Mad Mad Money_Feb2017

February 2017, Combating ’DEBT FATIGUE’’MoMand MeaydIssueno.5. without breaking a sweatREAL ESTATE IGNORANCEINVESTMENT OF MONEY VS. IS THE ROOT STOCK OF ALL MARKET EVILSCover story: WEALTH FLOWSYOU WILL NOT GET RICHBY PLAYING BY THE OLD FROM ENERGYRULES OF AND IDEAS!MONEYThe investor of today does not Why you needn’t get out of the credit card ...And Many More!profit from yesterday’s growth debt in a hurry pg. 16 pg. 18

MoMand Meayd Issue no.5Content 14_ Real estate 10 06 investment vs. Stock Combating ‘’Debt market Learn to Fatigue’’ without manage breaking a sweat 16_The investor of your money or your today does not profit money from yesterday’s growth will manage you 18_Why you needn’t get 12 Cover story: out of the credit card debt in a hurry Ignorance 08 of money is 20_ Moneygasm 2 the root of You will 22_ Wealth flows from all evils not get rich by playing energy and ideas! by the old rules of 24_ Prepare for bad money times and you will always have good times 26_Top 5 Techniques to convert your Scarcity Mindset into the Abundance Mindset for Success 28_ The faster you can transact the more money you will make Neither this publication nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form of by any means electronic, mechanical, photocopying, recording or otherwise, without the permission of MadAboutMoney magazine. All information in MadAboutMoney magazine is checked and verified to the best of the publisher’s ability, however the publisher cannot be held responsible for any mistake or omission enclosed in the publication.2

MoMand MeaydEditor’s Note and self-attainment ofWelcome to this edition that we have about one’s true potential inof Mad Mad Money! money – both general life, and the source seed and specific. General of real wealth.Like every issue we mindset about moneyhave something includes beliefs like To conclude, Mad Madnew and unique yet it is the root cause Money is here to talkfundamentally crucial! of all evil and other about everything toSo, to start off I general aspects like do with money thatwould like to give one how it is to be looked at, draws your attentionstatement followed managed and invested. and passion, but in aby three questions. Specific mindsets different way, with aThink of them very about money on the slightly different touch…very carefully since our other hand include that unique magic wandissue this time will be our commonplace of mindset changecompletely based on thoughts about savings, that just makes all thisit, and who knows your investments, stock attainable in practicalfuture life as well! market, debt, etc. terms. Simply put, Needless to say, most of if taken in seriouslyWe are all mad about us harbor a lot of myths, and internalized withmoney. But how come false expectations, sincerity, it holds theonly a handful of us erroneous ideas and power to change livesactually make it big? basically have a very and destinies. Are you upWhy only some of us wrong mindset about for it? Keep reading andget to become great these specific aspects of keep getting rich!job creators from being money. This issue aimsmere job seekers? Why to change it all!can’t most of us havewhat it takes to become The current issue of Mad Sachin Mittalreally successful in life? Mad Money is all aboutWell, some attribute it the three buzzwordsto the luck factor, some Money. Mindset. Matterson hard work, some - taking up variouseven claim destiny, but aspects of moneywe at Mad Mad Money mindsets - both generalknow the real secret. and on specific issuesMoney is all about the to throw the covers offMindset and nothing the underlying myth andelse. If you can get the erroneous beliefs andmindset right you will uncover the real starkbe creating your own naked truth underlyingdestiny yourself and it all. The truth aboutyour luck would follow. how to make money. The secret wand for theIn this issue we talk riches. The uncommonabout a few common yet tried and tested pathand persistent mindsets towards true success 3

MoMand MeaydThe Mad Gang who makesit possible every monthVijendra Singh, Shravan Giri, Rajiv Ranjan,Manager Money Craft Creative Technologist Joint Creative TechnologistGiving a tight twist to money Tech at his fingertips Joining forces in troubleshooting Swadesh Mishra, Anubha Rathore, Dheeraj Kumar, Officer Out-standing Arts & Crafts Designer Chief Money Scientist The world in his pocket Designer craft creator Sees the glass half full4

MoMand MeaydAkanksha Mishra, Johny Chopra, Soma Ghosh,Associate Money Scientist Buzz Ambassador Chief Buzz CreatorHopefully optimistic Spreading the good word Creating the bigAbhijit Banerjee, Ahmed Ansari, Dillip Rout,Idea Ambassador Lord of the Ledgers Account-ability Officer Tight fisted…alwaysAn idea for a song… Wire | Digital Creative Agency Magazine designed by: 5

