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Rich men and banksUnlike them my rich daddy advised to us with Mike to develop our financial intelligence. As it was already told in this book, one of intelligence definitions is ability to spend more subtle differences or to multiply by division. More precisely, the rich daddy did not consider unequivocally that savings it is good, and debts it it is bad. Instead it spent a lot of time for explaining us a difference between good and bad savings, good and bad expenses, good and bad debts, good and bad losses, good and bad incomes, good and bad taxes, good and bad investments. The rich daddy learnt us to think and raise our financial intelligence by carrying out more subtle differences. In other words, the is better you understand a difference between good and bad debts, good and bad savings, the above your financial IQ. If you unequivocally consider something, are for example long, bad or good, means, your financial IQ is far from perfect.
In this book we will not concern concrete distinctions meanwhile that is good and that is bad. But if you were interested by this subject itthe Management on investmentit you will find more detailed explanations of a difference in my third book between good and bad debts, expenses, losses, taxes etc.
The purpose of this book it to warn parents about danger of such statements, as
- Pay off with debts; - Save money; - Pay bills; - Cut down expenses on credit cards; - Do not borrow.
Once again I repeat: poor are inclined to think that banks it is bad, and avoid them; the middle class considers that some of bank services it is good, and some it it is bad; and my rich daddy sees good and bad in all. Advising to us to see in all financial questions the good and bad parties, it developed our abilities to spend more subtle differences in summary we raised our financial intelligence.
Develop financial talent of your child
To one of the most important lessons of the rich daddy was the lesson which he named itthink as the bankerit. Still he named it italchemy of money it a science, how lead to transform into goldit or ita science how to gain money from anythingit. Those from you who has read the book itthe Rich daddy, the poor daddyit, for certain remember an amusing story how I learnt to think like the banker or the alchemist (so name the person, able to transform lead into gold).
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