Why You’re Still Struggling with Money — 5 Lessons to Finally Build Wealth!
Do you feel like no matter how hard you work, you’re still struggling with money? You’re not alone. Financial freedom can feel out of reach, especially if we don’t know where to start. Bestselling author Robert Kiyosaki, in Rich Dad Poor Dad, shares simple but powerful tips on how anyone can build real wealth by changing how they think about money.
Here are five easy-to-understand lessons from Kiyosaki that can help you take control of your finances and start building wealth!
1. Learn the Difference Between Assets and Liabilities
One of the biggest mistakes people make is thinking that everything they buy is an asset. But here’s the truth: not everything we own will make us richer. Kiyosaki teaches that an asset is anything that puts money in your pocket, while a liability takes money out of your pocket.
Example:
- A house you live in is often a liability because it costs money for upkeep, taxes, and mortgage payments.
- A house you rent out is an asset because it brings in rental income every month.
Start looking at your expenses and see which things you own actually help you make more money!
2. “Mind Your Own Business” — Build Your Own Income Streams
“Minding your own business” doesn’t mean starting a business. It means focusing on building up income streams that add to your wealth. Kiyosaki encourages people to build “income-generating assets.”
This can be anything that helps you earn more money without always having to work for it, like:
- Renting out property
- Stocks that pay dividends
- Starting a side business that doesn’t need your constant attention
Having these kinds of assets can help you make money even while you sleep.
3. Invest in Financial Education
To make smart money moves, it helps to understand how money works. Kiyosaki suggests learning some basics about finance to make better decisions. These include:
- Accounting: Knowing how to read financial statements helps you see what’s profitable and what’s not.
- Investing: Learn ways to make money work for you through things like stocks or property.
- The Law: Understand the rules around taxes and finances, so you can keep more of what you earn.
The more you know, the better choices you’ll make. You don’t need a finance degree, but learning a bit about these topics can make a big difference.
4. Pay Yourself First
Most people get paid, pay all their bills, and then save whatever’s left. But Kiyosaki suggests flipping this habit: pay yourself first. This means setting aside money for your savings or investments before paying your bills.
Why? Paying yourself first puts pressure on you to find ways to make up the difference if you need it. It also builds discipline and shows that your financial future is a priority.
Tip: Try setting aside a small amount from each paycheck — even just a little will grow over time if you invest it well.
5. Minimize Liabilities and Avoid Debt
Many people think of debt as a normal part of life, but Kiyosaki warns against it. Debt creates extra expenses because you pay interest on loans, which takes more money out of your pocket.
Instead of buying things that create monthly payments, focus on:
- Paying down debts quickly
- Only using credit when it builds an asset
- Avoiding consumer debt (like credit cards) as much as possible
By reducing liabilities and avoiding debt, you’ll have more money available to save or invest in assets.
Final Thoughts: Take Small Steps Toward Wealth
Building wealth doesn’t happen overnight, but with small, steady steps, you can change your financial future. Start by recognizing assets and liabilities, focus on growing your income streams, and pay yourself first. And remember, the more you learn about finances, the more confident you’ll feel making decisions that move you forward.
These tips aren’t just for people with a lot of money — anyone can start using them today to build a brighter, more financially secure future!