MoMand MeaydCOMBATING ‘’DEBT FATIGUE’’ without breaking a sweat6

MoMand MeaydWhen you commit Breaking reduced substantially if 04 to yourself to get down the debt you start off small, slowly out of a huge fatigue building the momentum Keep rewarding pile of debt and towards bigger items yourself every now wait until you’re The most immediate and then free from all the result, or you can say 01 the sign of debt fatigue, When people try to come stress – the whole is that the person starts Find social support out of debt, they curb their thing can seem overspending as a way need to overspend or in- like a marathon. to compensate for the It’s very easy to have a dulge in luxury. They start An exhausting time of financial depri- mental breakdown and suppressing their wants. one! Sometimes vation. This tendency to feel like a failure when And we know that any overspend more than the the debt continues for desire suppressed for a the pressure can person saved up is what a long time. Humans long time will one day bo- be too much is called debt fatigue. are social creatures. unce back with double the Therefore, it’s important force. The same applies and when that HOW TO AVOID to have a support system to curbing your emotions pressure is DEBT FATIGUE? to rely on for motivation. to spend the money. You Talk to people who are may hold it in for some stretched for a Trying to get out of debt going through same time, but after that - you long period of can be exhausting for situation as yours. Bank on will start overspending. To time, the debtor anyone irrespective of someone trustworthy and avoid this, keep rewar-starts experiencing whether you are paying dependable who would ding yourself every now burnout due to mortgages or student not judge your situation and then. Treat yourself the exhaustion loans. but will help you stay to a hearty meal at a nice that comes with Here are some surefire afloat in the middle of a restaurant or buy a pair curbing the desire ways to combat debt financial crisis. of shoes you have been to overspend fatigue and come out of eyeing for a long time. and save-up the the whole situation with 03 Doing so will convince flying colors: your subconscious mind finances. Visualize your goals that you are not making 01 any sacrifices. That way Arnold Schwarzenegger is you won’t feel the need Build the momentum the finest example of the to suppress your desires slowly personality who credits and end-up overspending visualization technique for after some time. In the words of Dave his immensely successful Ramsey – “paying off debt career. Learn from such Paying off debt is about momentum, not examples. Visualize the should not have to math.” motivation behind why be a challenge. It’s Start off with the smallest you need to pay off debts. an art. If you can item on the list. The Think about an exotic practice that art, you logic behind it is that the vacation you will be able will definitely be able smallest loans are easiest to enjoy or a house you to kiss your debts to pay off and just the can buy when you are out goodbye without the mere act of being succe- of debt. Keep reminding stress of it. Just make ssful is enough to keep yourself of such inspiratio- sure to follow these the person motivated and nal imagery. It will give you tips religiously avoid feeling like a failure the much needed motiva- midway. The chances of tion to keep going and not 7 giving-up halfway will be succumb to debt fatigue.

MoMand Meayd 1. Get out of the 2. Give respect addiction & get back theYou will not sameget rich by Some situations I cameplaying by across in life made me Many a times, I have feltthe old rules feel that I have become that money is the factorof money highly addicted to mo- that saves me. In sharp ney. When this realization contradiction, some situ- dawned on me, I exi- ations made me feel that ted out immediately to money is being highly understand what it really unfair to me. All these means to have money roller coaster rides taught and how I can become me that when I respect richer rather than an money, it reciprocates the addict to the same. It was same way by staying with an addiction that was me and multiplying in a easy to get out. rapid manner.Most of us tend to cling on to certain things ina particular way just because we have beentaught to do so. Particularly when it comes tomoney, we feel so unsafe at all points of timethat worries deprive us of the real pleasurethat money is capable of bestowing on us. Wefeel threatened when we lack money and rushfor accumulating the same without exactlyknowing the real rules of the money game.8

MoMand Meayd3. Financial people becoming rich by 6. Avoid being hing unless I do it withfreedom spending money hand- under money’s prudence. Again, this somely. I also noticed control prudence came from anLife’s ups and downs that they became rich by in depth understandingconstantly taught me the cutting down on areas Money had so much of about money and how itreal meaning of financial where they needed to, at experience in controlling works.freedom. The common the right time. I realized people’s decisions that Ibelief that having money that the new rule of the had to teach it a new le- 8. Stop running…in hand and spending on money game is not to sson. I decided how much start attractingwhatever we want to pur- lock it in the closet at I will spend, save, invest,chase or invest seemed home but to spend the insure with the money The first and last stepto a delusion. I realized same at the right time on in hand. When I started towards accumulatingthrough experience that the right thing. taking control over the wealth is to stop runningfinancial freedom, in rea- money I had, the financial behind money. Inste-lity, is the knowledge we 5. Let money do freedom I experienced ad, by taking prudenthave about money and the work was unbelievable. decisions about Money,how it really works. we can make the ‘omni- The next rule I had to 7. Knowledge potent power’ to stick to4. Not spending break was to stop wor- about money is us attracting the samewill not make king for money repea- highly important constantly.you rich tedly day in and day out. I started thinking of ways Investing money is not When I realized that theUnlike the yester ye- to make my money work just releasing a financial real meaning of moneyars where people were for me. When money instrument towards an and financial freedomguided by the belief started working for me attractive plan. I un- is knowledge about thesystem that the lesser through the prudent in- derstood that I cannot same and how it works inyou spend the richer you vestments I made, I saw become rich just by inve- the current scenario, it leadget, rules of money were it growing right in front of sting money on somet- to the realization that youchanging. I saw many my eyes. will not get rich by playing the old rules of money. 9

MoMand MeaydLearn to manageyour moneyor your moneywill manage youMoney is one of the prominent factors in life that decidesour fate. It is money that decides the timing of ourpurchases. It is money that decides our travel. It is moneythat decides what we should wear and eat, where we mustsleep and how we must spend our life. This remains thesituation many a times in life clearly indicating that moneyis in complete control of the same.10

