Make reflection a part of our life ritual if you want to take your life to a new direction. So take out your journal and reflect on your previous month by asking and answering precisely these 5 questions: <ul><li>How did my previous month go? </li><li>What happened on the previous month that I am grateful for? </li><li>What didn’t go so well? why? </li><li>How can I do better this time? </li><li>What did I learn last month? </li> </ul>

1. Reflect on your previous month

Setting goals on a monthly basis puts you forward in the right direction towards your major goals. Write down these goals. I repeat, WRITE.DOWN.YOUR.GOALS where you can regularly see. Don’t just have them in your mind. I cannot explain but there is something very very powerful about <a href="https://www.forbes.com/sites/markmurphy/2018/04/15/neuroscience-explains-why-you-need-to-write-down-your-goals-if-you-actually-want-to-achieve-them/?sh=62fb572d7905">writing down your goals </a>and regularly seeing them. It makes your goals 10x achievable than if you don’t. Also don’t have more than 3 goals because you want to keep your focus narrowed.

2. Write down your goals

As you begin with a new month set out and create a plan. This plan must consist of actionable things that will move you towards reaching your goals. You can keep an app as a planner but personally I prefer a handwritten planner. I have a notebook for this.

3. Set your planner:

You might think what you should invest on? Well there are two things you can invest <ul><li>First, your time </li><li>Second, your money. </li> </ul>If you don’t have money, then you can always invest your time in learning or doing something which will benefit in future.

4. Make one investment for yourself

Never leave your bills due. Pay them right at the beginning of each month or schedule them so you won’t forget it. This also clears huge amount of stress and is really essential if you want to simplify your life.

5. Pay/schedule your bills

Most people have huge debts and are constantly stressed about how to improve their financial condition but do nothing to keep a check on their financial situation. They think that someday money will just come and they will have all their loans and debts paid off. But it really does not work that way. You need to know exactly how much money you owe to someone or something and how much you are left with after your savings and after all your expenses.

6. Check your money situation

Start off your month strong by picking a book or books you want to read at the beginning of each month. Even if you aren’t much of a reader if you actually just pick a book to read every month you are more likely to read and in 12 months you will have read 12 books!

7. Choose a book to read

You can keep track of any of your habit or start a 30 day challenge and track it down in a wall calendar.

8. Mark events/meetings on your calendar

Another thing to do on a monthly basis is to make/ update your lists. Keeping lists help you to be organized and have everything in one place so you don’t have to keep looking time and again. Here are some lists to make a beginning of every month <ul><li>Your to-do list for the month ahead </li><li>List of pending things from last month </li><li>List of books you want to read </li><li>Shopping list of things you need to buy </li><li>List of meetings for the month ahead </li> </ul>

9. Make/update your lists

Keep the first week of each month for cleaning and decluttering purpose. Decuttering at the beginning of each month makes you actually feel like you are starting your month ahead in a clean slate. Here are some major things to clean and declutter on a monthly basis probably at the beginning of every month to give you the feels of a great start of the month. <ul><li>clean your fridge </li><li>clean your purse and bags </li><li>clean your car </li><li>Clean your closet </li><li>Declutter your phone </li><li>declutter your files </li><li>Declutter your inbox </li> </ul>

1o. Clean and Declutter

With all the things that you contantly do for others, don’t forget that it is you who has the greatest part to play in your life and hence you deserve to treat yourself. At the beginning of the month choose how you would like to give yourself a treat. Maybe it is buying something you have been wanting to buy, going out to your favourite restaurant, enjoying a nice spa or anything as such. For this, keep atleast 10% of income for your fun expenses and you can use this to treat yourself and doing whatever you wish guilt free or without any worries of overspending.

11. Choose how you want to treat yourself

Prayers are simply inner determination and your inner resolve. You can pray for anything. I hope you pray for strength, pray for courage, pray for patience and pray to have enthusiam to make all your dreams come true.

