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MadMad

Money
March, 2017,
Issue no. 6.
MONEYGASM
WELL PLANNED
INVESTMENTS IN
ASSETS

FOLLOW IDEAS
YOUR WILL
MAKE YOU
DREAMS
and money will RICH
automatically
follow

LIFE IS
Cover story: A STRUGGLE
WITHOUT
EVEN GOOD FINANCIAL
LOANS TURN EDUCATION

BAD AND CAUSE NOT HAVING


FINANCIAL THE MONEY
DISTRESS IS ALSO A GREAT
OPPORTUNITY

The rich trust their guts, and they 8 reasons why you dont have
are rarely wrong money ...and many more
pg. 14 pg. 20
Mad Mad
Money Issue no.6

Content 14

06
_ Ideas will make

10
you rich

16_Follow your dreams


Paying and money will
debts automatically follow
through Not having the
debts
can make
money 18 _5 unbelievable
is also a great money habits that
a deep hole opportunity millionaires have!

20_ Life is a struggle


without financial
education

22_ Moneygasm
24 _ If you want to be
considered successful,
invest in experiences

26_The rich trust their

12
Cover story: guts, and they are rarely
wrong

Your cars
and gadgets
08 28_ 8 reasons why you
dont have money

are not Even good


assets loans turn
Neither this publication nor any part of it
They are bad may be reproduced, stored in a retrieval
eating your and cause system, or transmitted in any form of by any
means electronic, mechanical, photocopying,
money financial recording or otherwise, without the
distress permission of MadAboutMoney magazine.

All information in MadAboutMoney magazine


is checked and verified to the best of the
publishers ability, however the publisher
cannot be held responsible for any mistake
or omission enclosed in the publication.

2
Mad Mad
Money

Editors Note
Welcome to this edition of Mad Mad Money!

Last edition we talked about how an individuals mentality


and attitude matter when it comes to being successful and
getting rich and what kind of money mindsets we need to
inculcate in order to make it really big in life! This issue we
will be looking more at the unique personality traits and
habits that rich people have and the various tools that will
helps you towards achieving those!

So, while the previous issue was more about concepts, this
issue fundamentally looks at how to get those concepts
into practice in real life. What are the avenues via which the
conceptual mindset gets channelized into real life habits
and personality traits that ultimately work towards getting
you to where you deserve to be!Starting from the habits
that rich people have, to the dreams that they see, the way
they generate their ideas to the faith they have on their
instincts, the role financial education plays to their traits
of dealing with debts, from how they buy their houses
and cards to anything and everything about the rich that
you always wanted to know, this issue is bound to be an
extremely interesting read with a range of topics that has
vast opportunities to learn from! My question to you all
would be that we are all mad about money, but to what
extent is your madness? How mad are you to make money?
This defines how ones destinies are finally crafted. Are we
ready to unlearn our pre-existing thoughts and habits and
inculcate the new to become something and someone in
life? Do we have what it takes to learn about the rich and
inculcate the same passions?

Mad Mad Money is here to talk about everything to do with


money that draws your attention and passion, but in a
different way, with a slightly different touch that unique
magic wand of mindset change that just makes all this
attainable in practical terms. Simply put, if taken in seriously
and internalized with sincerity, it holds the power to change
lives and destinies. Are you up for it? Keep reading and keep
getting rich!

Sachin Mittal

3
Mad Mad
Money

The Mad Gang who makes


it possible every month

Vijendra Singh, Shravan Giri, Rajiv Ranjan,


Manager Money Craft Creative Technologist Joint Creative Technologist
Giving 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 full

4
Mad Mad
Money

Akanksha Mishra, Johny Chopra, Soma Ghosh,


Associate Money Scientist Buzz Ambassador Chief Buzz Creator
Hopefully optimistic Spreading the good word Creating the big buzz

Abhijit Banerjee, Ahmed Ansari, Dillip Rout,


Idea Ambassador Lord of the Ledgers
Account-ability Officer
An idea for a song Tight fistedalways

Magazine designed by: Wire | Digital Creative Agency

5
Mad Mad
Money

Not having
the money
is also a great
opportunity
Sounds strange,
doesnt it? Hows this
statement even be true you
must be thinking? All of your lives
you must have heard that money
is the most important tool you must
have if you want to get rich and
successful. But let me tell you today,
even if you have less or no money,
it is still a great opportunity
for you to be even more
successful in life.

