How Will You Manage Your Money After The Recession?

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President Obama has endorsed them, Donald Trump has so has Robert Kiyosaki. What are they?

Small business is the answer, in particular online home business. The main reason some heavy hitters back them is because they have a global reach from your home PC. But do you know how to get wealthy and stay wealthy?

Once you know the secret of becoming wealthy it's not particularly complicated but it requires hard work. Donald Trump has proven this by loosing and then gaining millions in equally fast time. Robert Kiyosaki argues the reason people such as lottery winners lose money fast is because they are simply not financially educated.

This begs the next question why not? Well I would argue it's because schools teach our children for academia not the real world. In the UK over 50% of children will go to University, when I was a child that was unthinkable. What has it led to - one of the worst credit crisis' the world has ever seen.

Financial Education

Financial education must be one of the cornerstones of the economic recovery. We cannot have another generation grow up with a 'must have it now mentality'. Parents have a huge role to play in this because it's where I got my financial values from.

Parents need to decide what is important

Two career parents wonder why children want, want, want and feel guilty into giving in because they are both on career paths. Society has to strike a deal with parents. It has to say ok if one of you spends the early years with the child we will legislate so your career does not suffer.

Financial freedom

Of course the alternative to the two career path could be one career and one who runs and owns their own business. Speak to anyone who has made it as an entrepreneur and they will say the freedom it gives them is worth the initial risk.

Back to education

So we've had all these highly 'qualified' people hired by financial institutions and it's led to a $200 Trillion bail out. I would argue if they had known how to manage wealth and been educated in life this would not have happened. Most well known entrepreneurs have little or no higher education.

Get a job and learn what you need for life


The advice Robert Kiyosaki's Rich Dad gave him was to get a few careers actually to learn the skills of what it took to run a business. At the same time he started what turned out to be a very profitable enterprise from an idea that came to him. So success is a combination of skills and education plus determination.

Improving the financial education of everyone so they can manage their wealth and financially plan for their future is of singular importance. Any programme that offers such education together with health and wellness advice is the way forward.


About

Andrew Peel has a background in project management; he works as a consultant - business management coach and mentor.

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Filed under Improve My Bottom Line. Posted by The Corporate Toolbox on