MoMand MeaydThe ideal situation however would BUDGETING HELPS through your credit card be for us to have control over is a necessity or luxury A LOT which will delay your our money. Learning to manage decision by a few minutes, money so that we do not fall Preparing a budget month distracting you from the on month can be the next final purchase decision. under its control becomes highly logical step towards brin- important. Let us look at some ging your money under PLANNING ways we can do this. your control. Particularly FOR THE NON- after you have listed out MONTHLY BEING CLEAR your income, listing out COMMITMENTS ABOUT THE your expenses is essen- INCOME tial. For all you know, you One of the aspects that may not get a hold of the make many of us fall The first and foremost expenses right on the first apart from our regular requisite to have your month. Many a times, a life is the unanticipa- money under your control comparative look at the ted expenses that are is to clearly understand various expense heads irregular in nature. It your income. You may tends to give a clearer is always easy to plan be depending upon picture. Make it a habit to the monthly expenses a single income or maintain the expenses list since they are recurring multiple income streams which will automatically in nature. Non-recurring on a periodical basis. help you to ascertain the expenses like travel due A clear understanding areas which drag your to emergency situations about the quantum of money away from you or Medical emergencies your income, its source unnecessarily. The end of play a major havoc on our and its availability time the comparative analyses control over our finance. period will bring the due acts as the beginning of These are just a couple seriousness in you. The the healthy budgeting of situations that brings resultant attitude will be process us under the control of to exercise control over money and there may your expenses. APPLY PRUDENCE be more. We can take IN AVAILING control of our money if CREDIT FACILITIES we plan for such contin- gencies in a well thought Remember, while debit about manner. Living a cards help us use our own hand to mouth existence money, Credit Cards make is typically something us spend someone else’s that none of us want to money. If this understan- experience. However, this ding is deep rooted in the is the manner in which mind, we will start using most of us live simply our Credit Cards sparingly due to lack of planning. If and more so in a wise we live a life depending manner. Credit Cards help on the pay check every us buy whatever we want month, it means money without hesitation. is managing us from all However, it is we who possible directions. A have to pay for the same little bit of planning and when the payment is due. budgeting will change It is unwise to use the cre- your life in a dramatic dit limit just because it has manner. Learn to manage not been exhausted. Think your money or your mo- if what you are purchasing ney will manage you. 11

MoMand MeaydIgnorance of money is the ROOT OF ALL EVILS The common proverb that we have always heard from childhood says ‘Money is the root of all evil’, but I strongly disagree, as would any really successful person, who knows how important it is to have the right mindset for making it big in life, would. To me, the gospel truth was, is and always will be, that – ‘Ignorance of Money is the root of all evils.’12

MoMand MeaydTHE LACK COMES FROM IGNORANCE. IT IS THE IGNORANCE ABOUT MONEY THAT IS EVIL IN THE FIRST PLACE. WHY SHOULD WE BEIGNORANT ABOUT SOMETHING THAT WE NEED ALL THE TIME, ON ADAILY BASIS, WITHOUT WHICH WE CANT LIVE EVEN A SINGLE DAY?One point to note to be thought about! Yes, through an expensive sur- need all the time, on a here is that what how one thinks about ‘mo- gery, when your children daily basis, without which I’m saying is also ney’ or his/her mindset have been admitted to we cant live even a singlequite different from the towards it, is the crux of it good schools promising day? Precisely, for thecommon counter quote all…and the ignorance in a bright future, when you proverbs above.to the above proverb, that this respect…being unawa- buy chocolates and givegoes on to say ‘Lack of re as to the right way of them to underprivileged If children are broughtmoney is the root of all thinking about money, is children on Christmas Day up saying money is evilevils.’ Not that I disagree the one and only root of and see them smile…the and hard work will alwayswith that much, but my all evils. examples are endless. take care of you, thenpoint has rather a broad How can money be evil? what else do you expect?line of difference with this Money is the Rather, sometimes, or lets A general large chunk ofcounter statement as well. root of all evil – say most of the times, it mass all working hard andI am not talking about the Why that’s not is the lack of it that calls stuck in stagnation, doing‘lack’, but the ‘ignorance’ right the evil in. Starving people well but not doing great,about money. steal, people hard pressed and nobody really happy. Well, you can say that mo- for money for a close We need to change ourOf course, one can say ney has reduced the ethi- one’s medical needs or mindset, do away with thethat lack necessarily cs or value system in the children’s education resort ignorance, tell our childrenresults from ignorance, current generation and ar- to not so ethical means to that money is not evil butand precisely so, but that’s gue that focus on money earn a few more bucks. It something that’s nece-exactly my point – it is the has increased competition is always the lack of it that ssary and instill the rightignorance about money and reduced empathy and attracts evil. mindset towards it. That’sthat is the root cause of all sympathy and in general crucial. What money is,evil. Ignorance about what the softer emotions in ‘Ignorance of how to make it grow, howit is, how it is to be earned, people. However, show money’ is the to keep it, save it, spendhow it is to be saved, how me one person who is root cause of it and invest it are all cru-it is to be invested…and starving and is very happy all evil – The cially linked to your qualitymost importantly, how it is and focused on projecting difference of life and hence the key a good value system. The to your and your family’s fact that money is not, The lack comes from happiness. and can never ever be the ignorance. It is the igno- cause of evil can be plain- rance about money that is So next time you hear ly seen in times when your evil in the first place. Why someone say money is close ones might have should we be ignorant the cause of evil, you been saved miraculously about something that we might just want to snatch his wallet away and say ‘Friend, I just saved you!’ 13

MoMand MeaydReal estate investment vs. Stock market Some aspects of life remains unclear perpetually, causing concerns every now and then. We are neither allowed to move forward nor to stay put in thecurrent situation. One such thing that has always attracted us and at the same time been a threat is the ambiguities we face whether to invest in Real Estate or buy stocks.14

