There is a difference between being poor and being broke. Broke is temporary. Poor is eternal. The poor and the middle class work for money. The rich have money work for them.

Too many people are too focused on money and not on their greatest wealth their education. If people are prepared to be flexible, keep an open mind and learn, they will grow richer and richer despite tough changes. If they think money will solve problems, they will have a rough ride. Intelligence solve problems and produces money. Money without financial intelligence is money soon gone.

Most people fail to realise that in life, it’s not how much money you make. It’s how much money you keep. We’ve all heard stories of lottery winners who are poor, then suddenly rich and then poor again. Or stories of professional athletes, who at the age of 24 are earning millions, but are sleeping under the bridge 10 years later.

In the long run, it’s not how much money you make. It’s how much you keep, and how many generations you keep it. If you want to be rich, you need to be financially literate.

Most people, in their drive to get rich, try to build an Empire State Building on a six inch slab. While they are ignorant that they need to dig a deep hole and pour a strong foundation.

Accounting is possibly the most confusing, boring subject in the world, but if you want to be rich long term, it could be the most important subject.

Cash flow tells the story of how a person handles money. Money only accentuates the cash flow pattern running in your head. If your pattern is to spend everything you get, most likely an increase in cash will just result in an increase in spending. Thus the saying, “A fool and his money is one big party.”

Most people work harder but don’t get ahead. What is missing from their education is not how to make money, but how to manage money. It’s called financial aptitude – what to do with money once you make it, how to keep people from taking it from you, how to keep it longer, and how to make that money work harder for you. Most people don’t understand why they struggle financially because they don’t understand cash flow.

There’s an important saying for people in debt, “If you find you have dug yourself into a hole…. Stop digging.”

A ‘time consciousness.’ You see, I learned that time slips through our hands like grains of sand, never to return. Those who use time wisely from an early age are rewarded with rich, productive and satisfying lives.

Those who have never been exposed to the principle that ‘time mastery is life mastery’ will never realize their enormous human potential. Time is the great leveller. Whether we are privileged or disadvantaged, whether we live in Texas or Tokyo, we all have been allotted days with only twenty-four hours. What separates those who build exceptional lives from the ‘also rans’ is the way they use this time.

Time mastery allows you more time to do the things you love to do, the things that are truly meaningful to you. Time mastery leads to life mastery. Guard time well. Remember, it’s a non-renewable resource.

The Power of RAS
You can prime your brain to recognize opportunities that will help you reach your goals.

See if this sounds familiar: your mother calls to say she’s bought a new car – let’s say it’s a silver Toyota Yaris – which surprises you since you’ve never heard of this car before. The next day, however, you start to see this car everywhere you go, and many of them are silver, too! How is this possible?

This is the magic of your brain’s filtering system, known as the Reticular Activating System, or RAS.

The RAS is what allows us to sharpen our attention, and it can be primed to notice, or not notice, certain things.

Parents of newborns are familiar with the RAS, as it is what allows them to sleep through just about anything, like traffic noise or a blaring television, yet wake up at the slightest peep from their baby. This is due to their RAS being biologically primed to hear when a child is in need.

This is the same mechanism that will allow you to hear when your name is mentioned across the room at a loud party. Despite the music and dozens of simultaneous conversations, when this happens your ears will perk up and you’ll find yourself suddenly being able to overhear a conversation that was mere background noise just seconds earlier.

What’s more, the RAS can also help you achieve your goals. When you write those clearly defined goals on paper, you’ll prime your brain to begin its unconscious work on the project.

After you write down your goals, your RAS filter will constantly be on the lookout for messages or information that will help your quest. So, after writing down that you want enough money to open a restaurant, you’ll be primed to overhear someone at a party who says they have a history of investing in restaurants. Otherwise you never would have noticed.

Carrot, or stick? You’ve probably heard these two words used to describe incentives for people to do things they may not want to do.

A carrot is a reward, and a stick is a punishment. A carrot-and-stick approach is not only effective in changing behavior but also best-suited to encourage people to put long-term goals before short-term satisfaction.

So reprimanding bad behavior is the best way to ensure commitment to long-term goals. Yet for a cash fine to act as an actual deterrent, it is essential that the amount be substantial.

The higher the fine, in fact, the more effective the punishment! Modest fines only put a price tag on bad behavior. Instead of taking the behavior off the table entirely, a small fine makes bad behavior something that’s okay, if you don’t mind shelling out a few bucks.

