Conventional education prepares us for the E and S quadrant. The mantra has been go to school and after that college to ideally save and get an excellent job in a 401K for retirement. As much of you know this is not a good design in this day and age. On a side note, I was very lucky to grow up with an exceptional monetary teacher. My daddy taught the principles that Mr. Kiyosaki teaches in his books Abundant Father/ Poor Papa, The Cashflow Quadrant and this book Unfair Advantage. I can likewise tell you that many people are financially ignorant. Authors like Mr. Kiyosaki as well as Dave Ramsey are actually needed and our doing what need to be taught in our school system at a national level.
Not only it is challenging to persuade kids they require to understand this info NOW however we're teaching to generations of kids who are used to being entertained.
Lots of people don't discover the very first time they are exposed to a principle, idea or piece of info. Think about your mentor as 'exposing' them to details and understand that it takes often takes repetition for information to sink in. As an example, in a financial literacy workshop, have your trainees repeat phrases and concepts like Pay Yourself First over and over once again.
This simple system has numerous effective principles, paying yourself first, developing a cost savings habit, being organised with your cash and to spend less than you earn and invest the rest.
There were other problems however I think you have the concept. Remember this bank was operated by individuals who had a Financial Education and background. It just shows how much harder we require to work learn more at it to be effective in our own lives if they couldn't do it.
So how do you create your strategy? Once you have your objective and event plainly written, you simply work backwards to where you are today. Naturally, that presumes that you understand where you are today. Do you? Do you understand your present cash flow and net worth? Do you understand the worth of your company and investments? Do you have good monetary records? If not, now is the time to get this part of your monetary house in order.
I would motivate you consider a financial education program that lays out long term stable wealth production. The smallest constant effort, which moves you in the instructions of your goals, will show to pay off with big returns over time.