6
Mad Mad
Money

N
ow lets look at how
is this possible. Most
of you know that
money attracts money, and
to have a good return, you
always must make good
Remember, Failing to plan is
investments. Well, its true planning to fail.
for the people who already
has inherited or made
money. What about those about your strategies. And
who doesnt have either?
LESS MONEY
MAKES EVERY that saved money will
Does that mean the later
ensure more investments
can never make money PENNY VITAL
in the future.
because they dont have
Having less or no money,
lots of it now? Its quite the YOU WILL MAKE
means every little bit of
opposite actually.
your money is important GREAT FINANCIAL
LESS MONEY to you. You know the PLANS
worth of the money you
MAKES YOU MORE Remember, Failing to
have with you and you
CREATIVE will think hundred times plan is planning to fail.
Combine your lack of before you spend or invest Before you start looking
money with large amount it somewhere. I have for an opportunity to start
of motivation and inspira- heard from a lot of people a business or a career,
tion, and you will generate who has made/inherited planning must be your
an endless stream of money easily that they major goal. Money is not
creativity. And that is your have spent a lot of money the only thing required
first step towards succe- on things they didnt need to start something, there
ss. When you have fewer or want in the first place. is so much more that
funds, you have to think of They got pulled in diffe- goes into it. Lets say, for
lots of scenarios to make a rent direction, listened to example, you want to start
single situation work. It will so-called experts, and lost a new business. What you
force you to re-think your a lot of their money. require most is a business
strategies and brainstorm Im not talking only about model, a business plan,
about different approac- blowing money on mate-
an objective, the marke-
hes. You will start talking rialistic things or partying,
ting plan, the strategic
to your peers and friends Im also talking about all
partners, the customers,
about these ideas and start those business expenses
the providers, the list goes
getting a lot of perspecti- that werent necessary in
on. All these things require
ves from them, which will the first place. People are
proper planning even if
further help you to stren- always looking for deep
you do have the money.
gthen your idea. Folks with pockets and finding a way
So why wait till the time
money generally think they to rob them. This gives you
an edge above others. Ha- you have the money, start
have the upper hand and
ving lesser funds means planning anyways. Start
they lack trusted people
around them. So, most of you will think and re-think planning now!
the time they put their mo- hundred times before All the above pointers
ney without brain-storming making a purchase or an must stop you from thin-
much and that leads them investment, and that is a king that money is such a
to invest into wrong areas good thing. Not only you huge limitation to go ahe-
most of the time. So you will be making a right cho- ad. Build a solid strategy
see, you have the upper ice, you will also be saving today, so that when the
hand without money, rather a lot of money because money comes in, you will
than someone who does. you have really thought be more successful.

7
Mad Mad
Money

Even good
loans turn bad
and cause
financial distress

F
irst of all, a loan is a loan. A liability. Yes, you
can argue that there are good loans and bad
loans, the ones which you take to invest in some
asset including your own development that would
pay returns in the future vis-a-vis the ones you take
for entertainment and travel which are nothing but
just blowing up money without any returns. I take
your point, but stillloans are loans and even good
loans can turn bad and cause financial distress.

8
Mad Mad
Money

How can good loans 3.DURATION OF make it up to date to avoid


deemed distribution.
go bad? Here are a LOAN TERM:
few examples: 5.PAYMENTS
If the amortization of a
1.WHEN loan goes on for more DISCONTINUED:
than what it was permitted
LOANS ARE NOT Lastly, in some
then it becomes a bad
PERMITTED: loan by default and the
circumstances, when a
person can no longer
You might be applying for entire loan amount is a
afford to make loan
a loan which is categori- deemed distribution. For
payments he/she asks
zed as good and maybe example, if a plan issues a
the company to stop
plans are not required to loan for more than 5 years,
with holding, either on a
start with. But one must and that is anyway the
temporary or a permanent
be sure that the necessary regulatory limit, then this
format. The company
provisions for loan appro- defect cannot be solved
might or might not abide
val are included in the plan. by plan amendment
by the request. Even if
Plan sponsors might be for longer amortization.
they do in order to help
just approving your plan However, if a plan chooses
out its employee, the
without taking the effort to to limit all loans to 5
loan is very much default
see to the amendments years and then issues a
and might become a
required in it. However, particular loan, lets say a
deemed distribution.
issuing a loan where in residential loan for more
than that duration,than Even though loan takers
reality the plan does not
allow it can turn into a bad there is scope for plan borrow from his/her own
account balance, but for
loan since the loan amount amendment. YOU MIGHT BE
is immediately deemed as the loan plan, it is still an
4. APPLYING FOR A
distributed. NON-STARTED asset. So by voluntarily
PAYMENTS: discontinuing, the plan is LOAN WHICH IS
2. WHEN basically failing to ensure CATEGORIZED AS
REFINANCING OF Sometimes a loan is the pre-determined legal
taken that would be agreement between the GOOD AND MAYBE
A LOAN IS NOT
repaid later on by regular plan and the borrower, PLANS ARE NOT
PERMITTED: reducing the plan asset to
deductions form payroll. REQUIRED TO START
Many a times home Common example would decrease in value.
WITH. BUT ONE
owners wish to change or be an educational loan. So for all the above cases
modify their loan or get it However, lets say, the we see how a good loan MUST BE SURE THAT
refinanced. Not all plans payrollsystem was not may turn into abide one. THE NECESSARY
permit refinancing and set up or it somehow Hence financial education
PROVISIONS FOR
also most of the times the does not deduct the and thereafter financial
inability to refinance is also same. So the loan goes planning is crucial to avoid LOAN APPROVAL
not very clear. Long story to default. This does loans in the first place and ARE INCLUDED IN
short, when refinancing not make the entire even if going for a loan, to THE PLAN.
does not get permission, loan amount defective take into consideration all
your good loan might just though, the payer has till that which might suddenly
turn into a bad one. the end of the period to turn it into a bad one!

