The One-Week Vacation

If you are like how I was until some years ago--all work and no play, I am sure you must be too overwhelmed by the prospect of this one-week vacation we get between the end of the Pune campaign and the start of Bangalore Winter season.

What to do and, more importantly, what NOT to do?

Should you spend this time for introspection about your recent betting performance? Or should you just forget about racing and give undivided time and attention to the family?

My advice is, obviously, to go for the latter. For an incorrigible race lover and gambler, there is no better time to check your equation with your own family (quite ironic, if you ask me, but quite true!) when there is absolutely no racing anywhere in the country.

It is not necessary that you take them on some grand vacation (you probably are too broke to do that anyway if you have bet recklessly and lost), you can do it even staying at home. Just observe some rules so that the very purpose of this exercise--checking out your family's perceptions about your racing obsession and also taking stock of where this obsession has brought you--proves fruitful.

1. Switch off your cell phone for a week.

That's right, for a complete week. Most racegoers are not aware how much time their racing buddies and connections take out of their daily life. I once checked my mobile phone bill and found that over 70% of all calls were to or from racing folks, and more than 90% of the talk time was spent on those conversations! I tried to rationalize and justify it to my wife saying that 100% of my income is from racing, but in my heart I knew that was a hollow argument. You may have even less reason to do that if your racing is not earning you any money or in fact charging you for maintaining it as a hobby.

2. Use the week to "re-discover" your family.

I once visited a racing acquaintance who introduced his family to me. "This is my son Ryan," he pointed to a child, "he is studying in the 3rd standard." Master Ryan shot up with an interjection, "Dad, I am in the 4th!" Ironically, Ryan was his only child. The point I want to make is please don't underestimate the power of horse racing as an obsession. This week could be your chance to really "get to know" your own family, their current states of mind, their present likes and dislikes (your racing is sure going to be one of the dislikes, I can guarantee).

3. Run a health check on day 1, and make some serious resolutions.

You don't need to visit a doctor to run a health check. Just run up two flights of stairs, there is no cheaper stress test than that. If you just breathe hard and your heartbeats return to normal within 3 minutes, you must be fine. But if you are gasping for breath or having some form of angina (chest pain), it's time to investigate it fully. If all is well, you can still add a good routine to your mornings during this week if you are not already doing it. Start doing Ramdev Baba's Pranayam and continue, WITHOUT BREAK, for a week. Chances are you will find compelling reasons to make it a daily habit.

4. Devote half hour every day to your current financial scene.

By this I don't mean prepare a balance sheet. Just think hard (and truthfully!) about these seven questions, taking up one every day. 
a) Are you putting aside at least 10% of your salary/monthly income EVERY MONTH as savings? 
b) Are you budgeting effectively to live within the balance 90%? 
c) Are you putting a decent part of your accumulated savings in investments (a small part of this can even be kept aside for racing if you are a surefire winner) to earn more from them? 
d) When you bet, do you make sure you are NOT betting out of impulse or without proper study? 
e) Do you own your home? If not, what is your plan to be a home-owner? 
f) If you have already put your investments in place, are you sure they will ensure a decent future income? If not, how can you change their structure? 
g) Can you increase your ability to earn more income? In what way? 

For more guidance on how to take charge of your financial destiny, read The Richest Man In Babylon, a classic bestseller that can change your life forever.

With best wishes for a fruitful vacation,

Prakash Gosavi