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Financial Literacy

Just when I was rounding up my 1st degree in the university over 20 years ago, a book became popular. The book impressed our financial ignorance upon us.

It was easy-to-read, informative and instructive.
It defined asset and liability in a way we could relate with, different from how our accounting teachers have done over the years: an asset puts money in your pocket, a liability takes money out of your pocket.

The book also told about several high income earners who died broke. It emphasized that a large salary does not automatically translate to wealth. Also, looking rich and being rich are two different things.

If you have read it, you should have guessed the book right: Rich Dad, Poor Dad by Robert Kiyosaki.

I think the best thing the book did to me was to spur me on to learn more about finance. First, there’s so much to learn. Second, things keep changing such that there’s always something to learn. Third, it is voluntary. No one will push you to learn. But when you do, you will quickly see the results.

Pick up a book today to improve your financial literacy.

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