9
Mad Mad
Money

PAYING DEBTS THROUGH DEBTS

CAN MAKE
A DEEP HOLE
Do you know whats the reason behind take years to cover. But a more loans. Now, you
lot of you are in a condition are already feeling the
getting so deep in debt that you cant shame, you are weak
of being in a debt that has
even breathe? More debt. Yes, its as snowballed to such an and edgy, what you do
simple as that, if you incur more debt extent that it is impossible is accept the loan and
to cover previous debt, you are making to repay it in your current make your situation even
circumstances. What you worse. The pain part of
the worst mistake of your life.
then feel is shame. your life begins as you go
The shame comes from deeper and deeper into

M
the fact that you are now debt without a proper
eet Anita, middle- Has this happened to you
in a certain position in the plan to get out.
aged, confident, or someone you know?
society where people
well-to-do urban Because people like Anita
admire and respect you. THE SOLUTION:
wife, mother and hard are everywhere, drowning
For that you have taken a
worker. At this point in her in debt and cant get out of The solution is actually
loan, and now the loan is
life she is in a happy and it. And do you know whats quite simple. All you need
the reason behind getting unpayable and you take
well placed position in her is to have a timely wa-
so deep in debt that you more loan to maintain
society. Her colleagues ke-up call. What you need
cant even breathe? More that position which in turn
and friends admire her to do is firstly dont take
debt. Yes, its as simple as makes your debt more
most fondly and many debt you cant handle. No
that, if you incur more debt overwhelming. So, the
wishes to live her life just matter how much you get
to cover previous debt, shame basically makes
for one day. But the truth seduced by upper-class
you are making the worst you more vulnerable to
is all of this is a faade, living and have an urge to
mistake of your life. take more debt so that
if she rips her mask of buy things you cant afford,
your status-quo in society
stability and good life, stop yourself there. Take a
THE SHAME: is maintained.
what her friends and loan when its absolutely
admirers would see is a A lot of you are living in THE PAIN: necessary, dont take a
deep dark secret. A secret debts of varying amount. loan just for the heck of
that unveils the fact that Some of you might have What happens after it, no matter how easily
Anita and her husband is a debt of a year paying getting stuck with a its available to you. And
living dangerously close through your credit card for sizable debt is banks and even if you do, dont take
to the edge, completely a smartphone, some of you other financial organiza- another loan to cover the
drowned in debt. Does might have a sizable home tions providing you easy first one, pay one loan fully
this sound familiar? or business loan that will way out. And that is just and then go for another.

10
Mad Mad
Money

WHAT YOU NEED TO DO IS FIRSTLY


DONT TAKE DEBT YOU CANT
HANDLE. NO MATTER HOW MUCH
YOU GET SEDUCED BY UPPER-CLASS
LIVING AND HAVE AN URGE TO BUY
THINGS YOU CANT AFFORD,
STOP YOURSELF THERE.

IM NOT SAYING
DONT GO AHEAD IN
LIFE AND CHOOSE
TO LIVE FRUGALLY.
IM JUST SAYING
TAKE A LOAN WHEN
IT IS RIGHT FOR YOU,
DONT STRETCH
YOUR LIMITS. COVER
YOUR BASICS FIRST,
EARN SOME EXTRA,
HAVE A MORE
OR LESS STEADY
FINANCIAL FUTURE,
THEN GO FOR A
LOAN. AND MORE
IMPORTANTLY, PAY
THE FIRST LOAN
AND BE OUT OF
DEBT BEFORE
YOU JUMP INTO
ANOTHER DEBT,
BECAUSE THAT IS
WHAT IS GOING
TO CREATE A DEEP
HOLE YOU CANNOT
COME OUT OF.

11
Mad Mad
Money
as an asset. You have to

YOUR CARS AND GADGETS understand that I am not


against the convenience

ARE NOT ASSETS


of your car or your laptop.
Your car might take you to
a lot of places, or your lap-
top might help you work

THEY ARE EATING


faster, and both of these
activities might help you
earn more money, and
you can invest that money