In sum, fines that could help lawbreakers feel less bad about breaking rules aren’t exactly good fines. Yet if a fine was to go toward something that society generally disapproved of, a potential lawbreaker might make more of an effort to avoid fines by breaking fewer rules.

Lots of little sticks might feel like a tickle. Hit with a big stick, and you can’t help but capitulate.

For instance, cigarette taxes have little effect on the number of smokers because the added cost for each pack is too insignificant to represent an effective punishment for smoking. In other words, the temptation to smoke still outweighs the punishment.

A better option would be to enact instead one large punishment. One big stick gives a person pause, and is much more likely to deter a smoker in a moment of temptation.

Several researchers have suggested replacing the few dollars of tax levied on each pack of cigarettes sold with a smoking permit which, for $5,000, would allow the permit bearer to buy 2,500 cigarettes.

While a smoker might be able to stomach a few bucks with each pack, the enormous cost of a permit could quickly curb behavior at a stroke. And in the end, this big stick would prevent a crippling addiction from causing long-term damage.

It’s true that often, the only way to really change human behavior is through severe punishment!

You also need to set yourself up with a commitment contract. A referee will help keep you in line to meet your goals.

Sticks and carrots offer effective incentives for curbing bad behavior. Yet we also need effective tools to overcome our addiction to now. One way to do this is to make an agreement with yourself, called a commitment contract.

Commitment contracts offer a formal way of taking undesirable behavior off the table. In effect, they’re a way of tying your hands to prevent you from doing bad things in the future.

But how can you effectively establish a commitment contract? For a contract to really make an impact, the punishment for not following through has to be as serious as the bad behavior the contract addresses. Thus severe punishment and public exposure is what will keep you in line.

For instance, the drug Antabuse helps people avoid drinking alcohol by giving them an immediate hangover as soon as they have a drink.

Commitment contracts should also incorporate a degree of public exposure. What our friends and colleagues think of us often drives our behavior. We react to social pressures by behaving in ways to protect ourselves from ridicule.

For example, a professor committed himself to losing weight by saying he would teach class wearing a swimsuit if he failed to meet his goal. While his idea was extreme, it was effective!

Finding an impartial referee is another element in establishing an effective commitment contract. The success of every contract relies on a reliable authority who can ensure the application of agreed-upon punishments for bad behavior. Without a referee, punishment can easily be avoided.

Don’t just choose a friend to be your referee, as he might go easy on you and let your bad behavior slide. But don’t hire an enemy for the job, either. It’s essential to trust that your referee will be fair and help you achieve your goals!

For instance, most obese people who decide to lose weight aim to do so by working toward significantly shedding more than 10 percent of their current weight. But reducing your weight by some 10 percent is a serious task! Most dieters often lose a lot of weight quickly, only for their success to be short-lived.

But having realistic goals isn’t enough. You also need a long-term commitment contract to suit them. For instance, a commitment contract for a dietary goal is usually based on the one-time loss of a certain amount of weight. Therefore, an additional commitment contract is necessary to ensure that a dieter then keeps the weight off.
Such a contract should address things like a daily commitment to weight control, a punishment for exceeding a certain weight and a weight range in which the dieter is expected to naturally fluctuate. Only by making long-term commitment contracts like that can you reach your goals and stick with them!

We are slaves to now and often forgo long-term benefits to indulge in immediate rewards. Lucky for us, there’s a way to overcome this bad habit and it starts with carrots and sticks, or rewards and repercussions.

Make your long-term goals a reality with commitment contracts. The next time you decide to make a major life change like quitting smoking, losing weight or saving money, make sure you follow through by drafting a commitment contract. It’s easy to build an effective contract for yourself as long as you set realistic goals and severe punishments for failing to meet them.

Carrot, or stick? You’ve probably heard these two words used to describe incentives for people to do things they may not want to do.

A carrot is a reward, and a stick is a punishment. A carrot-and-stick approach is not only effective in changing behavior but also best-suited to encourage people to put long-term goals before short-term satisfaction.

So reprimanding bad behavior is the best way to ensure commitment to long-term goals. Yet for a cash fine to act as an actual deterrent, it is essential that the amount be substantial.

The higher the fine, in fact, the more effective the punishment! Modest fines only put a price tag on bad behavior. Instead of taking the behavior off the table entirely, a small fine makes bad behavior something that’s okay, if you don’t mind shelling out a few bucks.

