If You Want to Be Rich and Happy, Don’t Go to School

I can hear the voices of critics chattering, criticizing the title of my writeup. Anyway, I still maintain, if you truly want to get rich, don’t go to school. But before I explain why I made the above statement, it’s important I say that people go to school to acquire scholastic education so as to earn good paycheck. After that, they go back to school for specialization simplifying ratios worksheet thus acquiring professional education so as to increase their paycheck. These two types of education are what are offered in our antiquated school system. It’s not that I’m against going to school but what I’m against is that our education system teaches people only how to work for money. It programs people to become slaves to money thereby getting them trapped in the rat race.Is Your Middle School Student Interested in Taking High School Courses? -  iCademy Global | Michigan-Accredited K-12 Virtual School

Our school system does not teach people about money, how to make money work for you and for your generations. This is the single reason why there are a lot of people struggling financially all their lives. Financial education is missing in our school system and most people are ignorant of this very important education. The few who understand it as well as practice it daily get richer and live happily. Most people who are financial literate learn it from other financially intelligent business owners or from their books, tapes and seminars. Or it could be passed on from financially literate parents to their children. This gap in our school system explains why I said; if you want to be rich and happy, don’t go to school.

Now, let me use my life story to explain more on this title. I came from a family where my parents were average income earners who struggled financially all their lives to survive. My dad retired as an administrative officer in the civil service after thirty-five years and took up the job of a branch manager in a newly started commuters’ insurance company, a job he worked for eight years before he died. My mum retired as a school teacher and she is currently living on our budget. There greatest investments were our education, their motorcycles and a house in the village. My dad was a public administration graduate while my mum was a National Certificate in Education (NCE) graduate. Both have scholastic education with some professional education but they lack financial education. Thus, they struggled financially all their lives working for money and never mind their business. Growing up, I was taught to go to school, study hard, get good grades and get a good and secured job with nice retirement benefit. Thus, I went to school and focused on my studies seriously and came out with a good grade in 2003. Then I got a job with one of the multinational beverage bottling and selling companies in 2007 after my NYSC. I never understand what financial intelligence meant until after working for three years. I got exposed to financial education through my association with a colleague who is financially literate. Although, he does not like taking risk rather he plays it safe but he minds his business. I started reading books, listening to tapes and subscribed to RichDad.com newsletters. That was the beginning of my journey to financial freedom.

Financial education is learning how to read numbers and the numbers tell the story in your life. It is learning how money works and how to make it work for you. It is learning how to mind your business even when you are still minding your profession as an employee. Financial education helps you to understand the income statement and balance sheet. An understanding of these two and practicing what you know will overtime make you rich. Income statement shows your income and expenses columns while balance sheet shows your asset and liability columns. The fact remains that if you are working for money; your focus will be on your income column but if money is working for you, your focus will be more on your asset column. Working for money means that you are working to earn a paycheck. For such a person, his concern is on earning active income which is otherwise known as linear income. Active income is money that is paid to you for doing a certain work. It requires you to work and you are paid for the time you put in. For instance, an employee works for eight hours per day for twenty-four working days in a month and he is paid for the time worked. Again, a small business owner is paid based on the profits he made on the merchandise sold or services rendered during the hours he put in his business. An expert/specialist is paid based on his charges for the hours he worked. These are all active income. You worked and you get paid. You get nothing the moment you stopped working. You cannot be financially free from active income. I’m not saying that earning active income is not good but what is important is how much of your active income is working for you in your asset column?

Don’t forget that I said earlier that you should mind your business while you are tending to your profession as an employee. It is important you know the difference between your business and your profession. For me, my profession is selling beverages while my business is network marketing. You should learn how to mind your business. To mind your business, it means paying yourself first each time you earn an income. That is, investing in real estate, paper investment (stock, bond, Treasury bill, mutual fund or bank deposits), automated business, intellectual property or network marketing. There are two different kinds of personalities when it comes to minding your business. First, those who are afraid of taking risk thus they play it safe. Second, those who learn to control risk and they play it big. Most people belong to the first group. These people invest in mutual funds, bank deposits and other investments offered by investment (salesmen) brokers. The second group is the few super rich persons who through constant education and practice learn to control risk and play it big. They learn to pick their own investments and they build businesses where others work to earn paycheck while their businesses pay them rich passive income.

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