Finally, it’s time to recap what we’ve learned from Robert Kiyosaki’s book Increase Your Financial IQ.
It all began with the question: “Does money make you rich?” And now, what are your thoughts on that?
Seems like it requires some homework, right?
Throughout the book, we discovered that financial intelligence and financial IQ go hand in hand. And we now know that financial IQ is divided into five key areas:
1. Making more money
2. Protecting your money
3. Budgeting your money
4. Leveraging your money
5. Improving your financial information
But is that all the book taught us? Absolutely not. Robert covers much more.
He dives into how our brain functions and how emotions play a crucial role in our financial journey. He talks about the left brain, right brain, and even the subconscious mind.
Robert also shares personal experiences that help us understand the importance of distinguishing between information, facts, and opinions. This gives us valuable insight and teaches us not to blindly follow outdated advice.
He emphasizes the integrity of money and shows us how to develop our financial intelligence. Slowly, we begin to understand the real value of intelligence over just dreaming about becoming rich.
One important concept he introduces is budgeting, especially the difference between a budget deficit and a budget surplus, helping us think differently about how we manage our money.
He also examines the priorities of the middle class and why many struggle to achieve their financial dreams. He lists these typical middle-class priorities:
• Get a high-paying job
• Make mortgage and car payments
• Pay bills on time
• Save, tithe, and invest
According to Robert, the problem is that they treat paying themselves first as their last priority. He insists that paying ourselves first should be the top priority.
He also speaks about choosing the right partners- not just in relationships, but also in business. This is crucial for success. He shares how choosing his wife, Kim, was the best decision of his life.
Robert also discusses how our environment impacts our financial path.
Whatever the case, if we have a dream, we must pursue it - right?
And to pursue it, we need to take the necessary steps and move forward with purpose. Only then can we reach our destination.
For anyone interested in investing, making money, or managing money better, this book is a must read.
Next, let’s explore another one of Robert’s valuable books - Rich Dad Poor Dad - and uncover the insights it has to offer.
