How To Win At College

Title: How To Win At College

Author: Cal Newport

Publisher: Broadway (2005)

BOOKS DIGEST SUMMARY:

Is it possible to be successful at college and still have fun? Cal Newport, certainly thinks so. By taking onboard the advice laid out in this book, you should be able to enjoy college life while also excelling as a student.

Newport was inspired to write the book after meeting a number of exceptional students who seemed to have the best of both worlds. Take Heidi for example, a fun and outgoing student who happened to be a Rhodes Scholar, a published author in the field of mathematics as well as the founder of a community service organization for young girls.

How did she balance all the above? Like numerous “How To” authors, Newport believes that anyone can reach such heights and that you don’t have to be a genius after all.  All you really need is some expert guidance from those who have done it before.

The book has a total of 75 rules drawn from the experiences of some of the country’s most successful students. Newport states that you don’t need to follow all of them, though if you choose a group of rules that really captures your attention, and take the time to implement them in your everyday college life, you will notice remarkable results.

Below, I have listed my top 10 favorite rules with a brief description of each;

1. Don’t Do All of Your Reading (rule  1)

Depending on your course, you may be given hundreds of journals to read, as well as core and optional textbooks. Newport argues that reading everything is inefficient and that you can make better use of your limited time.

Instead of reading everything, you could read chapter introductions and conclusions fully, and then skim everything else. While skim reading, note only the passages that seem to obviously support the thesis. You are bound to miss some points but your professor won’t. So be sure to follow always go to class (rule 57).

My take on this rule is that you should concentrate your reading on areas to be tested. Once you have mastered these, only then should you set aside some time for supplementary and outside reading in order to further you knowledge beyond what is expected.

2. Start Long-Term Projects The Day They Are Assigned (rule 4)

You can fend off procrastination by adhering to this rule. You could start off small by for example designing an outline or brainstorming ideas on potential thesis statements. For whatever psychological reason, doing some work the day a project is assigned seems to have a near-miraculous effect on reducing the tendency to delay.

3. Befriend a Professor (rule 8)

As well as getting sound advice on academic success, they provide letters of recommendation (or references as we call them here in the UK), can help you land internships, be nominated for awards, and, in general, enable you to take advantage of all the opportunities typically offered only to top students.

4. Always Be Working on a “Grand Project” (rule 16)

Newport gives some examples here. An average student sends a letter to the school newspaper; a winning student writes a regular column. So design a non-academic project that moves you closer to a passion filled aspiration. Not only will you stand out as a student, but you will also have an escape (rule 29) from regular University work.

5. Ask One Question at Every Lecture (rule 19)

This can help you stay attentive and engaged during lectures. It also helps clarify the material and reinforce you understanding of it. Newport advises that while reading up on areas that are to be covered in a lecture, write down the questions you feel are relevant, and once the opportunity arises during the lecture, ask away.

6. Study in Fifty-Minute Chunks (rule 22)

Avoid doing several hours end on end without breaks. The best thing to do is to work in fifty minute chunks, taking ten-minute breaks in between each chunk of work. Doing this will maximize the amount of material you can successfully learn and remember in a given sitting.

7. Schedule Your Free Time (rule 23)

Do you ever feel guilty when relaxing? Worrying that you should be doing some work instead? Schedule your free time and you will avoid such dilemmas. Newport flips the script with a clever suggestion that work time is any time that you are not explicitly relaxing.

Some ways you could schedule your free time include having an end point for the day. For example, you might say that ten P.M. is the end of your work day, and from that point on you will just relax until you go to sleep. You could also schedule other relaxation times during the day.

By reversing the way you think about free time, not only will you work more, but when you relax, you will relax better.

8. Do Schoolwork Every Day (rule 34)

One of the keys to success in anything is consistency. By doing some work everyday, you will stay in the zone. You fall into slumps when you take long breaks from work (as we know from long summer breaks). But by keeping the rhythm going you will create a powerful cycle of reinforcement and productivity, a cycle which will ensure you remain the Tiger Woods of academic achievement.

