IT MATTERS

Manage Your Money

2012-04-06T10:03:00.002-07:00

Manage Your Money will help you:
• Know what you want to do with money.
• Know where your money goes.
• Know how to save money for your goals.
• Plan your spending in advance.
• Know your credit limits and how to keep
control.
• Organize your financial records.

Dog

2012-03-29T00:14:00.001-07:00

Two Extremes

2012-03-28T05:46:00.002-07:00

Be Thankful

2012-03-28T05:44:00.000-07:00

Thougt of the Day

2012-03-27T22:52:00.001-07:00

No Second Thoughts – Only buy things that you really need. Avoid buying things that you have second thoughts about or aren’t sure you’ll need.

Thumb Rule

2012-03-26T22:23:00.003-07:00

The only Rule

Spend Wisely and Never depend on one Source... how to do it? write me maani84@gmail.com

2012-03-26T22:04:00.001-07:00

1. Reinvest Your Profits: When you first make money in the stock market, you may be tempted to spend it. Don't. Instead, reinvest the profits. Warren Buffett learned this early on. In high school, he and a pal bought a pinball machine to pun in a barbershop. With the money they earned, they bought more machines until they had eight in different shops. When the friends sold the venture, Warren Buffett used the proceeds to buy stocks and to start another small business. By age 26, he'd amassed $174,000 -- or $1.4 million in today's money. Even a small sum can turn into great wealth.

2. Be Willing To Be Different: Don't base your decisions upon what everyone is saying or doing. When Warren Buffett began managing money in 1956 with $100,000 cobbled together from a handful of investors, he was dubbed an oddball. He worked in Omaha, not Wall Street, and he refused to tell his parents where he was putting their money. People predicted that he'd fail, but when he closed his partnership 14 years later, it was worth more than $100 million. Instead of following the crowd, he looked for undervalued investments and ended up vastly beating the market average every single year. To Warren Buffett, the average is just that -- what everybody else is doing. to be above average, you need to measure yourself by what he calls the Inner Scorecard, judging yourself by your own standards and not the world's.

3. Never Suck Your Thumb: Gather in advance any information you need to make a decision, and ask a friend or relative to make sure that you stick to a deadline. Warren Buffett prides himself on swiftly making up his mind and acting on it. He calls any unnecessary sitting and thinking "thumb sucking." When people offer him a business or an investment, he says, "I won't talk unless they bring me a price." He gives them an answer on the spot.

4. Spell Out The Deal Before You Start: Your bargaining leverage is always greatest before you begin a job -- that's when you have something to offer that the other party wants. Warren Buffett learned this lesson the hard way as a kid, when his grandfather Ernest hired him and a friend to dig out the family grocery store after a blizzard. The boys spent five hours shoveling until they could barely straighten their frozen hands. Afterward, his grandfather gave the pair less than 90 cents to split. Warren Buffett was horrified that he performed such backbreaking work only to earn pennies an hour. Always nail down the specifics of a deal in advance -- even with your friends and relatives.

5. Watch Small Expenses: Warren Buffett invests in businesses run by managers who obsess over the tiniest costs. He one acquired a company whose owner counted the sheets in rolls of 500-sheet toilet paper to see if he was being cheated (he was). He also admired a friend who painted only on the side of his office building that faced the road. Exercising vigilance over every expense can make your profits -- and your paycheck -- go much further.

6. Limit What You Borrow: Living on credit cards and loans won't make you rich. Warren Buffett has never borrowed a significant amount -- not to invest, not for a mortgage. He has gotten many heart-rendering letters from people who thought their borrowing was manageable but became overwhelmed by debt. His advice: Negotiate with creditors to pay what you can. Then, when you're debt-free, work on saving some money that you can use to invest.

7. Be Persistent: With tenacity and ingenuity, you can win against a more established competitor. Warren Buffett acquired the Nebraska Furniture Mart in 1983 because he liked the way its founder, Rose Blumkin, did business. A Russian immigrant, she built the mart from a pawnshop into the largest furniture store in North America. Her strategy was to undersell the big shots, and she was a merciless negotiator. To Warren Buffett, Rose embodied the unwavering courage that makes a winner out of an underdog.

8. Know When To Quit: Once, when Warren Buffett was a teen, he went to the racetrack. He bet on a race and lost. To recoup his funds, he bet on another race. He lost again, leaving him with close to nothing. He felt sick -- he had squandered nearly a week's earnings. Warren Buffett never repeated that mistake. Know when to walk away from a loss, and don't let anxiety fool you into trying again.

