Financial literacy Part I – The Thinking

This is an series of articles dedicated to literate oneself in personal finance.

Why to literate yourself in personal finance ?

Table of contents –

  • Introduction
  • Chapter #1 – Setting up Money Mind/Wealth Jar
  • Chapter #2 – It begins with Commitment
  • Chapter #3 – Think Rich to became rich





Hello folks,

  • I am running out of money at the end of each month.
  • I am scared about future responsibilities, problems.
  • I am unable to save/invest money for future.
  • I have dreams and how can achieve them without money.
  • I don’t know where my money goes.
  • I have EMI’s/CC bills to paid.
  • I want to buy XYZ thing.
  • I have kids and their education
  • and blah blah blah…

Does it sounds familiar with you ? if yes then let me help you.

I know from being average family background and having certain amount of income per month will not going to work if you dreamt big or want to play big game.



My Story –


I am an software engineer from Pune, India. Married and on way to become father of one child!

After working more than 5 years, now i am realising why money saving and investing is an vital part of our life. I didn’t saved any dice while when i was bachelor(like most of us do). With the time responsibilities keeps increasing and we feel the lack of money and then by we starts to realising  mistakes that we made when we were bachelor.

After being overwhelmed and stressed out myself about money, i started thinking about
– How can fix money problems ?
– How can i become rich ?

And then i started searching google for how to become rich and i landed on the term called financial literacy.

“Education is a powerful tool. It can open the world to you or stifle you with false filters. Choose your teachers wisely.” – Robert Kiyosaki


Financial literacy, for the sake of brevity, is an ability to understand money and how it works – including its management, investment, and expenditure.


Over the period of time i read bunch of articles, books to literate myself and now i am sharing this with you so that it would help you.

In this series of articles i am summarising those lessons.

Unfortunately our schools, colleges don’t teach personal finance and majority of parents learned these lesions wrongly.

So now its our responsibility to learn & understand what is right and fits for us.

I am big fan of Robert T. Kiyosaki and Abhishek kumar and i learnt personal finance from them and i learnt my session from them.

While reading this series you might feel obsessed or not agree with me so thats completely fine and better if you correct me!

Wealth is not limited rather it grows. It grows whenever man exerts energy.



The Thinking


This part of series we are focusing on why rich thinking is so important and setting up our mindset to achieve our goals.

There are 3 types of learning and those are –

  1. Learning from schools and colleges
  2. Learning from mistake of others
  3. Learning from the experiences and opportunities that life throws at us.



Chapter #1 – Setting up Money Mind/Wealth Jar


  • Understanding true importance of money, power and freedom that it provides in the hands of its possessor.
  • Money is extremely important in areas in which it works  and extremely unimportant in the areas in which is doesn’t – Identify and differentiate there areas.
  • Its not possible to live a really complete or successful life  unless one is rich.
  • You should never be satisfied with a little if you are capable of using and enjoying more.
  • Success in life is nothing but what you want to be and you can became what you want to be only by making use of things.
  • Wealth will make you free of financial pressure, it will give you freedom of choices as also allows you to take advantages of various opportunities life provides you.
  • To have more than what you have got today; you have to become more than what you are today.


“The key to happiness is not more money, Happiness is an art to be studied and practiced. More money will only make you more of what you already are.” – Earl Shoaff



Chapter #2 – It begins with Commitment


If you think lack of money is your problem and getting more money will solve your problem; then you are completely mistaken. – Most people, given more money, only gets into more debt.

  • Money is nothing but an amplifier, It amplifies your internal habits. – The solution is financial literacy.
  • Earning money is an art and keeping your earned money with yourself is a different art.
  • Identify difference between Wanting and Having. Wanting doesn’t necessarily leads to Having.
  • 3 levels of Wanting –
    • I want to become rich
    • I choose to be rich
    • I commit to being rich
  • The warrior’s way – I will be rich or i will die on the way but i will never stop.
  • Rich peoples are committed to being rich and thats why they are rich.
  • Most people fails not because of lack of desire, but because of lack of commitment.
  • Getting rich takes focus, courage, knowledge, expertise, 100% of your efforts, a never give up attitude and deep desire and commitment.


“Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative (and creation), there is one elementary truth the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, the providence moves too. A whole stream of events issues from the decision, raising in one’s favor all manner of unforeseen incidents, meetings and material assistance, which no man could have dreamt would have come his way. I learned a deep respect for one of Goethe’s couplets: “Whatever you can do or dream you can, begin it. Boldness has genius, power and magic in it!”

– W. H. Murray



Chapter #3 – Think Rich to became rich


“If you took all the money in the world and divide it equally among everybody, it would soon be back in the same pockets it was before.” – Its hard to keep something, which has not been obtained through improvement in your Money Mind.

“Give a million dollars to someone who doesn’t posses the attitude, the mindset of a rich person and that person will most likely to lose it, But take away all the wealth a truly rich person and in no time he or she will build a new fortune. Why ? It is because those who earn their millionaire status develop the skills, knowledge and experience to duplicate the process again and again” –  Jim Rohn

Differences between thinking of Rich people and Poor peoples –

#1 – 

Rich people believe “I create my own destiny.” 
Poor people believe “i can’t change much, Its already written.”

  • Accepting full responsibility is one of the highest form of human maturity – and one of the hardest. It’s the day you pass form childhood to adulthood.
  • It is much easier to change themselves than everyone else.
  • Justifying and giving excuses is nothing but an indirect way of blaming others.- By doing so again you are passing on the responsibility to someone else.
  • Either you can create million excuses or you can create million rupees, but you can not create both.



Universal law of attraction – Like attracts like.


  • Whatever you focus on, you attracts into your life and it expands
  • Focus on opportunities rather than problems, complaining/blamining
  • Every time you give excuses or complain you are missing the opportunity to improve yourself.


‘Expenditures rise to meet income.’ – C. Northcote Parkinson



Rich people focus on Opportunities.
Poor people focus on Obstacles.

  • Don’t give too much attention to obstacles, only focus on your goal.
  • Rich people see opportunities, Poor people see obstacles.
  • Rich people see potential growth, Poor people see potential loss.
  • Rich people focus on rewards, Poor people focus on risks.
  • To succeed financially you need to take actions; to do something, to invest in something or to start something.
  • The decision that we make at particular moment comes from out mindset, And that is why setting our Money Mind for success is so important.
  • Rich people always expect themselves to succeed, they have confidence in their abilities and strengths, they have confidence in their creativity and they believe that if anything goes wrong then they can find another way to succeed.
  • Faith in your abilities, strengths.
  • Rich people focus on what they want while poor people focus on what they don’t want.
  • Don’t suffer from diseases called “Paralysis by Analysis”
  • You should start your journey, make wrong turns, ask for the correct path during your journey, correct yourself along the way and then only you will be able yo reach your goal.
  • Don’t wait for all signals to turn green to switch on your car.
  • Opportunity doesn’t wait for you to get ready, neither does it allow you to finish certain tasks after which you can grab that opportunity.



Rich people are students throughout their life.
Poor people’s learning stops after formal education.

  • Kids are the best learners, They fall a lot in their process of learning to walk but since they see everyone around walking, they are very eager to walk and run and they ultimately learn to walk with their persistence.
  • Just do it and let see what happens.
  • When you believe that you know everything, you stop learning and you stop growing.
  • Remember if you keep doing what you have always done, you will keep getting what you’ve always got.
  • You need to learn skills and strategies to accelerate your income, to manage your money and to invest.
  • Stop doing what is not working, look for something new.
  • If they can do it, you can do it.
  • Rich people take advice from people who are richer than they are, but poor takes advice from their friends, relatives and unsolicited advisors, brokers and agents who are just as broke as they are.
  • Choose the best financial advisors by carrying out due diligence on them; like what is their past record, who are their present clients and what is their expertise.
  • Your financial advisors directly related to your chance to accumulate wealth.


DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation in writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.