Learning about money

I was born in Nepal and grew up in the Nepalese culture. Growing up, most of our conversations about money focused on saving money and keeping some money aside for those “rainy” days. We didn’t talk much about investing, assets, credit, debt, credit cards etc. Schools and colleges didn’t teach us about money management either. In educational institutions, we learned about business, how to make money, how to get a good job among other things but learning about money itself was left to ourselves.

Looking back, I believe we should talk about money around the dinner table, in the classrooms and around the workplace. As an individual, learning about money should come before we get credit and debit cards. We should know how credit cards work, how to build an excellent credit score and why it’s important to build a credit history. Similarly, a credit course or even a non-credit course on personal financial management in schools and colleges will make students more smarter on managing their money. The sooner we learn about money, how to earn money, and manage money, the better for everyone.

Getting back to the human experience

There’s a stat that I recently came across: Over 60 billion online messages are sent on digital platforms every day, With the volume and frequency we are communicating these days, whether this leading us to become closer or farther is a separate conversation.

The precious moments in today’s context are being present in the conversation (not being on the phone/laptop when someone is talking/around you), being empathetic (not just sharing emojis and icons on a smart device), being alive and actually living (not measuring our worth through likes/comments/other notifications). Times have changed- yet the most valuable and precious moments are shared and lived when we are just being humans.

Making a small difference

The vision needs to be big. However, the start and continuous progress needs to be small.

To achieve anything monumental, having a big vision is crucial. If it’s not challenging enough or interesting enough, we’ll probably get bored quickly or lose interest easily. That grand vision alone will not mean anything if the action is not there. Taking small steps towards that vision will help build momentum, keep us on track, and most probably lead to a better result.

What’s the smallest possible unit that you can work on towards the vision today?

Is the bike worth it?

Getting a bike (or any vehicle or any big purchase) has two sides. The benefits are easier mobility from point A to point B, saved time and money over a long period of time. The costs are its regular maintenance, fuel, insurance and tax.

For any big purchase, the benefits comes with the costs. An important thing to consider is the opportunity cost. What’s the opportunity cost to having or not having a bike? Are you investing in an asset? If the bike can save you lots of time, create other income generating opportunities from it and give you a better quality of life, why not get the bike?

Adapting to change

The only constant in life is change.

We’ve heard the age old adage many times. We’ve even given the same advice to others at times. Yet many of us have a hard time adapting to change. We’re wired for staying in our comfort zones and with what we know and who we know. Sometimes the cost to not adapting to change is minimal while other times it can have a big impact.

Does that mean we should be constantly changing? Not really. I believe we should be really aware of what is happening around us and evolve accordingly. For example, if you work at a startup, there could be changes in roles or functions often, and the more adaptable you are, the better. If you resist the changes happening around you, then the company or the people might just let you go since you’re not adapting to the changing environments. You have to learn to cope with the changing environment – personal or professional and evolve. It’s better for your own personal and professional growth.

Morning routines for success

If you flip the pages of Tools of Titans by Tim Ferriss, you will find many stories of successful people describing their habits, routines and what they do on a daily basis. The book is labeled as Tools of Titans The Tactics, Routines, and Habits of Billionaires, Icons and World-class performers.

One main takeaway for me from reading many of the habits of the uber successful people was that there’s no one particular routine that works for everyone. You create the routine and habits that works best for you. It’s not just the morning routine that guarantees your success, there’s plenty of other things that are equally or even more important. I took the book as an excellent reference to know what successful people do, what made them successful in the first place, and how they stay successful.

Money resources

Some good resources related to money:

4 Spending Habits We All Need to Break

7 Money Habits Every Millennial Should Develop

The Psychology of Money – How Saving and Spending Habits are Programmed in Your Brain

7 best income generating assets to invest in today

Ultimate guide to personal finance

Being thankful for…

I’m thankful for my family, friends, and colleagues.

I’m thankful for the challenges, hardships, and struggles.

I’m thankful for the small and big victories, achievements, and feats.

I’m thankful for the people who push me to be better in any way.

I’m thankful for this beautiful life we all have.

Happy Thanksgiving!!!

A college degree

What’s a college degree worth today?

Is the college experience more valuable than ever because learning will be continuous and the degree itself is not the only real achievement?

What’s the value proposition of going to college these days?

If you don’t go to college, how marketable will you be in the job market?

Is college for everyone?

Growth mode

A startup (should) operate in a different way when it goes from survival mode to growth mode. When the idea is launched, it gets tested in the market. If the startup is solving customers’ problems, is entering a good industry, is competitive, timing is right, and many other things including luck, the startup takes off. There’s a certain type of leadership and management needed when it is focused on surviving in the market.

Once the startup gets some ground, it should operate in the growth mode. A growth mode is different and a certain type of leadership and management is needed in this phase. What got the startup to the growth phase does not guarantee it will take it to the next level. In the growth mode, hiring the right people, retaining the loyal employees, maintaining the culture, taking on newer challenges, and many other things are important.

