Opening our minds to limitless possibilities
Money Lessons from Ranthambore
I love getting clients to visualize their dreams, aspirations and life goals WITHOUT self-imposed limits or boundaries. The exercise opens up their minds to accomplish goals in ways they never thought were possible before!
Shifting from a fixed mindset to a growth mindset can transform our relationship with money dramatically. It moves us towards limitless beliefs and money habits - impetus for our dreams, aspirations, life goals and values.
Why am I sharing this? Read on..
I spent the last day of 2021 facilitating a Financial Wellbeing Workshop for school teachers working at two village schools called Uday Community Schools, on the fringes of the Ranthambore National Park. The schools, a brainchild of the Gramin Shiksha Kendra (GSK), are owned, managed and led by the local communities.
Ranthambore National Park is home to the Royal Bengal Tiger among other diverse wildlife. But many of the communities living in the core of the tiger reserve were displaced when the reserve was declared a national park. The Gramin Shiksha Kendra (GSK) has been working with these communities for over two decades to enhance their access to quality child-centric education. The Uday Community Schools are a testament to the amazing work the organization has been doing!
If you’re looking for trustworthy avenues to give, Gramin Shiksha Kendra is a place where your money will be put to work meaningfully. Click here to make a generous donation.
It was a cold wintery day, the last day of 2021 on the pristine sunny lawns of GSK. I was getting the school teachers to think more deeply about their financial present and future. The teachers, in their 30s and 40s, articulated their dreams and aspirations, framed their financial goals, created simple financial action plans, and brainstormed smart money habits and beliefs to give their plans a boost.
I found myself drawing parallels and at the same time, noticing stark differences between my typical urban client1 and my typical rural client2.
Both want to do their best by their families. Educate their children well. Send money to their parents. Make sure their spouses are financially secure.
Both want to afford that vehicle. The urban client wants a nice car. The rural client wants a nice bike.
Both want to afford that home.
Both want to travel. The urban client wants to travel the world. The rural client wants to take his3 family on a flight for the very first time.
Both want to retire comfortably. Both need help wrapping their heads around how much is enough to retire comfortably.
Both know insurance is important. Both want to know how insurance works.
Both have long-term goals. Both need reminding that inflation, emergencies and all-eggs-in-one-basket can sabotage your best laid long-term plans.
To manage and accomplish all of the above, both types of clients realize there are primarily four ways: 1) save and invest, 2) spend within your means, 3) insure risks to your life and health and 4) diversify.
At first glance, it looks plain and simple…then the sinking feeling that they still may not be able to accomplish it all. Because how far can you go with each of the four ways?
Which brings us to the fifth way.
The growth mindset way.
The top line.
The income.
What can you do to create additional sources of income? Start a business? Negotiate a higher pay? Learn a new skill? Invest innovatively?
Because as Robert Kiyosaki writes in his book Rich Dad, Poor Dad -
“The single most powerful asset we all have is our mind...”
My urban clients typically have an income of Rs.50,000 to Rs.2,00,000 per month
My rural clients, in this case, the village school teachers, have an income of Rs.5000 to Rs.12,000 per month
‘His’ because the school teachers were predominantly male.