What I Learnt from Robert Kiyosaki at NAC2012

National Achievers Congress 2012 was held at the Singapore Expo last week end it was a great experience for me.

I picked up much new knowledge such as how to brand my business from the Parker Couple, how to improve my memory and reading speed from Nishant Kasibhatla, how to take care of my health from Dr Sundardas Annamalay.

However, if I had to choose to only remember one thing from NAC2012, it would be an
important lesson on investment from the keynote speaker, Robert Kiyoskai. When responding to a question “How can I save up money to invest when i can barely make ends
meet?”, Robert said this, “Always pay yourself first. If you earn $1000, pay yourself $300 first when you get your pay. Use that money to buy silver coins as it will force your mind to focus on purchasing assets and building wealth.”

This really impacted me as I realised that most people, including myself, have been only saving what we have left at the end of the month and more often than not, it would be nothing or close to it. My solution to this problem which forces me to pay myself first is by setting up an additional bank account. The account in which my salary goes into is my savings account and I have a standing instruction to transfer a sum of money enough for my expenses to my second account, which is my spending account and it is linked to my atm card. Using this method, I limit my expenses and can also keep track of it.

How about you? What methods do you use to ensure that you pay yourself first? I would love to hear your suggestions!

Advertisements
This entry was posted in Uncategorized and tagged , , , , , , , , , , , , , , , . Bookmark the permalink.