Did you know you can create an asset, in the truest meaning of the word, and have the proceeds pay your college tuition, or any bill for that matter?
The point is to get your degree with as little stress as possible and graduate debt free. When you can reach that goal and still have money to have a little fun, wouldn’t it be worth it??
Money is an interesting thing. It is a wonderful tool when it is used properly. Money was not created to sit in a bank somewhere collecting dust. With the interest you get these days, I feel the dust your money collects in these banking institutions are worth more. Tell me I’m lying. Money is called currency because it was made to be used. Constantly. When used as it should be used it’s power grows. I believe you know the story of the ten talents in the New Testament. The moral of that story is money is created to work for you. Yes you do have to work. However, no one ever said you cannot work to then turn around and have your money work harder for you. When your money works so well for you that you can pay all your over head bills, your tuition, and rid yourself of all debt, congratulations you have created an asset for yourself.
Most students are not aware that this is a reality they can take advantage of RIGHT NOW.
Question. If you were able to pay your tuition one shot and never have to worry about it again, would you pay it off? You are probably thinking, I don’t have the money to do that.
Question. If you could leverage other student’s loans and help them pay off their loans and their tuition while paying off your tuition and loans would you take advantage of this blessing?
Let’s build on the above plan. While making yourself a hero with your fellow students, you will be building an asset that will pay many dividends. This gift you give yourself and others. It is truly the gift that keeps on giving.
Most people don’t know the difference between an asset and a liability1. Your single family house your family is mortgaging
2. The Nissan Pathfinder you purchased and is financing at 567$ per month. It is beautiful, isn’t it?.
Question. Which of the above is an asset? Which one is a liability?
Nest question. At your school, everyone knows you are the fastest typist on this sie of the universe. You charge one dollar per page. For papers that are needed as soon as possible, you charge 5$ per page. Students pay you to type their papers as long as they know you are not responsible for any accusations of plagiarism. Not too shabby.
You get your own apartment on campus. A buddy wants to bunk with you. Your rent is 490$ per month. You strike a deal with him. He will give 200$ per month for the closet he is going to sleep in. That knocks two hundred dollars off the bill, and gives you financial wiggle room.
Which of the above is an asset? Which is a liability?
If you are not able to confidently answer those questions, guess what? Most Americans don’t know the difference either. That’s why Americans get into financial difficulties as early as the college years.
Is having a credit card as a college student a good thing or a curse?
Is the credit card in the student’s hands an asset or liability?
This is the way I understand Mr. Kiyosaki’s words. If an action puts money into your hands, generally it is an asset. As long a certain belongings takes money from you, you guessed it, it’s a liability.
Student, as soon as you understand this principle you will watch what little money you own now start to grow. It is a common misconception that when you make a large investment to own something such as a home or boat; it is known as an asset. Does it bring periodical income? Does that entity help off set any other expenses?
Is your job an asset or liability? Be very careful how you answer this question. Many people spend a lot of money to get to their jobs. Only to realize later the cost of travel and other necessities for work outweigh their work income.
I call the above post plan “a” for acceptable plan.
What’s your opinion?
I’d love to know.
Is the above plan acceptable to you?
Please do not say you are just a student.
You have no idea what your potential is yet.
Shoot me an email at the following email address. email@example.com