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No, I will teach you to be rich.

Read this.
AOL Small Business: "Do what you love; Get rich"

Great stories about how turning what you love into your business can turn you into a very wealthy person. (My favorite: How one woman started a sports magazine for women that's growing like crazy, even after Sports Illustrated for Women went kaput.)

If you're doing what you truly love, there will be few others (if any) who will know their stuff as well as you, work as hard as you, or be willing to sacrifice as much as you to make things happen.

Makes me wonder...if I do what I love, do I even need to read stuff like IWillTeachYouToBeRich.com, FinishRich.com, and RichDad.com?

Yeah, I probably do.

But, although doing what you love is no substitute for financial literacy, I think it's a great complement.

I've noticed that the more specific goals I have, the wilder the dreams I come up with, the more conscious I am of what I spend my money on. Because committing to doing what I love gives me reason for my money. Every time I'm about to waste money, I can't help but think "I shouldn't do this. I could use this money for something I want more."

The finance gurus concur.

It's why every time I hear a story of someone saving money using David Bach's "latte factor," I hear about what they put that saved money toward...a mortgage payment, a vacation, etc.

And it's why Ramit at IWillTeachYouToBeRich.com asks people to figure out why they want to be rich in addition to tracking what they spend their money on.

Posted by Ian Ybarra on 29 August 2006