Are we truly Independent?

As our nation celebrates its 66th independence day on 15th August, it is definitely time to rejoice, celebrate and look to the future, while we continue to learn from the past. We have come a long way, though there are miles to go before we sleep. Exactly 8 years ago, during one such celebration, a strange series of questions struck my mind - What is so great about freedom?

Why an independence day happens to be the most savored day for us, and for that matter, for any nation? What did we actually achieve by getting independent? Yes, we got rid of the British rule, but what was wrong with the British rule? Are we happier today than what we would have been under the British rule? All these questions were going through my mind and i was looking for answers.

As i was pondering more on the questions, i realized certain key attributes that independence brings to a nation:

We decide our own destiny

It is not a question of whether we fare better today or not, the point is that we should be able to decide our own destiny. That is what independence brings us. We should be able to decide what is right or wrong for us, we should be able to take our own decisions, do our own mistakes, learn from them and then take our nation forward in the direction that "we" feel is right. This was one strong reason for being an independent nation.

Slavery was a beautiful comfort zone

If any country has been slave for more than 200 years, I realized that it was such a beautiful comfort zone for most of the nation's population, till the shackles were broken by our leaders and freedom fighters starting from Rani Lakshmibai to Mahatma Gandhi to Chandrasekhar Azad to Bhagat Singh to millions of other known and unknown names. We were required to be awakened and shaken out of our comfort zones. If that would not have happened, we would have still been surviving as a "slave nation" comfortable with whatever we got at that point, because we would have never seen the other side of the picture.

Fight was on because everyone wanted to be a part of the solution

When Rani Lakshmibai fought her first battle, do you think she was not aware that she stands no chance of winning any battle against the mighty Britishers? She knew it. Then why was she trying to fight? Was it suicidal? She knew she cannot solve this problem (of slavery), and she was never fighting for that end result. She was fighting because her inner voice told her to be a part of the solution rather than to stay a part of the problem. She was ready to die being a part of the solution rather than live a luxurious and comfortable life as a queen, being a part of the problem.

Most of us never realized we were slaves

At that time, when freedom struggle was beginning to erupt, life was going on fine for so many of us Indians. We never realized that we were slaves. We were working, earning money, feeding our families. Why the hell should we risk our family's future and fight for freedom? There were no major issues with what we were doing. It is only after some enlightened souls showed us the reality that the nation woke up and realized that we were living as slaves and that slavery was no more acceptable.

I was pondering over the above four points and i had a strange co-relation of a nation's independence with our own personal independence. So, i thought, though our nation is now independent, are we , as individuals, truly independent? 

To find the answer to this question, i asked a few questions to myself, considering the same 4 points above. I earnestly recommend all of you to answer these 4 questions for yourself and see whether you are truly independent or not?

(1) Am I able to decide my own destiny?Or is it driven by the options given to me by someone else? What if i love to help my society and do that full time, or for that matter pursue any of my long cherished passions? Am I "free" to do that? or am I bound to do something because money is needed to feed my family?
Am I truly independent as a person?

(2) Am I in a comfort zone?
Salary is coming in, family is getting fed, this has been happening for the last few generations and therefore it so comfortable being here in this zone. Is there a zone outside this, which is much more beautiful and rewarding? Am I open to new ways of thinking, new ways of living life? And for that, 
Am I ready to push myself out of the comfort zone and fight for my personal freedom?

(3) Can i break free from this rut of earning money?
And do something beautifully value adding in life? I may not know whether I can finally achieve it or not, but can I at least attempt to be a part of the solution even if i cannot believe that i can solve the problem? 
Can I at least start working on a plan which can take me towards freedom?

4) Do I even realize that I am actually a slave?
A slave who is trading off my time and getting paid for that? If I stop spending time, I stop getting paid. Period. Thats slavery. Time is my most important asset and I am compromising more and more of it to earn money. Can I break this cycle of rat race? Can I  earn time? Because it is time that I need to build relationships - with myself, with my family, with my society and this world.

I was convinced that "I WAS STILL A SLAVE WHO WAS SEEKING FREEDOM".

That is when i started on my journey towards financial freedom, and today, i feel blessed to be working with such great freedom seekers from all walks of life, from all parts of the globe, who have also realized that they need freedom.

I am helping them get on the other side of the fence and see how beautiful this world can be...