Which mode is your startup on?

Bill Gates’ reading habits

On choosing books to read

There are couple of ways to choose your next read.

Go to a bookstore and pick the latest book or the book of your liking. Read online book reviews and buy it online/at a bookstore. It’s much easier to find great books to read nowadays. Although at times I’d like to pick a book without reading any reviews, there are times when hearing from other experiences on a particular book gets me interested in it. Here are some of the books I’ve read or want to read.

If you really like reading book reviews or summaries before picking your next read, check out Derek Sivers books page on his website where he has tiny summary and detailed notes for each book he has read so far. If you like to remember what you read, check out Farnam Street’s How to Remember What You Read.

A rich life

For him, a rich life is a suitcase full of cash

That suitcase which always stays full and never runs out

For her, a rich life is a suitcase full of time

That time which always stays available and never runs out

For him, money makes the world go around

So the more the merrier

For her, time is the most precious thing she has

So the more the merrier

What if he has more time but less money?

What if she has more money but less time?

What is a rich life after all?

Are you living a rich life?

When you’re famous…

You’re magnetic. The press wants to talk to you, the celebrities want to be around you, and fans seem to be everywhere. You’re pulling everyone and everything towards you.

I would love to know who was there for you from the start before you achieved the fame. Who was the one or the few people who believed in you when you had that “crazy” idea? Who was holding you down when things were not going right or not going anywhere? Who gave you some real advice but still stuck with you through thick and thin?

When I see the newly crowned “celebrity”, I’d love to know the people around them who got them there. It’s easy to celebrate that one individual who is getting that spotlight but somewhere out there is a bad ass team that is making things happen behind the scenes.

What gets employees going?

An intern joined a startup. The intern completed her paid internship. She graduated college and started working at the same company full-time. She was motivated, dedicated and hungry since day 1. Fast forward 7 years, she still has the same zeal for the work.

What got the intern, then employee, then manager and then a director going? Was it the opportunity, pay, growth of the company, managers, all of the above or something else? What got the employee going for all these years?

How interesting is your book?

Each person’s life is a book. It’s a journey. You write the chapters.

When you write the different chapters of your book, how do you feel? How are you going to write the next chapters of that book? Will it be more of the same from before or are things going to be different going forward?

Many of us are fortunate to write an interesting story-something we could be proud of in the long run. We are writing a page of our book each day. If you were to look back on your autobiography in 20 to 30 to 40 years, are you going to be proud of the journey or wish otherwise?

Information overload

With the advent of the internet, information is now at the tip of our fingers. There is (almost) no lack of information on any subject from any part of the world. With so much information on the web, it is becoming harder, challenging, and almost unmanageable to get to the right information from a credible source.

Questions arise on this information overload:

Would it be better to have a centralized single country specific or global specific credible authority on a subject?

Is the web benefiting more the people/companies with resources (fast processing computers, larger capital etc) because they can afford to generate more attention, engagement, and reach than others with less resources? Additionally, when a person/company builds strong SEO, algorithms, and other tools to attract users to a site, are the web/search engines chasing the noise than anything else?

As more data gets generated with more access to smartphones and processing power, would we as humans become better decision makers with more data or become more confused/numb?

We’ll have to go back to how the web started in the first place. What was the purpose of the internet? With changing times, has the purpose of the internet changed as well? Where is the web headed to?

Being present

Every now and then, there comes a moment that changes everything.

We all have those moments. They don’t come too often and once they do, we need to really be aware and take full advantage of it. Just showing up is a step forward. Most people don’t show up-they get lazy, complacent, or not aware of the opportunity in front of them. Being present and in attendance can open doors, unlock opportunities, and literally change your life for the better.

Positive vibes

Positive vibes will attract positive energy which will lead to positive results.

That seagull

Jonathan Livingston Seagull was not your regular seagull. If Jonathan was a regular seagull, I probably won’t talking about him neither would you. Jonathan Livingston Seagull loved to fly, loved it so much that he went against its own flock to reach for the sky. An outcast to its own flock, he chased his dream to fly until one day it was soaring high in the sky like no other seagull had done it before. Then gradually the flock started to embrace Jonathan’s courage, perseverance, and come to understand his dreams.

Yes, Jonathan Livingston Seagull by Richard Bach is a fictional story. The above scenario is all too common in our societies. We talk about change, highlight it/glorify it but at the end of the day very few of us go out of our way to chase something bigger. We stick to what the “flock” is doing, what they would say/think/feel, and our dreams/goals never get any legs.

What if we resisted limiting others’ dreams/goals by criticizing it or doing unnecessary harm? What if we found “that seagull” among us who is daring to fly high in the sky and gave them all the runway that we possibly can? What if we helped create more seagulls like that?