MoMand Meayd THE GOLDEN RULE Investing in Real Estate is considered as a safer one merely because the Both Real Estate and piece of land or property invested in Stock market require a is right in front of the eyes. lot of monitoring when itReal estate inves- comes to the appropriate in a Real Estate or in of the Company they tments are closely timing. It all depends on the Stock market, the are investing in. Many associated with our the happenings not only spade work that needs feel highly insecure to life since we have grown around us but globally. to be done is the same. invest in stocks since the up hearing our grand- Many a times, a global Monitoring the growth complete control is not parents speaking that issue can decide the fate or performance aspects in their hands. Co-Stock investing in soil is a real of our stocks and the fall of Real Estate and Stock holders who hold major investment. Stock Market of real estate prices. Abo- differs. Investment in Real number of shares decide on the other hand is ve all, it depends on the Estate is usually done on how much of the profit considered as something investment capability of with a long term goal in needs to be re-invested that is associated with the individual who really mind and so does not in business which may the upper class society need to take a call based need day to day monito- not be acceptable from for times unknown. on his financial elasticity. ring. While stocks can be a small investor point of profitable when held over view. This shakes them TIME FRAME for long time, constant up psychologically from monitoring as closely time to time Time frame is one of the as possible is the basic crucial aspects that in- requirement. THE REALITY fluences decision making pertaining to investing THE People invest in real in Real Estate or Stocks. PSYCHOLOGICAL Estate with a practical Investing in Real Estate ASPECT INVOLVED mindset that they will needs association with reap benefits from the genuine dependable Investing in Real Estate property only on a long network so that the pros is considered as a safer term. In the case of stock, and cons of the property one merely because profit remains the only to be invested in can be the piece of land or goal right from the time understood clearly. In- property invested in of investment. Many in- spection and paper work is right in front of the vestors fail to realize that pertaining to the property eyes. It can be touched, stocks that are traded for may require a lot of felt and shown to other longer periods of time physical effort and time. providing psychological provide more profit. The time frame to invest support to the concer- The decision to invest in as well as to reap the ned. When it comes to Real Estate vs. Stock Mar- real benefits is a highly investing in Shares, it is ket can really be taken extended one when it a considered more of easily, when the concept comes to Real Estate. On a concept though the of money and how you the other hand, investing investor holds a portion want to handle the same in stock can be an easy in understood clearly one and does not appear as cumbersome as in 15 Real Estate THE DIFFERENCE Irrespective of whet- her you are investing

MoMand Meayd“The investorof today doesnot profit fromyesterday’s growth”THE WORDS OF THEWORLD’S GREATESTINVESTOR - WARRENEDWARD BUFFET,WELL …WHAT A WISESTATEMENT THIS IS!16

MoMand Meayd HONESTLY, What does The statement “The investor OUT OF THE this statement of today does not profit from PLETHORA OF mean? yesterday’s growth” in simpleINVESTMENT TIPS words refer to those investors whoAND TECHNIQUES The statement “The think and believe that a stock’s ALL AROUND investor of today does not future lies in its past. profit from yesterday’s AND THE growth” in simple words What does question would be – then INNUMERABLE refer to those investors the statement which stocks or which who think and believe imply? companies to go for? CLUTTER OF that a stock’s future lies Which ones to trust that QUOTES FROM in its past. One of the Now, this is a different they would do well? My BIG SHOTS THAT most commonly held question altogether. The answer to this is prettyPEOPLE ABIDE BY beliefs and strategizing quote is a very simple simple – I always trust AND WANT TO mechanisms, or on which statement but it questions, organizations which are USE IT TO MAKE most investors base or rather challenges the fast in adapting to new IT BIG SOMEDAY, on, simply does not go basic fundamentals of technology and change A HANDFUL OF down well with me. I fail stock market investment with changing times. Or- FEW I FIND ARE to understand, rationally, patterns. The implication ganizations that might be REALLY TRULY that just because a stock of this statement, very new or old but which areWISE FROM THEIR has performed very well importantly, is that, inves- flexible. In today’s times CORE ESSENCE, sometime in the past, its tments can never ever be of rapid changes amidst AND ACCORDING future is not and cannot reduced to an excel sheet a constantly changing TO ME, ONE OF be assured. It’s almost or a database. So the act dynamic marketplace with like betting on a cricke- of ‘thinking’ can never cut throat competition, it is THEM IS THIS. ter on making a century really be substituted. One only organizations that are every time just because needs to rationally or on their toes all the time he made a century once. logically ‘think’ and assess and technologically at par Does it sound rational? stocks in order to make with the times, which are I know most of your investments instead of going to perform and do calculations, intuitions, merely pouring in money well in future, not the ones gut feelings or even your just because it did well that might have done well ‘bucket list’ of stocks in the past. There are too in the past. basically depend on which many examples all around stocks have performed where stocks that have The trust in history well in the past. So we been major hits at one po- has become history can conclude that most of int but have simply gone now. In the world our investment strategies off the trajectory with time. of investments, the essentially depend on era of organizational history. In my mind, this is So which character and something which has alre- stocks to go attitude along with ady happened and which for? a look towards the really has no guarantee of future is what is the occurring again. If you stop relying on past call of the day. data and performances of stocks, the next natural 17

MoMand MeaydWHY YOU NEEDN’T GET OUT OF THE CREDIT CARD DEBT IN A HURRY ALMOST ALL FINANCE EXPERTS SAY THAT CREDIT CARD DEBTS ARE BAD DEBTS AND IF YOU HAVE ONE ON YOU, IT’S DEFINITELY A SIGN OF POOR PERSONAL FINANCES AND YOU NEED TO GET OUT OF THE DEBT AS SOON AS POSSIBLE. WELL, I TEND TO DISAGREE SINCE I HAVE A DIFFERENT PERSPECTIVE TO THIS ‘CREDIT CARD BEING A BAD DEBT’ ASPECT ALL TOGETHER.18

