Posted in book review, Business, entrepreneurship, finance, inspiration, my library, personalgrowth, reading

Rich dad, poor dad: Book review 3) …go

Here is 1👉On your mark and 2👉Get set now to my final summary👏

4) Work To Learn- don’ t work for money
Workers work hard enough not to be fired and owners pay just enough so that workers won’t quit. Job is an acronym for Just Over Broke. If you want to be rich and happy, don’t go to school😏😏. I didn’t say that! Questions to ask oneself are “where does this daily activity take me?” What does the future hold?
Management skills for success that you need to equip yourself are:

  • Management of cashflow
  • Management of people
  • Management of systems

5) The Rich Invent Money
Inside each one of us is brevity, brilliance and daring character. Grasp the idea that money is not real. The idea in anything is to use your technical knowledge, wisdom and love of the game to cut the odds down to lower the risk. Skills of financial intelligence you need are:

  • Find an opportunity that everyone has missed
  • How to raise money
  • How to organize smart people. They should be more intelligent than you.

6) Know the History of Taxes and Power of Corporations
The idea of taxes was made popular and accepted by the majority by telling the poor and middle class that taxes were created to punish the rich. Masses voted for the law but in reality it wound up punishing the very people who voted it; poor and middle class. The Robin Hood deal make poor and middle class get taxed more.
People say you got to find your way through the corporate ladder. Why not own the ladder? Financial IQ is made up of 4 broad areas of expertise:

  • Accounting- ability to read and understand financial statements
  • Investing- science of money making money. Strategies and formulas
  • Understanding markets- supply and demand
  • Law- knowledge of tax advantages and protection of corporation.
    Hurray🙌 we are done reviewing the book. Take notes and buy the book if you can.

PS: Am watching CNN and house just passed bill to replace Obama care! Trump is happy for this first achievement. Well Americans what are your thoughts on this?

Posted in book review, Business, entrepreneurship, finance, inspiration, my library, personalgrowth, reading

Rich dad poor dad: Book review 2) …get set

Yesterday we did 1 in case you missed it 👉On your mark. Today we explore more. 

Most people live their lives chasing pay checks, pay raises and job security because of the emotions of desire and fear, not really questioning where those emotion driven thoughts are leading them. To spend your life living in fear, never exploring your dreams is cruel. To work hard for money thinking that money will buy you things that will make you happy, is also cruel. To wake up in the middle of the night terrified about paying bills is a horrible way to live. To live a life dictated by the size of a paycheck is not really a life! Thinking that a job will make you feel secure is lying to yourself.
Majority of us are in rat race. This is where you work for the government paying taxes, work for owners of companies, work for banks paying off mortgages and credit cards. You offered more money but continue the cycle by increasing your spending. Well my most valuable lessons learnt from Kiyosaki are here….get set….
1) The Rich Don’t Work for Money
If you want to be rich, you have to learn to make money. The poor and middle class work for money while the rich have money work for them. If you’re the kind of person who has no guts, you just give up every time life pushes you then you live all your life playing it safe, doing the right things, saving yourself for some event that never happens. So you die a boring old man, have a lot of buddies who really like you because you were such a nice hardworking guy. You spent life playing it safe, doing the right things but truth is you let life push you into submission.
Learn to use your emotions to think not think with your emotions. Use your emotions and mind in your favor not against yourself. Example: when you say I need a job it’s most likely an emotion doing the thinking. Fear of not having money generates that thought. Life is the best teacher of all. Most of the time, life does not talk to you. It just sort of pushes you around. Each push is life saying “wake up. There’s something I want you to learn.”
Poor dad said: I’ll never be rich, money doesn’t matter. Rich dad said: am rich, money is power, I don’t work for money, money works for me.
2) Keep It Simple Stupid(KISS)
People have been getting richer and richer, but in the long run it’s not how much you make; it’s how much you keep and how many generations you keep it. Students work harder but don’t get ahead. What is missing from their education is not how to make money but how to spend money- financial aptitude ( what you do with the money once you make it, how to keep people from taking it from you, how long you keep it and how hard that money works for you.)
Know the difference between an asset and a liability and buy assets. In short invest in more assets that generate income than expenses that take away from you. Have those Japanese powers that are most valued: sword(weapons), jewel(money) and mirror( self knowledge). Fear of being different prevents people from seeking new ways to solve their problems. Financial problems are caused by going along with the crowd and trying to keep up with what everyone is doing. There is need to look into the mirror and be true to our inner wisdom.
3) Mind Your Own Business
What is your business? I call it side hustle. Do not confuse profession with business. Hmmm how frequent we mismatch the two. The mistake in becoming what you study is that too many people forget to mind their own business.
You can mind this business by investing in real assets those that do not require your presence, anything that has value, produces income or appreciates and has a ready market. Examples of assets can be stocks, bonds, mutual funds, income generating and real estate, royalties, notes(IOUs) etcetera. Buy luxuries last not first. Did your hear me? Last!

