Want to Build Wealth, and be Secure? Focus on Learning Instead of Earning! Debt Consolidation Insight

Want to Build Wealth, and be Secure? Focus on Learning Instead of Earning!

I just finished reading Robert Kiyosakis book, Rich Dads Increase Your Financial I.Q.: Get Smarter with Your Money and the one major takeaway is that too many people never realize their true financial potential because the get in their own way! Many people focus on earning more money when they should be focuses their time and energy on learning and increasing their money I.Q..

* Note: Kiyosaki discusses 5 aspects of Financial I.Q. in his book, but Im just going to focus on this one, general concept here.

The learning discussed in the book is not a formal education. In fact, thats one of the mistakes that many people make amassing huge amounts of debt going to college in the hopes of finding a good job and their place on the financial treadmill, only for some its more like a hamster wheel.

So what does focus on learning mean if not the traditional, middle class mantra go to college to get a good job?

It means taking risks and chances while youre young, and always learning from your mistakes as well as your successes. People come into money all the time, sometimes mass amounts of it only to lose it all later. Think of lottery winners, famous athletes and performing artists. Suddenly rich, then suddenly broke. Why? Because they didnt increase their 2nd financial I.Q. after mastering the 1st. They simply did what they loved doing and fell into their riches, but never learned how to manage and protect their wealth.

The first two financial I.Q.s in the book are :

earning more money.
learning how to protect that money.

In the example of the star athlete or lottery winner, they mastered I.Q. #1 but failed horribly at I.Q. #2 protecting their money.

Protection can mean many different things, and is usually referred to as security by many people. They may want to be secure in the knowledge that their savings are safe from loss, or maybe they want to protect their savings and assets from legal action. Whatever meaning you take, once youve earned it you must get educated on how to keep it or risk losing it all.

But even losing it all isnt the end.

There are many well known moguls, like Donald Trump, who have built vast financial empires and lost it all only to come roaring back again. Why? Because they learned from their experience and were not afraid to fail.

Those who cannot remember the past are condemned to repeat it.
-George Santayana

If you do not learn from your mistakes, you will keep making them and make little or no progress in life.

Ive always thought its important to learn from your own mistakes, but its also important to learn from other peoples mistakes as well.

Here are a few resources to help boost your financial I.Q.:

Tips to avoid losing money to these common investing mistakes .
Educate yourself at tax time to avoid common tax mistakes and save more money.
Get educated on credit cards so you can know how bad credit mistakes can be and avoid even basic credit card mistakes that cost thousands.
And if nothing else, learn from other people and avoid even basic money mistakes whenever you can.

Debt Consolidation Insight

Credit Card And Unsecured Loan Debt Consolidation