MoMand MeaydCREDIT CARD his studies and his wife worth. Similarly, tagging all sole purpose should beDEBTS – Good or diligently rotated the credit card debts as bad to minimize your cost ofbad? household expenses acro- and assuming that they borrowing. It’s crucial to ss multiple low interest all come with high interest put your debt to good useHere’s the thing. Credit credit cards. Later on, rates and low benefits are and get the most out ofcard debts are neither my friend completed the being too simplistic. There our borrowed money, cre-good nor bad. It’s just degree and got a much are many cards which dit card debt or otherwise.money that one has higher paying job and was come with zero interest The three pointers thatborrowed. And assessing able to pay off the credit in promotional periods as you should always keep inany borrowed money, card debts in full. So you well as single digit per- mind are:rationally, to my mind, is see, if you assess the centage rate per annum.all about weighing how cost and the benefits of Interest Rate: Lookmuch it costs vs. what be- this particular credit card THE RIGHT for zero percentagenefits it gives you. Simple. debt, it was a good debt, QUESTION – Is the interest rate offers onNothing more nothing wasn’t ‘it? I refuse to look debt helping you? promotional periods andless. So, I disagree with at it as a bad debt merely keep a track regardingthe created over-hype because the debt was This I feel is the right que- when the promotionalregarding credit card on a credit card. Hence, stion to ask yourself when period ends.debts being bad debts. there’s no need to pay off it comes to debts andWe need not put any mo- your credit card debt in while calculating which Fees: While transferringral judgment on any debt a hurry. But what you do ones to pay off in a hurry. funds usually there isbecause of the form it ta- need to analyze however, For example, a person a fees that is charged.kes. We should know that is what the debt is for … might have taken a credit Keep note of theseit’s borrowed money and do you actually need it, is card debt as mentioned and the period ofthen do what we have to it for a long term benefit? above for starting a family time duration or no ofwith it accordingly. As I mentioned, credit business, renovating your transfers, etc factors that card debt is neither good house that you would sell the fee can depend on.SO CAN CREDIT or bad, the main focus at a higher price, or likeCARD DEBTS BE should be on whether it is my friend, to get a higher Balances: Needless to‘GOOD’ TOO? at all helping you or not. academic degree, all of say keep your credit card which would benefit him/ debt balance as lowYes, it most certainly can! THE WRONG her in future. There can as possible and borrowThere are examples of QUESTION – Is the be many cards which can only that you neednumerous families who debt good or bad? give you a loan, the peakhave taken up huge credit interest rates of which To conclude it can be saidcard debts but managed it This moralistic questi- are lower than personal that everyone has his/and rotated it all perfectly on on debts according loan interest rates. So her own style or strategywell to achieve what they to me is fundamentally these factors need to be to taking on and payingwanted. For example, I not correct. For exam- assessed in detail and the off debt. Make sure theknow of one such young ple, mortgage is usually prime question of whether minimum balances arefamily where the earning known as a good debt. the debt is helping you or paid each month andman wanted to go back But rationally speaking, not is to be answered. If a make higher payments onto studies and do full time all mortgages might not credit card debt is helping the cards having higherMBA but already had a be good at all. If someone me, then why not? interest rates. Most impor-wife and a kid to take borrows too much for a tantly, respect the creditcare of. He went back to house that he/she cannot THE RIGHT card debt – borrow only really afford, it can be OBJECTIVE – when you have purpose hugely detrimental to his Keep your cost and only when you need savings. Moreover, if the of borrowing to a to and if it benefits you price of the house drops minimum and you can work out a for some reason, then you minimum cost strategy to are gone. You would owe Once you have asked the it, there is no need to hurry more than your house is previous question, your and pay it off. 19

MoMand MeaydABILITY TO LIVE ON LESS THAN YOUR INCOME SITUATIONWell, in my mind, this is by far the most Moneygasmic situation to be in! Think about THE ATTITUDE,it…no matter how much you earn, and how many multiple income avenues you have, MINDSET OR LET’Sand where you invest in, and the returns you get from there, if you are in the habit ofliving on more than you earn, then you shall constantly be hard-pressed and strangled SAY…LIFESTYLEin the debt network. HABIT OF LIVINGThe attitude, mindset or let’s say…lifestyle habit of living on less than your income issomething that is worth cultivating, irrespective of your income. Take my word for it, ON LESS THANthis is perhaps the ONLY way to have plenty of income since as I said, no matter how YOUR INCOMEmuch you actually increase your income in rupee terms, if you end up spending more IS SOMETHINGthan that, then you actually do not really have the income right? THAT IS WORTHSo as much important as the ‘ability to search for ways to increase your income’ is, or CULTIVATING,‘how to multiply your sources of income’ is, the first and foremost Moneygasmic situati-on to aspire and work towards is the ‘ability to live on less than your income’. If you can IRRESPECTIVE OFmanage to attain this, you will end up way richer, with more income to save, invest and YOUR INCOME.spend and thereby, improve your and your family’s quality of life!20

