Habits of success : Act now, Do it now

"Do not wait; the time will never be "just right". Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along." - Napoleon Hill

Do you know what is the major obstacle for a person to achieve success? It's called PROCRASTINATION. Some people will always be waiting for the right time to do something significant in their life. The problem is that there is no such thing as the right time. Want to open a business? Do it now. Want to quit smoking? Do it now. Why wait? An action is far more better than sitting still and doing nothing.

Monday Blues

“The man who does not work for the love of work, but only for money is not likely to make money nor to find much fun in life.” - Charles M. Schwab

Ask any ordinary people why they wake up in the morning and go to work diligently and they will tell you that they work for “a living”. How can I suppose to feed my family if I don’t work? I prefer to spend more time with my family but that won’t pay the bills. That’s why there is a term called “Monday Blues”. God gave us seven days a week to enjoy, but we choose to enjoy just two of the seven days given; Saturday and Sunday. Isn’t that a waste?

We should always keep our thoughts in a positive mode to any thing that we do in our daily life and that includes working. We should live our life with passion. The right spirit and attitudes can make any necessary work pleasant. If we enjoy our work, everyday will be a Saturday and Sunday. The attitude that we bring to our work has everything to do with the quality and outcome of the work produce and the influence it brings to our character.

Strategy for Financial Freedom

1. Start a side business as soon as possible.
The strategy is to create as many sources of income as possible. If you depend on just one stream of income only, the possibility of reaching financial freedom will not be as quickly as you want. Making money out of your hobby is the best way to start.

2. Buy at least one property.
Peter Lynch once stated in his book One Up on Wall Street "Before you do invest anything in stocks, you ought to consider buying a house, since a house, after all, is the one good investment that almost everyone manages to make. I'm sure there are exceptions, such as houses built over sinkholes and houses in fancy neighbourhood that takes a dive, but in 99 cases out of 100, a house will be a money-maker."

3. Knowledge is everything.
To win a war, you must know the enemy inside out. To win a game, you must know the rules of the game inside out. To win the game of life, you must know the rules that govern our everday life. By reading books, and I mean real books, not newspaper, magazines and etc. you will gain the advantage of shortcutting your life experience by learning other people's experience who have gone through life before us. By knowing and learning other people's success and mistakes, we can make the right judgement beforehand and therefore leaping ahead successfully.

Building up financial intelligence

1. Don't get into large debt positions that you have to pay for. Keep your expenses low. Build up assets first. Then, buy the big house or nice car. Being stuck in the rat race is not intelligent.

2. When you come up short, let the pressure build and don't dip into your savings or investments. Use the pressure to inspire your financial genius to come up with new ways of making more money and then pay your bills. You will have increased your ability to make more money as well as your financial intelligence.

Excerpt from Rich Dad, Poor Dad by Robert T. Kiyosaki

How do you eat an Elephant?

"People who write their financial goals get rich. It's a fact." - David Bach, The Automatic Millionaire

I once have been asked this riddle, "How do you eat an Elephant?'. After pondering it for five seconds and thinking that it might be a trick question, I answered, "Eat it with your mouth, of course." It's a nice try but it turns out it was not the answer. The answer to the riddle was a very simple one "Eat the elephant piece by piece."

Eventhough the riddle is just for fun, the answer for the riddle have made me thinking in terms of financial perspective. I change the question and ask to myself "How can you get a million dollars?".. and the answer to that of course, similar to the eating the elephant's riddle, is "small step at a time". Your goal can be as large as an elephant, but the step towards it can be one step at a time. The trick is to keep on moving and never stop. Slow and steady progress is better that a stagnant position. Do not feel dwarf by your ambition and goals. With PATIENCE, you can achieve impossible dreams.

Your Boss is the last person who wants you to be rich

There are many path for us to achieve financial freedom, but the majority of us choose the path of job security. How can we blame them. The education system was shaped to produce workers and not entrepreneurs. Many people realised that as the company their working with starts to prosper, the owner of the company is the one who eventually benefits and the employees usually are not much richer compared to the first day they started working there. The reality is that the boss is not responsible to make you rich, but their responsibility is just to make sure you got your paycheck by the end of the month. It is your responsibility to make sure that you will end up rich and not somebody else.

Quotes of success

The essence of any plan for financing old age is saving - to put aside some part of today's earnings for the future. Anything that saps the value of savings - and inflation is the worst single threat - is the enemy of the aged and of those who exect to grow old. Bernard M. Baruch

Men never plan to be failure; they simply fail to plan to be successful. William A. Ward

I can give you a six-word formula for success: 'Think things through - then follow through.' Edward Rickenbacker