The Science of Scarcity-A behavioral economist’s fresh perspectives on poverty

By Darpan Sachdeva
Via CARA FEINBERG,Harvard Magazine

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TOWARD THE END of World War II, while thousands of Europeans were dying of hunger, 36 men at the University of Minnesota volunteered for a study that would send them to the brink of starvation. Allied troops advancing into German-occupied territories with supplies and food were encountering droves of skeletal people they had no idea how to safely renourish, and researchers at the university had designed a study they hoped might reveal the best methods of doing so. But first, their volunteers had to agree to starve.

The physical toll on these men was alarming: their metabolism slowed by 40 percent; sitting on atrophied muscles became painful; though their limbs were skeletal, their fluid-filled bellies looked curiously stout. But researchers also observed disturbing mental effects they hadn’t expected: obsessions about cookbooks and recipes developed; men with no previous interest in food thought—and talked—about nothing else. Overwhelming, uncontrollable thoughts had taken over, and as one participant later recalled, “Food became the one central and only thing really in one’s life.” There was no room left for anything else.

Though these odd behaviors were just a footnote in the original Minnesota study, to professor of economics Sendhil Mullainathan, who works on contemporary issues of poverty, they were among the most intriguing findings. Nearly 70 years after publication, that “footnote” showed something remarkable: scarcity had stolen more than flesh and muscle. It had captured the starving men’s minds.

Mullainathan is not a psychologist, but he has long been fascinated by how the mind works. As a behavioral economist, he looks at how people’s mental states and social and physical environments affect their economic actions. Research like the Minnesota study raised important questions: What happens to our minds—and our decisions—when we feel we have too little of something? Why, in the face of scarcity, do people so often make seemingly irrational, even counter-productive decisions? And if this is true in large populations, why do so few policies and programs take it into account?

In 2008, Mullainathan joined Eldar Shafir, Tod professor of psychology and public affairs at Princeton, to write a book exploring these questions. Scarcity: Why Having Too Little Means So Much (2013) presented years of findings from the fields of psychology and economics, as well as new empirical research of their own. Based on their analysis of the data, they sought to show that, just as food had possessed the minds of the starving volunteers in Minnesota, scarcity steals mental capacity wherever it occurs—from the hungry, to the lonely, to the time-strapped, to the poor.

That’s a phenomenon well-documented by psychologists: if the mind is focused on one thing, other abilities and skills—attention, self-control, and long-term planning—often suffer. Like a computer running multiple programs, Mullainathan and Shafir explain, our mental processors begin to slow down. We don’t lose any inherent capacities, just the ability to access the full complement ordinarily available for use.

But what’s most striking—and in some circles, controversial—about their work is not what they reveal about the effects of scarcity. It’s their assertion that scarcity affects anyone in its grip. Their argument: qualities often considered part of someone’s basic character—impulsive behavior, poor performance in school, poor financial decisions—may in fact be the products of a pervasive feeling of scarcity. And when that feeling is constant, as it is for people mired in poverty, it captures and compromises the mind.

This is one of scarcity’s most insidious effects, they argue: creating mindsets that rarely consider long-term best interests. “To put it bluntly,” says Mullainathan, “if I made you poor tomorrow, you’d probably start behaving in many of the same ways we associate with poor people.” And just like many poor people, he adds, you’d likely get stuck in the scarcity trap.

Poverty Taxes the Mind

MULLAINATHAN IS THE FIRST to admit he’s no stranger to the scarcity cycle—particularly when it comes to time. A self-confessed over-committer with endless energy for exploring new passions, he is “quite familiar” with tardiness and missed deadlines. Though he’s no slouch at juggling tasks—at age 42, he’s a tenured professor, a MacArthur Fellowship recipient, and a rising star in behavioral economics—things are still always piling up, he says during an interview, pointing to actual piles of papers around his office desk.

No one ever has enough time—making it an excellent way to understand how scarcity works, he explains. A time crunch can be useful; deadlines often increase motivation and concentration. But there are prices to pay for that amplified focus: anything that falls outside the scope of that time-limited task gets slighted, ignored, or put off to a later date. While this isn’t breaking news, for Mullainathan, anecdotes about time and its limits are a trusted Trojan Horse of sorts: a way to get into the minds of readers and audiences at lectures who may never have experienced more extreme types of scarcity. “The cycle of poverty generally gets talked about as a problem otherpeople face,” he says. “Our hope is to get people to understand how easy it is to get caught in it, even if they’ve never had the experience.”

Though he spent much of his early life in “decently comfortable” economic circumstances, Mullainathan has seen poverty first-hand, and it seared itself deep in his psyche. Born in a small South Indian sugarcane-farming village, he moved to Los Angeles at age seven with his family so his father could study, and later work in, aerospace engineering. But, as he recalls it, in the 1980s, when new laws mandated heightened security clearances in departments that had not previously required them, noncitizens like his father were suddenly out of a job with no chance of finding another one in the industry.

“This was the first time I felt real economic insecurity,” Mullainathan remembers. It was also the first time he saw scarcity’s effects in action. The job loss “in some ways liberated him,” he says of his father. Suddenly without a roadmap for the first time, Mullainathan’s parents bought a video store, which, through creative strategies—like developing a computer program they sold to other stores—became in time a successful endeavor. But those initial years were also packed with tensions and insecurity that set the family on edge. “Overnight,” he says, “I saw my parents change”: suddenly, they were much more stressed out and short-tempered, as if part of their personalities was different.

Years later, as a behavioral economist, Mullainathan saw this phenomenon at work in impoverished people around the world. “The evidence is everywhere,” he says. “We just had to find ways to gather it scientifically.” But like any science in the making—as Mullainathan and Shafir describe work like theirs—the path had to be blazed. Early on, for instance, as the authors recount in the introduction to their book, “When we told an economist colleague that we were studying scarcity, he remarked, ‘There is already a science of scarcity…. It’s called economics.’”

The colleague, of course, was right, Mullainathan concedes; economics is the study of how people manage physical scarcity. But even though actual scarcity is ubiquitous—there are always limits to time, food, and money—the feeling of scarcity is not, he explains. This overpowering mindset was what he and Shafir were interested in studying, and it had effects, they argued, that could be quantified and explored empirically.