YOUR MONEY
into meaningful places.
Again, the investment you
are doing is actually your
asset, not your car or your
laptop. The convenience
only helps you to invest
This might come to you as a bitter shock, but the fact of the matter is more, which is the asset
you are building.
the statement is 100% accurate. Your car, your super-cool smartphone,
your smart watch, your expensive laptop, is not in any way can or will be THE SENSE OF SE-
considered as an asset. These things will never be an asset to you, CURITY REAL OR
what it will actually do is burn a hole in your pocket. FALSE?
Do understand that I am
You might argue that how not against having a car
ASSETS VS down to the real reason
can a car or a gadget not or nice gadgets, I under-
why your car or your gad-
PERSONAL be an asset when you can stand the convenience
gets are not assets for you.
BELONGINGS The obvious and basic re- always sell it and get cash it provides you. I am just
KNOWING THE in return? You have to trying to remove the false
ason why your car or your
sense of security you are
DIFFERENCE i-phone is not an asset is it understand that your cash
in the bank is actually brooding in your mind,
depreciates in value every
Confused? Dont be. The your asset, the intention thinking your cars and
second of every day and
reason these are not of selling the car or the your gadgets are actually
driving and maintaining it
considered as an asset is gadget, which may or may assets, which they are not.
is eating away your wallet.
actually quite simple. Your not happen, cannot be It is also deluding you in
For example, your car is
car is not an asset is be- an asset. You might also thinking you are doing
constantly devouring your
cause it does not yield you argue that you might use well because of the kind
cash due to its constant
any income or appreciate the car or say an expen- of car you are driving or
maintenance, fuel, insu-
in value. The same goes sive laptop and borrow it the kind of smartphone
rance and other things. You
with all your expensive against some investment you are using. To maintain
can actually buy a property
gadgetries. So, unless you purposes. In this case as the image, you might be
with the money you are
are running a well-perfor- well, the investment you spending more on a car or
spending in keeping a car
ming taxi service or a cyber do becomes asset, not a gadget you dont need
and that makes more sen-
caf, these things are your car or your laptop. and might use it to invest
se because a real estate is somewhere else. You are
definitely not keeping your Some of you also may ar-
actually going to apprecia- also spending a lump sum
money safe, it is actually gue that in your nature of
te in value. annually to maintain your
eating through it. Finan- work your car saves a lot
cially speaking, your car or of time and you can visit car and your gadget, whi-
INVESTING IN
your gadgets will not be many clients in the same ch again you can save to
termed as an asset, they ASSETS OR day, or say your expensive invest wisely. Be wise, stop
will be termed as personal INVESTING IN laptop helps you multita- and think. Put your money
belongings. Now lets get CONVENIENCE? sk faster, so you deem it in the right place!

12
Mad Mad
Money

13
Mad Mad
Money

IDEAS
WILL MAKE YOU

RICH
FROM WHAT I SEE EVERYDAY, I FIND THAT THE NUMBER ONE PROBLEM
OF MAKING MORE MONEY TO GET RICH IS FINDING THE RIGHT IDEA. YOU
EITHER HAVE ZERO IDEAS OR JUST TOO MANY OF THEM, OR MAYBE YOU
DONT KNOW WHERE AND HOW TO START. TODAY ILL TALK TO YOU
ABOUT HOW TO IMPLEMENT A HABIT OF GENERATING THE RIGHT IDEA
THAT WILL GET YOU TO CLIMB THE SUCCESS TRAIN.

T
oday, instead to it a profitable one. The You cant identify an
telling you to find one idea that is already idea at all
the right idea, I there in the market, or You have too many
will tell you how you can someone you know is ideas and dont know
identify, validate, and their ides which might where to get started
test your own idea, that or might not work for
will eventually make you you. Why not use your Remember, to break
rich. Instead of telling you own, to create your own down these barriers
to figure out a popular success? As I said ear- and acquire the right
money making idea in the lier, there are two main money-making idea
market, Ill tell you to find barriers for you to make requires you to meet
your own idea and make a money making idea: 4 criteria:

14
Mad Mad
Money
Criteria 1: Criteria 3:
SHOWCASE YOUR MATCH YOUR
SKILLS: INTEREST:

This ones most Your money-making idea


important. Your money- must match your interest
making idea should otherwise you wont stick
match with what skills to that idea for long. You
you currently have. No have make sure that your
matter who you are, strength which you have
you have skills. Skills derived from your skills
you are born with, skills must match your interest
you have learned in quotient. You are gene-
school, office, college rally passionate about
wherever, just remember your interest, so you will
that all these skills are work hard to generate
important. You can be your idea because that
either good at math, or passion will keep you
a particular language, or going. Remember, its not
in good shape or have a just the job, its somet-
persuasive way to speak hing you love to do.
to people. All these are
skills. And you need to Criteria 4:
be face-to-face with HAS AN ACTUAL
them. How? Simple. Take MARKET:
a paper and pen and
time with yourself and jot After you figure out to
down your skills. Thats break through the third
the first step. criteria, you must make
sure that your interest
Criteria 2: area from where you
SHOWCASE YOUR want to make money,
must have a tangible
STRENGTHS:
market as well. In other
Your money-making words, people should be
idea must highlight your ready to shell out money
strengths. Strengths to attain your services.
are the qualities which The idea will only make
make you stand out of sense if there is a real
the crowd of people who market for it, people who
may have the similar skill are willing to pay for your
sets. How to find your product or service. Once
strength? Again, sit with all these criteria are met,
the list of your skills you and all these tick boxes
have jotted down and are checked you can
figure out, among all the validate that your idea
skills which skills you is a money-making one
have the most strength. and with the right amo-
Once you have done that, unt of passion and work
you are ready to proceed ethics you can reach the
to criteria 3. pinnacle of success.