12. Write down your prayers

Want to know how to make your new month stronger? Here are 12 major things to do at the beginning of each month to start your month right.

productivity

Productivity

personaldevelopment

Personal Development

moneyandinvestments

Money & Investments

habits

Habits

12 things to do to start your new month strong

Looking at the example of Uber, which upended the taxi services a few years ago, your business is not safe even if you are already making nice profits and the future looks bright.
After all, even protected monopolies eventually get disrupted. What you need is to make sure you can stay profitable in the years and decades to come.

Disruption Is Inevitable

The key to profitability is to recognize what businesses are and do from the perspective of the whole economy. Businesses formulate strategies to position themselves with respect to each other and thereby earn profits. So the economic context matters, because it is within the economy that you run your business. 
In the startup phase, the entrepreneur tries to find and populate a “gap” that allows the business to become profitable. But the same is true for the existing business, which must continue to consider its positioning to stay profitable.

Profitability Is To Meet The Future

Profits are rewards for a job well-done. But to maintain profitability, your sight must be set to facilitate future value. After all, the line of production that you’re considering today will not be instantaneously available to your customers. 
The value they get from the goods and services you set out to produce will without exception happen in the future. In other words, profits indicate you did something right. But profitability is a matter of meeting the future.

Staying Afloat And Thriving

The key to profitability is to imagine how you are contributing to making consumers better off.
In our advanced economy, with two-thirds of all spending being business-to-business (B2B), your customer may not be the consumer. But the consumer is the user of the final product and therefore the one that determines its value. The consumer, therefore, determines also the value of all contributions in the supply chain, albeit indirectly.

The Consumer Is King

To stay profitable over time, look beyond your customer and consider your contribution to the value of the final product. Even if your customer does not recognize it, you should meet the opportunity and innovate to offer your customer an upper hand.
If you make your customers thrive, your business thrives. The key is to think about the consumer whether or not you serve them directly.

Staying Profitable Over Time

For lasting profitability, entrepreneurs should focus on contributing to consumer value. This applies to business-to-business too. 

Discover the world of business and economics.

economics

Economics

business

Business

startup

Startups

How to Maintain Profitability in a Changing Market

Perosnal blog featuring ideas and articles related to the world of<ul><li>Finance</li><li>Business</li><li>Economics </li></ul>

The Simple Rupeee (TSR)

Personal Blog featuring self analysis and research about various topics regarding the world of finance and economics.

The Simple Rupeee

Personal Blog featuring self analysis and research about various topics regarding the world of finance and economics.

crypto

Cryptocurrency

At different points in our lives, we want different kinds of jobs:<ul><li>Growth point: When we prioritize learning and earning more — and we’re willing to put in the time</li><li>Lifestyle point: When we want to prioritize our time outside work, such as taking care of family</li><li>Reinvention pointWhen we want to completely reinvent ourselves, including the role and even industry we work in</li></ul>

Different Points = Different Wants

Whenever Ramit Sethi, author of I Will Teach You To Be Rich, asked people what they wanted from a ”dream job”, one of the most striking things about their answers was how different they were. Some people wanted to step back into their career full time after a hiatus. Some wanted to be able to spend more time with young kids. Some wanted to pursue meaningful work in another industry. All Dream Jobs. All completely different!

Dream Job: To Each His Own

But, then, as well as now, if these people ask for help with how to reach their Dream Jobs, the common answers are all the same:“Just follow your passion!”“Just be thankful you have a job!”“Just do good work and you’ll be rewarded eventually.”(Have you noticed how so much bad advice starts with “just”?)Our career goals aren’t generic and one-size-fits-all. So why is all career advice generic and one-size-fits-all? Why are the tactics we use — like surfing job boards and shotgunning out resumes — so generic?

Career Advice: To All The Same

We all go through different phases in each of our careers. Some of us are early in our careers, looking to grow and soak up knowledge. Sometimes we want to downshift, or prioritize family. And sometimes we want to reinvent ourselves entirely.Ramit Sethi calls these different phases “Career Seasons.” Just like the seasons throughout the year, they’re natural. They change over time. And you may cycle through them more than once.“Your Season has profound implications for the jobs you look for and even the way you search for your job.