In 2010, the authors and their colleagues set out to do that—setting up scientific trials in what Mullainathan jokingly calls “the best lab in the world”: a shopping mall in New Jersey. The group hoped to show in an experiment that poverty imposed a kind of “bandwidth tax” that impaired people’s ability to perform. “To put it crudely,” he explains, “poverty—no matter who you are—can make you dumber.”

To prove it, they planned to administer Raven’s Progressive Matrices tests (essentially IQ tests that measure skills without requiring experience or expertise) to their subjects. Just before taking the test, subjects were asked to consider a hypothetical scenario:

Imagine you’ve got car trouble and repairs cost $300. Your auto insurance will cover half the cost. You need to decide whether to go ahead and get the car fixed,or take a chance and hope that it lasts for a while longer. How would you make this decision? Financially, would it be easy or hard?

Using self-reported household income, the researchers split the subjects into groups of “rich” and “poor.” When they tallied their scores on the Raven’s Matrices, there was no statistically significant difference in the groups’ performance.

But in a second version of the test, researchers raised the price tag for the repairs to $3,000. Although rich people’s test scores showed no significant difference, the poor people’s scores dropped the equivalent of about 14 IQ points: the difference between the categories of “superior” and “average” intelligence—or more pointedly, from “average” to “borderline deficient.” That’s a greater deficit than subjects in sleep studies typically show after staying awake for 24 hours, Mullainathan and Shafir highlight. “Simply raising monetary concerns for the poor,” they explain, “erodes cognitive performance even more than being seriously sleep deprived.”

They attribute this result to the maelstrom of problems poor people must suddenly confront in the face of a large unexpected expense: how will I pay the rent, buy food, take care of my kids? This round of mental juggling depletes the amount of mental bandwidth available for everything else. Such problems simply don’t arise for the rich.

To rule out other factors, the researchers posed nonfinancial questions with small and large numbers; they even tried versions where they paid people for correct answers to questions. In each case, there was no difference in performance.

But the real test lay in the real world, Mullainathan continues. If just thinking about scarcity preoccupied subjects, what effect would real scarcity have?

The answer came from fieldwork he and his colleagues were already conducting in India. Sugarcane farmers, they discovered, get their income in one lump sum at harvest time, just once or twice a year. That meant farmers were poor during one part of the year, and flush with cash during another. Because harvests took place at different times for different farmers, researchers could rule out seasonal weather, events, and their accompanying obligations as bandwidth-usurping factors. And when the researchers conducted a study there similar to the New Jersey mall experiment, the results mirrored their original findings: the Indian farmers performed worse on Raven’s Matrices tests before their harvest, and better after they’d been paid.

The conclusion was clear, Mullainathan explains: poverty itself taxes the mind. And in the case of the Indian farmers, he adds, the data were even more convincing: unlike the New Jersey “lab” study, where subjects were compared to other people, the farmers were compared to themselves. The only variables that had changed were their financial circumstances.



Scarcity Begets Scarcity

DURING THE LAST HALF-CENTURY, the effects of stress and distraction on attention and self-control have been well explored by social scientists: psychologists like Roy Baumeister of Florida State University (formerly of Case Western Reserve University) have done extensive work on willpower and mental depletion, for example, showing that people who had forced themselves to eat radishes instead of tempting chocolates quit working on unsolvable puzzles sooner than those who had not. At Stanford, another study on decisionmaking found that subjects asked to memorize long strings of numbers had a harder time choosing healthy snacks over sweets than subjects asked to remember just two or three digits.

It’s a phenomenon scientists can see even in the chemistry of the brain: during periods of stress and tough self-control tasks, glucose levels plummet in the frontal cortex (the region associated with attention, planning, and motivation). Low blood sugar can deplete physical capacities; a struggling mind can create similar chemistry in the brain, and trigger the same debilitating results.

But despite these advances in psychology and neuroscience, the idea that behavioral findings could beget insight into economic decisions is relatively new. For years, neoclassical economics maintained that people were rational, selfish actors who consistently made decisions in their own best interests. But in 1979, a breakthrough paper on decisionmaking by Princeton psychologist Daniel Kahneman, LL.D. ’04, and Amos Tversky of Stanford, began to chip away at that idea. Their study asserted that the way choices are presented has as much effect on decisions as the actual value of the things people choose. In the following decades, their paper became one of the most widely cited studies in economics; 23 years later, after Tversky’s death, Kahneman won a Nobel Prize.

Today, behavioral economics is a mainstream endeavor (see “The Marketplace of Perceptions,”March-April 2006, page 50), and to Kahneman, work like Mullainathan and Shafir’s represents the field’s next logical steps. “Clearly there is a psychology of scarcity,” Kahneman said in an interview, “and this idea that scarcity itself produces its own decisions is a new—and very interesting—one.” The pair’s work inverts the long-held thinking that the poor are poor because they make bad decisions, he added. “Instead, people make bad decisions because they are poor.”

And, as Mullainathan explains, those bad decisions abound. Though he doesn’t place all of the problems that poor people face on scarcity’s shoulders, he believes scarcity can explain a mentality that people in its grip face. “We’re not just talking about shorter patience or less willpower,” he says. In the poor, “We’re often talking about short-term financial fixes that can have disastrous long-term effects.”

Take payday loans, for instance: high-interest loans that provide cash on demand, to be paid back when the borrower’s paycheck arrives. According to Mullainathan and Shafir, in 2006, there were more than 23,000 payday lender branches in the United States— more than all the McDonald’s (12,000) and Starbucks (nearly 9,000) locations combined. It’s a popular way to get money today, particularly for those without bank accounts. But for people without reliable incomes, debts must often roll over into the following month, incurring exorbitant fees. “This type of high-risk borrowing seems ridiculous,” Mullainathan says, but “we wanted to prove that thinking like this doesn’t come from a lack of financial understanding or foolishness—it comes from putting out fires.”

In 2011, in collaboration with Anuj Shah, now assistant professor of behavioral science at the University of Chicago Booth School of Business (then a graduate student at Princeton), they devised a study that they hoped would prove their point, inducing that same high-risk borrowing behavior in Princeton undergraduates by having them play a version of the American TV game show Family Feud.

