10 common money mistakes to avoid 

Mistake 1:Not valuing your time and treating it like its free We dont know how much is our per hour cost.We dont know how much do we ACTUALLY spend, when we watch Netflix 2hrs/dayWe dont know how much should we charge for a project We dont understand how our time = money

Mistake 2:Spending your time on things that are easy to measure money-wise We will spend half a day travelling to one end of the city, to save Rs. 1000, because we know we will conclusively save that amountBut we won't spend 2 hours preparing for our salary negotiation!

Mistake 3:Taking too many loans We over-index on our future earnings.And spend more today, than we can afford today. Loans tie us down.They increase our burn rate.They make us risk-averse.They make us feel like we are stuck!

Mistake 4:Believing that our income is capped Our income is not capped. There is no upper limit to how much we can earn.Instead, it is our spending that is capped. We have to spend a bare minimum to live, to survive. Instead of reducing expenses, focus on increasing income

Mistake 5:Trying to time the market Market is too high. Let it fall.Market is low. Right time to buy. No one knows the highs or lows of a market. The best way to invest over a long term, is to invest regularly. Irrespective of the price at that time.

Mistake 6:Investing because of FOMO Everyone is investing in Bitcoin. I should too.Everyone is selling Bitcoin. I should too.Everyone is buying ITC. I should tooEveryone is selling ITC. I should too Everyone is NOT you!Invest on your beliefs and research and appetite.

Mistake 7:Renting your time and not owning any assets Everyone in a job isn't going to create supernormal wealth.Because we have to spend time working, to earn. Assets, on the other hand, make money, even when we sleep.Start a company. Own stocks. Create rental income.

Mistake 8:Investing late 20s is the time to have fun. Will start investing in the 30s.30s is the time to build a family and enjoy. Will start investing in the 40s. The right time to start investing was when you turned 18.The next best time is TODAY.

Mistake 9:Comparing your money to others Money, for most of us, is an outcome. Not an input. It is the result of the decisions we have made, not the reason for the decisions we made. Compare the decisions people made to get to their money.Comparing the outcome, won't help!

Mistake 10:Running after money Money gives you freedom. Freedom is a privilege.But the minute we run after money, we are not free anymore. Use money to earn your freedom.Don't give up your freedom to earn money.

Bonus:Not taking risks, when you can In our 20s, when we have little to lose. And even if we do lose, we have time to recover. Lesser so in our 30s/40sThat's why our parents love FDs.But we shouldn't. Take risks early on. And don't worry about the short term ups and downs.I wish money was a topic that our parents spoke about, or our schools/colleges did justice to. In the absence of it, we are left to learn from those who have made mistakes and realized what to do.Or make those same mistakes ourselves.

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Audio captures not just the thoughts but also our emotions at that moment. Which is super helpful, when we hear it again in the future.Bonus: Start the voice note with "I am recording this while I was doing..." Context helps.”

1.Record your thoughts through an audio recorder.

A time management technique that's proven to maximize productivity and attention. Break your day into 25 min chunks followed by a 5 min break (this 30 min unit is called Pomodoro). After about 4 pomodoros, take a longer break of 15-20mins.

2. Pomodoro Technique  

If you check your emails as and when they arrive, you will be sucked into them! Schedule your emails to hit your inbox only at scheduled times (I do it 4 times a day). Then use Pomodoro to go through them all in one go.

3.Set specific times to check your emails

Use your phone to set time limits on the app you tend to waste time on. Use a password to unlock and ask someone in your family to set that password (you shouldn't know it!) Similarly, use website blockers.

4.Set app usage limit

Create a WA group with someone. Delete that person. Pin that group to the top. Now you have a WA group with just yourself. Use it to record your pics, voice notes, typed notes. Basically anything! Super hack for quick recording and retrieval.

5. Create a self- WhatsApp group

You can schedule emails for a later time. Use those to be reminded of things you remember right now, but cannot pick up right now. Be as detailed as possible. Attach images, voice notes, links etc.

6. Send emails to yourself in the future

Build the habit of using a calendar. And then put EVERYTHING on the calendar. Not just meetings and work tasks. Birthdays. Bills to be paid. Reminders. Family events. Daily routine. It will add structure to what might look like a random day!

7.Put all tasks on your calenda

Do not place them on the home screen. Put them in some random folder, called something random. In addition to time limits, the visual hurdle to get to your app will make you spend a LOT less time.

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How to increase productivity.

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