Introducing “Career Seasons”

Most of us started in this Season early in our careers. Some of us are still in it! In the Growth Season, we’re motivated by moving up the career ladder and making more money. We’re willing to put the time in and we don’t mind working hard. Here’s a quote from someone that instantly tells you that they’re in the Growth Season. “I feel like I’m falling behind compared to my peers. They’re moving on to senior management titles, director titles. I’m seeing everyone else have upgraded titles, so I say, ‘I want it too.’”

The “Growth” Season

People in the Lifestyle Season still value their work and career, but they also have other equally important goals. Here’s a classic quote describing the Lifestyle Season:“I want to spend as much time with my kids as I can. I do not want to work 60 hours a week anymore.” Notice these phrases, which instantly tip us off to the Lifestyle Season: “Flexibility” (or “flexible schedule”), “downshift,” or “family.” You may think about work/life balance if you’re going into a Lifestyle Season.

The “Lifestyle” Season

Reinvention Season describes people who want to totally reimagine and change the course of their career, usually by switching industries. Imagine a lawyer who wants to leave her firm and join a start-up. Here’s a quote from someone in Reinvention Season: “I have 12 years of financial sales experience, but I feel pigeonholed onto a sales track and don’t enjoy the work. I’ve always wanted to transition to a computer science field, but have no formal experience.” You’ll hear typical phrases like “fresh start” to describe this Season.

The “Reinvention” Season

1. No Season is better than the others.No judgment against any Season — it’s your Season. You choose what’s right for you now. Think of the previous quotes. For some, one or more of them sounds terrible. For others, this is exactly where they are.That’s the point! The right Career Season sounds exactly right to you… and wrong to everyone else. .

A Few Notes About Seasons

2. We naturally move in and out of Career Seasons as we get older. Just like actual seasons. While it makes sense to want all of these things to happen simultaneously, some things are just more appropriate for certain Seasons. You can choose the right Season for you — but you can only pick one.For example, it’s very difficult to embrace the Growth Season and the Lifestyle Season at the same time. Think of what each one asks of you or what you ask of it. So, you can try, yes… but doing so makes it difficult to make any meaningful progress in either.

3. Finally, EVEN if you feel like you could be in multiple Seasons, you NEED to pick ONE. This is hard, especially for top performers who like to go above and beyond. But you will find that trying to do more than one at a time means not doing your best at either. (And Ramit Sethi knows he is repeating here, but he’s repeating this because it’s so important.

Ramit Sethi argues that, just like there are seasons in our life, there are - and must be - seasons in our career and that without understanding “our” Career Season, we can’t and won’t find a job that’s perfectly made for us. 

I’d like to introduce the concept of Career Seasons to you — which will help you find a job that’s perfect for you in this season of your life.

career

Career

leadershipandmanagement

Leadership & Management

Career Seasons: Choosing a Job Based on the Lifestyle You Want

When you see someone is driving a nice car, you rarely think, "Wow, the guy driving that car is cool." Instead, you think, "Wow if I had that car people would think I'm cool." Subconscious or not, this is how people think.There is a paradox here: people tend to want wealth to signal to others that they should be linked and admired. But in reality those other people often bypass admiring you, not because they don't think wealth is admirable, but because they use your wealth as a benchmark for their own desire to be liked and admired.

Man In The Car Paradox

There is an iron law in economics : extremely good and extremely bad circumstances rarely stay that way for long because supply and demand adapt in hard-to-predict ways.

Iron Law Of Economics

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people. Money—investing, personal finance, and business decisions—is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

Understand yourself and those around you.

psychology

Psychology

books

Books

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people. Money—investing, personal finance, and business decisions—is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

Morgan Housel is a partner at The Collaborative Fund. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism. He lives in Seattle with his wife and two kids.