In the show, contestants are asked to name things that belong to categories—for instance, “Things you might find in a professor’s office.” Unlike regular trivia games that have right and wrong answers, there are no right responses in Family Feud, just popular ones (the list of answers is gathered from a survey of 100 people prior to the show). Because contestants must think through an array of options before answering, time pressure limits the number of paths they can explore before hazarding a guess, so scarcity’s effects are in full bloom.

At Princeton, contestants were randomly split into “rich” and “poor” groups—the rich having more time to guess than the poor. All were given the option to borrow time: each additional second borrowed would cost them two seconds of “interest” deducted from their total time.

“The results mimicked everything we see in the real world,” Mullainathan reports. At first, the poor performed better than the rich did; scarcity made them focus more intently on the task. But when, in the next round, the subjects were allowed to roll over their loans and “repay” in subsequent rounds (thus making future rounds shorter), things quickly fell apart for the poor contestants. Early borrowing created a vicious circle for the poor; pressed for time, they needed to borrow more seconds, and borrowing more made them more pressed for time. By the final rounds, most of their time went to paying back loans, and the poor lost rounds that the rich won handily.

These students were randomly assigned to “poverty,” Mullainathan explains, so there could be nothing substantially different between them and those fellow students labeled “rich.” “The study shows the intimate link between success and failure under scarcity,” he and Shafir write inScarcity. And scarcity, no matter whom it menaces, inevitably leads to more scarcity.

Escaping the Scarcity Trap

SO HOW CAN PEOPLE ESCAPE the scarcity trap? And why does such research matter? The answer, says Mullainathan, isn’t necessarily a shift in policy, but a shift in policymakers’ perspective.

Typically, he explains, when the poor remain stuck in the grip of poverty, policymakers tend to ask what’s wrong with them, pointing to a lack of personal motivation or ability. Rarely, he continues, do we as policymakers ask, “What is it about this situation that is enabling this failure?”

This is the question we should be asking, says Mullainathan—a point he and Shafir make quite memorably in their book by telling a story about a spate of plane crashes that occurred during World War II. During that era, the authors recount, the United States military experienced an inordinate number of “wheels-up” crashes; after planes had landed, pilots would inexplicably retract the wheels instead of the wing flaps, sending the planes crashing to the runways on their bellies. At first, the blame fell squarely on the pilots, the authors explain: why were they so careless? Were they fatigued? But when the military began to look more closely, they realized the problem was limited to two particular plane models: B-17s and B-25s. Instead of looking inside the heads of the pilots, Mullainathan and Shafir write, the military looked inside the cockpits of those specific planes; there investigators discovered that the wheel controls and flap controls were placed right next to each other and looked nearly identical—a design specific only to the crashing planes. After identifying the problem and implementing a minor change in design (a small rubber wheel was placed on the end of the landing-gear lever), the number of wheels-up crashes declined.

“Error is inevitable, but accidents are not,” Mullainathan and Shafir explain. It’s not that pilots don’t bear responsibility for their training and alertness, but “a good cockpit design should not facilitate mistakes.”

The same should be true, they argue, for programs and policies that address poverty. Just as well-trained World War II pilots made seemingly silly errors in poorly designed cockpits, well-intentioned social programs such as low-income job-training courses, subsidized vaccination programs, and bank programs designed to help people save money, sometimes fail to attract—or retain—the people they are designed to serve.

It’s natural to look at the intended clients and blame a lack of personal responsibility, the authors explain. But, as Mullainathan and Shafir have shown through their own work, all individuals stuck in a cycle of scarcity will inevitably find themselves plagued with similar slips in performance; focus often suffers, long-term planning gives way to immediate financial fire-fighting, follow-through on commitments often becomes sporadic.

So why not design social programs that make room for this scarcity-induced behavior? the authors ask. Why not look at the “cockpit” instead of the “pilot”?

Take job-assistance programs, for instance, where absenteeism and non-completion are a regular problem. The clients these programs serve are often mentally depleted by the time they arrive for classes, the authors explain: out-of-work clients struggle to make ends meet and often must arrange transportation and child care in order to attend a session. If a client misses a class—a likely occurrence—the authors explain, attending the next one becomes much more difficult, and dropping out becomes increasingly likely.

But what if the class had a less rigid curriculum? Instead of offering more classes or changing the curriculum, Mullainathan and Shafir suggest, existing classes could be altered to start at different times and proceed in parallel. Then, if clients miss a class, the authors argue, they could simply show up the following week to a parallel session running a week or two behind.

Although this type of accommodating approach is often criticized as coddling or paternalistic, Mullainathan and Shafir argue that it’s just the opposite. This is not a substitute for personal responsibility, the authors claim; rather, “fault tolerance is a way to ensure that when the poor do take on [responsibility] themselves, they can improve—as many do. It is a way to ensure that small slipups—an inevitable consequence of bandwidth [depletion]—do not undo hard work.”

Most importantly, the authors explain, this shift in focus from “pilot” to “cockpit” does not necessarily require expensive monumental changes in existing policy. Rather, they argue, just as the addition of the small rubber wheel to the landing-gear lever in the World War II planes reduced pilot error, these social programs might achieve greater success through small tweaks to their design.



Designing for Scarcity

SMALL CHANGES can have huge effects, Mullainathan explains—an approach to policy that has gained traction during the last decade, in particular through the work of Richard Thaler, Walgreen Distinguished Service Professor of behavioral science and economics at Chicago’s Booth School, and Walmsley University Professor Cass Sunstein, of Harvard Law School (see“The Legal Olympian,” January-February, page 43). Their 2008 book, Nudge: Improving Decisions about Health, Wealth, and Happiness, presented years of research and insight on “choice architecture”—methods of influencing decisions by changing which choices are offered, without taking away people’s freedom to choose.

This type of decision manipulation is well known—and widely used—in the world of marketing, and like any tool, Mullainathan says, “It can be used for evil.” But in the world of behavioral economics, the idea is to help people do the things they already want to do: ironically, to make the rational, healthy, self-benefiting choices that traditional economic models (wrongly) assumed they already consistently did.