In sum, fines that could help lawbreakers feel less bad about breaking rules aren’t exactly good fines. Yet if a fine was to go toward something that society generally disapproved of, a potential lawbreaker might make more of an effort to avoid fines by breaking fewer rules.

Lots of little sticks might feel like a tickle. Hit with a big stick, and you can’t help but capitulate.

For instance, cigarette taxes have little effect on the number of smokers because the added cost for each pack is too insignificant to represent an effective punishment for smoking. In other words, the temptation to smoke still outweighs the punishment.

A better option would be to enact instead one large punishment. One big stick gives a person pause, and is much more likely to deter a smoker in a moment of temptation.

Several researchers have suggested replacing the few dollars of tax levied on each pack of cigarettes sold with a smoking permit which, for $5,000, would allow the permit bearer to buy 2,500 cigarettes.

While a smoker might be able to stomach a few bucks with each pack, the enormous cost of a permit could quickly curb behavior at a stroke. And in the end, this big stick would prevent a crippling addiction from causing long-term damage.

It’s true that often, the only way to really change human behavior is through severe punishment!

You also need to set yourself up with a commitment contract. A referee will help keep you in line to meet your goals.

Sticks and carrots offer effective incentives for curbing bad behavior. Yet we also need effective tools to overcome our addiction to now. One way to do this is to make an agreement with yourself, called a commitment contract.

Commitment contracts offer a formal way of taking undesirable behavior off the table. In effect, they’re a way of tying your hands to prevent you from doing bad things in the future.

But how can you effectively establish a commitment contract? For a contract to really make an impact, the punishment for not following through has to be as serious as the bad behavior the contract addresses. Thus severe punishment and public exposure is what will keep you in line.

For instance, the drug Antabuse helps people avoid drinking alcohol by giving them an immediate hangover as soon as they have a drink.

Commitment contracts should also incorporate a degree of public exposure. What our friends and colleagues think of us often drives our behavior. We react to social pressures by behaving in ways to protect ourselves from ridicule.

For example, a professor committed himself to losing weight by saying he would teach class wearing a swimsuit if he failed to meet his goal. While his idea was extreme, it was effective!

Finding an impartial referee is another element in establishing an effective commitment contract. The success of every contract relies on a reliable authority who can ensure the application of agreed-upon punishments for bad behavior. Without a referee, punishment can easily be avoided.

Don’t just choose a friend to be your referee, as he might go easy on you and let your bad behavior slide. But don’t hire an enemy for the job, either. It’s essential to trust that your referee will be fair and help you achieve your goals!

For instance, most obese people who decide to lose weight aim to do so by working toward significantly shedding more than 10 percent of their current weight. But reducing your weight by some 10 percent is a serious task! Most dieters often lose a lot of weight quickly, only for their success to be short-lived.

But having realistic goals isn’t enough. You also need a long-term commitment contract to suit them. For instance, a commitment contract for a dietary goal is usually based on the one-time loss of a certain amount of weight. Therefore, an additional commitment contract is necessary to ensure that a dieter then keeps the weight off.
Such a contract should address things like a daily commitment to weight control, a punishment for exceeding a certain weight and a weight range in which the dieter is expected to naturally fluctuate. Only by making long-term commitment contracts like that can you reach your goals and stick with them!

We are slaves to now and often forgo long-term benefits to indulge in immediate rewards. Lucky for us, there’s a way to overcome this bad habit and it starts with carrots and sticks, or rewards and repercussions.

Make your long-term goals a reality with commitment contracts. The next time you decide to make a major life change like quitting smoking, losing weight or saving money, make sure you follow through by drafting a commitment contract. It’s easy to build an effective contract for yourself as long as you set realistic goals and severe punishments for failing to meet them.

