Benefits of Disciplining Ourselves!

Discipline is an ancient secret of success. Many people are smart, skiiled, and very good at what they do. However, very few people see success. Why? I believe most people are not disciplined enough to consistently do something for a certain period of time. But, good thing is we can change. We can discipline ourselves. There are many benefits of disciplining ourselves.

Success comes from cultivating good success-oriented habits. But for most people their habits are what stops them from being successful. A lot of time I am accused by my wife that I do something for two days and then stop. So, I started monitoring myself. And, you know what? She was right. I would take action towards developing a new habit and after two days I would be back where I was. Matter of fact, it was very frustrating repeating the same mistakes over and over again. So, one fine day, while taking shower, it hit me. I did not know how to discipline myself. And, my quest began. I have changed many of my habits since then and am working to change a lot more. As a result of me disciplining myself, our relationship improved, our finances improved, and now we are on our way to financial and personal success.

In his book The 7 Habits of Highly Effective People, Stephen Covey says that if you do something for 21 days continously, you cultivate a habit. It works! Matter of fact, I highly recommened you get a copy of this book and read it and re-read it multiple times to absorb everything.

Reward yourself everytime you cultivate a new habit. It helps you stay on track. Keep a jar and put a dollar everytime you catching yourself doing a habit you want to get rid of. Give your kids a quarter everytime they catch you returning to a old non-productive habit. This technique will change your habit even faster because the kids will be following you waiting to make a mistake.

In conclusion … discipline yourself to become a better you. It helps in the long run.

Hope this helped. Looking forward to reading your comments.

Respectfully,
Mayur Gudka

Create a Mastermind Alliance!

If you have read Napoleon Hill’s Think and Grow Rich or The Master Keys to Riches, you will know the importance of creating a mastermind alliance. Basically, Masterminding (If that is a word!) is aligning yourself with an individual or a group of people from whom you can take advice on any subject you desire.

I have an mastermind alliance with an individual who is mentoring and guiding me in my business. If I run into a problem or need to do something in a better way, he is the first person I call. He will listen to me and then offer me his suggestions. Whether I follow these suggestions or not, it’s upto me. However I found out that when I don’t follow his suggestions it is my loss. So, I follow all of his suggestions. Similarly, you need to find somebody who can cover your blind spots. How do you find a mentor?

Your mentor should be or going towards in life where you want to be. He/She should be willing to guide you. If your mentor has a financial incentive in your success, even better. This way, they will never give you advice that will hurt you financially, because the more money you make the more money they make. It’s a win-win situation. If you know somebody who is in life where you are, talk to them. Ask them if they are willing to mentor you. If they agree, get excited. Respect them, their time and their advice.

I highly recommend you read the book Master Keys to Riches by Napoleon Hill. One of chapters in that book is entirely dedicated to creating a mastermind alliance. It surely will help you get a better understanding of this concept.

Hope this helped. Looking forward to reading your comments.

Respectfully,
Mayur

A dollar saved is two dollars earned!

It really is … A dollar saved is almost two dollars earned. Think about it. If your employer gives you a grand two dollar bonus, how much do you actually get? About a dollar, because you have to pay income tax, social security tax, medicare tax, etc. So in reality, you only got a dollar increase.

There are several ways you can save your dollars.

• You can buy things for bargain. Rather than pay full price for an item, you can get new items for a lesser price. Shop at Walmart, Big Lots, Christmas Tree Shop, places where you get good stuff for a less price. I am not saying, become a total cheap freak. But, it helps you save some money.
• Don’t buy brand new cars. The moment you drive the car off the dealer’s lot, it’s price is reduced by several thousand dollars. Purchase a pre-owned vehicle.
• Don’t purchase luxuries on credit. Save for luxuries. If you pay for your big screen tv, vacation, stereo system, etc. in cash rather than take a loan, you will enjoy them much better. On top of that, you also save money on interest that you would pay otherwise.

Most people are good at saving money in the above mentioned ways. But, the difference between the rich and poor people is what you do with the savings. Poor people buy more things with the money they save. Things that don’t appreciate in value. Rich people save or invest the difference between full price and the price they pay for items they need.

Question is … What do you do with your savings? Do you invest it for future or do you spend it?

Hope this helped. Looking forward to reading your comments.

Respectfully,
Mayur

Make budgeting work for you!

What? I’ve tried it many times. Doesn’t work. I just can’t stick to it. You need to be very disciplined to make it work. Budgets don’t work. It might work, I haven’t tried it yet – These are common reactions I get when I talk about budgeting to somebody. You know, it doesn’t have to be hard to tedious. Yes, budgeting needs a little bit of discipline, but it’s not hard as you think. A bit of planning, a bit of discipline and Walah! Budgeting becomes easy.