In certain circumstances, he explains, “nudging” people into better choices can be as easy as changing the wording on a page. For instance, when workers start a new job in the United States, they are given a form asking them to check a box if they want to enroll in a 401(k) retirement plan. In a 2001 study by Brigitte Madrian and Denis F. Shea (both then at Chicago; Madrian is now Aetna professor of public policy and corporate management at the Harvard Kennedy School), researchers gave new employees at certain businesses slightly altered forms, instructing them to check the box if they did not want to enroll. The results were striking, notes Mullainathan: at companies where employees had to opt out, more than 80 percent enrolled; at companies where they had to opt in, only 45 percent checked the box.

But in other circumstances—for example in the case of payday loans—the solutions are much less straightforward. Poor people take on these predatory loans because they have to, Mullainathan explains; bills must be paid now. Any nudging—or even outright pushing—at that moment will likely have little effect. But what if the nudges occurred long before the payday loan was necessary? What if people who are consumed by financial pressures in the present got help in planning for the future?

Mullainathan and Shafir present pages of suggested solutions, citing successful programs like Save More Tomorrow, a retirement-savings plan designed by Thaler and behavioral economist Shlomo Benartzi, a professor at the UCLA Anderson School of Management. The program asks people to commit to savings deductions whenever their salary increases in the future; instead of asking them to sacrifice during times of scarcity, Mullainathan explains, it’s done during times of (relative) abundance. The results were encouraging across the board, and in one firm, more than 75 percent of those offered the plan chose to enroll. By the third pay raise, those who had opted in had more than tripled their savings rates.

To effect such changes, behavioral economists must first shift people’s thinking—and the only way to do that, says Mullainathan, is to provide more evidence that their approaches to policy work in the real world.

Many scientists and nonprofit organizations are already answering that call, running experiments around the globe to test proposed changes in policy. In 2008, Mullainathan and Shafir themselves joined with several other colleagues to co-found Ideas42, a nonprofit that collaborates with organizations and businesses worldwide to test behavioral approaches to problems. A 2013 collaboration with the Cleveland Housing Network, for instance, yielded a 20 percent improvement in timely rent payment simply by sending postcard reminders and creating a monthly raffle for tenants who paid on time. Even changes as simple as new wording on a bank statement, converting interest percentages to “dollars owed,” or telling people how their gas and electricity usage compares to their neighbors’, have affected people’s choices for the better, Mullainathan explains. “The idea is to encourage people to do things just by making things easier. And the best part is…it often costs policymakers nothing.”

To Nudge author Richard Thaler, work like this marks the next step in the evolution of behavioral economics. Mullainathan and Shafir “are part of a generation of economists and social scientists changing the way we think about development economics,” he said in an interview. “They have taken seriously the idea that we have to do things that are not just interesting to other academics, but that have the possibility of being scaled up.”

Scaling Up the Science of Scarcity

FOR POLICYMAKERS, it’s that potential to effect change broadly that matters—and the evidence of success from the behavioral sciences has begun to catch their attention. In 2010, the British government formed the Behavioural Insights Team, intended to spread understanding of behavioral approaches and to implement trial programs in several areas of social policy. In 2014, the White House formed its own Social and Behavioral Sciences Team (called SBST, though many in the field refer to it as the “Nudge Unit”), and other governments around the world have shown interest in doing the same.

Perhaps the best indication of growing awareness of the value of these behavioral insights came this past December, when the World Bank released its 2015 annual World Development Report, which for the first time was devoted entirely to behavioral approaches to policy. The chapter on poverty was heavily influenced by Mullainathan and Shafir’s work on scarcity, according to one of the report’s authors, the Bank’s Alaka Holla. “Evidence of these programs’ success has been building for a while,” she said in an interview. “It was time to take this to the policy world.”

For Mullainathan, it’s been thrilling to see the spotlight widen from its traditional focus on people’s decisions to the circumstances shaping those choices. Mounting evidence of experimental programs’ successes and increased attention from reputable organizations has spurred real interest from policymakers in exploring behavioral economic solutions. But interest and full-scale adoption are two very different things, he points out, and the biggest hurdle to widespread implementation is the problem of poverty itself. “Our solutions always struggle because the underlying problem is so complicated,” Mullainathan explains. What might work for one population might completely fail for another.

Although social scientists know a lot about the economics of poverty, they know much less about the psychology it creates in individual populations, and this social science, Mullainathan argues, is just as important as the technological sciences policymakers rely on to solve problems. Scientists spend vast resources developing medications, water-purifying technologies, financial products, and social services designed to help people in need, he explains. But getting people touse these technologies also requires understanding the psychology of the people using them. Policymakers, he says, must make this type of research a priority.

“Bandwidth is a core resource,” Mullainathan and Shafir argue—one just as powerful, limited, and influential in people’s decisionmaking process as the dollars in their bank account. If we begin to look at bandwidth and the factors affecting it in the same way we measure economic circumstances, the authors claim, we can design and evaluate social programs based on how people actually act—not simply how numbers and statistics tell us they should.

“The mistake we make in managing scarcity is that we focus on one side of the calculus,” they write at the conclusion of their book. The cost of making changes to existing policies is easy to measure, but the cost of not doing so is much harder to quantify. This is what the science of scarcity attempts to gauge, Mullainathan and Shafir maintain: how situations, programs, and policies can deplete, tax, or build up psychological resources that are every bit as important as the physical ones that fill—or empty—our coffers.



Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobel thoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.

 

7 steps to get rich, from a 90-year-old book on wealth -The Richest Man in Babylon.

by Darpan Sachdeva

-via Kathleen Elkins,Business Insider

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The “secret” to getting rich is not much of a secret at all.

“It is practical. That which one man knows can be taught to others,” George S. Clason writes in his 1926 personal finance classic “The Richest Man in Babylon.

Clason’s collection of parables, based in the ancient city of Babylon, starts with the story of Arkad — the son of a humble merchant, of a large family with no hope of inheritance — who grows to become the richest man in Babylon, thanks to wisdom he sought out from a rich money lender named Algamish.

In hopes of turning his city into the wealthiest in the world, the King of Babylon asks Arkad if he can share the “secret to wealth” with the rest of the city. Arkad complies, and over the course of seven days, teaches a class of 100 men what he calls the “seven cures for a lean purse.”

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Save at least 10% of your income

1. ‘Start thy purse to fattening.’

Getting rich all begins with paying yourself first. More specifically, set aside a minimum of 10% of your earnings, Arkad advises: “For every ten coins thou placest within thy purse take out for use but nine. Thy purse will start to fatten at once and its increasing weight will feel good in thy hand and bring satisfaction to they soul.”