MoMand MeaydEARNING MONEY FROM YOUR PASSION SITUATIONWhat other Moneygasmic situation in life other than To sum up some of the huge benefits that you get fromearning your living from something you love?!? Well, earning money from your passion:quite naturally, rated as one of the highest Moneyga-smic life aspects, earning money from your passion You will remain self-motivated, driven to your work andseems to top all charts in people’s list of dreams and never feel Monday blues if you earn from what you lovedesires in life. Financially speaking, there’s nothingbetter than having to do all the time what you love doi- You will excel easily since its your passion and henceng the best and better still, earning from it! success will come to you naturallyFor example, lets say you are a foodie...just imagine if Going deep into the work or expanding it further wouldsomeone paid you huge sums of money for eating diffe- be  always in your mind, you will think about it, andrent kinds of sumptuous food. Or you love to sleep and would excel in it, taking your work to a different levelsomehow could earn money from sleeping half the day! altogetherSounds crazy right...but these are just examples…peoplehave hobbies and core passions that drive them, moti- You will never ever suffer the boredom or the burn outvate them, make them dream, make them want to attain situation that bugs every other worker and hampersa higher level, make them want to create something...to their career growthaspire...and financially speaking, if your earning could besomehow tied to that, there’s nothing like it! Your life is If you are earning from your passion, your income wouldsorted out for you! passionately and consistently grow…the sky is the limit and the world is yours! Truly Moneygasmic situation at its best!  21

MoMand MeaydWealth flows fromenergy and ideas!This phrase in reality is a famous quote by celebrated Americanpublisher and author William Feather. The quote is thrownaround a lot but seldom do we realize the true meaning of it.22

MoMand MeaydNow let’s examine If you do not so on. Having a timeline How to grow this quote very see it in your always helps you to attain up and get rich closely. The quote head, you your goal and it gives you a does not say that wealth cannot see it in clear idea as to how many Let’s have a look at comes from doing somet- your reality. days you took to achieve it. some of the things hing related to money. It As time goes by, you will re- you can do if you are does not say wealth flows Let the ideas in your mind alize the timeline is getting a billionaire. You can from working extra hours, flow, work hard on them, shorter and you are making build your dream investments, winning a and watch how the univer- wealth much faster than home. Take for lottery or getting ahead se makes it real. What you your previous deadline. At example Mr Mukesh of others in life. It says, must need, is to have an the same time, don’t be a Ambani, who is worth wealth flows from energy “idea” that to achieve what person with a close menta- over US $22.7 billion. and ideas. you want in life and that is lity. Make yourself open to He decided to build To understand this con- the key to success. When other ideas and suggesti- his dream home in cept better let’s break it the idea is clear in your ons and more specifically Mumbai which is 27 down to a simple formula: head, you slowly and ste- make yourself open to stories tall, many of adily create a momentum opportunities around you. them double andIdeas & Energy to reach your goal. Wealth You must be fluid to chan- triple height. YouWealth and prosperity are a state of ging circumstances and can even buy an mind that can be achieved be ready to grab any open island in the Greek When we think of money by training your subcons- opportunity that is closest coast or the island and wealth and how to cious to welcome wealth to reaching your goal. homes in Dubai! acquire a lot of it, we with positive thinking rather You can indulge always confuse it with than following what others Robbing you yourself in the finest conventional methods of are doing to acquire wealth. out of your food. Beluga caviar acquiring it, rather than This state of mind creates energy and or Foie gras would sticking to the actual star- a flow of immense positive keeping you be at your dining ting point – the mind. Yes, energy that enables you from reaching table anytime you having a job or a business to reach the pinnacle of your dreams feel like. If you are is one way to earn money financial success. a meat lover, Kobe and acquire wealth yet Lastly, let go of people beef steak will be there is another level of Journey not and things that are robbing on your regular diet. wealth acquisition that in- as easy as it you out of your energy and You will be visiting volves acquiring the “idea” sounds keeping you from reaching only the Michelin- of wealth and prosperity. your dreams. It’s difficult starred restaurants Before jumping into the This particular journey to attract wealth when a around the world nitty gritty of wealth crea- however is not as easy as it negative force is dragging and of course you tion, take a step back and sounds. You have to totally you down. So, say goodbye will be able to taste understand the mindset commit yourself to your to naysayers and non-be- the world’s finest of acquiring wealth and personal “Wealth Attraction lievers of your plan. Most beverages. Not abundance. The journey Plan”. Take a moment on people think making a lot to wait for the ice like all other journeys, or your own and chalk out of wealth is a result of sheer cream van anymore, inventions must start from your pros and then commit luck, they couldn’t be more you can actually own the head. yourself entirely to plan out wrong. Your mind is your an ice cream factory how these pros will transla- own, you have to power along one’s that te to created\ wealth. Be to train it the way you makes chocolates. specific to your goals and want. So, train it to always give yourself a practical generate “wealth-acqui- 23 deadline. Write down how ring” ideas so that you are much money you want to always full of the “hungry make in 3 months, then 6 to succeed” energy. Wealth months, then a year and and prosperity will automa- tically follow.

MoMand MeaydPREPARE FOR BAD TIMES and you will always HAVE GOOD TIMES Ever heard of the old grasshopper and ant story? The one where the grasshopper happily hops around the land, merrily passing time while the ant works like crazy trying to save up for the winter. The grasshopper laughed and ridiculed the ant saying why is he working so hard in such a beautiful time? Can’t he just stop and make merry just like him? The ant smiled and kept on working.24

