🔎 Disclosure: WE DON’T SELL ANY COURSES. Money Vice is reader-supported. When you buy through our links, we may earn a commission at no extra cost to you. The ideas presented on this site are opinions and are presented for entertainment purposes only. We’re not licensed financial advisors. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
1. Understand The Difference Between Assets And Liabilities
Everyone talks about money, but barely anyone explains the basics.
An asset puts cash in your pocket.
A liability takes cash out.
It sounds simple, but most people confuse the two.
Your fancy car? Liability.
Your rental property that pays you monthly? Asset.
You can’t build wealth if you don’t know which one you’re chasing.
Assets Create Income
When you own assets, you buy freedom.
The rich focus on stacking them up like dominoes.
You, on the other hand, might be chasing liabilities disguised as success.
That’s why so many people look rich but feel broke.
👉 Here's How You'll Do It: Make two lists right now. Things that bring in money (assets) and things that cost you money (liabilities). Focus on increasing the Asset Column and keeping the Liability Column as low as possible.
2. Build Wealth By Acquiring Cash-Flowing Assets
Cash flow is king.
Without it, your money sits still, and still, money gets eaten by inflation.
Rich Dad hammered this lesson: don’t just own assets, own ones that pay you back every month.
Imagine you wake up and your bills are covered before you even step out of bed.
That’s cash flow.
Money That Works For You
Think rental income, dividend stocks, or even a small online store.
You want money that shows up whether you’re working or not.
Cash flow buys you peace of mind, and honestly, it feels better than any bonus at work.
Ever wanted to sleep in on a Monday guilt-free? This is how you do it.
👉 Here's How You'll Do It: Pick one cash-flowing asset to start. Like a dividend ETF such as SCHD or Fundrise with its income-producing Real Estate Fund, to run the numbers and commit to buying.
3. Stop Thinking Like An Employee And Start Thinking Like An Owner
Schools train you to be a worker.
Get good grades. Get a job. Stay safe.
But Rich Dad says the safe route is the riskiest one.
Employees trade time for money.
Owners trade money for systems that run without them.
Owners Build Systems
When you think like an owner, you focus on scale.
Instead of one paycheck, you build multiple streams that stack together.
That’s how the rich escape the hamster wheel.
So, you want freedom? Stop thinking like a cog and start thinking like the mechanic who built the machine.
👉 Here's How You'll Do It: Brainstorm one side hustle today that can scale without you. Like creating a simple digital product on Gumroad or Etsy. And commit to testing it.
Bonus: Keep Learning Fast And Simple
Thinking like an owner means constantly upgrading your brain.
The problem? Life’s busy, and who really has hours to read every finance book cover to cover?
That’s where you need shortcuts that actually work.
Smart learners today use tools that break down big books into quick, digestible lessons you can apply right away.
It’s like having a cheat code for personal growth. Thousands of readers already use it to absorb top business and money books in minutes, not weeks.
Fast Knowledge Builds Confidence
The more you learn, the more you feel in control of your money.
Instead of waiting years to figure out the basics, you can power through lessons while you commute, cook, or even chill at the beach.
This isn’t about rushing. It’s about getting the wisdom without wasting time.
Knowledge multiplies faster when you make it part of your daily routine.
👉 Here's How You'll Do It: Download Blinkist, pick one money book summary today like Rich Dad Poor Dad or The Millionaire Next Door, and listen while you do something simple like walking or cooking.
4. Learn To Make Money Work For You Instead Of Just Working For Money
If you only work for money, you’ll always be tired.
Money is like a soldier. It should go out and fight battles for you while you rest.
When you invest it right, it multiplies.
When you spend it wrong, it disappears faster than cafecito at a Miami lunch break.
Money Is A Worker
Think of each dollar as an employee.
Send it to work in stocks, real estate, or businesses.
The goal? Build an army of dollars that pay your rent while you chill.
Ever notice how the rich always seem calm? Their money’s out hustling harder than they are.
👉 Here's How You'll Do It: Move even $50 into an investing app like Robinhood this week and set it to auto-buy index funds so your dollars clock in every payday.
5. Recognize That Financial Education Is More Important Than Grades
You were told grades equal success.
Straight A’s were supposed to be your ticket.
But here’s the truth: schools barely talk about money.
That’s why so many smart people end up broke.
Financial education, not GPA, decides your future wealth.
Learning Never Stops
You need to keep learning about money like your life depends on it.
Books, podcasts, courses. There’s no shortage of info.
The key is applying it.
Grades fade into memory, but financial knowledge compounds like interest.
👉 Here's How You'll Do It: Pick one book this week, like The Simple Path to Wealth, or use Blinkist to digest it fast and write down three money tips you’ll actually apply.
6. The Poor Will Only Work For A Paycheck
Here’s the trap: you work, you get paid, and then you repeat.
That’s the paycheck hamster wheel.
It feels safe, but it’s not freedom.
The poor chase security, while the rich chase leverage.
Paychecks Don’t Equal Wealth
When you depend only on a paycheck, your income stops the second you do.
The rich focus on assets that pay even when they’re asleep.
Paychecks are fine for now, but you can’t retire on them alone.
Do you really want to work until you’re 70 just for the next deposit?
👉 Here's How You'll Do It: Keep your paycheck, but put 10% of it into assets like index funds through apps such as Acorns so money flows in even when you don’t clock in.
7. Saving Alone Won’t Make You Rich
You can save every penny and still stay broke.
