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"It's not what you earn, but what you keep; that makes you rich". Time and again I have heard this. I have heard Robert Kiyosaki say it, Napoleon Hill say it, and also Jay Kubassek. In his book, Rich Dad Poor Dad, Robert Kiyosaki mentions that even though his Poor Dad used to earn more money than his Rich Dad, he used to be poor because he was always riddled in bad debt, whereas his Rich Dad was never in bad debt. He says it was all due to the differing attitude towards money and lack of financial intelligence on the part of his Poor Dad. Jim Rohn wisely put it, "The rich invest their money and spend what is left; the poor spend their money and invest what is left". If not anything else, let us focus on the how practically to put the former part into action. When asked on what is a simple practical way to get rich, Robert Kiyosaki suggested the following method. I have come to call it as the 70-10-10-10 principle. This whole exercise is based on the principle that ‘It's the habits that make your rich, and not the amount'. Buy yourself 3 piggy banks, and label each as ‘Savings', ‘Investments' and ‘Charity'. Every time you receive money, whether it is a regular paycheck, a gift, tips, lottery, etc., put 10% of the amount in each of the 3 piggy banks. For e.g. if you receive $1000 every month as salary, then before you do anything else, put $100 in ‘savings', $100 in ‘investments' and $100 in ‘charity'. You have to manage the rest of the month, including paying all your bills, with the remaining $700. I know what you are thinking by now. Are you crazy John? What about all my credit card payments? I can hardly make ends meet; how do you think I can survive? And I have to give all that hard-earned money to charity? Are you kidding me? Calm down, now. You know what? If you are reacting in the mentioned fashion, then I can guess you are in heavy bad debt and are completely broke. Having said that, if you just can't manage to keep aside 30%, then try 3% to start with. Put at least 1% aside for each piggy bank and when you situation improves increase it steadily to hit the 10% mark. By all means, if you want to put in more than 30%, please feel free to do so. Good for you! Another way to approach this is to develop a daily habit of putting in money in each piggy bank. Robert Kiyosaki adopts this technique, and I adopt both the monthly as well as the daily. This is what you do. Everyday after you wake up the first thing you do, before going to the bathroom to wash your face or brush your teeth, is put $1 coin in each piggy bank. It can be any currency, any amount. If $1 is less for you, make it $5 or $10. The focus is not on the amount, rather on the ‘habit'. You have to develop this habit, which once developed will lead you to infinite riches. Now to the important question, what do we do with the money that we have kept aside? Here's what. The money in the ‘savings' is to be NEVER spent, EVER! Read the sentence again! This money is transferred to your children and your next generation. This acts as a psychological security knowing that you have enough money saved for a rainy day. This helps your mind to focus on abundance and not lack. This is serious stuff! The money in the ‘Investments' is to be invested in business, stocks, bonds, mutual funds, etc. The objective is to make money work for you. Please note that you can afford to lose this amount if suppose you lose the money in a sour investment. No problem! Learn from it and move on. You can use this money as your budget to run your home business (there is the answer to a commonly asked question). The money is the ‘Charity' is what the name suggests. You have to give it all away. Read the last sentence again. Read it again. I repeat, "You HAVE to give it all away". I would be very blunt with you when I say this, "This money does not belong to you. It belongs to the one up above who is watching you". You should use this money to help the underprivileged. Ensure that whichever charity you support shows you how this money is going to be spent. You will feel good knowing how your gift is being used. I personally support two charities. One is called Alpha Pain Clinic ( ) based in Kerala, India. This charity has been set up to support terminally ill cancer patients. The other one is called Tiwala foundation ( ) based out of Philippines. They take care of basic education for orphans and homeless children. The above method is a surefire way to get rich. It just works and before you know it the amount will keep mounting in each of these piggy banks. Stick to this habit for the first 21 days. After 21 days are over, do for another 21 days, and so on and so forth. Before you know it, you will be rich, have a bigger heart, will be known in your community as a generous and caring person, have a happier family, become more famous and come closer to your creator. Just don't forget one thing; teach it to others please. Give them a chance to change their life. God Bless John Bino ParentsINCorporated "Empowering people to increase their value to society
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