"If you want to get richer, buy a new car" say the authors of bestselling book Rich Dad Poor Dad. Everybody wants to be a
millionaire. But most of them are not willing to pay the
price, they say further. Find the price for becoming rich and pay it, it is as simple as it sounds. Ask any rich, famous, successful person and they tell all of them had and have challenges along the way.There are no free lunches. There are many ways to become rich. Marrying someone for money, betting at casinos, being a big bully and crooked are some of them. Each has its own price to pay. One can also become rich by being cheap. But life would look cheaper rather than generous despite millions in the banks. Money gurus tell to cut up
credit cards, buy used cars, live below one''s means. But each has its own price ready to be paid.And finally the price of becoming rich by being cheap is that it still leads to paying an expensive price. It also means that'' live poor and die rich''. We also have to pay a price for seeking security.Good grades count in class but financial statements count in life says the author. Therefore it is not the credit card but the financial illiteracy of the person holding the credit card that is the problem. Willing to make mistakes and the most important one is be wiling to pay whatever the price it demands. Pay the price to become financially literate. We need scholastic education which makes us to read, write, speak and do arithmetic. We need professional education that teaches skill to work for money. And a final one, financial education which teaches us to make money work hard for us.Through cash flow game, managing earned income, passive income and portfolio income one can sure be on way to being rich.According to Robert Kiyosaki, cutting up credit cards is much like a person who needs to loose weight and goes on crash diet which finally leads to being more heavy. At one point the author says that ''rich have more debt than the poor''. He further discusses concepts like converting bad debt into good debt, harnessing the power of debt, to get richer buy a new car, the importance of standard living and summarizes the lessons learned in this chapter of price of cutting up credit cards.In the final chapters, the authors give tips to gain control over one''s expenditure, financial statements and discuss ways to reduce bad debt.