Anyone — rich or poor — can put money aside and let it accumulate, Arkad assures his class. You just have to commit to setting aside a minimum of 10%, and you’ll learn to live without it.

Today, it’s even easier to learn to live without a certain chunk of your income, thanks to technology. You can automatically deposit money from your paycheck and checking account into a retirement account, savings account, or other investment vehicle, removing the temptation to spend. If you never see it, you’ll learn to live without it.

“I, too, carried a lean purse and cursed it because there was naught within to satisfy my desires,” the richest man in Babylon explains to his class. “But when I began to take out from my purse but nine parts of ten I put in, it began to fatten. So will thine.”

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Live below your means

2. ‘Control thy expenditures.’

The next step is to simply spend less than you earn, which is easier said than done. Our consumer-driven society makes it incredibly easy to overspend — and what’s more, when income increases, people have a tendency to boost their spending. It’s called “lifestyle inflation.”

“What each of us calls our ‘necessary expenses’ will always grow to equal our incomes unless we protest to the contrary,” Arkad explains. “Confuse not the necessary expenses with thy desires.”

To control your expenses, you have to become a conscious spender and recognize where your money is going. A good starting point is to record all of your purchases (whether in a notebook, through an app like Mint, or on an Excel spreadsheet) and analyze your spending patterns.

“Study thoughtfully thy accustomed habits of living,” Arkad says. “Let thy motto be one hundred per cent of appreciated value demanded for each coin spent.” Even if you’re well on your way to accumulating a fortune, the habit of living below your means still applies. There are a surprising number of frugal billionaires who choose to save or give to charity, rather than drop their money on jets, yachts, and mansions.

 

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Put your money to work.

3. ‘Make thy gold multiply.’

Once you’ve made a habit out of controlling your expenses and setting aside at least 10% of your income, put that money to work.

“The gold we may retain from our earnings is but the start,” says Arkad. “The earnings it will make shall build our fortunes … Learn to make your treasure work for you. Make it your slave. Make its children and its children’s children work for you.”

Making your money your “slave” is the modern-day equivalent to smart investing through your employer’s 401(k) plan or other retirement accounts, such as a Roth IRA or traditional IRA. Thanks to compound interest, your savings can grow tremendously over time — the trick is to set aside money regularly and to start as early as possible.

“Behold, from my humble earnings I had begotten a hoard of golden slaves, each laboring and earning more gold,” explains Arkad. “As they labored for me, so their children also labored and their children’s children until great was the income from their combined efforts.”

 

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Make smart investments.

4. ‘Guard thy treasures from loss.’

There is always going to be a level of risk involved in investing, which is why it’s crucial to be smart about where you invest your money.

“The first sound principle of investment is security for thy principal,” says Arkad. “Is it wise to be intrigued by larger earnings when thy principal may be lost? I say not. The penalty of risk is probable loss. Study carefully, before parting with thy treasure, each assurance that it may be safely reclaimed. Be not misled by thine own romantic desires to make wealth rapidly.”

Investing is a long term game and the “get rich quick” mindset will only set you back. As legendary investor Warren Buffett likes to say, “It’s pretty easy to get well-to-do slowly. But it’s not easy to get rich quick.”

It can be tricky to figure out the best way to invest your money, but you don’t have to go at it alone. There are financial planners, wealth advisers, and robo-advisers to guide you. There is also an abundance of accessible information out there if you want to be a more hands-on investor. Check out some of our favorite books and podcasts that cover investing basics, strategies, and tips.

“Consult with wise men,” advises Arkad. “Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe investments.”




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Invest in a home.

5. ‘Make of thy dwelling a profitable investment.’

I recommend that every man own the roof that sheltereth him and his,” Arkad tells his class on the fifth day. “Nor is it beyond the ability of any well-intentioned man to own his home.”

Today, this topic is heavily debated, and there is no one, universal answer to the buying or renting question — however, Arkad argues that, “to own his own domicile and to have it a place he is proud to care for, putteth confidence in his heart and greater effort behind all his endeavors.”

Of course, before investing in a home, you’ll want to know how much you can afford and be financially prepared for the myriad of hidden costs that come with buying a home.

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Plan ahead for retirement

6. ‘Insure a future income.’

“The life of every man proceedeth from his childhood to his old age,” says Arkad. “Therefore do I say that it behooves a man to make preparations for a suitable income in the days to come, when he is no longer young, and to make preparations for his family should he be no longer with them to comfort and support them.”

Today, we call “the days to come” retirement. Time is your biggest asset when it comes to investing in retirement accounts — thanks to compound interest — so the earlier you can start saving for retirement, the better off you’ll be.

As far as making preparations for your family upon your death, or should you be in some way disabled, we now have insurance policies for these situations that you may want to consider:life, disability, and long-term care.

jpgget rich-7

Continually self-educate.

7. ‘Increase thy ability to earn.’

“The more of wisdom we know, the more we may earn,” preaches Arkad. “That man who seeks to learn more of his craft shall be richly rewarded.”

Rich people choose to constantly learn and grow — they would rather be educated than entertained, even after they’ve attained incredible success. Take Warren Buffett, for example, who estimates that 80% of his working day is dedicated to reading.

“Cultivate thy own powers, to study and become wiser, to become more skillful, to so act as to respect thyself,” says Arkad. “Thereby shalt thou acquire confidence in thyself to achieve thy carefully considered desires.”

Today — with such a wealth of books, podcasts, and online resources out there — it’s easier than ever to self-educate.



Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobel thoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.

Nobleness

by  Darpan Sachdeva

Prince EA

Prince EA is an American Spoken word artist and YouTuber, known for delivering amazing spoken word rhymes over the top of inspirational soundtracks.His You Tube channel is getting lots of popularity and has gained millions of views.The inspirational videos he creates are just amazing and creating a new movement amongst millennial world wide.

He puts up and asks questions in his videos that are usually not asked or not usually answered to. If you want to understand and create an impact on the world and think differently,his viodeos are a must to watch:

Down below you will find 3 of his videos that creates a new path for the humanity towards nobleness and greatness.