3 more lessons to go. Yippee. Next we gonna look at our financial IQ. Yes we all got that genius factor. Keep it right here for that👐

Posted in book review, Business, entrepreneurship, finance, inspiration, my library, personalgrowth, planning, reading

Rich dad, poor dad: Book Review 1) On your mark

“Go to school, get good grades and look for a safe secure job,” our parents told us and even some continue to tell the bad advice even in this era. Old advice no longer works with the millennial generation who now know success no longer comes from good education and those gorgeous grades. Well, the child excels with good grades but with a poor financial programing mind set they end up in a rat race or a dairy cow ready for milking.
One day we got to arguing with my buddy who was astonished that I don’t like self help books. I do real motivational books from people I have had a rough idea about their lives I must have uttered out. That debate went further when we went to Two Rivers TBC and as I gazed at books he kept moving from one corner to another and I asked what he was looking for? He went to the business segment and too bad he didn’t find his treasure. Rich dad, poor dad was the book he really insisted that I should give a shot at. As a good girl I promised I would since this is the book that changed his mindset and he attributes his personal achievement to it. Now he is the CEO and founder of Freelance  Y’all who love writing and want to convert PayPal transactions to your Mpesa account he is the guy you need to hook up with (this advertising you doesn’t come for free Simon😉).
Any who, I got the book from a book club member and hallelujah!!! Just the sense I needed kicked in into my brain and a lot of you need it too. So don’t panic, we just getting started in lifetime lessons I gained from Richard Kiyosaki. Well my summary shall be subdivided into a number of posts probably 3.
Our financial genius is asleep waiting to be called upon. It is asleep because our culture has educated us into believing that the love of money is the root of all evil. You sick and tired of getting up, going to work, paying bills and the cycle never ends? Well here are 10 tips on how to prove your proficiency at both accounting and investing:
1) Pay yourself first- Power of self discipline.
Don’ t go to large debts positions that you have to pay for. When you come up short, let the pressure build and don’t dip into your savings or investments.
2) Pay your brokers well- Power of good advice. Find a broker who has your best interests at heart. They are professionals and the more money they make, the more money you get.
3) Need a reason greater than reality- Power of the spirit.
4) Choose daily- Power of choice
5) Master a formula and then learn a new one- Power of learning quickly. You become what you study.
6) The need for heroes- Power of myth. They make things look easy even when they don’t.
7) Be an Indian giver- Power of getting something for nothing.
8) Assets buy luxuries- Power of focus. To be the master of money, you need to be smarter than it.
9) Choose friends carefully- Power of association.
10) Teach and you shall receive- Power of giving. If you want to learn about money, teach it to someone else. (I guess am already doing the effect on you☺).
Fully equipped with the start ignition, shall we now look at how to drive this money thing?
1) Look for new ideas – investing ideas
2) Take a break and assess what is working and what is not working
3) Learn from history
4) Take classes and buy tapes
5) Know what you looking for and look in the right places
6) Jog, walk or drive a certain area once a month
7) Make lots of offers
8) Take someone who has done what you want to do. Ask for tips.
Hold onto that brake as this ride ain’t smooth as you think! Bumpy huh! Yes so rough. Obstacles come our way and in the money business it is even more risky.

1) Fear- Know how to handle it. That makes the difference. Many people want to go to heaven but do not wanna die. Many people want to be rich but are afraid of losing.
2) Laziness- This is by pretending or been busy. The cure for this is having some little greed. Greed😕! Yes when money speaketh you have to and be armed with the WII-FM slogan (What’s In It For Me.) Do what you feel in your heart to be right for you will be criticized anyway. You will be damned if you do and damned if you don’t.
3) Arrogance- Ego+ ignorance. When you know you are ignorant in a subject, start educating yourself by finding an expert in the field or find a book on the subject. (Ooh stop the know-it-all act! In my land we call one ‘mjuaji’ and in my mother tongue ‘ kimenyi’.)
4) Overcoming cynicism- We all got chicken little minds; unchecked fear and doubt that makes us play the “what if” game. Solution to this is by frying it!
5) Habits- Our lives are a reflection of our habits than education. Pay yourself first before the bank or government. It makes you financially stronger- mentally and fiscally.

Digest that first as next time we shall cover on the 6 lessons that make up the Rich dad, poor dad book. Be ready to know how the rich continue to be rich while the poor continue to be poor. At the end of this maybe you shall let me know if you think you are the rich dad or poor dad.
Happy New Month🎆🎇

Posted in development, economy, entrepreneurship, family, finance, parenting, personalgrowth