*Turn your life in just 10 minutes*
My dad once told me : “You can apply the 10 minutes mantra to turn around your life in a tremendous way.”
I didn’t understand at first. “What’s the big deal in 10 minutes?” I asked.
“There’s indeed a big deal about it. 10 minutes, believe me son, can create a marvellous difference in our life,” my dad offered wisely.
“Elaborate please, dad,”
“I’ll tell you. But first, you’ve to get up tomorrow at 6.00 am.” My dad conditioned. I agreed.
Next day, as I woke up at the agreed time, my dad came to my room.
“What’s the time?”
“6.00 am” I replied.
“Okay, so before you can follow the 10 minutes mantra, you have to “followtheartofbeingawareabouttheclock,”
I was confused. My dad continued, “Look at the clock. It’s 6.00 am. Now within 10 minutes I ask you to do the following – Arrange your bed and your table; drink two glasses of water, wash your face and brush your teeth. But keep looking at your clock while doing these. That’s it”
“Well…Okay,” I said, thinking what could be the catch my dad wanted me to capture.
I began and started doing all he asked. All the time, I kept glancing at the wall clock. Finally after 10 minutes (or 30 seconds earlier to be exact) I had finished it all.
“Well done, boy. You have turned around your life!” My dad praised, patting on my back.
“What?” I was astonished and puzzled, unable to grasp, and asked earnestly “I didn’t get you, dad.”
“Think, son, think!” My dad urged, “Recall your earlier days. How did your day started off?”
I racked my brains and pondered over. Usually, I wake up at 6.00 am. Then, I wander off, yawning lazily and even sleep for some more minutes or sit idly on my chair, my thoughts in thousand directions. And, by the time I finish the above activities, it was already past 7.00 am.
“And today, it’s just 6.10 am” my dad said as if he read my mind.
“Yes!” I exclaimed, starting to understand.
“So what made you do it?” my dad asked.
I thought. What made me do it? Because my dad told me to do? No, no. There was more to it. And then it hit me.
*“ Theartofbeingawareabouttheclock!”* I almost shouted.

“Yes and also ten minutes.” My dad said, smiling at my wonderstruck face.
My dad explained: “By setting your eyes on the clock and thinking about 10 minutes, your mind got *focused* in that span of 10 minutes. It was just like a deadline or a due date. *The “10minutes” deadline kept your mind in the present; in the “NOW ” and prevented you from wandering off.”*
I was impressed. Just a matter of meagre 10 minutes had such a mighty effect! I had completed all those routine activities on time. Now, I felt I have so much time ahead (as compared to 7.00am, it was just 6.10 am!). With so much time saved, I could work on creative and productive activities, instead of loitering around aimlessly. *Time is indeed, the most precious thing on earth.*
A question piqued my curiosity, “Dad, why only 10 minutes. Why can’t we divide our activities into 1 hour slots?”
“Good question,” my dad said, “we can. But Shorter the time, *more productive* you will get. Imagine, if I told you to do those routine activities in 1 hour? Your mind will make your actions slower because you’ll think you have enough time to do it. Even if an activity takes 1 hour, you can segment it into 10 minutes slots.”
“Give an example,” I was eager to know more.
“You can, for instance, segment your workout time,” my dad resumed. “10 minutes- warm-up; 10 minutes- stretching and 10 minutes-yoga,”
“Really amazing, dad; this 10 minutes stuff can make your life on a roll! Instead of long bouts of inactivity, once can benefit from the short bursts of creativity!”
“Yes. The 10 minutes stuff is just an idea. You can also make it 15 minutes or 20 minutes but not longer than that.” My dad paused and continued :
“The 10 minutes mantra can be applied in every aspect of life. A student, a professional, a businessman or anyone can apply this simple but successful technique. Take an example of student. The student can allot 10 minutes time for a topic. After that, he/she can take 2 minutes rest and resume for another ten minutes. He or she can also take time off and read a good book for 10 minutes or allot just 10 minutes for walking. All a student has to do is to be aware of the clock.
Elaborating it further, _we humans have a tendency to keep on delaying small things_. We know we have to pay bills on time, and still we delay it beyond the due dates. We are aware that our bike’s tyres need to get pumped, yet we don’t care to stop by the car-shop we pass every day. We promise ourselves to go to a temple on a particular day, yet we never seem to keep our own promise on time. Why? Because our mind wanders off and deems such things as unimportant. If we vow to take just 10 minutes or 20 minutes of our entire 24 hours, we would never procrastinate and our life will be million times better.”
My dad concluded: “ The 10 minutes, if followed *consistently*, can have a tremendous effect in anyone’s lifestyle. *Procrastination* and *Idleness* will vanish away replaced by *Focus* and *Intensity*. People will tell you they are short of time. No time for the loved ones, no time for pursuing their dreams, no time to eat, no time for their health as if they are the most busiest people on earth! It’s the lamest excuse one can give.
*The 10 minutes mantra can keep us Organized, keep our otherwise disoriented thoughts in check, Balance our life fruitfully and help us to have enough time in our hands. So follow this 10 minutes mantra and see your life turn around at a miraculous pace…..!”*

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