BEWARE OF FALSE DICHOTOMIES

There is a popular story from the tales of?Nasreddin, a well-known figure in Middle Eastern folklore who is celebrated for his clever, humorous, and often paradoxical stories. He was a man who shared wisdom through seemingly foolish or absurd acts, which always carried a deeper lesson.

One night, a friend of Nasreddin was walking past his house and saw Nasreddin on all fours, searching for something in the grass under the streetlamp. Curious, the friend asked what he was looking for. Nasreddin replied, "I am looking for my keys." The friend joined the search, but after some time, he enquired, "Where did you last see your keys?" Nasreddin responded, "Inside the house." Annoyed, the friend said, "If you last saw them inside, why are you searching out here under the streetlamp?" Nasreddin responded, "The light is much better here."

Though humorous, this story holds profound wisdom. It reminds us that happiness and answers often lie within, yet we tend to search for them externally, in glittering things that distract us. When it comes to financial freedom, the story signifies another key point: the mental paradigms we create. These paradigms often dictate our behaviour, leading us to repeat mistakes or act irrationally unless we consciously break free from them and seek the answers within.

Our paradigms develop over time, significantly influenced by childhood experiences, observations, and suggestions planted in our minds. These paradigms can become rigid walls, causing us to unconsciously see, judge, and act in stressful situations from a limited perspective. We often remain confined within these paradigms, limiting our ability to think creatively and find innovative solutions to our challenges.

Let me explain this with a personal example. In college, I received a daily allowance of 5 Rupees (30 cents; 1985 USD 1=16.60 Rupees). On days without science practical’s, I used the money for a rickshaw (tuk tuk) ride home, avoiding the overcrowded buses and reaching home in time for lunch. On other days, when I had the science practical at 3:00 p.m. I spent the money on a skewer of kebab and naan (bread) for lunch and walking 10 kilometres home in the Karachi heat. This experience taught me two things: 1) the law of substitution—I had to give up something to gain something else (kebab versus fare), and 2) the importance of budgeting and living within my means. At first glance, this seems like good life coaching, and it is. However, this is just one way of going about managing the food and transportation within the budget. There are many more possibilities and the idea of critical thinking is to expand the possibilities to find the best solutions.

A value creation mindset provides the vision to identify opportunities and build the requisite skills to transform the opportunities into a reality. Imagine, had I been shown a way or would have conceived myself (through critical thinking and a value creation mindset) the possibility to enjoy kebabs, afford a taxi every day instead of a rickshaw, and still have spare money for other things, I would have improved my quality of life or joyful living. In hindsight one possibility was to leverage my competence in mathematics. I excelled in mathematics while many students struggled with it. I could have tutored a few students after class for extra income. Over time, I could have expanded this into a small business by involving other students good at maths, charging them a commission for using my connections. This would have spared me from the exhausting walk home during the days with science practical’s, allowing me to rest and study more effectively. However, the paradigm at that time was to focus solely on studying. In retrospect, college exams were annual, leaving ample time to pursue other activities. I spent this extra time playing cricket and enjoying music, missing the opportunity to learn the crucial skill of generating money—an essential life skill since everything requires money.

This is just an example. The point is that my paradigms at that time did not allow me to think outside my limited frame of thinking. The other even more important point is that if I had learnt entrepreneurial skills early in life, they would have served me better than any theorems or laws of motion I learned.

To make money, you generally need to:

1.?? Identify an unmet need (value pool),

2.?? Develop a service or product to satisfy that need or serve an existing need better

3.?? Show proof of performance, and

4.?? Commercialize it to scale up.

?In the example above, there was a need for maths tutoring, and I had proof of performance (100% score in maths). However, the mindset I developed at home and from my observations hindered my ability to think entrepreneurially. In my home, it was considered inappropriate for students to work. This perspective stemmed either from concerns that it might reflect poorly on the family or from a protective love, ensuring that young ones focused solely on their studies without the burden of labour.

?It is not easy to break the paradigms formed in childhood and takes a lot of conscious effort to free oneself from them.? I have been successful in breaking free of some limiting paradigms, while others still haunt me like a song on a loop. Having said that I was infused with some amazing values that helped me chart a joyful course of life. I am sharing this and much more in the book to make readers think about their lives and more importantly of the next generation to equip them with practical tools of living along with high ideals and values.

The world is our playground, and our time on the field is fleeting. What truly matters is not the length of our life, but the quality of how we live it—how purposefully we use our time and how deeply we enjoy the experience of living. Joy is an internal state, emanating when we are free from fear, worry, and stress. Much of life's stress is tied to material concerns, from basic needs like food to higher aspirations like status, legacy, and comfort.

Joyful living?is a state of mind where we are fully present, free from worries about the future or regrets about the past. It's as if the entire universe condenses into the present moment, allowing us to experience the deep springs of joy that flow from a place of inner calm. Achieving this state requires being purpose-driven,?value-creating, and?courageous?as we navigate life’s ups and downs with self-confidence and serenity. This mindset enables us to collect a beautiful array of joyful moments with our loved ones while contributing value to the world.?Financial well-being?can support this journey by easing material concerns and opening the door to priceless experiences.

The concept of joyful living inspired me to write this book. Joyful living, built on the foundation of financial freedom, is a goal that many aspire to, but few achieve. This book aims to challenge limiting paradigms, foster an abundance mindset, and provide practical tools for continuous self-improvement, helping us excel in our endeavours and become more valuable and prosperous.

?In crafting this book, I conducted extensive research through questionnaires and interviews with individuals at various stages of their financial freedom journey. This research provided valuable insights, practical advice, and actionable tips for anyone seeking to transform their financial situation and achieve Joyful Prosperity. Additionally, I've included inspiring stories from those who are living joyful lives and were generous enough to openly share their journeys.

I extend my heartfelt gratitude to everyone who shared their stories and to those who completed the questionnaires. Your contributions have been invaluable in shaping this book.

After spending 28 years in corporate life—25 of which were with Procter & Gamble—I transitioned to entrepreneurship in 2017 by founding Courageous Minds in the UAE, a consultancy dedicated to helping leaders make better decisions for growth and achieving Joyful Prosperity. My career has been devoted to helping individuals and businesses thrive. Recently, I launched GrowthLab Solutions to digitize and simplify decision-making through a suite of innovative support tools. With this book, my goal is to inspire people, especially the younger generation, to set financial goals early, gain financial literacy, invest wisely, and cultivate a positive, value-creating mindset to live their dream life.