Robert Kiyosaki Lessons: Best ways to Protect and Preserve Money


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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.com BELIEVE - 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"----
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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.