• a world where you have enough time and money to decide what you want to do with your day, your week, your month & your life.
• a world where Mondays are no more scary. They are as beautiful as any other day of the week.
• a world where you are the master of your time - the most precious commodity in the universe.
• a world where you can relive your childhood days.
• a world where happiness and peace is more important than the next client meeting.
• a world where you can start pursuing your passion, your dreams and what you truly love in life.
• a world where you are TRULY INDEPENDENT.

Friends, time is limited for everyone in life. No one can earn a second more than 24 hours, and therefore, it is very precious. If you cannot decide what you do with your every minute, every hour and every day of life, and someone else is deciding that for you...it is high time you realize that independence is still far away. 

It is not impossible to achieve independence but you must make efforts to move forward towards your own financial independence.

Decide what your true independence day is going to be....... all the best !!

Cheers

Manoj Arora

Official Website | My Mission

Life elevating books : 

From the Rat Race to Financial Freedom | Happiness Unlimited | Dream On

Difference between Sum-Assured and Guaranteed-Returns in Life Insurance Policies

'Sum assured' and 'Guaranteed Returns' are the two commonly used terms when it comes to life insurance plans. Although both the terms are linked with monetary benefits of a policy, there is a significant difference between the two. Understanding the difference can help us make the right choice of the insurance policy for ourselves and our family members...Read on.

Opening Multiple PPF Accounts in India

There is widespread confusion regarding how many PPF accounts can be opened by an individual on his / her name or in the name of their minor children? How much money can be invested in these accounts in one financial year? How much tax can be saved by opening multiple accounts?..Read on..

What is a Credit Score

A Credit Score [including Credit Information Report-CIR], is your detailed credit history and acts as a full evidence of your credit worthiness.


What is Credit Bureau?
Credit Information Bureau (India) Ltd; CIBIL is India’s first Credit Information Company, also commonly referred as a Credit Bureau. They collect and maintain records of individuals and non-individuals (commercial entities) payments pertaining to loans and credit cards. These records are submitted to them by various banks and other lenders on a monthly basis. Using this information a Credit Information Report (CIR) and Credit Score is developed, enabling lenders to evaluate and approve loan applications. A Credit Bureau is licensed by the RBI 
 

What is a Credit Score?

Your credit score is a three-digit number generated by a mathematical algorithm using information in your credit report. It's designed to predict risk, specifically, the likelihood that you will become seriously delinquent on your credit obligations in the 24 months after scoring.


Why is your Credit Score important?
Your Credit Score plays a critical role in any loan application process. After an applicant fills out the application form and hands it over to the lender, the lender first checks the credit score and credit report of the applicant. If the credit score is low, the lender may not even consider the application further and reject it at that point. If the credit score is high, the lender will then look into the application and consider other details to determine if the applicant is credit-worthy. 
The credit score works as a first impression for the lender, the higher the score, the better are your chances of the loan being reviewed and approved. The decision to lend is solely dependent on the lender and CIBIL does not in any manner decide if the loan/credit card should be sanctioned or not.

How can you maintain a good Credit Score?
You can improve your Credit Score by maintaining a good credit history. This will be viewed favorably by lenders and it can be done with 6 simple rules:
1) Always pay your dues on time. Late payments are viewed negatively by lenders
2) Keep your credit balances low, Always prudent to not use too much credit, control your utilization
3) Maintain a healthy mix of credit. It is better to have a healthy mix of secured (such as home loan, auto loan) and unsecured loans (such as personal loan, credit cards). Too many unsecured loans may be viewed negatively.
4) Apply for new credit in moderation. You don’t want to seem Credit Hungry; apply for new credit cautiously
5) Monitor your co-signed, guaranteed and joint accounts monthly. In co-signed, guaranteed or jointly held accounts, you are held equally liable for missed payments. Your joint holder’s (or the guaranteed individual) negligence could affect your ability to access credit when you need it
6) Review you credit history frequently throughout the year. Purchase your CIR from time to time (may be once in 2 years or so, depending upon your credit usage) to avoid unpleasant surprises in the form of a rejected loan application

Can CIBIL update your Credit records?
CIBIL cannot delete or change records reflecting your CIR on its own; they simply collect records of individuals provided to them by their members (Banks and financial institutions). There are no ‘good’ and ‘bad’ credit or defaulters lists either. So, if you defaulted earlier and now want to make amends, you will have to approach the lending institution, pay your dues, and ask them to send an updated record to the Credit Bureau

What does it mean when your Score is "NA" or "NH"?
A Score of “NA” or “NH” is not a bad thing at all. These mean one of the below:

a) You do not have a credit history or you do not have enough of a credit history to be scored, i.e. you are new to the credit system

b) You do not have any credit activity in the last couple of years

c) You have all add-on credit cards and have no credit exposure

    It is important to note that while these Scores are not viewed negatively by a lender, some lenders’ credit policy prevents them from providing loans to an applicant with Scores of “NA” or “NH” (applicants with no credit track record). Hence, you may have better chances applying for a loan elsewhere.