1.Why Most People Die Before Age 25:

This video so truly shows us how we in real world put an end to our dreams and aspirations by the time we are 25  and never challenge ourselves towards the life of our real us.The life we would in fact love to lead of true potential and abundance.

He says that life shouldn’t be something that you just get on with. Everyone can relate to this video, and the challenges Prince EA talks about are real for all of us whether we like to admit it or not.
“You will never start this video again with the same perspective you had when you                                                                  clicked play”

 

2.  I Am NOT Black, You are NOT White

This video so immensely change the way we perceive in mind the different races that co-exist in the world. Prince EA has so beautifully showed the analogy of – Our race is nothing more than a model of car but at its core, we are all the same.

He has expressed so beautifully that who we are are is found inside us and not outside.The video is so mind blowing and inspiring .

                    Who would you be if the world never gave you a label?”

 

3.MAN vs EARTH

In the video  below Prince EA so beautifully expresses his point of view on the way we humans  as species have  acted and reacted to the mother earth while we have lived here and how and what we can do to make our stay here a better one.

Only You can do it and time is of essence”





Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobel thoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.

 

All time Best 5 Ted talks as per TED Head -Chris Anderson

by Darpan Sachdeva

Chris Anderson,as the Curator of TED has the following five Talks that take the front
place for him when it comes to consuming all the insights TED has to offer,

As the curator of TED, he’s had a front row seat for nearly every presentation or performance that’s graced the event’s stage and he names these five “quirky” picks.

1. David Deutsch: Chemical scum that dream of distant quasars

Legendary scientist David Deutsch puts theoretical physics on the back burner to discuss a more urgent matter: the survival of our species. The first step toward solving global warming, he says, is to admit that we have a problem.

 

2.Clay Shirky: Institutions vs. collaboration.

In this prescient 2005 talk, Clay Shirky shows how closed groups and companies will give way to looser networks where small contributors have big roles and fluid cooperation replaces rigid planning.

 

3. Nancy Etcoff : Happiness and its surprises

Why is Etcoff’s talk, “Happiness and its surprises,” one of Anderson’s all time faves? “This is one of a whole collection of talks on happiness that have really changed my thinking and, um, I think actually made me happier.”

 

 

4. Bryan Stevenson: We need to talk about an injustice

In an engaging and personal talk — with cameo appearances from his grandmother and Rosa Parks — human rights lawyer Bryan Stevenson shares some hard truths about America’s justice system, starting with a massive imbalance along racial lines: a third of the country’s black male population has been incarcerated at some point in their lives. These issues, which are wrapped up in America’s unexamined history, are rarely talked about with this level of candor, insight and persuasiveness.

 

5. Steven Pinker and Rebecca Newberger Goldstein: The long reach of reason

Here’s a TED first: an animated Socratic dialog! In a time when irrationality seems to rule both politics and culture, has reasoned thinking finally lost its power? Watch as psychologist Steven Pinker is gradually, brilliantly persuaded by philosopher Rebecca Newberger Goldstein that reason is actually the key driver of human moral progress, even if its effect sometimes takes generations to unfold. The dialog was recorded live at TED, and animated, in incredible, often hilarious, detail by Cognitive.




 
Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobel thoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.

 

 

Motivation in life-The Goldilocks rule

by  Darpan Sachdeva

goldilocks

During the course of daily routines we pick up certain tasks and leave them in between never completing them.Have you ever thought why this happens to almost all of us on daily basis.Whats the reason for this popping up of lack of motivation within us that stops us to go ahead  and live a life of abundance?

Researchers and scientists  have studied motivation for long now and have come to conclusion that human motivation is based on certain parametres.In continuation to this they have proven a  rule also called “Goldilocks Rule  to motivation”.

The Goldilocks Rule states that humans experience peak motivation when working on tasks that are right on the edge of their current abilities. Not too hard. Not too easy. Just right.

Human beings love challenges, but only if they are within the optimal zone of difficulty.
For example, imagine you are playing tennis. If you try to play a serious match against a four-year-old, you will quickly become bored. The match is too easy. On the opposite end of the spectrum, if you try to play a serious match against a professional tennis player like Roger Federer or Serena Williams, you will find yourself demotivated for a different reason. The match is too difficult.

Compare these experiences to playing tennis against someone who is your equal. As the game progresses, you win a few points and you lose a few points. You have a chance of winning the match, but only if you really try. Your focus narrows, distractions fade away, and you find yourself fully invested in the task at hand. The challenge you are facing is “just manageable.” Victory is not guaranteed, but it is possible. Tasks like these, science has found, are the most likely to keep us motivated in the long term.

Tasks that are significantly below your current abilities are boring. Tasks that are significantly beyond your current abilities are discouraging. But tasks that are right on the border of success and failure are incredibly motivating to our human brains. We want nothing more than to master a skill just beyond our current horizon.

Measure Your Progress

measure your goal

Its been said whats is measured is done.
If you want any part of your life to improve ,you have got to put it to some sort of measurable values.This is the boost giver that would enhance you move fully tracked towards your goals. It has to do with achieving that perfect blend of hard work and happiness.

Working on challenges of an optimal level of difficulty has been found to not only be motivating, but also to be a major source of happiness. As psychologist Gilbert Brim put it, “One of the important sources of human happiness is working on tasks at a suitable level of difficulty, neither too hard nor too easy.”

This blend of happiness and peak performance is sometimes referred to as flow, which is what athletes and performers experience when they are “in the zone.” Flow is the mental state you experience when you are so focused on the task at hand that the rest of the world fades away.

In order to reach this state of peak performance, however, you not only need to work on challenges at the right degree of difficulty, but also measure your immediate progress. As psychologist Jonathan Haidt explains, one of the keys to reaching a flow state is that “you get immediate feedback about how you are doing at each step.” The human brain is wired this way.

Two Steps to Motivation as research has shown:

If we want to break down the mystery of how to stay motivated for the long-term, down below would help:

  1. Stick to The Goldilocks Rule and work on tasks of just manageable difficulty.
  2. Measure your progress and receive immediate feedback whenever possible.
 
Wanting to improve your life is easy. Sticking with it is a different story. To stay on a motivated  mode, pick up a task or a challenge that is just within your reach,measure as you progress  and repeat the process.

Here is to your success and being motivated !!!




Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobel thoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.

