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The interesting thing about life is that, people who are considered to be uneducated have made their billions yet those who are well learned like doctors, accountants, engineers are still struggling with their finances. Many people have lived to wonder How the ‘uneducated’ have made their billions.

A good example of billionaire’s who have made billions without a degree certificate include people like Mark Zuckerberg, Facebook CEO, who left Harvard and currently is worth more than $53 billion. Research has recently shown that out of ten billionaires at least three did not have a degree certificate. This means that out of approximately 2473 billionaires in the world around 739 are without college education.

It is good to note that education is very important. Applying education and wealth creation basics is what has made the rest of the billionaires who are approximately 1773. So even as we look at how the ‘uneducated’ have made their billions, education is very vital especially when combined with experience in money matters.

Moving forward swiftly, let’s look at some of the basics that the billionaires with no college degree have applied to make the billions.

They understand the art of making money

Many people go to school earn degree and MBA but still some cannot even manage their own finances. The art of making money can never be learned in school. The art of making money requires one to know when to invest and when not to. It requires risk taking and need to move out of comfort zones. The basics of creating wealth require the simple rule of multiplication and addition, not subtraction. When you withdrawal you money from your account or business it’s not the same thing as adding. Additions means that you continue adding up your savings, multiplication means that you invest the money in a good project that will eventually give you returns. So if your habit is to take away, then you road to creating wealth will take long or you may never reach to your desired destination.

They know secret of keeping it low.

Imagine a situation of a fresh graduate who gets employed in a good institution and earns a six figure salary. The lifestyle of this young person will determine whether in the next 20 years he will be a millionare or a “poor “ experienced professional who only awaits for his pension to know exactly what he wants to do with his retirement package. If he chooses a flashy lifestyle that consumes all his earning , then it means all he will have to show out of his 20 years of profession will be a good house, that he paid more than double the original price through mortgage and few cash from his pension. Keeping it low does not mean you live like a pauper, but its means live at your minimum expense and save more to secure your future. In simple terms don’t eat you seed today expecting to harvest in future.

The rich understand the difference between Asset and Liability

The problem with many people today is that they buy tangible things and think they are assets. Many people including professional accountants will define assets as items or property possessed by an individual or business, considered as having value. Now the problem with this definition is that it even places item that derive money from us as assets. Let’s look at reality, a personal car is considered as assets, but in reality a personal car will depreciate in value and it will incur other cost like repairs, fuel, insurance etc. This means it will take away money from you. Unless you really can afford a car, buying personal car from loan or from your paychecks should be avoided unless you have other income. Many rich people did not rush and buy a million dollar car the first time they made a million dollar. Most invested back the money in their business and bought a car they would simply afford. As result many can now buy a million dollar car without struggling.

No billions can be made from your pay slip

People have always assumed that employment is not the way to go if you want to be rich. Looking at it in a different angle, employment in early stages of life is not a bad thing. It will give an opportunity to save up and start up a business you have always desired. The problem of employment sets in when you spend the rest of your life working for someone. They are people who don’t mind working for others which is not a bad thing, if all you want is a good pension at the end of 20 years or 30 years. If you want to create wealth, at some point in life you have to leave employment. Some take the risk and leave employment without a plan, but it’s not altogether bad to leave employment when you know at least your basic needs are well taken care of.

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