Sticking to this rule, doesn’t mean you have to lose out on your social life. An an hour of work right after lectures on Friday doesn’t stop you from going out later.

9. Don’t Undersleep, Don’t Oversleep (rule 42)

To have energy and focus during the day, be sure to get the sleep you need. Some people need eight hours, others need seven, six or five.  Whatever your amount is, figure it out and try to stick to it. Over shooting this figure and sleeping in is a waste and can in fact leave you feeling more tired. Treat your body like a machine; give it exactly what it needs to perform its best, not any more, not any less.

10. Eat Healthy (rule 59)

As a student, it is hard to avoid pizza, beer, and heavy alcohol. However, junk food and excessive drinking do not maximize your energy. Fatty foods, refined sugar, and large amounts of refined carbohydrates will all lead you to becoming increasingly sluggish. You will feel much more energized after having a meal consisting of non-fried chicken, vegetables, fruit, and a lot of water.

Since we all have various cravings for junk, Newport suggests that an effective method for managing nutrition could be to designate weekends as a time to eat what you want. But when the school week arrives, be sure to treat your meals as fuel, only taking the premium stuff (fruits, vegetables, water and no junk).

End Notes:

I found this book to be extremely helpful in helping me organize how I will tackle my 3rd year at University. Oh how I wish I had read it before coming to University! I have given a copy to my younger brother who has 2 more years left, hopefully he will find it just as useful, if not more. Overall, a highly recommended read for any student intending to go, or already attending University.

Michael Tefula

Your Money or Your Life

Title: Your Money Or Your Life

Author: Joe Dominguez

Publisher: Penguin Books; Rev Upd edition (10 Dec 2008)

BOOKS DIGEST SUMMARY:

With similar overtones to ‘How to Be Rich by J.Paul Getty’ this book focuses on the uneducated concept and management of money that the majority of Americans have. This book shares sentiments found in ‘Rich Dad, Poor Dad by Robert Kiyosaki’ regarding the prevalence of financial illiteracy and offers advice and solutions to overcome this. I found this book to be very interesting and worthwhile because it also touches on the philosophical debate on what money actually is and why attitudes towards money in society are the way they are. The authors essentially argue with strong factual evidence that the ‘shop till you drop’ mentality is mass media propaganda to get people into debt and to prop up the flaws of the American economy. Such arguments are shared by Michel Albert and Fleckenstein in their respective books, Capitalism Vs Capitalism (1993) and Greenspan’s Bubbles (2008). Using real life personal examples of people who have overcome the burden of debt through following the advice offered by former Wall-Streeter Joe Dominguez, the book serves as an inspiring and motivating force for those struggling with life in the rat race.

Prologue:-

This section brings up such philosophical questions as ‘what is fulfilment?’ and why are so few in America content with their lot? The authors argue that conspicuous consumption has us on a hamster wheel; the more material possessions we acquire the more in debt we become. Interestingly enough, the dictionary defines ‘consumption’ as ‘destroy, squander, use up’ and this is, according to the writers, exactly what materialistic society has done. Littered with hard hitting facts to support their argument (90% of all divorces are caused by money and 48% of 4,126 male executives saw their lives as ‘empty and meaningless’), this section suggests that the escape route is close when we adopt a Financial Integrity (FI) mentality. This mentality is achieved by “learning the true impact of your earning and spending. It is knowing what is enough money and material goods to keep you at the peak of fulfilment”.

Standout quote:-

“At some point in the last forty years, conditions began to change. For many people, material possessions went from fulfilling needs to enhancing comfort to facilitating luxury-and even beyond to excess”.