15
Mad Mad
Money

FOLLOW YOUR DREAMS


AND MONEY WILL
AUTOMATICALLY FOLLOW

PEOPLE DO NOT CARE


ABOUT HOW MUCH
MONEY YOU HAVE.
WHAT THEY CARE ABOUT
IS HOW YOU MADE IT,

16
Mad Mad
Money

MOST OF US USUALLY SPEND OUR ENTIRE LIVES IN THE RAT RACE OF


MAKING MONEY AND UNKNOWINGLY FALL INTO THE MONEY TRAP. DONT
GET ME WRONG, I DO NOT ASCRIBE TO THE MONEY IS EVIL LOGIC AT ALL!
IN FACT I THINK LACK OF MONEY IS THE ROOT OF ALL EVIL.

03
will eventually succeed.
Now, when you have 04
a dream and succeed MONEY STATUS MONEY DOES NOT
in that, essentially you DOES NOT REALLY CREATE HAPPINE-
would be creating value, MEAN ANYTHING SS OR MEMORIES
value for others, and that
gives you the scope to Yes, your money status This might sound phi-
generate money. So you is actually useless, to put losophical but it is

M
oney is perhaps need to dream big in it bluntly. People do not definitely one of the
the most fantastic order to generate money. care about how much most crucial reasons for
resource to have, money you have. What chasing a dream instead
Dont be bogged down
being rich and making they care about is how you of money. When you see
by self-doubt. The skills
it big in life being the made it, the impossible fe- rich people driving fancy
to attain the dream can
epitome of success. But ats you have achieved, the cars, living in luxury apar-
always be acquired but
having experienced both kind of person you beca- tments, does it necessa-
the point is to change
poverty and wealth, from me, what you did with the rily tell you that they are
your mindset, dream big
experience I can tell you money, how much value happy in life when they
and go for it!
that if one is focused on you created, etc. Simply go to bed each night?
making money he/she
usually doesnt make it
02 put they care about
how successful you are.
Facebook and Intagram
MONEY COMES image perceptions often
ever. You need to follow And the definition of real hide many a rich but
your dreams and channe- AND GOES AT THE success is not just making lonely and unhappy souls.
lize your passion. Money BLINK OF AN EYE money but a whole lot of Making money has never
will automatically follow. other factors along with and cannot make memo-
Yes, thats my secret of Sad but true. The hard the money part. Hence, ries or create happiness.
being rich and in this ar- truth is that money can just focusing on making But if you are chasing a
ticle Im going to tell you 4 go as quickly as it comes. money would never make dream and focusing on
concrete reasons for it! So it is always better to be you successful. Achieving it forgetting everything
focused on your dream your dream can. When else, cross all hurdles to
rather than the money
01 per se. What I mean is,
Richard Branson comes in,
people recognize him and
achieve it and make lots
of money in that process,
REACHING YOUR your mindset should be look at him not because the feel of achievement,
DREAM CAN tuned towards creating of his money but because the inner happiness and
GENERATE MONEY value and not making they are impressed by self-worth of having crea-
AUTOMATICALLY money. If its not that way, the number of dreams he ted value is unimaginable.
then even if you were to has achieved. Long story
This point is rarely un- win a lottery, yet do not short, millions of dollars So Dream Big. Achieve.
derstood. See, when you possess the mindset to doesnt necessarily create Earn. Make Memories. Be
have a dream and you go create value, then the social status. Social status Happy My Mantra. Stop
for it forgetting everything money would drain out increases from your obse- chasing money dude, cha-
else, chances are that you pretty soon! ssion with value creation. se your dream instead!

17
Mad Mad

5
Money

unbelievable
money
habits that
millionaires
have!

S
ounds unbelievable 1. onal speaker Zig Ziglar,
GOAL SETTING:
right? But its one should fix goals for
true! In fact, thats From surveys by experts all the areas of ones life
exactly how they became it has been found that and then work towards
millionaires in the first more than two-thirds of making them happen!
UNLIKE THE USUAL place! Some normal millionaires set goals
IMAGE THAT WE HAVE people like you and me for themselves on a
2.WISE
ABOUT MILLIONAIRES who maintained a frugal regular basis. These SPENDING:
IN OUR MINDS, WHICH lifestyle, planned their are daily goals, weekly
INCLUDE EXTREMELY budgets, invested wisely goals, monthly goals, Surprisingly, for most
WELL GROOMED and most importantly, annual goals as well as millionaires, financial
MEN AND WOMEN IN developed a positive long term goals for their independence is actu-
LUXURIOUS CLOTHES mindset about money life. This is one of the ally more important than
DRIVING LAMBORGHINIS and wealth. Thats exactly most common habits status. So most of them
AND HAVING CAVIAR, their secret to success! that most millionaires spend wisely rather than
MILLIONAIRES IN REALITY Given below are the top 5 possess. A sure shot way buying expensive stuff
ARE OFTEN FOUND surprising money habits to effective and efficient all the time. What I mean
DRIVING JUST RELIABLE that millionaires possess time management that is, that what they buy mi-
CARS AND EATING that anybody can follow lets you achieve the ght seem very expensive
MASHED POTATOES AND to become rich and most in a short time! to you but to them, from
SAUSAGES! successful in life! According to motivati- their level, its modest

18
Money

From surveys by experts it has been


found that more than two-thirds of
millionaires set goals for themselves
on a regular basis.