MoMand MeaydAlong came winter significant amount, but Be prepared for bad times so that when the ant safely not saving or investing you only know good times. huddled into his it anywhere. The mainhole, safely tucked in with reason for this might be HOW? For example, if you seefood for the winter. The that you have never seen the government is lowe-grasshopper on the other a bad time yet. Don’t get First and only step is to ring interest rates, youhand started finding food fooled, just because it’s “know” money. Those have to understand thatscarce as all the leaves not there now, doesn’t people knew how money this is going to put pre-were gone in winter. As mean it won’t be there in works and they also ssure on the rupee slowlythe winters grew worse, the future. knew that a financial bad lowering its value. In thisthe grasshopper slowly The problem with the time was coming. case, you should makestarved to death. grasshopper was that purchases in land and he didn’t think bad time REMEMBER, gold which usually losesLIVING THE LIFE OF would come, so he put a MONEY IS its value when such a si-A GRASSHOPPER little effort to save up for KNOWLEDGE! tuation arises. Now, when the bad time. So, when the market will come upUnfortunately, many of the bad time hit, he was Knowing about money, again, you already haveyou today are living the not ready for it. constantly updating fixed assets that you canlife of a grasshopper with yourself with it, gives you sell at a higher price thanan unflinching attitu- DON’T BE THE the edge over others. what you have got it for.de towards the winter. GRASSHOPPER! More you research and In a bad time, these areNone of you are working read and continually get the investments that willtowards a solid financial During the last great updated about money, pay you off.future that can withstand recession, many peo- more you understand thethe surge of a bad time. ple like you lost a lot of flow of it. Where is money IT STARTS WITHFinancially speaking a bad money. Losing money coming from and where FINANCIALtime can be a number of means losing everything its flowing, and it’s always EDUCATIONthings. A failed investment so, they lost their cars, flowing to new places.plan, recession, changing homes, retirement funds, So continually educate So, invest your time injob scenarios, sudden everything. But there was yourself about what is educating yourself. Knowcrisis, the list goes on. You another set of people happening in the market. about money, how doeshave to be absolutely cer- whose story was diffe- it work, know abouttain that these bad times rent. Not only they were markets and its highs andare inevitable and always safe from a financial bad lows. It starts with finan-lurking around the corner. time, they even made a cial education and thenPrepare a sound financial lot of money while the putting what you learnhome just like the ant and bad time lasted. into practice. Old ways toyou will be prepared to wi- make money like pennythstand the winter, in this by penny saving or ha-case a financial bad time. ving a stable job will not always hold up duringTHE PROBLEM bad times. Start buildingWITH THE a solid financial plan forGRASSHOPPER yourself today! Be prepared for badMost of you right now are times so that you onlyworking hard, earning a know good times. 25

MoMand MeaydTop 5 Techniquesto convert yourScarcity Mindsetinto the AbundanceMindset for Success THE REAL KEY TO THE SCARCITY automatically reduces bigger pay hike then no- BEING SUCCESSFUL, MINDSET: the portion of the same body else can have it, my thing for another. Hence, salary is a certain scarce BEING RICH, It is said that individuals people having the scarcity amount of money and if I IMPROVING YOUR have either of the two mentality have a tough don’t use it now it will ‘go different kinds of mind- time sharing anything in away’ for something else, FINANCES AND sets in life – the scarcity their lives, be it success, if I don’t travel now when MAKING IT BIG IN LIFE, mindset and the abun- recognition, power, profit, I’m young, I will never be dance mindset. Most of fame, etc even when the able to travel later, and UNLIKE TO WHAT the human race, globally, others have had a role to so on and so forth. This MOST OF US THINK, has the scarcity mindset play in his/her attainment mindset is not only of a internalized deep within. of it. This is simply becau- financial nature, it is a life ARE NOT AT ALL This means that most pe- se, these individuals feel mindset and impacts eachRELATED TO TIPS AND ople think that everything that anybody else getting and every thought or acti- in life is scarce and one a bigger share of the pie on that we think of or act TRICKS OF CHOOSING person getting something automatically means a upon. The main characte-THE RIGHT STOCKS OR lesser share of himself, ristics of scarcity mindset since the pie is scarce and individuals include: MUTUAL FUNDS TO there simply isn’t enough INVEST IN. RATHER, IT for everybody. So, for Focus on extreme IS ALL ABOUT HAVING example, some common short term since indivi- thought patterns for pe- duals think if something is THE RIGHT MINDSET ople having this mindset not done/got right now, it ABOUT FINANCE. includes – there can only will never be done/got in YES, THE RIGHT be one pay hike at work future since the resource and if one person gets a is scarce and someone FINANCIAL MINDSET else will get it. AND ITS CONSCIOUS CULTIVATION IS ALL THAT ONE NEEDS TO BE SUCCESSFUL IN LIFE.26

