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Take time out of the money equation to live a life of abundance and wealth. There is an old saying: Time is money. We have all been taught to measure money by units of time. The only difference between an employee working for an hourly rate and an employee working on salary is the unit of time. It doesn't matter if you get paid by the hour or the year. You get paid according to the time you work. It isn't true that time is equal to money. Because time is always inflexible, time is much more valuable than money. No matter who you are, where you live, whatever your capacities and resources, you have the same 24 hours each day as everyone else even though the amount of money available to you can fluctuate. You can earn a higher salary, lose your job, get a raise, take a pay cut. Whatever the rate of income you earn, whether it is measured by the hour, day, week, or year, you have only 24 hours day each day and 365 days each year. In the Cash Flow Quadrant, Robert Kiyosaki explains the mindset difference between employees and entrepreneurs. I was intrigued by the difference. Kiyosaki divides people into the four quadrants of Employee, Self-Employed, Business Owner, and Investor. Kiyosaki groups employees and the self-employed on one side the quadrant and business owners and investors on the other side. What kind of mindset shift is necessary for employees and the self-employed to move from the left side to the right side of the quadrant? The big question is: How do people start to think the way entrepreneurs think? The mindset shift is to take time out of the money equation. Whether you own a business or work for a wage or a salary, if you trade time for money, you have not made the fundamental entrepreneurial mindset shift of a Business Owner on the right side of the Cash Flow Quadrant. You have not separated time from money. The commmon characteristic of employees and self-employed people is that both types of people trade their time for money. This means that the amount of money you can earn is always limited by time. It doesn't matter how much your earn for any unit of time, your time is always limited, and so the money you can earn is always limited by time. This means that your income is always limited by time. When you take time out of the equation, money is potentially unlimited.
Article Source: http://www.financemanual.com
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