Why? Because inflation eats savings alive.
It’s like putting your money in the fridge. It just sits there while the world gets more expensive.
Growth Beats Hoarding
The rich don’t hoard cash.
They invest it to grow.
You need a balance: save for safety but invest for wealth.
Otherwise, you’re just the person with a fat savings account that buys less every year.
👉 Here's How You'll Do It: Open a high-yield savings account like Betterment Cash Reserve for your safety net, but put your extra cash into low-cost ETFs so your money grows, too.
8. Create Income Outside Your Job
Your job is not enough.
You need income that lives outside your 9-to-5.
That could be a side hustle, rental property, or online business.
If your job vanishes tomorrow, outside income saves you.
Multiple Streams Bring Security
Think of it as a money backup plan.
One stream can dry up, but three or four together? You’re unstoppable.
Ever met someone who lost their job and panicked? That’s what you avoid by building extras.
Freedom isn’t just about income. It’s about income from different directions.
👉 Here's How You'll Do It: Pick one new income stream, like freelance work on Fiverr or testing an e-commerce product with Shopify, and start building it today.
9. Prioritize Building Passive Income Over Active Income
Active income stops when you stop.
Passive income keeps rolling.
The rich prioritize passive because it buys them freedom.
The poor only focus on being active and staying trapped.
Passive Buys Time
Dividend stocks, rental cash flow, and royalties are classic passive plays.
The point is, money should flow even while you’re at the beach.
That’s why passive is gold. It pays you while you’re living life.
Active keeps you busy, passive keeps you free.
👉 Here's How You'll Do It: Use platforms like Fundrise to invest in real estate or buy dividend ETFs on Robinhood that pay you back while you sleep.
10. Value Experience, Skills, And Knowledge Over Just A Paycheck
Paychecks are temporary.
Skills and knowledge stay with you forever.
That’s why the rich focus on learning, not just earning.
When you gain skills, you create more opportunities.
Skills Pay For Life
Learn sales, investing, or coding, and you’ll always find income.
Jobs disappear, but skills adapt.
It’s like upgrading your personal money software. You become more valuable everywhere.
Your paycheck grows automatically when your skills level up.
👉 Here's How You'll Do It: Take one online course this month on a site like Coursera or Udemy that boosts your money-making skills and apply it immediately.
11. Keep Investing In Self-Education Beyond Formal Schooling
School ends, but real learning never does.
The wealthy treat education like an ongoing subscription.
They read, attend seminars, and pay for coaching.
That’s how they stay ahead.
Continuous Growth Wins
When you stop learning, you start falling behind.
Money changes fast. Crypto, AI, new markets. And you can’t afford to stay clueless.
Self-education keeps you relevant and ready.
Grades get you started, but ongoing learning keeps you rich.
👉 Here's How You'll Do It: Subscribe to finance podcasts or newsletters like Market Briefs and commit to one new piece of financial learning daily.
12. Understand How Taxes Work And Play By The Rules Of The Rich
The tax system isn’t fair. It’s designed for the informed.
The rich know the rules and use them.
The poor ignore taxes and pay the price.
If you want wealth, you have to play smart.
Taxes Favor Investors
Investors and business owners pay less in taxes than employees.
That’s not cheating. it’s using the system as designed.
You don’t need to love taxes, but you need to understand them.
Otherwise, you’re just handing over money you could keep.
👉 Here's How You'll Do It: Use a simple tax tool like TurboTax or meet a CPA to learn deductions and strategies that match what investors use.
13. Risks Are Needed For Growth
Safe feels nice until you realize safe is stagnant.
Every success story has a risk behind it.
The key is calculated risks, not reckless ones.
No risk, no reward. it’s cliché, but it’s real.
Smart Risks Build Wealth
Investing in your first property, starting that online business, or putting cash into the market all feel scary.
But those steps create the growth you want.
Comfort zones are broke zones.
Risk is the price you pay for freedom.
👉 Here's How You'll Do It: Pick one small risk, like investing $100 into stocks or pitching a freelance gig on Upwork and see where it takes you.
14. Wealth Starts With Small Daily Choices
Big wealth comes from small daily habits.
Every coffee you skip, every book you read, every $20 you save. it compounds.
You don’t see it at first, but years later it’s life-changing.
Daily choices shape your financial future more than rare big wins.
Habits Create Outcomes
The rich aren’t lucky. they’re consistent.
They make small smart moves over and over.
That’s how they end up ahead while others wonder what happened.
Wealth isn’t a single event; it’s a pattern.
👉 Here's How You'll Do It: Use a habit tracker app like Habitica or Notion to set one daily money habit. like saving $5 a day. and stick to it.
15. Focus On Buying Time Freedom, Not Just Material Stuff
Money isn’t about buying more things.
It’s about buying back your time.
Time freedom is the ultimate flex.
You can’t enjoy wealth if you’re chained to work.
Freedom Is The Goal
The rich spend on assets that give them time back.
The poor spend on things that drain it.
At the end of the day, freedom beats luxury every time.
Wouldn’t you rather have a free Tuesday morning than another gadget?
👉 Here's How You'll Do It: Write down your monthly expenses and compare them to your passive income, then set a goal to cover one bill with that passive cash.
📌 SAVE IT FOR LATER! 📌
And that’s it!
Never forget it…
🍔 A Fatter Bank Account Is Waiting For You!
😉 Dale!