and they could have Everyone should budget Again, the modest is
4.SAVING
bought something more and that includes milli-
AND INVESTING: not in your terms but in
expensive. But most of onaires. Theres hardly
their and you need to
them dont. This is one of a millionaire who does Again from the surveys it understand that. They
their secrets of success not possess the habit has been found that milli- could have bought cars
which usually people do of budgeting and then onaires invest 20% of their
not understand. From my which are too expensive
tracking their spending income. Also, while most
own experience, I would for them but usually they
on a monthly basis. of them have various inve-
like to make the point dont. My advice would
If you ask any one of stment accounts, they are
that one should never be to save up and buy a
them, they know exactly never on auto mode or on
buy things to show off
what portion of their the hands of investment car that you can afford
or impress other people.
money is going where at advisors. Millionaires keep and drive for a long time!
But things which you
any given point in time. control on their own inves-
really want, need and
tments and take their own To conclude it can be
have saved up for which My tip on this would be,
create a budget at the decisions. said that millionaires are
you would actually use
in reality. beginning of the month never millionaires for
5. MODEST CARS:
and track your spending their luckthey are rich
3. BUDGETING because of certain habits
through it as days go As unbelievable as this
& TRACKING by, making adjustments may sound millionaires and precisely the ones
EXPENSES: whenever needed. do buy modest cars. mentioned above!

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TO UNDERSTAND THIS, YOU MUST FIRST


REALIZE THAT FINANCIAL EDUCATION IS
VERY DIFFERENT FROM YOUR COLLEGE
OR BUSINESS SCHOOL EDUCATION IN
MANY WAYS

LIFE IS A STRUGGLE
WITHOUT FINANCIAL
EDUCATION
education otherwise you Financial than you. So, if youre
will be struggling to make financially educated,
and keep money thro-
education will you have less chance of
ughout your life. This is help you make being duped and make
hardly a suggestion, this is the right choice: your own investments in

Y
a must-take advice Im gi- the right places.
ou might acquire If you are unaware
ving all of you. Be financia-
4 degrees from 4
lly educated, and if you are
of finance and how it Financial
different colleges
yet you might not know not, start today.The best
works, you will always be education
struggling with money. You
about personal savin- investment you can make
will be exposed to a lot will help you
gs and how to manage is on yourself and your of financial advices from build a custom
financial education. Its the
loans. You might be a
starting point to building
others and it will be very wealth plan:
doctor or a lawyer with difficult for you to choose
an open practice yet wealth and be successful. the right one. All those Every financial advice
you might not have a So, what makes financial financial experts would in the market is not
clue about how to read a education so important? easily dupe you to make one-size-fits-all. Every
financial document. Point How will financial educa- a wrong choice about person is different,
is, what you must acquire tion benefit you? Here is a investing somewhere so is their skills and
today is a solid financial list of reasons: thatll profit them rather strengths and so is their

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Financial education
helps you
reach greater
financial goals:
Your financial education acts like a
ceiling that limits your growth of wealth.
As and when you keep on educating
yourself more and more, your ceiling starts
to raise higher and higher and so does your
wealth. Your financial education sets the
context for your financial success. You cannot
make a million rupees with thousand rupees
worth of financial education.
So, as you raise the bar of knowledge, you
raise the bar of your wealth as well. Financial
education is not just something you learn
once and use that knowledge forever. You keep
on learning more and more as the market and
opportunities grow around you. If you havent started
to financially educate yourself yet, start now, its the
best thing you can invest on yourself.

wealth plan. You must Remember you are


have a wealth plan that is responsible for your
custom-fit to your induvial financial decisions, no
need and aspirations. It one else. You might
certainly is a struggle for hire loads of financial
someone to build a wealth experts and market Financial education tells you how you
plan thatll help them gurus but fact of the
reach their goals if they matter is you are the can use the taxation policies in your
are financially educated. one whos shelling out
Dont be that someone, the money at the end favor and how to avoid the bad debt
get the right financial
of the day, making you
education and build your and use good debt to your financial
responsible for your
custom wealth plan.
financial security. You advantage.
Financial have to be financially
educated to take
education helps
important investment
you achieve decisions that would
financial ensure your financial
security security.

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WELL PLANNED INVESTMENTS IN ASSETS SITUATION

Think about the situation where passive income gets generated on a regular basis
without your effort going in, so you can spend all your time in doing what you actually
want to do in life! Wouldnt be truly moneygasmic! Now this kind of passive income
is only possible by well planned investments in Assets. Hence for people who are
engaged in providing direct labour in service now, without hereditary income or A TRUE
property, is to invest a substantial portion of your current income into assets and do it MONEYGASMIC
in a well planned and regular way so that after a certain duration of time it generates SITUATION IS
considerable amount of passive income for you. COMPLETE
FINANCIAL
Some common investment options in assets include: INDEPENDENCE
WHERE A
Real Estate Rent from property SUBSTANTIAL
PORTION OF
Inventions Royalty from Patent
YOUR INCOME
Brand Creation Fees from Trademark Licensing FLOWS IN NOT
AGAINST YOUR
Original Works Royalties from original works such as books, songs, other publications. DIRECT LABOUR
BUT PASSIVELY,
Business Profit from business which does not need your day-to-day efforts AGAINST YOUR
INVESTMENTS IN
Online Advertisement income from website/blog you might own
THE ASSET CLASS.
Market - Dividends from Stocks, mutual funds and other securities

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MULTIPLE INCOME STREAM SITUATION

Most people work their guts out, get exploited by doing overtimes with massive
workloads and remains constantly under pressure simply because they have just that
one job, one business or basically just one means to earn their livelihood and feed
their families. Not keeping all your eggs in one basket and instead, having different
types of strong and sturdy baskets which you generously redistribute your eggs in, is
the moneygasmic situation at its best!