Most people simply budget for their needs. $1000 for rent, $300 for utilities, $300 for food, $150 for car payment, $100 for insurance, $200 for gas, and $300 for savings. This is how most people budget. But, remember we are humans. We have wants. If you are budgeting for a business, it is okay to budget only for needs. Businesses don’t have wants. But, people do. And, most people look at that extra $300 dollars at the end of the month and buy clothes, stereo systems, music cds, shoes, etc. and end up with zero or negative balance at the end of month. Then they wonder, I budgeted. I even followed it, It doesn’t work. I have no savings to show for it. But, they hadn’t budgeted for wants.

While budgeting, it is very important that we take our needs and wants into consideration. Out of $300 savings, take $100 and put it towards your wants. Plan early what you want, and budget accordingly. This way, you will have some money in your savings account.

Hope this helped. Looking forward to reading your comments.

Respectfully,
Mayur

Before Diving into the World of Investing

In his book Cashflow Quadrants, Robert Kiyosaki talks about 4 kinds of people - Employee, Self-Employed, Business Owners and Investors. While Employees and Self-Employed people form the left side of the quadrants, Business Owners and Investors form the right side of the quadrants. Point of this book is that it is okay to start your life on the left side of the quadrants, but make sure when your life ends, you are on the right side of the quadrants. Most people also desire to rich, so they make a dive – straight from employee or self-employed to investor. Bad Move!

Most people who have a comfortable job, start investing in real estate. Everything is hunky dory. They spot a good deal, seal the deal, start making monthly payments, and hope to sell the property when prices go high. Sweet! Then they get laid off from work. Trouble begins. Can’t pay the bills, money is stuck in their real-estate property. Can’t afford to make mortgage payments for real-estate property. I know what you are thinking, it won’t happen to me. So did a lot of other people whose houses are being foreclosed.

What does the Employee or Self-Employed person need to do? They need to create a supplemental income, a secondary income which they control. Not their boss. So, if something happens to their job, they can still afford to pay bills and make mortgage payments on the house. It takes worry off your head. You can still invest, but without much worries now. You don’t worry much if you lose money on the deal. Treat it like a learning experience. But, if all your money was stuck in investment and it turned out to be sour deal, you could have been in a depression.

So, look for a way to create a secondary source of income. Even if you don’t plan to invest, it will help you incase you lose a job. Always keep you eyes open for opportunities. There are plenty.

Hope this helped. Looking forward to reading your comments.

Respectfully,
Mayur

Your dominant thoughts drive your Life

Our lives are what we focus on. When I am driving somewhere in a hurry, I often pray, “Please don’t let there be any traffic, please don’t let there be any traffic.” And, then BOOM. There is traffic. I approach a traffic light and say, “I hope the light doesn’t turn red.” And, it turns red. Ever happen to you. It happens to me all the time. Whatever I focus on, put all my energy towards, happens. So, I have decided to put my focus and energy towards the things I want in life, rather than things I don’t want. I’ve decided to make my dreams my dominant thought process.

I would encourage you to take a pen and a piece of paper. Then, write down everything you want and desire in your life. Then take a deep breath. And, go down the list one-by-one asking the same question: “If I could have this right now, would I really take it?” If your answer is anything but an absolute Yes, cross it off and move on to the next item on the list. Go through all the items. At the end, you will have a list of items you truly want to accomplish in life. Next set priority levels to items that you want. Now, focus on things that are your top priorities, and think about them all the time.

How to make something your dominant thought?

There is no one set way to do it. It can be done in multiple ways. A very effective way is to create a Dream Book. Find pictures, write down descriptions, anything you can do to crystallize your vision of your dream. If you dream is a house, write down what kind of house do you want, how do you want the view to be from your front porch, what about the view from the back porch? What about the color of your house? How much property around the house do you want? Do you want it by the ocean, mountain, in the middle of a field? How many bedrooms and bathrooms? What kind of stairs do you want? How many garages? How long and wide should your driveway be? Should you neighbors be close to you or about 1/4 mile away? Crystallize your vision so much that you can literally see your house, everytime you close your eyes. And, put it all in your dream book. Look at the dream book a couple times a day.

Another way to do it, is write your goal & dreams on a index card and carry them in your wallet. Look at them a few times a day. You can also change your desktop’s wallpaper or screen saver to match your dream. Some people change their computer’s password also. Be creative, but make sure you look at your dream at least a couple times a day. The more you look at it, the more your vision will be crystallized.

When you make something a dominant thought of yours, the Universe has a way of changing events and circumstances around to help you bring your dream to life. Only thing is, you cannot give up on your dream. You must want it with all your heart.

Make your dreams your dominant thoughts. Don’t quit on your dreams. You will achieve them.

