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Financial Planning and budgeting are often thought of as the same thing. There is a difference and for you to be successful it’s impotent you know them. One of the reasons I became an entrepreneur or business owner was because of Robert Kiyosaki.

I picked up the audio book series in a local branch of Waterstones (a large UK book store chain). In the series he talked about the fact people in the ‘wage system’ are actually in ‘rat race’. He invented a board game called Rat Race which is about how to get out of that rat race. Getting out of the rat race is about ways to earn extra money , in other words it’s about wealth creation.

As a person in a ‘job’ you will only ever earn as much as someone else decides what you are worth. In addition they decide ‘if’ you have a job. There are several ways to get out of the ‘wage system’ however that means moving into the ‘business system’.

Robert Kiyosaki’s latest best seller The Conspiracy of The Rich has one basic message. The education system was designed in the 19th century to provide ‘workers’ as opposed to entrepreneurs. In fact the excellent Napleon Hill in his book, Think and Grow Rich came up with a very interesting conclusion. He interviewed the 100 top millionaires, people like Andrew Carnegie the 1st Billionaire. Hiu aim was to find out why they were so successful.

His conclusion was that desire, creative thinking, persistence and the ability to adapt are all far more important than holding formal qualifications. In fact it was these successful really wealthy people who ended up employing the people trained to enter the ‘wage system;.

I decided that self employment work from home was the best way into the ‘business system’. This is financial planning as opposed to budgeting. Fiancial planning is about the future and how you intend to create and manage wealth. Once you become a wealth creator then you become financially indepedent. Financial independence is about the ability to do things you want to do as opposed to being told whether you can.

To achieve financial independence personal budgeting is fundamental. One of the best books on personal money management is The Richest Man in Babylon by George Clason. He outlines 7 cures to an empty purse, it is even more relevant today following the banking crisis and frankly unethical banking practices of the major financial institutions.

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