Part one of this review will comprise of chapters 1-3 (The Money Trap, Money Ain’t What it used to Be and Where Is It All Going?), part two consists of The Nature of Fulfilment, Seeing Progress and The American Dream. The last part includes For Love or Money, The Crossover Point and the Epilogue. The review has been constructed in this way to make it more concise and quicker to read. After all, time is money J

Part one:-

This section asserts that we aren’t making a living but rather a dying because our work becomes our life. The writers highlight that our worth as a human being is judged by human doing (our work). In addition, the book states the argument that in America, saving has become unpatriotic and highlights the devious tactics of the advertising companies; “by the time an average teenager receives his or her high-school diploma, s/he has been exposed to as many as 100,000 ads”.

All of these have contributed to unfulfilling lives filled with clutter and no savings to show for 20 plus years of hard work. The authors also argue that at a certain point, no matter what else we acquire, our peak fulfilment is never hit again and our enjoyment from such material possessions drops. This introduces the theory of the ‘Fulfilment Curve’ and offers advice on how to be fulfilled on things that one would have normally discarded as ‘silly’ because they weren’t expensive or offered social status. The advice is common sense, however, as entrepreneur Theo Paphitis points out “common sense isn’t common”. Readers are encouraged to total up every cent of their money that comes into their lives daily and report on what they spend it on. The point of such an exercise is to turn money-phobes into money-lovers by encouraging people to become more aware of how much money they actually have and what they trade their life energy (time) for.

Standout quote:-

“For so many working people there seems to be no real choice between their money and their lives. What they do for money dominates their waking hours, and life is what can be fit into the scant remaining time”.

Part two:-

This meatier section of the book emphasises the importance of fulfilment in our lives and how it isn’t congruent with merely acquiring money through work that one doesn’t enjoy; “to have fulfilment in the larger sense, you need to have a sense of purpose, a dream of what a good life might be”. With overtones extremely similar to J.Paul Getty and Mr Kiyosaki, the authors make it clear that money should merely be a tool to enhance your enjoyment on the short time we have on earth. The writers suggest that giving to help others will lead you to receive in abundance; which brings up the idea of Karma as principle to abide by.

More interestingly enough, this section discusses the etymology of the word ‘frugal’ and tells us how congruent it is with achieving a fulfilling life. “Frugal shares a Latin root with frug (meaning virtue), frux (meaning fruit or value) and frui (meaning to enjoy or have use of)…Frugality is enjoying the virtue of getting good value for every minute of your life energy and from everything you have the use of”. Our notion of ‘frugal’ has negative connotations, one of being a miser and penny pincher. However, this isn’t what ‘frugality’ actually means and the writers highlight that this grave misconception of this lifestyle has contributed to us being in debt.

It is profound to note that there isn’t a word in the English dictionary to sum up a frugal mentality-of using something wisely and maximising its use and your enjoyment from it. However, there is in Spanish; aprovechar; which is reflected by noting how the lifestyle in Spain and other Romance countries contrasts so harshly with the Anglo-Saxon mindset of ‘more is better and it’s never enough’.

Part three:-

This section touches on the importance of a positive attitude, “while economic realities may at times be harsh, it is also the nature of the human mind to make real the thoughts and beliefs that we hold” in one’s exploration for more enjoyable ways to make a living. The value of goal setting is also briefly mentioned.

In later pages, the Crossover Point is discussed; which is when one can live off monthly investment income generated by years of a frugal but fulfilling lifestyle. The importance in celebrating one’s move toward Financial Independence is considered crucial by the writers because, they argue, it further encourages and motivates. “Celebrate…for you have dedicated yourself to replacing financial fictions with financial facts, challenging many old beliefs about yourself, your money and your life”.

Fundamentals of investment strategy are raised and ‘life changing’ questions are posed to the reader:

“What have you got to show for all the money you have earned in your life”, and “How much are you trading your life energy (time) for?” The focus of the last question is to force the reader to think about how much s/he is really trading his/her time for? Transport and food costs must be taken into account as must be entertainment costs with the purpose of re-winding from the stress of work. If one breaks it down, one can conclude that the vast majority of even educated high powered white collar workers are underpaid and struggling financially. The book hits home that it isn’t how much money one makes. Rather, it is what we do with the money.