Morgan Housel

The Psychology of Money

The Balancer community has begun integrating itself with other decentralized finance protocols by trading its governance tokens for those of other DAOs, also known as treasury swaps. This could be the start of a larger trend of DAOs taking a more active role in other DAOs, using the strength of their holdings to trade for influence across decentralized finance (DeFi). Holders of Balancer’s governance token, BAL, are considering two proposals now, from <a href="https://mstable.org/">mStable </a>and <a href="https://www.prime.xyz/">PrimeDAO </a>, following a successful proposal from the algorithmic <a href="https://fei.money/">stablecoin project, Fei </a>, that closed on November 12.

What does it mean when lots of DAOs all own little pieces of each other and participate actively in each other’s governance process? It was one thing when<a href="https://thedefiant.io/keep-and-nucypher-propose-decentralized-protocol-merger/">NuCypher and Keep merged </a>their encryption protocols because that was a clear case of two becoming one. With proposals like this, however, DeFi is becoming a blockchainified<a href="https://en.wikipedia.org/wiki/Rat_king">rat king </a>of endeavors. It’s anyone’s guess where that leads, but at least all the alignment will be viewable on-chain.

<a href="https://vote.balancer.fi/#/proposal/0x7972e1700ac30495ad936038b66055b1e6420c3de5ed1fec963abe5faa2d16a3">With Fei </a>, the Balancer DAO voted to trade 200,000 BAL from its treasury for equal parts of Fei’s two tokens: FEI, its stablecoin, and TRIBE, its governance token. This deal directly benefited Balancer because Fei committed to make a BAL deposit into Balancer’s BAL/WETH pool, using its own supply of ETH to match the BAL, which would increase the total liquidity available on Balancer. The deal enables Balancer to lock in some of its treasury value with a stablecoin (which is insurance against a downturn), and to earn yield using Fei’s incentivized staking program, should it choose to do so.

The stablecoin yield platform mStable wants Balancer to become an active part of its governance process and to advocate for BAL holders. To that end,<a href="https://vote.balancer.fi/#/proposal/0x6ef03b401d15183bb83c4cc87126cf95579f774b7067e502528b1a37c9af7e05">mStable has proposed </a>a trade between the two projects treasuries: 20,000 of Balancer’s governance token, BAL, for MTA, mStable’s governance token, of equal value ($322,000 as of later afternoon Wednesday in New York).Soon, mStable will release its own version of<a href="https://resources.curve.fi/base-features/understanding-gauges">the gauge </a>used by the decentralized <a href="https://thedefiant.io/curve-convex-governance-crv-control/">exchange for stablecoins, Curve </a>. Curve uses the gauge to decide how much of its daily CRV emissions go to depositors in its many liquidity pools.

mStable

Meanwhile, <a href="https://www.prime.xyz/">PrimeDAO </a>wants to get<a href="https://vote.balancer.fi/#/proposal/0x5d6694d2517841cb9831ea75ea7ba6d66fa123f1064fada2c7b8155682dc3ced">Balancer directly involved </a>in its operations.This is the most complex deal. PrimeDAO is asking for 25,000 BAL ($405,000) which it will use for a pool with equal parts of its token, PRIME, and BAL on Balancer. Then it will return half the liquidity provider tokens for that pool to the Balancer treasury, so they will each benefit from trading fees and BAL rewards on the pool.PrimeDAO further commits in the proposal to strike similar deals with other protocols for jointly owned liquidity pools on Balancer.And 156,000 BAL have voted for this proposal.

PrimeDAO

The Balancer community has begun integrating itself with other decentralized finance protocols by trading its governance tokens for those of other DAOs, also known as treasury swaps.

Balancer DAO’s Treasury Is Rapidly Diversifying Across DeFi - The Defiant

The first tip Musk gave was that people should "try to be useful." "Do things that are useful to your fellow human beings, to the world," the billionaire told Fridman. "It's hard to be useful — very hard." If someone is living a useful life, it's a "life worth having lived," Musk said.

