Rich Dad Poor Dad

Chapter - 1

Today I started listening to an audiobook "Rich Dad Poor Dad" on audible and completed 1st chapter that said

1. "lower and middle-class work for money and rich make money to work for them" let's take an example for this Many people in India many people the k that their house is their biggest asset but in reality, it's their biggest liability because they have spent a big lump of their income and saving to buy that and then it also need maintenance so they have to spend money on it regularly but if they bought a house and put it on rent then the house will generate a regular income and then it can be an asset rather then a liability so that's what is known as how to make money to work for you.

2. Never say "I can't buy it" because it stops your mind to working but if you say "how can I buy it" then you will put your mind to exercise and you will get many ideas how to make more money to buy that.

3. Many salaried employees think that if they will get a promotion in their salary then it will solve their financial problem but in most of the cases, that's wrong because if they will get high salary they will tend to spend more which is good for the economy of that country but it's not good for their personal finance because many will spend more money on liability like a new car, a big house for showing off rather buying an asset like stocks or starting a side business which will actually help them in their growth so salary promotion does not solve problem good knowledge of personal finance do and how you spend your money.