11 Life lessons learnt from the Champ-Muhammad Ali

by  Darpan Sachdeva

Last week the famous,one and only one ,The great Muhammad Ali  sadly passed away  but the legacy, as a person what he was and would be for the times and generations to come is just unmeasurable .The loss of the  Champ of the champions is huge.

 

Down below in the video- A Very Touching Tribute To Muhammad Ali by Billy Crystal

His life as one, teaches us so much to live by but down below are the 11 prominent lessons from him what are worth learning to live a life of fullness and abundance

 

mohd Ali

 

1. Turn your .Anger into power
At the age of 12, he was found seething with anger and vowing to “whup” the person who had stolen his bicycle. Joe Martin a police officer and boxing coach advised him to take up boxing before making such a move for self defence. The rest is history. What makes you Angry? You could turn that into power

2.It’s not the action that makes a thing right or wrong, but the purpose behind the action.

We must take ‘right’ action motivated by a purpose greater than ourselves. It must be a purpose designed to help others and to make for a better world.

If our purpose is selfish, its longevity will be unsustainable, but if it is given as an act of generosity, then who knows what power is emitted by such action?

3.Focus
Even when there were distractions around, he focused on training. Focus on what matters. In High School he graduated 376th out of a class of 391. He focused on his strength. The boxing ring and not the classroom.

4.To be able to give away riches is mandatory if you wish to possess them. This is the only way that you will be truly rich.

Giving back is the only way to true richness.More you are able to put the riches for the betterment of the people around you and the society as a whole ,the more rich you become.

5.Self-belief

Always trust your self.For Muhammad Ali,even when the media didn’t believe he would beat George Foreman in the famous Rumble in the jungle fight, he still believed that he was the greatest. Believe regardless of naysayers.

6.Be Your self.

You so not have to be what anyone else wants you to be.To be me is to be free. Break all chains that seek to entangle you – whether it be parental expectations, organizational demands or societies conformities. You are unique, and in order to operate in that uniqueness you must resist conformity if you are to truly embrace your destiny.

7. Love is a net that catches hearts like a fish.

Let love do its powerful work within you. Love draws. Love attracts. Love builds. Love heals. Love captivates.Love is a  heat that will warm the hearts of generations.

8.Impossible is nothing
“Impossible is just a big word thrown around by small men who find it easier to live in the world they’ve been given than to explore the power they have to change it. Impossible is not a fact.

It’s an opinion. Impossible is not a declaration. It’s a dare. Impossible is potential.
Impossible is temporary. Impossible is nothing.”

9.It isn’t the mountains ahead to climb that wear you out; it’s the pebble in your shoe.

Take time to pause a moment in order to remove any pebbles you may have picked up along the way. These can take the form of small bad habits, seeds of unforgiveness, lack of discipline, secret fears, or even devious doubts.

Pull aside, even for a moment. Address them. Deal with them. Destroy them. For many a mountaineer has fallen to their death because of an unaddressed pebble. Deal with the pebbles in your life decisively, and you will conquer many more mountain tops.

10.Hard work and dedication
Angelo Dundee Champs’s trainer said he was always first in the gym and last to leave. “He’d even come to train when he wasn’t fighting…He was like a student of boxing. He’d find out how champs trained, how much they ran, how they ate before and stuff like that.”

“His roadwork was twice as much as what he needed, his sparring twice as much as he needed. If he was gonna fight 15 rounds, he’d spar for 30,” Justin Fortune, a boxing trainer, conditioning coach said.
The fallen champion also once said, “I hated every minute of training, but I said, ‘Don’t quit. Suffer now and live the rest of your life as a champion.”

When asked how many sit-ups he did, he responded, “I don’t count my sit-ups. I only start counting when it starts hurting. That is when I start counting, because then it really counts. That’s what makes you a champion.”

His daughter Laila Ali reflecting on what she learned from her father “I learned that in order to be the best, you have to work harder than the rest”.

11. Old age is just a record of one’s whole life.

What does your record look like thus far? Every day we breathe we are writing the next page that will be included in the volume called, ‘My life’.

Within its record will be scribbles, mistakes, smudges, scratchings, all mixed up with moments of great joy, eloquence, sadness, wisdom and folly. But by the time we reach the last page – may it end with the words, ‘I have lived a full and fulfilled life – read and learn from my mistakes – and for the rest of the success story contained – there went I, but by the grace of God.’

 




Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobel thoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.

(Video) Steven Spielberg Commencement address-2016 at Harvard University

by Darpan Sachdeva

Steven Speilberg

My whole hearted true appreciation  and love for Steven Spielberg has again taken a new height after listening to through his commencement address at Harvard university this year.

 

 

There is so much to take home from his speech here and i do hope this would add a true value to our “Human” beings.

The lessons  gathered  here are:

1.Education is important and its never too late to learn in life.

2 Listen to your inner voice and intuition.

3.Do not turn away from whats painful.Examine it and then challenge it.

4.Know your past.

5.Do not let your morals be swayed away by convenience and expediency.

6.Make good friends.

7.Love,Support,Courage,Intuition are very important.

8 Seek a future of Justice and Peace.

9.Stay humanly connected .




Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobel thoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.

 

 

(Video) Shark Tank’s Multi-Millionaire Daymond John on- Thinking Big

by  Darpan Sachdeva

Daymond-John2

The Billion Dollar money making Titan “Daymond John“, is no stranger to living and thinking big . Daymond John sky rocketed his clothing line, “FuBu” from the streets, to the worlds biggest stores with over 4 Billion Dollars in product sales to date.

He is an  entrepreneur, investor, television personality, author and motivational speaker. He is best known as the founder, president, and CEO of FUBU, and appears as an investor on the ABC reality television series Shark Tank.

Daymond is walking proof that you can really be successful if you put your heart and soul into your idea .Watch out the video below  where he speaks so beautifully of how and what made him a successful  person he is today from absolutely scratch.

Daymond John: Total Package Reel – Entrepreneur, TV Star, Fashion Mogul, Motivational Speaker

 

John has written three books, Display of Power, The Brand Within, and The Power of Broke.