Be useful

The second piece of advice he mentioned in the podcast was that someone should contribute more than they consume. "Try to have a positive net contribution to society," he told Fridman. "That's something to aim for." Musk said on the podcast that he has "a lot of respect for someone who puts in an honest day's work."

Contribute to society

Musk also advised young people not to try to be a leader for the sake of it. "A lot of the time, the people you want as leaders are the people who don't want to be leaders," he told Fridman.

Don't try to be a leader

Musk told Fridman that he read through the encyclopedia as a kid. "I would encourage people to read a lot of books," he said. "Try to ingest as much information as you can, and try to also develop a good general knowledge so you at least have a rough lay of the land of the knowledge landscape."

Read books and ingest information

His final piece of advice was for young people to talk to others. "Talk to people from different walks of life and different industries and professions and skills," he told Fridman. "Learn as much as possible."

Talk to people

Elon Musk's advice to young people included being useful, not trying to be a leader, and reading books, he said on the Lex Fridman Podcast.

problemsolving

Problem Solving

Elon Musk has 5 key pieces of advice for young people who want to be successful in life

2021 is almost over, as we head towards 2022. I want you all to focus on these key areas in 2022 that are (Yourself, Passive Income, Mental Health, and Health) lists are short in this article. And, I truly believe that this shortlist will be a guiding light towards a new you.

When you invest in yourself, it gives you the best return. Because no one can take away what you have learned. And more and more you invest in yourself. Whether, learning through courses or books, or mentorship, It not only compounds together, and brings the best return in the future. You can use it anytime, you want as it stays always at your disposal to be used anywhere you need.

Invest in yourself -

Until and unless if you don't have passive income. You will have to work till your last breath. When you earn money while you sleep is the beauty of passive income. You can make passive income, by investing in Stocks, doing Affiliate Marketing, selling courses, or selling eBooks. Or it could be Real estate. And the list goes on.

Learned, how passive income works

There is one beautiful line from a dying Entrepreneur " I have money, cars, and private planes and I can do and go anywhere I want. But, my health is not with me anymore " We neglect our health, and Then, one day it asked for a return through illness. So, invest in your health learn about nutrition, go to the gym, exercise regularly. So, that is after 20 years or 30 years from today. When your health asked for a return it should be good health.

Invest in your health and Mental Health 

health

Health

BEST Investment  in 2022

Investing is all about informed decisions based on your market knowledge and insights from analytics.

You need to establish a long-term financial goal. It means that you need to figure out the reason why you are investing as in your child’s education, retirement or to multiply your funds; review your age and investment perspective, sort out what you are expecting out of your life. Once you answer these questions honestly to yourself, setting a long-term investment goal becomes easier.

Set long-term investment goals 

Once you have determined your investment goals, you may become over-confident or under-confident about your financial perspective. In both cases, you stand to lose. The mantra here is to strike a balance between over-confidence and under-confidence. You should just be confident regarding your decision towards your investment or SIP plan.

Find a balanced approach 

With a portfolio diversification approach, you can ensure peace of mind. Here’s how. When you distribute your money across mutual funds and asset classes, it lowers your risk of losses. Markets act in different ways in different places at different times. So, it brings a balance in your investment; if some of your investments are facing the downside, others may see the sunny side.

Diversify your portfolio 

Following market sentiments without analysing them is a big mistake committed by many individual investors. It is human psychology to follow the herd and do what others are doing, especially when you can see them tasting success dur to the choices they made. But by the time you try the same and invest, maybe it is too late. The chance of making the same credible profit has already been missed.

Abandon the herd mentality 

Market sentiments are influential in deciding the course of the market, but you should steer clear of emotions while investing in equities or even in SIP investments. You can keep your emotions at bay with the help of the following tips 

Market sentiments are influential in deciding the course of the market, but you should steer clear of emotions while investing in equities or even in SIP investments.

Your Money: Four tips to control your emotions when investing

Don't take the money if it means sacrificing your autonomy.

Ryan Holiday 

Money 

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