End Notes:-

This book was a fantastic and an entertaining read. It keeps the reader engaged by using motivating real life examples of people who have been thousands of dollars in debt and, through adopting a financial independent mentality and asking tough questions, have completely changed their lives and become happier and more fulfilled as a result. Don’t just take my word for it. Oprah Winfrey says “this is a wonderful book. It really can change your life”. Respected papers such as the Los Angeles Times also sing its praises, “One of the ten best business books of the year…the seminal guide to the new morality of personal money management”.

Through changing our concept of money, we can lead more fulfilling lives. When I speak to my friends who have travelled to less economically developed countries, they always say to me something along the lines of “although they are dirt poor, they are so, so, so much happier than we in Britain are”. Happiness, as other esteemed authors and successful business people have pointed out, is merely a state of mind. And with this, we can live out of the materialistic illusion that leads people ever closer to the rat race.

Andy Hitchings

How To Be Rich

Title: How to Be Rich

Author: J.Paul Getty

Publisher: Jove (1986)

BOOKS DIGEST SUMMARY:

This triumph is an authoritative voice on life as an entrepreneur. The author, now deceased multi billionaire oil magnate J.Paul Getty, focuses on the difficulties in the world of business that an entrepreneur must overcome to achieve great success. Using real life and personal examples, J.Paul Getty weaves beautiful and memorable stories of entrepreneurial spirit in the face of adversity amongst a wealth of sound advice from someone who has been there and done that. An absolute read for anyone who aspires to great things. Encouraging, touching and inspiring are but three words to sum up this book and also the life of a great man who dared to achieve more than mediocrity.

• Preface :- The importance of being rich as opposed to getting rich

The preface is an important chapter to read because it helps to lay down the foundations for the rest of the book. And this particular preface was especially profound for it challenges the reader to change his or her conceptualisation of money. The preface argues that business people and employees are too focused on getting rich and living a life of conspicuous consumption. J.Paul Getty argues that true wealth is merely a state of mind and that true riches should rather be associated with character instead of material possessions.

The preface also exposes the fallacy of the ‘get rich quick’ mentality and highlights that there are no secrets or magic tricks that can make a business person an overnight meteoric success. Equally profound, J.Paul Getty makes an association between true riches and helping others by improving the living standards of all through entrepreneurial activity.

Standout quote:

“After all, ‘richness’ is at least as much a matter of character, of philosophy, outlook and attitude, as it is of money. The ‘millionaire mentality’ is not-and in this day and age, cannot be-merely an accumulative mentality”- page vii

Part one:-

The primary section discussed the crucial importance of interpersonal skills. The author recounts on his experience as a wildcatter (an independent oil producer) in the 1920s managing a team of workers. Instead of wearing a suit and drinking hot chocolate in a warm office, Mr Getty was out in the fields with his men most of the time. This is significant because “the men felt they were partners with the boss in a mutual effort, rather than merely employees of some corporation run by executives”.

The theme of treating your workers with kindness, fairness and respect is bought up again when debating the prevailing attitude towards labour in American industry during the 1920 boom years. The author is horrified by the laissez-faire attitude taken by many an executive towards the well-being of labour and ruthlessness shown towards Labour Unions. Mr Getty eloquently argues that for health of the American free-enterprise economy to continue labour must be paid their fair worth. After all, without a prosperous working class “there can no mass-markets and no mass sales for merchants or manufacturers”.

Repelled by the short sightedness of executives, as shown by their attitude and treatment towards labour, Mr Getty also condemns in equal measure the pale mediocrity that is accepted by society. The author laments that “the Millionaire Mindset is rarely found” and highlights that the brightest students out of the top business schools are, without such a mentality, merely “over glorified clerks”. Mr Getty defines such a valuable mindset as being “cost conscious and profit minded” and above all, a frame of mind that enables individuals to become motivated enough to achieve set goals.