Hope this helped. Looking forward to reading your comments.

Respectfully,
Mayur

Develop an Attitude of Gratitude

What is Attitude of Gratitude?

Attitude of Gratitude is about being thankful for who you are and what you have. Some people are always happy and thankful for what they have. And, some are always grumpy and never happy with what they have. Somehow, most of the time everything that happens to them is also “Sour”, like themselves. Where as, people who have an attitude of gratitude, they experience good things most of the time.

How do you develop an Attitude of Gratitude?

Say “Thank You” as often as you can. If someone gives you money, thank them. If someone holds an elevator or a door for you, thank them. If you find a penny on the ground, thank god for putting money in your way. If someone gives you a gift or cooks a meal for you, thank them.

Oh, and remember don’t just thank them for the heck of it. Show sincerity in your words and actions while thanking them. Make a habit of thanking at least 10 people a day, until it becomes a habit. Once you cultivate this habit, it will do miracles in your life.

Why should you develop an Attitude of Gratitude?

When you give someone gratitude, it makes you feel good. When you feel good, your mind and heart are energized. When your mind and heart are energized, you create good thoughts, which motivate you to take action in a positive manner. When an action is taken in a positive manner with a purpose behind it, it will always become successful. Having an attitude of gratitude is a secret to success.

Hope this helped. Looking forward to reading your comments.

Respectfully,
Mayur

Job Security or Financial Freedom?

Last night, I met a computer consultant who had been out of a job for the past few months. His project had ended and he was looking for a new project. Upon inquiry, I found out that due to his Visa status, he could only work in computing field. Next question I asked him was if he could start a business under his visa status. That, he could do. I recommended he start a business of his own and also gave him a few low-cost ideas. This way, he could start generating some extra income.

To my surprise he gave me every reason under the sun why he cannot start a business and why job was the way to go. I knew I had to run away from this guy. His values about money and my values about money contradicted big time. He was the kind of guy who went from job-to-job looking for that security. He even told me that if he does not find a job by end of this month, he might have to sell his car, just to get some cash for survival. I really feel sorry for this guy. But, if he isn’t willing to help himself, there wasn’t much I could do.

However I am glad I met him, because he got me thinking about my beliefs about money. He treasured a job security, whereas I am gunning for financial security and financial freedom. Nothing wrong with what he was doing, but there is a lot of misery in that path.

Anyways, hope this got you thinking about what you are doing? Do you have a spare income? Are you gunning for job security or financial security and freedom? Let me know.

Hope this helped. Looking forward to reading your comments.

Dis-associate to Associate

Charlie “Tremendous” Jones says that five years from now, you will ahead, behind or stagnant in life depending on two things – kind of books you read and the people you associate with.

If you are not in life where you want to be, change your association. Otherwise, five years from today, everything will be the same in your life except, you will be five years older. Also, don’t associate with people who bring you down. Because, if you associate with such people on a regular basis, you will be in a worse situation than you currently are. So, how do you pick you association?

Look at people who are already in life where you want to be. Are they willing to help you get where they are? If your answer is yes, then these are the people you should be associating with. It will help you improve your mindset. They will challenge you to do better in life. They will guide you into the right path so you can also be as successful as they are.

You should also remember to not associate with the people who are going nowhere in life. Remember to dis-associate, so you can associate with people who have your interest at heart.

Figure out what you want in life. Find people who already the things you want in life. Lastly, figure out a way to associate with them.

Hope this helped. Looking forward to reading your comments.

Respectfully,
Mayur

ABC’s for Success!

Last night, we got a poster called “To Achieve Your Dreams, remember your ABC’s”. I am making it a habit to read this poster every morning, so I remember what I need to do in order to succeed. It is so awesome, I had to share it with everybody and through this blog, I am glad I can do it. So, here it is … your ABC’s for Success!

• Avoid negative sources, people, places, things and habits
• Believe in yourself
• Consider things from every angle
• Don’t give up and don’t give in
• Enjoy life today, yesterday is gone
• Family and friends are hidden treasures, seek them out and enjoy their riches
• Give more than you planned to
• Hang on to your dreams
• Ignore those who try to discourage you
• Just do it
• Keep doing no matter how hard it seems, it will get easier
• Love yourself first and most
• Make it happen
• Never lie, cheat or steal, always strike a fair deal
• Open your eyes and see things as they really are
• Practice makes perfect
• Quitters never win and winners never quit
• Read, study and learn about everything important in your life
• Stop procrastinating
• Take control of your own destiny
• Understand yourself in order to better understand others
• Visualize it
• Want it more than anything
• Xcellerate your efforts
• You are unique of all God’s creations, nothing can replace you
• Zero in on your target and go for it

Hope this helped. Looking forward to reading your comments.

Respectfully,
Mayur