Making Multiple Income Stream Situations truly Moneygasmic, include:


1. Having more than one stream of income. The best combination is to have a steady
income from an occupation/job along with a business that follows your passion as
well as income from assets/investments

2. Having different income streams reflect different kinds of portfolio so that if the HAVING MULTIPLE
market goes down one averages out the loss of the other. For example, if you INCOME STREAMS
have investment in stocks and mutual funds, distribute your money over different IS AS GOOD AS
sectors, industries as well as over different types of funds. HAVING MULTIPLE
ORGASMS! NO
What You get: WAIT, ITS EVEN
1. More income and more savings
BETTER! HAVING
MORE THAN
2. Less stress and tension since you know if one stream stops you have others to bank on ONE INCOME
FLOW IS TRULY
3. Takes away the mid-life crisis situations and the boredom from life from having MONEYGASMIC TO
income generated from the same old avenue year after year SAY THE LEAST!

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IF YOU WANT TO H
owever, one thing
is common, all
of us want to be
considered successful

BE CONSIDERED
by our friends, family
and by the world. It gives
a sense of achievement,
a sense of a high, when

SUCCESSFUL,
the world looks up at
you as a successful
individual and points to
you as an example.

INVEST IN So how does the world


define success? Why
and what would make it

EXPERIENCES
consider you successful?
The single word answer to
that is experience. Yes, if
you want to be considered
successful, invest in
experience. When Richard
WE ALL HAVE DIFFERENT DEFINITIONS OF SUCCESS. WHAT SUCCESS Branson or Warren Buffet
MEANS TO YOU MIGHT NOT MEAN SUCCESS TO ME. FOR SOME, enters a room, everybody
looks up. Everyone knows
CLIMBING UP THE CORPORATE LADDER TO SENIOR MANAGEMENT who he is. That particular
POSITIONS HAVING LUXURIOUS APARTMENTS AND FANCY CARS room is full of rich and
MIGHT WELL DEFINE SUCCESS, FOR OTHERS HAVING THEIR OWN successful people so what
makes them different?
BUSINESS, CREATING JOBS FOR OTHERS MIGHT BE PERCEIVED BY Simply because of the
THEM TO BE MORE SUCCESSFUL THAN THE FORMER. experience they have

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created as a part of their economy, most of us


growth and success story. can buy what we want.
There is a complete
INVEST IN clutter of everyone selling
EXPERIENCE FOR everything that one needs
YOURSELF or wants. So maybe it
So how does the world define
is time we look into the
There is a distinct niche areas that just success? Why and what would
difference in buying and doesnt give customers
experiencing. When you make it consider you successful?
products or services that
are rich you can always they need but give an The single word answer to that is
buy things or services
that you need or want,
experience that has an experience.
emotional quotient to it.
but for real happiness
or self-contentment, WHAT THE
invest in experiences.
ELEMENT OF and more innovative rience of being able to
Experiences have an
EXPERIENCE experiences to people. control ones home and its
emotional element that
Think about if you could element from a touch on
makes you feel. MEANS IN THE
arrange your curtains at your smart phone. This mi-
BUSINESS WORLD
INVEST IN home via a swipe on your ght just be a very simple
This is precisely why smartphone. Little and example, but you get my
EXPERIENCE FOR
from the era of ecom- random example as this point right?
YOUR CUSTOMERS can be numerous. But The world in future will
merce and creation of
If the above is true for the global market place what I mean to say is that bow down to people who
you, then it is true for we are gradually shifting people dont necessarily can offer novel experien-
everyone else right? to the Internet of Thin- want to buy a product ces to its people. And if
People are happier when gs (IoT) space. IoT is all that arranges curtains you want to be consi-
they invest in experiences. about experience and the lets say. However, what dered really successful,
In todays world of global merging of technology to you are offering is an investing in experiences
digital ecommerce create and provide novel experience, an expe- is the way to go.