A final interesting point to raise is that Mr Getty focuses on the value in ‘thinking small’. Such an attitude doesn’t contrast to ‘thinking big’ but rather emphasises the necessity to pay attention to the details.

Standout quote:

“In my opinion…it’s more important to be able to think small-in the sense that he gives meticulous attention to even the smallest details and misses no opportunity to reduce costs in his own or his employer’s business”.

Part two:-

This section elaborates further on the value of treating workers with respect and stresses the importance of gaining results through people. Through this dialogue, the author exposes the myth of the ‘lone entrepreneur’ and firmly states that business is all about networks and therefore, people. How to get the most out of your people is a rare skill that is nurtured and refined through experience. Mr Getty gives the reader a valuable insight into how one can go about achieving this; “I gave no orders or instructions without explanation, meticulously avoided meddling, but was always ready to lend a hand on even the messiest and most difficult tasks”. Such behaviour results in a working with rather than working for philosophy in the company that strengthens the team. The section warns budding executives and entrepreneurs the dangers in the ‘quod licet jovi, non licet bovi’ mentality being adopted in the workplace. The Latin phrase means “what is permitted the gods is not permitted the cattle”.

The latter section discusses the importance in making correct decisions in crisis situations. J.Paul Getty reminisces on tough decisions that he had to make quickly and states the importance of good judgement and imaginative foresight. He makes an interesting analogy by comparing the world of business with chess; in the sense that one must always think three steps ahead.

Standout quote:-

“The successful businessman is the individual who develops the ability to retain his composure in times of stress and in the face of setbacks”.

Part three:-

In this section, Mr Getty laments the state of the education system and lack of cultural awareness amongst the American populous. He attributes the over-specialisation philosophy in education and the pseudo-macho mentality to be contributing factors to such a disease. “Schools and colleges do their not-inconsiderable bit by producing overspecialised graduates whose knowledge and horizons are severely limited”. The author reflects on this phenomenon and concludes that the result will be a more regimented society that is associated more with dictatorship in the future.

Standout quote:-

“ The would be individualist will carefully examine his motives for wanting something and ask himself whether he is making his choice because it is safe, secure, easy”.

Part four:-

In this section, the author shares the sentiments of Robert Kiyosaki by discussing the ‘art of investment’. Fundamental strategies of investing in stocks, real estate and art are touched upon. Again, the author rubbishes the notion of ‘get rich quick schemes’; “ignore the advice of promoters who peddle harebrained formulas for making huge and quick profits on the stock market”.

Standout quote:-

“ I’m seldom eager to sell simply for the sake of making a quick profit”

Part five:-

In the shortest section of the book, part five focuses on three main themes. Firstly, the concept of money, the importance of individuality and the benefit in having values which one abides by. The former touches on points discussed in the preface; that riches shouldn’t be associated with material possessions but rather riches should be tools to further enhance the health of one’s business. J.Paul Getty also highlights that many business people are worth much less than their perceived wealth because the dominant part of their entrepreneurial activity is merely made up of ‘paper empires’.

In the second theme, Mr Getty makes a distinction between those led by fear and those by love. Those individuals who are led by fear tend to conform to what the majority perceive to be the norm. This strangles development in the long run and doesn’t promote a healthy workplace; since everyone is forcing themselves to be people they aren’t. “The majority often has a tendency to plod slowly or to mill around helplessly. The non-conformist businessman who follows his own counsel often reaps fantastic rewards”.

The final theme highlights the crucial importance of having values and purposes for riches. The author makes it clear that earning money for the sake of earning money is indeed a very shallow existence. This doesn’t lead to real happiness because money doesn’t end up with any enduring value and fulfilment is never reached. True wealth comes from being aware that money isn’t an end, rather a means to achieve a more positive goal.

Standout quote:-

“To be truly rich, a man must live by his own values. If those values are not personally meaningful, then no amount of money gained can hide the emptiness of a life without them”.

Andy Hitchings