, he learnt two critical things. One is that people do not like to give away their hard-earned money without getting any value in return. When I say value, I am not talking about anything that sales and marketing people offered them. But what people really need and want for themselves and loved ones. Second is that money has a hole in its bucket and unless you know how to earn, you will lose every dollar you spent never mind on what things.

Here is another truth of life which I discovered after my very own study and research on other articles and blog posts besides reading and watching videos by those gurus. That is money is never given or distributed evenly all the time. It is only for those who delivered the most value as in helping and making a difference to others’ lives as well as those that others feel closest to. Even if it is otherwise, most people will squander on things they like short-term but are not essential long-term. Especially luxury items such as cars, condos, gadgets and jewellery to name a few. And when they spend all their hard-earned money with little or no savings, they will usually resort to those things.

1. Taking on 1 to 2 part-time jobs on top of their main one just to be able to cope with the daily expenses and support their family.

2. Borrowing from families and friends,

3. Asking for loans from creditors, loan sharks and banks,

4. Applying for credit cards,

5. Gambling in casinos, lottery and sports betting

While there is nothing wrong with the first though it might put additional stress on individuals’ health and well-being, there is everything wrong with the other four which I myself was guilty of in the second and fourth.

Because every time you borrowed, you needed to pay back as we Asians have a very strong ethnic and principle on it. If they are not carefully abided by, tragedies may occur. Not just on individuals who cannot pay back and lose everything but their families as in their parents, parents-in-laws, spouse and children as well.

And the saddest truth is when the family is poor, the spouse have to work or take extra job as well to bear the costs and the children will have to give up their passion, interest and even studies just to work early to copy with the family burden costs.

For the rich, it is another story. Suppose if one or both your parents are running the company as bosses or CEOs, you will be required to help them out upon completing your studies.

By rahul