Sep
30
Rich Dad’s Guide to Becoming Rich…Without Cutting Up Your Credit Cards
By
The real trick to building personal wealth is learning how to transform ‘bad debt’ into ‘good debt.’ This quick-hitting book explains how-without having to cut up credit cards. This is the eighth book in the phenomenally successful Rich Dad series. This book was originally published as an e-book and now joins the Rich Dad series in trade paperback format.
About the Author
Robert Kiyosaki founded an international financial education company and invented the board game Cashflow.…
Buy Rich Dad’s Guide to Becoming Rich…Without Cutting Up Your Credit Cards at Amazon
2 Comments
September 30th, 2009 at 10:12 pm
With so many other so called financial experts urging us to cut up our credit cards, what a refreshing change it is to read from a real authority who indicates that you not only don’t have to cut up your credit cards but can actually become wealthier by using them.
I like my credit cards too and I highly recommend this program by Kiyosaki.
September 30th, 2009 at 11:52 pm
Kiyosaki wrote this book as the eighth installment of his Rich Dad Series. The book serves to constantly remind us that the key to increasing our chances of becoming wealthy requires the willingness to the pay the price. Discussing all the get rich schemes, such as game shows or playing the lottery, Kiyosaki writes, “There are better ways to become rich, with much better odds, but most people are not willing to pay the price” (x). The price to pay is the time and money you spend investing in your financial intelligence.
Kiyosaki recalls a truism once observed by Rich Dad, “The only people who think life should be easy are lazy people” (3). Kiyosaki rejects frugality as the best way toward becoming rich. Instead he recommends paying the price for higher financial intelligence, “…another way to become a millionaire is to improve your financial literacy, your financial intelligence, and be willing to be accountable to yourself, your results, your continuing education, and your personal development in becoming a better human being…that was a price I was willing to pay to become a millionaire” (81). Adopting such a mindset becomes tantamount to swimming against the current. Possessing faith and the fortitude to dedicate your life to accumulating wealth in this manner is crucial to overcome such naysayers as friends and family.
Rich Dad also observed, “One difference between a successful person and an average person is how much criticism they can take…Most people feel safer in the herd of the average” (150). Criticism tests one’s resolve. You must be willing to make mistakes and to learn from them. Kiyosaki writes, “…the price of becoming rich is the willingness to make mistakes, to admit you made a mistake without blaming or justifying, and to learn” (18). A person who has risked little in life has also gained little.
The book states clearly that the path to wealth is not to cut up your credit cards and decrease your means, but to work to increase your financial intelligence so that you can increase your means by acquiring income-generating assets. This strategy holds the greatest potential for accumulating wealth, but it also requires the heaviest investment in yourself.