Robert Kiyosaki’s Money Moves You Should Make Before the End of 2023

©Robert Kiyosaki

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Throughout 2023, money expert Robert Kiyosaki has shared a wide range of actionable advice anyone can utilize to reach their financial goals. Some of these tips include, but are not limited to, the best ideas to create passive income, using the right tools to manage investment risk and much more.

Now that we’re in Q4, how much of Kiyosaki’s financial advice can you successfully apply to your financial journey before the year is over? Here are four money moves recommended by Kiyosaki.

Stop Adding To Your Credit Card Balance

Headlines were made throughout 2023 about Americans and their increasing amount of credit card debt. According to Fox Business, the average credit card debt balance is more than $6,000. 

On his Rich Dad blog, Kiyosaki defines bad debt as debt used to buy liabilities, such as cars or designer clothes. This type of debt ultimately makes you poor because it takes money away from you every month. He recommends Americans stop accruing bad debt immediately and work to pay off their credit cards. 

This may sound difficult to do with the upcoming holiday season, but it can be done. The simplest way to start is through disciplining yourself to use only one or two credit cards. If you make any new charges to them, Kiyosaki said, these must be paid in full each month. This helps to avoid incurring more debt and allows you to better strategize how you will pay off your credit card debt.

Get Into the Habit of Paying Yourself First

Several money experts, including David Bach, advocate for paying yourself first. If you haven’t gotten into the habit of doing it yet, there are still a few more months left in 2023 when you can start utilizing this best money practice.

The simplest way to make this money move is to allocate a sum of money into your asset column before paying for monthly expenses. One helpful technique to ensure you’re able to prioritize paying yourself first is to treat it like you would any other monthly expense. Each month, you need to invest in yourself first.

Make Mistakes: Yes, Really

Financial success requires more than making smart investments. Becoming rich is a process and it requires you to have the right mindset. If you find your mindset is one that is poor or middle class, Kiyosaki said you need to adjust to a rich mindset.

Before the end of the year, try easing yourself into a mindset where you fail fast and fail often. In this mindset, Kiyosaki said, you learn not to be afraid of making mistakes. You will be able to learn from the mistakes you make, determine how you can avoid making them twice, and then you can try again.

By utilizing this mindset, Kiyosaki said, you’ll begin to leverage the power of iteration. This is where you refine a process to meet and exceed your goals and experience success.

Create a Plan That Fits Your Dreams 

There isn’t a one-size-fits-all plan that allows you to experience wealth. Every person has a unique financial situation. They should not follow a plan designed for someone else because it does not fit them. 

Before the end of the year, Kiyosaki recommends creating a plan with your own financial goals and destination in mind. If your goal is to buy a house in 2025, for example, your plan might outline the steps you will take throughout 2024 to get there.

Remind yourself you can revise this plan as needed. Remember to share your plan with an accountability partner — a friend or mentor — to keep you on track toward your goals.

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