9. Assess The Risk: In 1995, the employer of Warren Buffett's son, Howie, was accused by the FBI of price-fixing. Warren Buffett advised Howie to imagine the worst-and-bast-case scenarios if he stayed with the company. His son quickly realized that the risks of staying far outweighed any potential gains, and he quit the next day. Asking yourself "and then what?" can help you see all of the possible consequences when you're struggling to make a decision -- and can guide you to the smartest choice.

10. Know What Success Really Means: Despite his wealth, Warren Buffett does not measure success by dollars. In 2006, he pledged to give away almost his entire fortune to charities, primarily the Bill and Melinda Gates Foundation. He's adamant about not funding monuments to himself -- no Warren Buffett buildings or halls. "I know people who have a lot of money," he says, "and they get testimonial dinners and hospital wings named after them. But the truth is that nobody in the world loves them. When you get to my age, you'll measure your success in life by how many of the people you want to have love you actually do love you. That's the ultimate test of how you've lived your life."

Keep Learning and Asking.

2012-03-26T00:45:00.003-07:00

One of the fastest ways to be financially abundance is to learn directly from people who have already achieved this status.

And if you’re not willing to learn, you will never be able to be successful. If you want to get the best pay, you must be the best. And the only way you can be the best is to learn from the best and learn to be the best.

Freelancer/Consultants

2012-03-26T00:43:00.001-07:00

Only contact in case of discussion over financial issues and futuristic approach at

maani84@gmail.com.

Family Talk?

2012-03-26T00:42:00.001-07:00

Whenever you sit with your family either on Dinning table, in Car and living room then what usually talks are about:? Is it about growing money? talking about business doing something of your own? or it is neglecting the business opportunity focusing on Pay-cheque to pay-chqeue? This matters really, what discussion is carried out during family talks.

Rich Dad, Poor Dad

2012-03-26T00:03:00.000-07:00

What is the difference in the world view and attitude of people who become rich compared to other people? What things do they do differently to have such different results in their lives?

Robert also has a definition of an asset versus a liability that is different from conventional accounting. Investors generally focus on accumulating assets and avoid liabilities. Simply stated, assets generate income or cash. Liabilities consume cash. Rich people accumulate assets. People who aren't rich accumulate liabilities. Some things that look like assets are actually liabilities - for example: a residence, a car, a boat. When we accumulate these things, we are not really accumulating wealth, we are consuming it. If we haven't accumulated sufficient assets and we acquire these "toy" liabilities, we are putting the cart before the horse. Instead, we should emphasize regularly acquiring stocks, bonds, tax lien certificates, rental real estate, and other investments. We also need to learn to build value and get some tax shelter by building our own business.

NOTE: Spend wisely

You are not alone

2012-03-25T22:38:00.002-07:00

I remember talking to an old friend, who was working at the time for this, big

Multinational bank. He was serving as their Branch Manager and the pay was

excellent. They'd given him a big car to use. He had recently come back from a

4 day vacation with his wife, from Thailand.

While catching up (I was meeting him after a long time), he asked me about my

projects. He then mentioned how he'd want to start his own business, and quit his job.

Quit such a well-paying job? Why?

Because I have no time for anything else, he said. With so much time committed

at the office, he did not see how the money he was earning can be spent by him!

When I started thinking about it, it became clearer. But no one else seemed to be

talking about it.

I thought I was alone.

I saw GLARING PROBLEM with how we - as a society - have chosen to value

our lives.

I found it difficult to talk about the problem. It seemed HARSH. But it also seemed

to be TRUE.

And what was that glaring problem?

It was that we spend 14 years or more on "educating" ourselves, our children,

paying for schooling, adjusting our schedules around the school... and for what?

So we can be a servant?

I told you it was a bit harsh.

Note, there is NOTHING wrong with being a servant, please.

But why are we TRAINING to be a servant?

Should not that be a last-resort type of thing?

You may be earning the right amounts of money, but do you have time to pay

attention to other very important aspects of their lives, such as relationships,

your own health, your contribution to society in general?

EVERYONE agreed that the best way to earn money is via your own business.

Everyone agreed to that!

STILL we persisted on TRAINING to be employed by others! Why? Was this

out of ignorance? Or was it out of fear?

Shouldn't the money spent on "educating" me be used in teaching me about

self-employment? About starting my own business? About dealing with money?

About living a WHOLESOME life?

I always thought I was alone in thinking like this.

It turns out, hundreds of discussion, emails and email subscribers later, than I am not.

I want you to know that it is my MISSION to HELP PEOPLE become self-employed. I want to encourage people to try creative ideas.

I want to spread this message that it is OK to think differently, it is OK to find the

current system WRONG, and most importantly, it is NECESSARY for each one

of us to fix it in our own lives!

I want you to know that you are not alone.