What does it mean by an Index of 1-5?
This means that the individual has a credit history which is less than 6 months, hence a risk Index is returned. Higher the index, lower the risk

What is a good Credit Score?
Based on your credit history, CIBIL gives you a score between 300 and 900. The higher your score, the greater are your chances of loan approval. all banks check your Credit Score before approving your loan application? 
80% OF THE LOANS APPROVED ARE FOR INDIVIDUALS WITH A SCORE GREATER THAN 750.

How can i get my Credit Score?
You can apply for your Credit Score online at http://www.cibil.com/.
You will be asked to fill an Online Credit Score Request Form, pay the application fees (approx Rs. 470/-) and then you can access your Credit Score after authenticating yourself by answering a series of simple questions.

As Credit History becomes more and more important in India, and as loans become an integral part of our lives, it is a good practice to be aware of your current credit score and continuously strive to maintain a good score.

Cheers

Manoj Arora

Lead a Financially Free Life !!

My Life's Mission | RR2FF Portal | Facebook | Twitter | Blog

RR2FF - The book : Breaking Records to break people FREE

With all humility, i write this post....

This post is not about the records that this book has been breaking...

This post is also not to say that i have done a great job. 

This post is to let you know that there is a hidden desire for "freedom" in each one of us, and it seems to be slowly coming out in the open. While some are still "thinking", a few of you are coming out of your shell and seeking freedom of time and money in your lives....Read on...

Book Popularity Rank

The RR2FF Book stormed into "Top 20 Finance Books in India" last week. Currently, it is ranked # 13 and touched its best ever rating at # 10 yesterday. 

This ranking is by popularity and is out of 2,238 available books on Finance. 

This is, by no means, a mean achievement, for the fact that this Top 20 includes some of the international bestseller titles like "Think and Grow Rich" by Napoleon Hill

Here is the link:
http://www.flipkart.com/books/fiction-non-fiction/business-investing-and-management/finance/pr?p%5B0%5D=sort%3Dfeatured&sid=bks%2Cfnf%2C22j%2Cae6

Freedom Blog Hits break all records

From a decent average of 150 - 200 hits per day just 3 months back, the Freedom blog has been showing an upward trend for the last couple of months and yesterday, the blog touched 1,000+ hits on a single day for the first time ever. Subscribe to the blog by email and make sure you do not miss out on weekly posts to sharpen your financial saw.

Audios are creating their own space

The recent introduction of downloadable audios on the Freedom Portal, where i speak on various aspects of Financial Freedom, is creating its own space with the audience. Not only that, people are utilizing their commuting time more effectively. I am getting emails and calls from around the globe seeking freedom after having heard me making a point in the audio, which struck a chord with them. 

Regular inflow of Enrolled Freedom Seekers

Since the book launch, we have been adding 2-3 freedom seekers every day to our Freedom Portal. These are the people who are making an attempt to break the shackles of this slavery, waking up and seeking freedom by taking professional advise and consultation from me, based on my experience in this journey.

And, remember that there are no charges, no fees, no constraints to do this. Some people even ask me that why am i doing this for free? So, here is what you ought to know. I am not doing this for no reason. 

By helping many of you break free, i am moving forward in the mission of my life.

Freedom is precious

From General Managers of Fortune 500 companies, to Directors and CEOs from across the globe, to students, to trainees, and people from all walks of life - each one of them have their own story to share. There is an endless list of people who seek freedom, which makes me cement my faith in the fact that "freedom" is precious, much more precious than money itself. Because "Freedom" is time - your most important asset in life.

I am in the process of freeing up hundreds of financial slaves. I could free thousands more, only if they knew they were slaves.

So, c'mon, share your story, get started on your financial freedom journey - i can tell you that this is likely to turn out to be the most crucial and the most rewarding journey of your life.

Write to me at help@ratrace2freedom.com, and i will be happy to help.

Cheers

Manoj Arora

Lead a Financially Free Life !!

My Life's Mission | RR2FF Portal | Facebook | Twitter | Blog

Dare to Dream (Downloadable Audio)

Continuing with my commitment to provide high quality downloadable audios, the second one in this series is about the power within you, to dream, to achieve anything that you can think of...that you can dream of, that you can believe in...