Top Quotes from Daymond John:

-“I try to partner up, and strategic partners are way more important than money. I’d rather split a dollar in half with somebody and make way more than go try and learn it myself and lose trying to learn a whole other industry.” – Daymond John

– “RISE &GRIND! Remember the saying: “Everything u want in life is right outside ur comfort zone!” Get uncomfortable 2day! Good luck.” – Daymond John

– “Nothing is impossible; the word itself says ‘I’m possible’!”

– “RISE &GRIND: Remember, most ppl only hate u when they want 2 be you… I LOVE MY HATERS! U should 2! Be a star 2day.”  – Daymond John

– “Rise &Grind! Dont wait 4the “perfect time” u will wait forever, always take advantage of the time ur given &make it “perfect 4 u” GO GET EM!” – Daymond John

– “Rise and Grind! We do today what others won’t 2 achieve 2morrow what others can’t!”




Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobel thoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.

What Really Matters at the End of Life-Ted Talk by BJ Miller

by Darpan Sachdeva

Some people are so afraid to die that they never begin to live. –Henry Van Dyke

This Ted talk by BJ Miller is one what i have been been re- watching during the week and found of an immense value to share.

 

 

At the end of our lives, what do we most wish for? For many, it’s simply comfort, respect, love. BJ Miller is a palliative care physician at Zen Hospice Project who thinks deeply about how to create a dignified, graceful end of life for his patients. Take the time to savor this moving talk, which asks big questions about how we think on death and honor life.

 




Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobel thoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.

 

 

31 Real Life Quotes to Overcome Adversity

by  Darpan Sachdeva

Lao Tzu said it best,“A journey of a thousand miles starts with a single step.”

Adversity2c

During the course of  our lives we all go through those down and dark period in life.Its when we feel everything falling apart for us and nothing seems to work.

We want to give up on everything what we have worked upon and  dreams of for years.This is the stage what we call as “Adversity”.




Adversity is inevitable, but difficulties or misfortunes don’t have to keep you from achieving your intended goals and finding the happiness you seek in business and in life.It’s how you overcome these adversities can make all the difference.

Every challenge we successfully conquer serves to strengthen not only our will, but our confidence, and therefore our ability to confront future obstacles.

So, the next time you find yourself standing in front of a huge mountain that feels impossible to climb–whether it involves your job, partner or business– refer to these wise words and inspirational quotes to help you find your way and remember why you started on this journey in the first place.

 

Down below  31 quotes on adversity would keep you on track towards your road to success and give you strength all through.

1.Turn your wounds into wisdom. ~Oprah Winfrey

2.There is no education like adversity. ~Disraeli

3.“Colors come floating into my life, no longer to carry rain or usher storm, but to add color to my sunlit sky.” ~Rabindranath Tagore

4.I ask not for a lighter burden, but for broader shoulders. ~Jewish Proverb

5.Adversity is like a strong wind. It tears away from us all but the things that cannot be torn, so that we see ourselves as we really are. ~Arthur Golden, Memoirs of a Geisha

6..Always bear in mind that your own resolution to success is more important than any other one thing. ~Abraham Lincoln

7. I hated every minute of training, but I said, ‘Don’t quit. Suffer now and live the rest of your life as a champion.’~Muhammad Ali

8.“Hope is being able to see that there is light despite all of the darkness.”~ Desmond Tutu

9.“Kites rise highest against the wind, not with it.” ~Winston Churchill

10.“Life is not always a matter of holding good cards, but sometimes, playing a poor hand well.”~ Jack London

Adversity6

11.I know God will not give me anything I can’t handle. I just wish that He didn’t trust me so much. ~Mother Teresa

12.The gem cannot be polished without friction nor man without trials. ~Confucius

13.If the thunder is not loud, the peasant forgets to cross himself. ~Russian Proverb

14.Watch a man in times of… adversity to discover what kind of man he is; for then at last words of truth are drawn from the depths of his heart, and the mask is torn off. ~Lucretius, On the Nature of Things

15.“We must accept finite disappointment, but never lose infinite hope.”~ Martin Luther King, Jr.

16.Success is 99 percent failure.~Soichiro Honda

17.Success seems to be largely a matter of hanging on after others have let go~.William Feather

18.Believe you can and you’re halfway there. ~Theodore Roosevelt

19.Your big opportunity may be right where you are now.~Napoleon Hill

20.Everyone here has the sense that right now is one of those moments when we are influencing the future. ~Steve Jobs

Adversity5

21.Every great man, every successful man, no matter what the field of endeavor, has known the magic that lies in these words: every adversity has the seed of an equivalent or greater benefit.~W. Clement Stone

22.“Sacrifice has great value in that it not only achieves personal success but builds successful communities, nations and humanity. Each moment spent in selfless sacrifice makes you a stronger person, and such strength fosters the required determination to cope with adversity and hardship for the sake of others.”~Vishwas Chavan

23.Things are never so bad they can’t be made worse. ~From the movie The African Queen

24.“You can’t start the next chapter of your life if you keep re-reading the last one.” ~Zig Ziglar

25.“I am not what has happened to me, I am what I chose to become.”~ Carl Jung

26.“Getting knocked down in life is a given, getting up and moving forward is a choice.”~ Zig Ziglar

27.“The greatest glory in living lies not in never falling, but in rising every time we fall.” ~Nelson Mandela

28.Never be ashamed of a scar. It simply means you were stronger than whatever tried to hurt you.” Unknown

29.“To solve a problem, you need to remove the cause, not the symptom.”
Liezi, Lieh-tzu: A Taoist Guide to Practical Livin

30.The spiritual path is not strewn with roses. ~Haridas Chaudhuri

31.“No one could endure lasting adversity if it continued to have the same force as when it first hit us. We are all tied to Fortune, some by a loose and golden chain, and others by a tight one of baser metal: but what does it matter? We are all held in the same captivity, and those who have bound others are themselves in bonds – unless you think perhaps that the left-hand chain is lighter. One man is bound by high office, another by wealth; good birth weighs down some, and a humble origin others; some bow under the rule of other men and some under their own; some are restricted to one place by exile, others by priesthoods: all life is a servitude.

So you have to get used to your circumstances, complain about them as little as possible, and grasp whatever advantage they have to offer: no condition is so bitter that a stable mind cannot find some consolation in it.”
~ Seneca, On the Shortness of Life




Blog PhotoDarpan Sachdeva is the CEO and Founder of Nobelthoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.