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My First Attempt at Financial Statement

I have read Rich Dad Poor Dad, and it has certain effects on me. Alot of things are not working out right in my life. Fundamentally, its monetary woes that I have to deal with. I have bills to foot, daily expenses to take care of and also study fees. All this would add up to a huge amount at the end of the month. I have worked hard for the past few months on a few odd jobs to try accumulate enough wealth to see me through my studies. I am still short. Although, in the long term it might seem viable working endlessly for the sake of money, it just dawn on me that I am somehow trapped in a cycle. A cycle that I would not know how to break.

What I see
Basically, the work I do now paying by the hour, so basically the longer I devote my time and soul to work, the more I get. However, there is only so many hours a day can have. It seems that I have just reached a bottleneck. No matter how hard or long I work, the job only pay this certain amount and that's it. How do I break this cap? Why can't I earn more? Although I roughly understand the way society works, but I have absolutely no idea on how to break away from this rat race to work even harder or longer. It does not really make sense that I slog so hard so that others can take credit for my work.

I have done quite a few temporary jobs during my teen life and I have always been cleaning after someone. Companies just need to be more efficient and more consistent with how they handle things. The companies usually need me to help reorganize their store or information etc. for them, just because along the way, through the years, someone has been slacking on the job. Its pretty cheap to simply hire a energetic fresh guy from college or high school to clean the stuff up. Something is wrong somewhere with this pay by hour concept of rewarding people.

In an attempt to drastically change my own mindset of the current social trends and also to confirm my own skepticism, I have started this web log to track my financial path. Books by Robert have seriously change how I think about my future. Something needs to be done. I have taken my small little step in understanding myself a little more through the following tables.

Income Statement
Income/Month
Job One$54 x 22 days
= $1188
Job Two$18 x 22 days
= $396
Total$1188 + $396
= $1584

Expense/Month
Transport (Work + Others)$3 x 22 days + $10
= $76
Food (Work + Others)$8 x 22 days + $30
= $206
Total$76 + $206
= $282

Balance Sheet
AssetsLiabilities
Insurance
($113)
Phone Bills
($30)
Study Fees
($730)


The Math
Cash Flow Balance = In Flow - Out Flow
Income - (Expenses + Assets + Liabilities) = Balance
$1584 - ($282 + $113 + $760) = $429


429 is not exactly a figure that I am really proud of, but it is definitely a start. The next step would be to learn even more about what this Financial Statement is all about. If you are looking for inspirations, you don't have to read my blog, just go get a book by Robert Kiyosaki.

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