Lessons from my papa:Shares

Yesterday afternoon after church we were munching lunch when I started the usual business talks with my dad. Curious on why lately I haven’t been told to free up my schedule for companies AGMs ( I always stared at those books when he attended them and my eagerness was not on the financial part but on why women were company secretaries and not men then the math followed suit.)
“Is there a company holding a meeting soon?” I asked as I enquired if there were more blackbeans left. “I only know of Sasini on 24th March,” he replied.
“I see,” I replied waiting for an invitation to accompany him.
“Come with ksh 2,000.” Damn that is how you get invited. “What for,” I asked agape.
“To buy shares,” he replied. That got me thinking I had bought KPLC shares and that is when I again for the 100th time asked how this share thing worked since I was now becoming confused at some point.
“You have to sell them or buy more,” was the response I got from my business minded brother Kamau. ” Muheria I keep saying we need to invest while we still young,” he turned to thump up my younger brother.
“I have a hen, (i) 🐔🐣 mwera so you know,” I had to brag to my dad for the progress am taking. “I bought it,” the reassurance answer I gave him when he gave me the ‘ where did you get it from look.’ Am retiring to farming in the days to come so I have to start behaving like a farmer, newsflash!
Back to shares…..
My dad had to figure an easy way to teach me or else his share jargons would not work well with a daughter good at financial accounting( math part) but failed to fathom mathematics the subject. Humor me😕! Nyambu he started off as my brothers came in for this lifetime lesson. Like a good teacher he had to use a narrative☺. Here we go….
“If you want to tell one about shares, compare it to a dairy cow. The benefits are milk, manure, calf or on a rainy day one can sell the cow. Shares are like the cow. When companies get profit they share out these profits as dividends to shareholders according to the number of shares one has. However, the profit can be ploughed back or retained and this is what we call retained earnings which can be used as capital. ( At that point I remembered where I used to input retained earnings in the profit and loss account.) The dividend is the milk. Shares can be used as security to get a loan from bank or even when one is arrested and in need of a bond the shares can come to the rescue. Manure from the cow is security. Appreciation also happens in shares when the amount you bought it goes higher with time meaning if you to sell them, then the more you gain. This is where bonuses come in and companies decide to give let’s say one for every 2…by splitting the shares. The calf from the cow is the bonus. On a bad day and you in need of money, one can sell their shares but you have to have many of them to get good money. The same happens to the cow or calf that may be sold by the farmer when he is need of money.”
“What does it mean when people say shares are going under?” Kamau asks.
“When the state of the economy is bad like right now when there is drought, election fever you find shares that were going for ksh 60 per share been bought for ksh30. Depreciation. Actually that is the best time to buy shares when the prices are low compared to when they are high. Reasons been when the economy booms, the prices go high and as a shareholder you get to sell them earning you profit. The vice-versa happens when you buy at a higher price.”
“The first thing you need is an account?” Asks again my intelligent one
“CDS account,” I reply to him.
“I don’t have one,” my not so concerned younger one gets off from his phone ( what is it with phones this days?😐)
“You all have them,” my silent mum chips in.
“I opened them for you all, can’ t you remember?” My dad tries to make the younger one come back to the business world.
Armed with useful knowledge I head to my bedroom and thankful for the information😊.

(Next we have decided to ask papa on share transfers 😀).
PS: Share trading is a good way to gamble than those sport pesa bets 😉.

(i)Mwera-female hen that lays eggs.

Posted in economy, entrepreneurship, Lifestyle, planning

Bizarre Shopping

Am a very disappointed shopper. Supermarkets boom all over but as they try and satisfy consumers are they really ensuring that all goods are available? I do not know if in your country supermarkets go with class and by class I mean it’s all determined with the prices of goods. You find in one supermarket the same item is ten shillings cheaper in another and it all ranges on and on.

However, am not here to tell you in what stores to shop from but my agony of carrying three heavy paper bags from three different superstores. Now that I’ve been free lately I decided to do our monthly shopping on behalf of my mum. I have always wanted to do this and quickly jotted the things that needed to be bought and my brother been the lifting man off we went.

In supermarket one they keep restructuring everything. Since time in memorial I have never come to terms why they are always shifting things overnight and never settled. Who is their adviser??? Like seriously every time I go to this one I always get the urge to drop the trolley and run! This is my mum’s favourite store and she knows I hate it! From one shelf to another, floors to the next I took what was needed and voila I ended up not getting everything. More so, the prices due to their shifting were messed up and I had to constantly ask the attendants what the prices were to where I could get what I needed. Damn!

As consumers we like different brands of the same item and this took me to supermarket two. It is the cheapest in town, everyone likes it but it is small. How I pray they can expand in the future and the crowding and long queues can be over. They know their consumers tastes and preferences and their prices attract all walks of life. Yes I got some of the things here but not everything. Then my brother and I shared the “why can’t we get everything under one roof” look.

Two papers in tow it was time for superstore three. I have to confess this is my favourite of all where I even have a card to it. This should have been the place to shop but there is this myth with my mum that it is expensive and that is why she has never trusted me with shopping; “I know you want to shop there so that your card earns the needed points.” I tried explaining it is not expensive to even comparing different receipts from stores but she has never believed me. Well, too bad but in my house I will shop in this one. The only problem with this is that it lacks enough attendants especially when goods do not have prices to them and you have no one to question. Secondly, they only deal with certain variety of goods and getting some items can be difficult.

Next stop was the grocery stores and the trend kept repeating itself. It got to some point that I was already tired and shopping couldn’t be over without visiting my regular movie shop for a couple of series to unwind with. Back home I asked my mum if this was the torture she went through from one superstore to another and a big yes was her reply.

Fellow entrepreneurs why is it becoming difficult to find everything under one roof? It’s not all about making money but understanding consumers tastes and preferences. From that experience I am not looking forward to another shopping soon. Moving up and down can be really crazy!