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The rich trust their


guts, and they are
RARELY WRONG
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have about something. brain hasnt really made


The feeling you feel and a direct effort to remem-
not arrive at, the inner ber them. For example,
whisper to your heart the explicit memory is
that something will work when you study before
or something is odd or your exams and try to
some imminent danger in

S
remember things with an
To trust your teve Jobs for something. Rich people effort, or when you make
example had that
head or your gut? are rich because they an effort to learn cycling
amazing quality of managed some kind of a
Undoubtedly going by his gut feeling
lets say. Implicit memory
breakthrough that others
one of the and it was rarely wrong.
would include remembe-
could not, and usually ring a quote or a movie
most confusing While numerous experts most of this breakthrou- song that you have never
yet pertinent advised him against ghs are based on gut fee- really made an effort to
questions in Apple going into the lings. If they were thought remember but somehow
business! The phone business, he was out from the brain then got absorbed by your
the only person who had many other people would
rich trust their brain. Or lets say how you
a gut feeling, an intuition have also done it since
guts and they are that it would work!
remember that the stove
the data set existing is
rarely wrong. If you the same for everyone. It
is hot and you shouldnt
survey rich people Brain Vs Gut needs someones gut fee-
touch it. These implicit
memories are the ones
all over the globe, Wheres the ling and more importantly
which act behind your gut
you will find that contradiction? the courage to not listen
instincts, help you make
they are rich for to anything or anyone and
decisions based on some
this sole reason So what exactly is the go just by that gut feel to
past triggers that otherwi-
difference? What exactly make it big in life.
in the first place! se your conscious brain
is a gut feeling and how
Steve Jobs for is it a different feel than The Gut doesnt remember.
example had that Feeling
amazing quality
when your brain is telling Personality
you that something would Scientifically Traits that go
of going by his work or wouldnt? Well,
gut feeling and it there lies the differen-
Explained along with your
was rarely wrong. ce really. Your brain will Now that we have under- gut
While numerous always tell you that so- stood that the rich trust
mething should be right their gut, lets scientifically Its never enough to
experts advised simply have a gut feeling
or wrong, it has a dataset see how it actually works.
him against Apple and analytically assesses if you do not do anything
Experts say that humans
going into the it to reach the logical have two parts to their about it. Gut feeling and
phone business, conclusion of what sho- memory the explicit and risk goes hand in hand
he was the only uld or shouldnt work. the implicit. The former and for all rich people this
person who had However, the world or is the kind where you combination has basica-
destiny isnt always logi- remember stuff that you lly called the third friend
a gut feeling, an
cal. Your gut feeling is not actually make an effort to called success along. So
intuition that it next time you have an
based on any data, not learn and remember. The
would work!. about what you should latter on the other hand inner feeling that somet-
do given the circumstan- is mostly the indirect hing would work, have the
ces. Its simply the inner things that we remember courage to take the leap
feeling, an intuition you unconsciously, and our of faith. Best luck!

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8 REASONS WHY
YOU DONT
HAVE MONEY

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Life appears to be a never ending running race most of the cheating others. Try your
hands even on jobs that
times. We get the feeling that despite running the race in others are unwilling to
take up. For all you know,
a tireless manner, we never seem to have a penny in our that is where the money
wallet whenever we open it. We either live on credit or tend is lying in huge lumps.

to give away our desires in a dejected manner. We seem to 7.Dont com-


be doing everything right when it comes to money and yet mit financial
our wallet does not act as a proof for the same. Here are suicide
some crucial reasons why we dont have money. Get out of the mindset of
comparing your financial
situations with that of
a young age, people going to lift you up as an others whose situations
1.Sticking to must be exposed to individual. You have to are worse than yours. This
the comfort the real economy in the try to pull yourself up wit- means you are comforta-
zone world outside the four hout depending on any bly justifying your financial
walls. This will make external force outside situation doing nothing
We all feel safe at our people more pragmatic your control. really meaningful to get
mummys lap. This is in terms of money and out of the same. Draw in-
good as long as your accumulating the same
5.Stop feeling spiration from people who
love for your mummy apathetic are financially better off
does not stop you from 3.Blocked about yourself than you. Think honestly
grabbing the opportuni-
ties available in far away
by budgeting what took them there.
Irrespective of where Work towards the same.
destinations. As long as mindset we stand financially, it is
we remain a couch po-
Budgeting is good as prudent to ascertain our
8.Never feel
tato under the protective
long as it acts as the situation in a periodical happy with
wings of our parents, we manner. Even if you dont
never explore the golden
beginning for planned
have a penny in your
your working
activities. When we just
opportunities outside our
keep budgeting, we do wallet, dont give up. Just schedule
doors. assess where you stand
budgeting alone and We are not asking to kill
financially and what you
2.Lack of real nothing else to earn
can do about the same
yourself but never get
money. It is true that A satisfied when you work
knowledge penny saved in a penny
every now and then. If
between nine and five for
about earned. But then it is just
you dont care for your
financial situation, money five days a week. Having
economY a penny and will remain
will not care about ente- cash in hand all the time
one unless it is invested requires you to work
ring in to your wallet.
Economy in the local in a prudent manner. all the time. It may be
mans language 6.ACCEPTING THE mental or physical. But
remains the balancing
4.Depending work. It may be true that
RESPONSIBILITY
of household income on economic money is not everything
and expenses. This miracles Never feel bad about doi- and there is more to life
illiteracy makes people ng any legitimate job that than money. However,
comfortably revolve Never think too high can fetch you the money remember that in reality,
around household about politics or socie- you want. No job is bad money plays a significant
expenses and savings tal scenario. Societal unless it means killing role deciding the quality
year over year. Right from economics is in no way someone physically or of the life we live.

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