MoMand Meayd Ignorance of long term will never get it. Missing and achievements. Of both parties win. Makechoices since excessive a party doesn’t mean you course one cannot shift this a game that you playfocus on doing everything will never have fun in your to this mode in a day, but privately with yourself. Forfor short term hardly keeps life ever, etc. a gradual and conscious every situation that youany choices for the future. shift will create wonders in come across in life, think Positive Feeling your life and finances! about how you can solve Jealousy, stress and towards others since in- it where both the partiessadness resulting from dividuals have the deeper 2. are in a win-win situation.the continuous tension understanding that there is In no time, this will createregarding other people plenty for everyone to sha- Organize Your Home: wonders in your profes-getting more and myself re and enjoy. Thus, stress sional life. You will sharelosing out. is less, people are happier Sounds irrelevant but you together, grow together, and elements like jealousy, will be amazed to see how win together and achieve Bad Personal Finance power games, ego clas- organizing your home can way more both individu-Situation since indivi- hes, etc are minimal. make you feel how many ally as well as together.duals almost always stuff you already have!exhaust their paycheck Good personal finances Organizing home and fee- 5.as soon as they recei- since one doesn’t end up ling this vibe goes on tove it (before something spending money as soon help one organize his/her Stop comparingelse takes it away). They as they earn it. life as well in instilling the yourself to others:are bad at investing and abundance mindset.usually always end up So the important question One of the most importantblaming the system for now is, how does one 3. points. Scarcity mindset istheir bad personal finan- convert his/her scarcity about always comparingce decisions. mindset into an Abundan- Be aware of Media yourself to others, who ce mindset? Impact: got the bigger piece of theTHE ABUNDANCE pie. Abundance mindsetMINDSET: 5 Techniques In today’s world, media and on the other hand is only to cultivate advertisements essentially about comparing yourselfExactly opposite to the Abundance feeds on our insecurities to yourself and no onescarcity mindset in nature, Mindset: and reinforces the scarci- else- your own goals, yourthoughts, behaviour, ty mindsets we possess. own journey, how you areaction and of course end 1. Each and every advertise- living up to them, your ownresults, abundance mi- ments basically tells you growth and your own life.ndset is all about belie- Positive that you do not possessving that there is enough Conversations: something and subcons- To conclude it canfor everyone to share ciously develops the be safely said thatfrom. Hence, individuals Consciously convert your ‘need’ for it leading to the the above mentionedpossessing this mentality conversations with family, desire to purchase. One of techniques are allpossess a deeper sense friends and colleagues the crucial techniques in that one needs toof security and self-worth from cribbing about what developing an abundance firmly place himself/and are ready to share you ‘don’t’ have to what mindset is to be aware of herself in the pathpower, prestige, credit, you ‘do’ have. Engage in your own media con- towards attaining theprofits without haste. The such conversations as a sumption and reduce it as abundance mindset.three characteristics of habit. Stop talking to your much as possible. And once that issuch individuals include: friends or colleagues deeply ingrained about their problems in 4. in one’s day to day Focus on long term life and instead ask them life in terms of thesince not having somet- about what went well the The Win-Win Scenario individual’s thoughts,hing right now does not previous week. Focus on Game: behaviour, actionnecessarily lead to the the big things instead of and attitude…work,conclusion that you will the smaller ones. Projects Scarcity mindset belie- achievements, power,not have it ever in life. E.g being worked on, acade- ves that there is always a prestige, success,someone getting a better mics someone is pursuing, winner and thus a loser. money….everythingraise doesn’t mean you etc…personal experiences Abundance mindset on comes…in abundance. the contrary believes in win-win situations where 27

MoMand MeaydThe faster you cantransact the moremoney you will makeRemember, a faster turnaround time in a business means everythingfor its success. A healthy turnaround time is essential for survival of afailing business and making the failing business into a profitable one.28

MoMand MeaydEveryone of you here fast and clever is going right place, faster you will MAKING are familiar with the to make you sore high in see the return. More you AND MAKING tortoise and the ra- the financial world. My transact, more your sales MONEY bbit story. The one where advice to you today is be volume will grow, making a rabbit and a tortoise the rabbit, not the tortoise. your business surge ahe- STEP 1 gets into a race and as When you are set to win ad in exceptional speeds. soon as the race begins, the success race the only Making money is the rabbit wheezes past mantra you need to keep How quickly where you use your the tortoise giving himself in mind is: Grow fast or die business and capabilities, talent, a huge head-start. The slow! Speed here is the money are creativity, intelligence, tortoise however starts defining factor for your changing ingenuity, time, efforts walking with a steady financial future. to create something pace and slowly moves In today’s super-fast and The future is shining for that will bring in himself towards the finish uber competitive market those entrepreneurs who money over and over line. Due to the rabbit’s you have to act exceptio- understand how quickly again with minimal frantic speed, he beco- nally fast, putting yourself business and money are effort on your part. You mes tired and falls asleep in the right place and the changing, and who have are in charge here, you near the finish line. The right time. And remember, the ability and flexibility to are not dependent on tortoise keeps his steady never slow down! swiftly change and adapt anyone but yourself. pace and walks past the to the circumstances. You create a source sleeping rabbit to the fini- Exceptionally Association is also a key of continuous income sh line, winning the race. more money factor here. Associate and then just wait for The biggest lesson that rather than yourself with people who it to grow and multiply we were taught here was: transacting are in the habit of being – you are making “Slow and steady, wins linearly a fast mover. Don’t hang money in this case. the race.” around with people who Transacting your business believes in the “safe” way STEP 2Rabbit is the to unlimited customers to make money, workwinner and the 24/7 for example, can little, save little. Take the You can make moneytortoise loses make you earn exceptio- advice of the fast movers by inventing somet-the race nally more money rather rather than the safe mo- hing new that will find than transacting linearly. vers, and with no time you repeat buyers or you However, in the financial Many of the people arou- will inculcate the habit of can write a book and world the rabbit is the nd you today are suffering being a fast mover. keep getting royalties winner and the tortoise financially simply be- Remember, a faster tur- for life or you can loses the race. Being slow cause they are too slow. naround time in a busi- compose music, write and steady is not going to They can’t catch up to ness means everything a play, write lyrics, get you anywhere, being the speed of the money for its success. A healthy and get paid every moving in the market, rat- turnaround time is essen- time your creation is her like the tortoise they tial for survival of a failing performed. In today’s are going on their own business and making the world you can build little speed. The money failing business into a an online business doesn’t stop for anyone, profitable one. and once it is set up, it doesn’t rest, it doesn’t you can let it run by sleep, it doesn’t even take So, speed up your transa- itself and bring you a break. Why should you ctions, attain a great tur- monthly returns. then? naround and with no time Think fast, act fast. See an you will reach the pinnacle 29 opening, an opportunity of financial success. grab it. Invest immedia- tely, invest fast, invest intelligently. Faster you put your money in the

MoMand Meayd