#BeMoneyWise: It isn't what we make, it's what we keep
Our latest #KTforGood campaign is an attempt to seek expert advice on how to stay rich - because it's easy to lose it
Remember Rich Dad Poor Dad, the classic personal finance book by motivational speaker Robert Toru Kiyosaki? It contains this nugget: "Most people fail to realise that in life, it's not how much money you make. It's how much money you keep." I personally became a huge fan of Kiyosaki with just this one statement (there's obviously more to the 72-year-old American businessman and author, but this just floored me). It is profound and deeply insightful. Our latest #KTforGood campaign titled #BeMoneyWise is an attempt to seek expert advice on how to stay rich (or at least not squander away what we have) - because it's easy to lose it.
I started off as a business journalist and have been privileged enough to meet some rich and some very rich individuals. Some of them started off with an opulent launch-pad while others started from scratch. Some had reached their position in the business world through sheer hard work and perseverance while some others were plain lucky. The one thing common in each of those individuals, however, was that they were practical with their wealth. We've all seen the headlines: 'Yesteryears' Lottery Winner Falls Upon Hard Times' or 'Six Athletes Who Went From Being Millionaires to Broke'. The fact is that money is definitely a problem for those who don't have enough to make ends meet, but it is a much bigger headache for those who suddenly get plenty of it and don't know what to do with it.
Assuming that we're all good at what we do and are getting better at it with time, one expects a regular rise in our income levels as we progress in our respective careers. But while we may have learnt our craft in college or through life, it only helps us in making more money with experience. Not much teaches us how to retain more of it. We end up boosting our spending with every increase in our income levels, be it with bigger cars or bigger residences in more affluent neighbourhoods or something else. We hope that KT's #BeMoneyWise campaign can put us back in charge of our finances and better equip us and the next generation to deal with the challenges of managing money.