A life living in fear, worry, self-doubt, stubbornness and procrastination is a life lived by many people the world over. If the first thing you think of after the word 'Opportunity' is 'Not for me' than this post is for you. Please take heed of the following steps with tongue in cheek as it may not be for the faint hearted. Take care and keep building up your life monies!

If you are offended by the above picture or are homeless please talk to Steve Pavlina.
There is always hope.

1. Don't Worry About How Much You Spend

If you need something just go and get it. If you barely watch TV but your mate has the 80cm Plasma buy it anyway. Forget looking around for a cheaper item that is similar - so 'no' to the bargains. Do not write what you spend fortnightly on paper. Think of expenses as X and see how you go. Budgeting is boring, intrusive and down right annoying. Maybe go down to the pub for a few hours and down a few each night.

2. Use Plastic to Pay and Top it Up to the Credit Limit

If the bank told you it is okay to spend $5000 on your card then go for it. See it as a challenge to spend $4950 on crap. Just as long as you have that spare $50 on it to get you out of trouble you'll be fine. And remember, don't pay it off each month and if the monthly interest is too much - transfer it to another credit card. Go on, you deserve it!

3. Savings Accounts are for Your Quarterly Holiday

The money you do put aside after bills, booze and tequila parties should be put into a low interest high fee cash account. Make sure you check it regularly so you know how much you have for your next travel destination. Jet set, spend big, be someone you are not for a week and spend the next 3 months paying for it. Remember, any unforeseen medical expenses or staff cut backs will only help you in your existence as a victim. Someone will help you out with money when your ride comes to an end - try family, friends or the government for a pay out.

4. You're Young so You Better Live Like a Rock Star

Drink booze and socialize. There is plenty of time to do boring investing when you're older. Stop setting goals and go with the flow. When you are 40 you can start saving and investing. Start buying 12 people rounds of Jager Bombs for $120. Forget investing 10% of what you earn when you can live from pay check to pay check.

5. Do Not Read Investment Books, Magazine or Watch Money TV Programmes

Forget learning about money - a topic which is both boring and tedious. Any extra money you have is better left in the bank or given to someone who says they know better than you for it. Give them control of your monies. In fact, screw investment strategies and start buying lottery tickets, picking the odd horse and gamble it on slot machines. The science of statistics will save the day - not your savings account.

6. Live the High Life and Beat the Jones

If Freddy down the road has the new Chrysler 300C beat them the punch and buy a Porsche. Driving past during the fleeting moment once a week when he is out in his front yard getting his rubbish bins is well worth the exorbitant interest repayments and the erosion of your home's equity. 

7. Choose Your Insurance Quickly

Shopping around for Insurance policies cuts time out of watching sitcoms and infomercials. Go with you gut and get the policy that first presents itself. Pay the premiums like the rest of the bills - your money pays bills first anyway. Be sure to get military conflict, flood, earthquake and cyclone cover even though you live in the peaceful Salinas Valley.

8. Live the High Life and Flash Your Money Around

Oops, you missed the morning bus due to your lack of organization and laziness. Catch a taxi and pay by card. If it happens the next day just say 'Oops... Taxi!' When you finish work and your fridge is empty forget the grocery shopping and eat out at the local Chinese restaurant for lobster. It's easier and tastes a lot better.

8. Choose Your Loans by the Extras

Refinance with XYZ bank and get a monthly cinema pass. Reading the fine print is a waste of time - only lawyers and accountants do that. The banks are out there to support your genuine interests. 

9. Be Stubborn and Never Learn Anything New for Your Job

Yes it's true. You can't teach an old dog new tricks. Stick to your habits and never step out of your comfort zone.

10. Be a Loyal Employee and Never Look for Greener Pastures

You put that tie on 5 years ago to get your job. In this current economic climate you better hold on to your job. There won't be any opportunities out there in the big bad workforce for someone like you. Keep your current work conditions and stop thinking about 'What's out there'

11. Be Blind to the Benefits

Save tax through leasing a car through your job? No. Cut back on the amount of tax you pay in exchange for completing 15 pages of paperwork? No way buddy. Home office expenses related to work? Well, it is a lot easier to pay with your after tax income from your j.o.b. especially when keeping receipts is time consuming.

12. Lack Belief in Your Own Self Worth

Your time is not worth much. What you do at work is nothing special. Forget asking for a raise and accept that you slave day in and day out and never expect a payrise. The life of abundance is for them silver spoon folk - not you.

Rich Dad Poor Dad by Robert Kiyosaki is aimed to motivate readers to increase their financial literacy. This first book in the successful Rich Dad series first published in 1997 and Kiyosaki hopes to impart financial wisdom through simply worded dialogues with ‘his real dad’ and ‘his rich dad’.

Robert Kiyosaki background before writing the Rich Dad series spans from joining the Marines as a pilot, to selling Xerox machines and to starting his own Velcro wallet company. No doubt his story is famous enough now for me not to bore you with specifics.

Kiyosaki raises important points in an easy to digest repetitive way. He does this by putting the reader in his shoes - A young kid growing up with a real father and his friend’s rich father. His poor father said and lived by the motto - study hard, get an education, get a safe secure job where the company will look after you, whereas his rich father would say - learn as much as you can, create your own assets to generate income.

