Rich Dad v/s Poor Dad

A different genre book is what I took up this time upon the insistence of my colleague. Nevertheless, it turned out to be a very interesting, exciting and facts-revealing read!

I could never guess the content/theme of the best seller just from its title. When my colleague used to mention the facts therein, I was just open to contradiction as they used to seem ridiculous. However, this book completely wiped out my inherent perceptions and lent me a different outlook towards acquiring what’s called as ‘Financial Intelligence’.

Below are few lessons/takeaways from the book that primarily makes the reader understand the differences in perceptions/ideologies of a Rich Person and a comparatively Poor Person.

1. The author says poor dads teach their kids to work for money. However, the rich counterparts teach how they make money work for them. He further brings out the contrast between the ways they think. Poor dads averse risks while the rich ones know that the ultimate pleasure lies in taking risks and have learnt how to tackle them over the course of time. Working under someone makes one dependent. While working for self makes one financially independent. This way one isn’t a slave, but a master. One should strive towards mastery.

2. It doesn’t matter how much money one makes but that how much one saves/keeps. An individual’s financial skills/patterns are often reflected by the way one earns/spends. Two simple cases arise;

If Income = Expenditure, then Savings = 0. This is the usual scene for middle and the middle and lower strata of the society – yes, with some exceptions.

Even if one is an average earner, the spending patterns and liabilities[with priorities set] will play crucial roles in the savings one makes.

The rich differ in the way that Income > Expenditure. The inequality is enough to explain why the rich get richer. Probably, this very ignorance allows the commoner to question about the rich.

There are two important terms that need introduction.

Liabilities – Those that take away money from one’s pockets. Focus area of commoners.

Assets – That put money into one’s pockets. Focus area of the rich.

3. The author urges the readers to imbibe financial intelligence. He asks the financial literates to earn assets and not liabilities, to focus on the asset column rather than the income column.

4. He also says that the rich play smart. Introducing the tax system, the author dwells deep into the facts that rich earn, spend and then pay taxes, while the rest earn, pay taxes and then spend owing to which the latter end up spending more on taxes than the rich. A very very notable difference!

5. It’s the bold, not the smart who march ahead. Four skills are of prime importance to acquiring financial intelligence – accounting, investing, marketing and law. Risks should not keep us restricted, rather start working smartly to generate money.

6. Fear is one such inhibition that afflicts many and restrains them from pursuing their goals. As such, irrespective of the talent one possesses, fear takes the toll. We must learn to get over the fear and start taking risks.

7. People who lose are the ones who eventually win. One must find opportunities to turn failures into successes by learning from them. Losers are those for whom fear of losing conquers the passion to succeed. The author also says that the ‘I-don’t-wants’ block one’s mind and don’t allow one to look further. One must avoid these and face them as they are encountered.

All in all, the author raises points that we commoners fail to look or we know but don’t pay heed to. Some mind blowing facts that would take you by a surprise. Lots of takeaways!

A must read indeed!


BCL 2015 – Trophy Is Ours!

Oh My My!

Never ever in my wildest dreams did I think of playing cricket, especially when I belong to the flock of silent spectators 😛

However, some unexpected events do happen. As such, our Account Level Cricket Tournament, Yes – it’s the BCL 2015 – was here again. However, 2015 was different.

Okay, when I am referring our cricket league, I point specifically to Women’s league. Men’s league is out of range 😛

This time it was all different. BCL saw a whopping nominations of 5 teams – a rarity in the history of BCL. We girls from our Line of Business had just enrolled on the go. Winning was simply out of sight. We had freshers, experienced and even managers in our team.

Well then, it came to notice that we would be having a coach – yes, you read it right! We were mentored under the guidance of Mr. Kabir Khan – one of my own team mate.

He briefed us with the terminologies of cricket. And, then we were good to go with our practice. Ah! What day they were. We used to make it early to the office just to practice under the scorching sun. Must appreciate our coach who used to take time out of his own work/practice sessions just to guide us and point out our mistakes. He made us practice rigorously owing to which we were getting transformed into no less than perfectionists 😛

Body pains and injuries [no major ones though :P] did not deter us from practicing and coming up with our action/strategy plan.

I found I was comfortable with batting as bowling made me only worse 😛

The practice sessions helped us assess each one of us and the mistakes we had been making.

And then, the day came – our first match. We had already pre judged the field and decided on our proceedings when our turn came. We won the toss of the evening and we opted to bat. The best thing about our team was we had the best batswomen, bowlers and fielders at stake. This was leveraged very well. Our batswomen proved their mettle and we created a decent score in six overs.  The world class bowling and fielding saw the opposition yielding in little soon and we were there celebrating our victory. A similar story ensued for the next match [semis] as well. This boosted our confidence like hell.

We had to carry the momentum for the finals. After some inhibitions, we were good to go for the match. It was yet another interesting match. We had our team cheering for us. An excellent team work helped us win the finals as well. Ah! What a sight! Everyone lauded us for our efforts. This was conveyed to our management as well. A moment of pride for our Delivery Manager who was elated to the core and congratulated us in front of the entire zone! 😀

Above all, it was the first time ever I played one. I was always more inclined towards badminton. Cricket was just for visual entertainment purposes 😛

However, this experience is worth remembering. It taught me few quality lessons. In spite of differences, a team work is what counts in the end. A single player cannot lead a match like cricket. For excellent team coordination, we must leave all our egos aside and view only our goal. We must play with our strengths and utilize them for maximum benefits. Everyone is gifted. We just need to explore and play out. We must overcome our weaknesses and get over the roadblocks. To add, a good mentorship always makes a huge difference! 🙂

A Huge Congratulations to my team and everyone who made the matches worth enjoying.

Special Thanks to our mentor and our leads/managers who encouraged us all the times 🙂

Let’s keep the spirits up as always!