Robert Kiyosaki Lessons: Best ways to Protect and Preserve Money

Shorya.B
Hi myself Shorya Bist. I am from India, a Computer engineer, part time Fashion Model and a blogger.Currently i am running two blogs. One is based on Youth that is Youthofest.com and another one is on make money online tips - Makemoney8onlinejobs.comBELIEVE - Every individual have some hidden talent different from others.Everyone is born with some speciality ,the difference is we are not able to find that. Who all are successful today ,were aware of their talent. ----"Find-Your-innerself"----
Shorya.B
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People most of the time think and talk about the ways in which they can earn some cash and when they become rich they start taking everything lightly and end up losing all the money they have earned. You surely have heard about people who went from rags to riches overnight and came down with the same speed in which they went up.The reason behind this, is, they knew how to earn money but they were oblivious to the ways to keep that money stuck to themselves. These people with new money start spending like crazy.Slowly their spending overpower their earning and game over. In this article, we will discuss ways in which money can be protected and preserved.

Taxes

Taxes
Taxes
You’ll always hear people complaining about how they aren’t able to save any money because of these taxes and they are right. Now, some financial and tax knowledge becomes the necessary. People with knowledge can find many loop holes in tax system and get away with paying very less tax and ignorant people bang their head against the wall for rest of their life. You can do this by consulting with a professional or by studying the mechanics of taxes yourself. If you ask me being dependent is the worst state in which you can be. So, it is better to do it yourself. Have you ever heard of a word; Corporation. I read a book in which the author mentioned how people form corporation to save lots of money. According to him, government give lots of tax benefits to corporations. So, instead of doing business as an individual they form corporation and do business through it. Common people aren’t at all aware about this.

Extra Expenses

Extra expenses

Extra expenses

It is very important to respect money no matter how less it is. Now, I’ll explain to you what I mean. For example – if you buy a house for $ 450000 and apart from that their will be some extra expenses too, like, painting, appliances, furniture etc.. So, considering the huge amount you spent on the house these small expenses won’t bother you much. So, you keep on spending more and more.This is a big example. But this happens in everything. It is like an unnoticeable hole in an oil tank which can’t drain all the oil at once but in an interval of time can siphon it completely.

Value of Money

Value Of Money

Value Of Money

The value of money is decreasing day by day. It means what you use to get for $ 1 few years back now you have to pay $ 5 or $ 10 for it. So, if you think keeping money in the bank can save you then you are wrong. If the question in your mind is how to make money and become rich. Then investing is the answer. Invest in anything share, real estate, mutual funds or commodity. Real state is one of the best things to invest in because the risk in it of losing money is very less and the opportunity to earn is quite a lot.

More Assets And Less Liability

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I read a book by Robert Kiyosaki. He has his own definition of an asset and a liability. He says an asset is a thing that is a source of money and a liability is something that you buy which isn’t a source of money.When you apply for a loan in a bank you have to mention all your assets. According to them, your car, motorbike, even watch comes under the category of an asset. But, according to the author, these all are liabilities because as he said these things aren’t a source of money.Let me explain, even further, a car is a liability because it doesn’t provides a source of money. A house is an asset if its price increases or you are getting a good rent from it.Even a painting you buy whose price increases with time is also an asset.

So, next time you make a list of your asset and liabilities, then, you will know what is what and more assets you have in that list, then, there will be more sources from where money will come to you. Therefore, to remain rich you have to buy more assets then liabilities.

Hire someone to do your work

Hire People

Hire People

Imagine you have a shop and you have kept a person to handle it. Even if you pay half of the profit you get from that shop to that person. You’ll have the other half and the time you spend there can be spent on doing something else or earning money from somewhere else. I have seen many successful people around me who have kept people on the job even when they themselves didn’t have that much money. So, if you have someone else working for you then it is better much better.

 

Comments


  1. Twitter:
    Respecting money and cutting down on the expenses are the best ways to protect money. By saving money (by cutting down the expenses) one can become a millionaire. Frugal living is not at all pathetic like most people think it is.

    And having knowledge about investing and managing money is very crucial! Thanks for sharing!
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  2. Twitter:
    A very nice and refreshing article about money saving. You got it right Shorya, We are working day and night on our blog to earn some bucks and if we are not able to take care of this money in an efficient manner, everything is a waste. So we must find ways to preserve our hard earned money. Thanks for your tips mate, I quite like this article, keep sharing.
    alan recently posted..BBM for PC Download, BlackBerry Messenger for Windows7/8/Vista ComputerMy Profile


  3. Twitter:
    Very nice tips shorya and even i had seen your blog and it seems to be a good future for your blog as all the good ideas are shared by you so looking forward for good ideas from you on your blog.
    Kunal recently posted..Dhoom Machale Lyrics Dhoom 3 Title Song ft Aamir Khan, Katrina KaifMy Profile


  4. Twitter:
    Oh yes… You are very true when you said that…The value of money is decreasing day by day. It means what you use to get for $ 1 few years back now you have to pay $ 5 or $ 10 for it. So, if you think keeping money in the bank can save you then you are wrong. If the question in your mind is how to make money and become rich. Then investing is the answer.
    SAJID recently posted..Gmail Login – http://www.Gmail.com – Gmail Sign InMy Profile


  5. Twitter:
    Robert Kiyosaki is just pure inspiration, like his book Rich Dad Poor Dad is one of my favorite books. Amazing article, btw I would suggest everybody to read his new book, it’s really good as well for young entrepreneurs. Shorya keep providing top notch posts!
    Hristiqn Nikolov recently posted..How To Stay Motivated All The TimeMy Profile

  6. Robert Kiyosaki is doing a really good job in making a serious book easy to read. I like his works.


  7. Twitter:
    Hi Shorya,

    Robert Kiyosaki is great influences and writer. His thoughts are great and helpful. I refereed his rich rad poor dad book it is great choice

    Nikhil :)


  8. Twitter:
    I know you recommend not leaving money in the bank and having assets. I’m not currently at a position where I can do that. I’m heading the right way though. One thing I do is out 10% of everything I earn into a bank account that I don’t touch. This will be spent on assets when there’s enough to do so.
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  9. Twitter:
    Thanks for this really cool post, I really liked it a lot!
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  10. Twitter:
    This one article that every blogger must not ignored, you can make money but if you cannot preserve it, then you will lose everything, a lot of people has been effected.
    Frank Joseph recently posted..Google PageRank Update 6th December, 2013!- check your Site PR hereMy Profile

  11. Iqbal singh thakur says:

    i have recently read Rich Dad Poor Dad and business of 21 century of Mr. Robert kiyosaki. He gives a best way keep hold on money.As my father suggest me i would like to suggest all other that you should also give this book Rich Dad Poor Dad to children so that they can understand education of money


  12. Twitter:
    Hey Shorya,
    Nice post and Thanks for sharing this important tips with us. Its very tough to make money and after making money its more tough to save it. These tips really helps us to save our money in good way.
    Sudipto recently posted..Best Android Phone Under 7000My Profile

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