He has decided to stick with six main points to reinforce and are delivered in lessons:

1. The Rich Don’t Work for Money - Not settling for a paycheck and a secure job but finding money making opportunities.
2. Why Teach Financial Literacy? - Kiyosaki clearly points out the basics such as knowing the difference between assets and liabilities through profit and loss/income statements and their rich/poor person derivatives.
3. Mind Your Own Business - Managing your personal finances and acquiring income generating assets such as self-running businesses, stocks and positive income real estate.
4. The History of Taxes and The Power of Corporations - A simplified introduction to Kiyosaki’s cashflow quadrant, being an employee/employer pros/cons and protecting assets in a corporate entity.
5. The Rich Invent Money - Changing your mindset to tackle financial problems, for example, buying real estate with little money down.
6. Work to Learn - Don’t Work for Money - Kiyosaki reinforces that the education is archaeic, use work to get the skills and experience you need to become rich and avoid safe stable in your comfort-zone jobs.

Fear. Cynicism. Laziness. Bad Habits. Arrogance. Kiyosaki’s five obstacles to getting rich after you’ve learnt financial literacy. I particularly enjoyed this part of the book. “Unchecked doubt and fear creates a cynic. Cynics criticize, and winners analyze.” Basically this area of the book motivates you to achieve and help tackle doubts, criticism and fear you may encounter on the way.

Image source and interview with Robert.

Kiyosaki tends to quote both what his rich and poor dad would say and then let the reader stew on these as he reiterates them several times. It is a drawn out process but does tend to convey the message effectively. His language is simplistic and at the rare times where he does get financially technical he has both dads reiterating in even simpler words until the point is driven home. Whilst reading the Rich Dad series his in-depth quotations of entire conversations with both his Dad’s does become frustratingly monotonous but bearable.

The underlying financial theory is great but if you are looking for specifics look elsewhere. The main reason I would recommend you read this is changing your mindset. If you have read this far you must want a financial change in your life. Rich Dad Poor Dad helps give you the mindset to continually expand your knowledge and embrace opportunities when they arise.

I give this book 4.5 out of 5.

Buy this book off eBay now!

Rich Dad Poor Dad by Robert T Kiyosaki Sharon L L    US $1.51

Rich Dad Poor Dad by Robert T Kiyosaki Sharon L    US $.99

Rich Dad Poor Dad ROBERT KIYOSAKI 2 Cassettes Audio NIB    US $.99

Rich Dad Poor Dad by Robert T Kiyosaki    US $3.00

Rich Dad Poor Dad Robert Kiyosaki Audio Book 3 Pack NEW    US $9.99

BUSINESS RICH DADS POOR DADS ROBERT KIYOSAKI 6 BOOKS    US $15.00

The three types of income are:

Active Income - Income for which services have been performed. This includes wages, tips, salaries, commissions and income from businesses in which there is material participation.

Portfolio Income - Income from investments, including dividends, interest, royalties and capital gains.

Passive income - Income received on a regular basis from a rental property, limited partnership or other enterprise with little effort required to maintain it.

Passive Income can be broken down into two types - residual income and leveraged income.

Residual Income

Income derived from sources which require your once-off direct involvement to set up but then pay out on a regular basis there after. Examples include:

• A marketing consultant who creates a workbook and sells it as an eBook online
• An insurance agent who gets commission every year when a customer renews his policy
• Royalties from publishing a book or from licensing a patent or other form of intellectual property. ie: A photographer who sells their photos photos through a stock photography clearinghouse and gets paid a royalty whenever someone buys one of his images
• An aerobics instructor who produces a video and sells it at the gyms where she teaches
• A network marketing or direct sales rep's income from her direct customers when they reorder product every month
• A restaurant or retail owner who has grown to the point of hiring a trustworthy manager

Leveraged Income

Leveraged income leverages the work of other people to create income for you. Some examples of leveraged income include:

• A network marketer who receives commission from each sale in their downline
• A eBook you wrote sold by marketers in your affiliate program
• A contractor who makes a profit by work done by sub-contractors
• Taking your business model and franchising it to other entrepreneurs

To read more about online sources of passive income check out my article at Blog Monies.

Other sources of passive income are:

• Pension
• Rental from investment property;
• Often portfolio income is labelled passive income

In order to sit on that beach sipping your mango shake without a care in the world you need to acquire passive income streams. The more the better. Yes, they take time to set up but seriously - Why work to make some other guy rich? Just remember, keep learning and apply these principles over time consistently and your bound to succeed.

Good luck and please comment below as to which passive income streams you have.

LifeMonies

Millionaire says,

1. "You worry about the Joneses. I worry about keeping up with the Trumps."

2. "Turns out money can buy happiness."

3. "Like my Ferrari? It's a rental."

4. "I was a B student."

5. "Taxes are for little people."

6. "You don't get rich by being nice."

7. "I have a concierge for everything."

8. "But I didn't get rich by skimping on lattes."

9. "I shop at Wal-Mart."

10. "You may think I'm rich, but I don't."

The best part about getting the millionaire mindset is that it's FREE !

Read the full article on MSN Money.