Rich but always broke is a book on personal financial management. It exposes certain financial mistakes that are common with young earners. it further offets some suggestions on how to avoid such mistakes.
Written in a conversational manner and embellished with short real life stories. It is a must read for every young earner who desires to overcome personal finance frustrations.
Excerpt:
Like the elite economists rightly stated, our wants/needs are unlimited but the resources with which to satisfy them are scarce.
Over the years, man as an economic being has been in a continuous struggle to make ends meet. Many means have been devised, various strategies have been employed and a lot of principles have been developed and followed by many people, all in the bid to satisfy unlimited wants with scarce resources.
Indeed, some people have mastered the art of managing and also multiplying their resources, so as to meet more of their needs, whereas some others still struggle to draw the ends closer but the ends widen apart adamantly.
Given the same amount of resources, some people would manage to meet many needs as possible, whereas some others would always complain of not having enough.
* Being broke like always, could it be as a result of mistakes or just fate?
* What are the basic things one should do or not do in order to avoid being financially low all the time?
You do know that as humans, we have rights to certain freedoms - freedom of association, freedom of worship, freedom of expression…the list continues.
I suffice it to say that we also have an inherent right to financial freedom. Yeah! Call it the human right to financial freedom, if you like. It is not enshrined anywhere in any constitution, but it is a right we all should uphold and defend.
However, we have certain obligations in turn to fully exercise this right. Interestingly, if you are ever denied your right to financial freedom, you cannot actually sue anybody but yourself. Really, you should be suing your own very self for illegal personal maltreatment and undeserved deprivations.
What is this financial freedom all about?
Well, let me make it very short. Financial freedom is a situation in which one is no longer limited financially, where one can now meet his/her needs with ease. I guess you can make a mental picture of the kind of people who are already at this level. Don’t you desire to get to this level? I am not there yet and I definitely want to get there someday
Meanwhile, attaining this level of being financially free is never by miracle, magic or by mere wishes. It is rather through a gradual process which we should diligently and consistently work at.
In a bid to becoming financially free, our goal should be as George Clason puts it, “to earn money, to keep money, and to make our money earn more money.”
What this book is NOT talking about
I am neither a billionaire who is trying to teach how one can become a billionaire nor a financially free citizen preaching to you about becoming financially free too. This is not another epistle of wealth creation where the writer dishes out principles which he has applied. It is not also a book about how to operate some magical money making machines for “bumper harvest”
