This book is a little over 20 years old now since it’s first publication in 1997. It’s a book that’s does not immediately catch your attention but for some reason, knows exactly when to find you. Eerie, right?!
I’m recommending this book for 3 specific reasons:
1) Start taking charge of your life
3) Financial Literacy
A while back, I found myself in a position I thought I would never find myself in – jobless. I became desperate for a way out. I knew I could change my circumstances but I was so unsure HOW. That’s such a simple word yet has SO MUCH attached.
“How do I get back on my feet?”
“How do I get out of this problem?”
“How do I manage all this stress?”
“How do I (fill in your own issue)?”
Can you imagine the responses you could populate back? But how do you know it is the right way or answer? I can tell you, you WON’T know. But it’s worth finding out.
“I am my own solution”, I told myself. “I am blessed with a brain – the most POWERFUL resource in my possession. I can do something.” So, I decided to take matters into my own hand.
I started looking into a small business venture. I began working in crochet craft then a mix of jewelry making. I know it’s a little bit funky, but at the time it was the least cost of materials that would yield more product output (for someone who had no income). Additionally, it was a skill-work. I could use my crocheting knowledge/skill to earn a small income.
For example: 1 roll of medium weight yarn is average $4.00. 1 single crochet hook was average $3.00. So my overhead would be $7.00 or so, plus tax. Say, if I made 3 baby beanies and sold them for $3/ piece, I could make $9.00. But that is before adding the 1-2 hrs to make it. So, for $3/beanie x 3 beanies is $9; then split that to the 2 hrs time to make it, I’m making $4.50 per hour. That’s a pretty rough earning margin. I’m not even making today’s minimum wage of $11.00*.
Separately, if I were to continue, I would only make a $5.00 profit from the initial overhead cost. I would be spending $4.00 for yarn that could make 3 beanies thereafter (as I would not need to buy another crochet hook.) I’m losing $4.00 every new batch of beanies. Now before you get ahead of me, keep in mind that merchandise doesn’t go flying off. They usually sit until purchased. So making money from this would be very slow.
Soon, I realized the material cost, the time it took to create a one of a kind item, time to list the item, and pricing was so unequivocal that I wouldn’t make any profit at all. I would actually be losing; let’s throw in competition of other sellers in the same niche and I would hardly make a sale. This completely shook my outlook on business and life.
When “Rich Dad, Poor Dad” crossed my path, I was not in a “research” kind of mood. I was actually disheartened with the (small but impactful) understanding what actual small business owners must go through that I felt it was almost NOT worth the crazy input of time to figure “it” out. By “it”, I mean, how to make money asides from a j-o-b.
The introduction of this book – it was like Mr. Kiyosaki KNEW my exact predicament yet had never met me. He named my situation, “The Rat Race.” I nodded along, at every turning page, agreeing with just about everything he described about being in The Rat Race.
The logic of this book is so simple. It shines a light on the issues you deal with on a day-to-day basis. The amount and years of wisdom speaks volumes to the truths of what every person experiences. Why we struggle, why the wealthy stay wealthy, why a poor mentality is damaging to your life especially when you rely on a typical 9-5, or a single salaried or wage based income, etc. It really opens your eyes.
When I finished this book – it was one of the rudest awakenings I’ve ever had. I felt mostly upset at just now having read what my heart and mind was trying to piece together. But I was also very thankful that I now knew where I truly stood on the financial scale and that now with a better understanding, I could move to the next step.
I decided to abandon my craft trade for something that resonated with my life motto of “work smarter, not harder”. If money was what I was wasting time earning, well I figured I might as well turn the table and make it work for me instead. So I did. (I’ll save that story for another day. 😁)
This is a book for everyone – especially those who know their true value in dollars. It’s time you start manifesting that paycheck you always wanted and planting those seeds that will reap more than your hands could ever hold. This book is definitely worth the read. 🙂
If you haven’t yet, I would love to keep in touch. Please follow me on Instagram @shesgoodcompany and follow my blog. ‘Til the next post! Xoxo!
*California’s minimum wage as of 2017; (https://www.dir.ca.gov/dlse/faq_minimumwage.htm)
(📷: Roman Trifinov)