04 – How many Credit cards do you have?

A CEO Teacher 04

How do you define a Credit Cards?

We use Credit Card, with the money we don’t have, to buy things we don’t need, to impress people we don’t like.

How amusing! Continuing from our previous conversation about money, let us look at what would be do with the money we seek.

Do you remember the 1st KBC Winner? Harshvardhan Nawate, was an instant celebrity. The person with the supposed highest IQ score in the country. The toast of the nation. What happened to him and his one crore? Do you know of his new company or that he traded stocks in millions!

He lived in the world of Instant Gratification. And as quickly he rose to fame, so was his fall. Perhaps, he had bad financial advisors. Do you know that lottery winners are no more happier than they were before they won the millions. This is what we learn from the 1st KBC Winner – Instant Gratification is well, a flash in the pan!


What is the difference between a WANT and NEED? God gives us what we need, not what we want.

Let me share an example – my daughter was crying for the new toy – those Frozen dolls (Elsa & Anna plus Olaf, the snowman). This is while we were shopping – so I explained to her to wait and I will give her a whole set, instead of just two dolls. To my surprise, she agreed.

Then next week, she fell sick – now she could not go out and play and instead of using the mobile all the time, these doll toys were a perfect gift for her. First time, she just ‘WANTED’. The second time around, she ‘NEEDED’ them.

Marshmallow Test

There was a very popular test done by Stanford University on Pre-Schoolers titled the Marshmallow Test. Basically the test was having a kids sit alone in a room, with a marshmallow, which she could eat instantly or wait a while and be given one more.

The study revealed that those kids, who resisted the urge were more successful over the years in careers, business, and relationships. So what is your urge with the money?


Three Lessons

 Plan you finances

  • pay a part to those more needful [gratitude]
  • save for the rainy day [grasshopper]
  • plan you Amazon sales well [greed]


03 – How to increase your salary?

A CEO Teacher

What is more difficult — Writing a cheque or receiving one? Of course, writing one.  And it become even more difficult when we ought to pay the electricity bill or the most difficult one – the school bus fees!

Money – a vital need

Money is an important parameter in everyone’s life. Money is necessary not only a luxury. We earn, spend, save, demand. Demand? Is it the salary time? How much can be expect the hike? What would the bonus be? There are innumerable questions that we seeks as salary is expected around the year end performance appraisal time. In-fact one institution I am aware of, has its annual performance appraisal in August, which is the beginning of the year. How mean, I thought to myself. This must be to ensure that the teachers can’t leave or seek another job, as the academic year has begun!

So, what is the best time to ask a pay hike? A CEO replied, best time is DON’T ASK. Well, we won’t take that for an answer. We will think of a strategy. I honestly agree that asking for a pay hike is an art. If we demand too soon, it might be counter-productive. It’s like overloading a Washing Machine. We all are overloaded, burdened by our own expectations. So remember the three P of money:

  • Pocket
  • Position
  • Power

3 P Questions

Ask yourself, what is it you are seeking. Are you in a ‘position’ to seek the hike? Do the one you seek have the ‘power’ to grant your request? Does the current ‘pocket’ or ‘purse’ has such budgets to approve your salary? Equipped with these answers, now arm yourself with some key pointers. When a salary is given to you, do not negotiate. Accept it at the moment. Also plan your hike like a shareholder. Think of the current situation of the institution and the timing of your ask. Like JKF said, “Don’t ask what your country did you for, ask what you did for your country.” List down your achievements over the past year and then move ahead confidently for the ask.

And yes, if you the desired hike, count me in for the party!

Three Lessons

  • Acknowledge the salary [never negotiate – accept and thank]
  • Think like a shareholder [you don’t ask Google when buying the share – you think long term]
  • Make a to do list [what have you achieved over the past year; be clear]