Dreams are the fuel that sustain you through tough times. Dreams are the converters which can convert the negativity around you to a positive empowering energy for you. Dreams are the only differentiators which separate hard workers from successful hard workers.

So go on, listen to this audio (Audio # RR2FF_002_Dare to Dream), and get drenched in this 18 min saga of dreams and their importance in life, and how they can change your life.

To have a look at all available audios and download other audios, click here.

Have fun

Cheers

Manoj Arora

Lead a Financially Free Life !!

My Life's Mission | RR2FF Portal | Facebook | Twitter | Blog

Amazon, Flipkart, URead run out of stock !! , Amazing Reviews for RR2FF Book

The book (RR2FF) is selling like hot cakes... amazing feedback....hundreds of registered users...so many that i am counseling.......and the sales is just a number.

Talking about numbers, Amazon, Flipkart, URead have run out of stock !! It may not be good news for the readers who want to buy the book but it is a wonderful one for the author, when a book runs out of stock at the largest retailer in the world (Amazon) and also the largest retailer (arguably) in India (Flipkart) !! 

While i am working with the publisher to get this sorted out asap (Flipkart and URead is supposed to be supplied more books by the time you get to read this post) , here is the snapshot of the Amazon site that i captured today morning 

I have been hearing some rave review comments from all corners of the globe. The book (along with my own one-one coaching to freedom seekers) is making a difference to the life of people around me, and this is the ultimate satisfaction that one can get. 

Making a positive impact on someone's life = awesome feeling !!

Off late, Flipkart has an average review rating of 4.7 out of 5 ( 7 out of 10 raters have given it 5 stars) 

There are 50+ comments lying on my Freedom Portal which the readers have left after reading the book. 

The Freedom blog touched 750 hits on a single day (yesterday) for the first time ever (up from 150 hits per day before the book launch) and it has been just 2.5 months into the launch.

The word of mouth is catching up. 

Make sure you do not miss out on this opportunity to plan your financial life.

Cheers

Manoj Arora

Lead a Financially Free Life !!

My Life's Mission | RR2FF Portal | Facebook | Twitter | Blog

Clubbing of Income(spouse, children, parents) in India under Income Tax Act

Most savings instruments allow investment in the name of spouse, children or parents, but with some restrictions. It is common to open a fixed deposit or buy life insurance in the name of spouse or minor children. One can even open a Public Provident Fund (PPF) account or buy stocks in the name of spouse or children. But, beware of the clubbing of income clause...Read on...

What is Form 26AS

What is Form 26AS?
It is a form wherein all tax related (TDS, TCS, Refund etc..) information in relation to a PAN is published by the government of India. Remember that all information is mapped via the unique PAN Number of the individual / HUF or the organization. This is one sure shot way to know how much of your tax has been received by the government and is consolidated from multiple sources like your salary / pension / interest income etc..

Utilize your commuting time : First downloadable Audio File from RR2FF

Great successful leaders have an enormous respect for time. They have an uncanny sense of productively utilizing every minute in hand. If we are looking for success in our own areas of life, this is one area where most of us are very likely to have some scope of improvement. One aspect of life which is grossly underutilized is the commuting time to your office and back home. It could also be waiting time in your car while you wait for someone to come along.

So, i thought to start offering you some useful audio downloadable mp3 files on my Freedom Portal. You can download them to your favorite MP3 player or iPod or mobile phone and then play them along while you drive. This will help you to understand more about Financial Freedom concepts, understand about wealth, money and the key principles that enable wealth making.

This is the first audio upload !!

I plan to add 1-2 such uploads every month. You can find the file on the Freedom Portal at the below shown location:

This first one (AUD_0001) is an audio upload of one of the recent seminars i had with a group of 70 corporate professionals. This 55 minute audio file involving interactive conversation with these professionals would cover the following:

1. Is Wealth Important?

2. Difference between Rich and Wealthy

3. Who becomes Wealthy?

4. What is Financial Freedom?

5. Your Dreams are more important than the "how" part.

6. Wealth creation principles

7. 8 Steps to Financial Freedom

Get set, download it from the Freedom portal and get set to learn more. 

While others wine away their time in the traffic chaos and get frustrated about it, you are moving a step closer to wealth and financial freedom... a journey that would pay you rich dividends once you get started.

Happy driving !!

Cheers

Manoj Arora

Lead a Financially Free Life !!

RR2FF Portal | Facebook | Twitter | Blog