Small Wins
Small wins and Discipline Lead to Big Wins
Filed Under (Uncategorized) by Arthur Kaliisa on 26-03-2007
I guess this is the most widely sought out answer by non finance professionals, scholars and finance professionals. It’s therefore not surprising that large sums of monies are spent today in advertising targeted towards impulse buyers.
Getting your finances inorder is not a matter of mention alone but takes proper planning and commitement. Early this year we purposed to put our financial matters right. We made a commitement put it in writing signed off by both of us. As the first quarter of the year is coming to a close, the results are really quiet shocking and reveal that the task ahead of as is very evident. The economics today especially as regards disposable incomes is evidently becoming a challenge. With every increase in incomes comes a proportionally high demand of related needs and wants. One reader responding to my previous letter “Work hard and learn to Save” raised this question, what percentages should be expensed on each expense item? We all ask this question everyday of our lifes. The fact is there is no definite answer as this varies widely from individual to individual considering income and expense patterns. Well, I read and thought through this question and came up with my own percentages ( This is not gospel truth). Please visit http://smallwins.blog.com about the same. A spreadsheet about the same is posted on the link to guide interested persons about my findings. My findings were both surprising and discouraging. The numbers on avoidable expenses previously incurred where disheartening. Well atleast I had my financials in perspective. The real question was how do I work towards improving my current position? One guru once lamented that a “house” without a plan and/or budget is like a blind man without a walking stick. Plans are not meant for only corporates but come in handy also for household receipts and disbursements. Well, I am not a guru myself. I am still struggling in this department irrespective of whether I hold specialized knowledge in financial management. My goal this year as I review my financials of this first quarter is to meet the goals I set in my new years resolution. The question you should probably be asking yourself is how close are you to meeting your new years resolution? Arthur Kaliisahttp://smallwins.blog.com
Filed Under (Uncategorized) by Arthur Kaliisa on 26-03-2007
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LIVING EXPENSES |
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12 |
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Amount Paid Monthly |
Amount Paid Other Than Monthly |
Total Annual Amount |
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Amount Paid Monthly |
Amount Paid Other Than Monthly |
Total Annual Amount |
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12.00 |
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| Housing |
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Medical Expenses |
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- |
| Mortgage/Rent |
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130,000 |
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1,560,000 |
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Insurance |
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- |
| Insurance |
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- |
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Doctors |
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15,000 |
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180,000 |
| Property Taxes |
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- |
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Dentists |
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- |
| Electricity |
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60,000 |
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720,000 |
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Drugs |
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- |
| Water |
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15,000 |
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180,000 |
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Total |
15,000 |
- |
180,000 |
| Sanitation |
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- |
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Insurance |
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| Telephone |
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13,000 |
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156,000 |
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Life |
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- |
| Cleaning |
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- |
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Disability |
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- |
| Repairs/Maint |
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- |
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Other |
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7,000 |
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84,000 |
| Supplies |
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- |
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Total |
7,000 |
- |
84,000 |
| Other |
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Total |
218,000 |
- |
2,616,000 |
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Children |
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| Food |
Total |
70,000 |
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840,000 |
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School lunches |
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- |
| Clothing |
Total |
28,000 |
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336,000 |
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Allowances |
14,000 |
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168,000 |
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Tuition |
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- |
| Transportation |
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Lessons |
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- |
| Insurance |
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Other |
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- |
| Gas and oil |
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Total |
14,000 |
- |
168,000 |
| Repairs/Maint |
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| Parking |
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Gifts |
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| Other |
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100,000 |
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1,200,000 |
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Christmas |
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30,000 |
30,000 |
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Total |
100,000 |
- |
1,200,000 |
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Birthdays |
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30,000 |
30,000 |
| Entertainment/Recreation |
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Anniversary |
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30,000 |
30,000 |
| Eating Out |
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10,000 |
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120,000 |
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Other |
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| Baby-sitters |
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Total |
- |
90,000 |
90,000 |
| Mags/Newspapers |
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| Vacarion |
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Miscellaneous |
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| Clubs/Activities |
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Toiletries |
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10,000 |
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120,000 |
| Other |
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Arthur: Misc |
30,000 |
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360,000 |
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Total |
10,000 |
- |
120,000 |
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Carol: Misc |
30,000 |
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360,000 |
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Cleaning/Laundry |
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- |
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Beauty/Barber |
30,000 |
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360,000 |
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Other |
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- |
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Other |
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- |
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Total |
100,000 |
- |
1,200,000 |
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Total Living Expenses |
562,000 |
90,000 |
6,834,000 |
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Filed Under (Uncategorized) by Arthur Kaliisa on 26-03-2007
| PERCENTAGE GUIDE FOR FAMILY INCOME |
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AK |
CK |
Total |
| Gross Income |
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UGX 623,500 |
UGX 250,000 |
UGX 873,500 |
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| Less: Tithe |
10% |
UGX 62,350 |
UGX 25,000 |
UGX 87,350 |
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| Taxes and Social Security |
15% |
UGX 93,525 |
UGX 0 |
UGX 93,525 |
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| Debt |
0% |
UGX 0 |
UGX 0 |
UGX 0 |
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| Total Priority Expenses |
25% |
UGX 155,875 |
UGX 25,000 |
UGX 180,875 |
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| Net Spendable Income |
75% |
UGX 467,625 |
UGX 225,000 |
UGX 692,625 |
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| Living Expenses -Housing |
26% |
UGX 121,583 |
UGX 58,500 |
UGX 180,083 |
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| Food |
15% |
UGX 70,144 |
UGX 33,750 |
UGX 103,894 |
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| Clothing |
4% |
UGX 18,705 |
UGX 9,000 |
UGX 27,705 |
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| Transportation |
10% |
UGX 46,763 |
UGX 22,500 |
UGX 69,263 |
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| Entertainment/Recreation |
4% |
UGX 4,863 |
UGX 9,000 |
UGX 13,863 |
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| Medical |
2% |
UGX 9,353 |
UGX 4,500 |
UGX 13,853 |
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| Insurance |
1% |
UGX 4,676 |
UGX 2,250 |
UGX 6,926 |
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| Children |
2% |
UGX 9,353 |
UGX 4,500 |
UGX 13,853 |
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| Gifts |
1% |
UGX 4,676 |
UGX 2,250 |
UGX 6,926 |
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| Miscellaneous |
4% |
UGX 18,705 |
UGX 9,000 |
UGX 27,705 |
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| Total Living Expenses |
69% |
UGX 308,820 |
UGX 155,250 |
UGX 464,070 |
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| Margin |
4% |
UGX 158,805 |
UGX 69,750 |
UGX 228,555 |
Filed Under (Uncategorized) by Arthur Kaliisa on 26-03-2007
We commit to each other and to our Lord and Savior to do the following:
- To put our financial house in order.
- To communicate, to record our goals, to reconcile our priorities, and to agree upon our differing roles.
- To formalize a training plan by 31 March 2007
___________________________________________________SIGNATURE DATE ____________________________________________________SIGNATURE DATE
Filed Under (Uncategorized) by Arthur Kaliisa on 13-03-2007
I stood there at the entrance of the ward 3A looking at him as he struggled to turn our direction, he afforded a smile but I could see it was only meant to comfort us. He signaled us to move closer to his side. As I bent low to listen to what he was trying to say to me I saw that his face revealed that he had been in a lot of pain lately. I left the hospital feeling somewhat helpless and confused, he had said something to me that disturbed my mind quite a lot. The future seemed faint after this visit. The struggle only lasted until midnight, at the age of 43 years he had accomplished quite a lot. Mr.Molson Ammon Kaliisa was born on March 15,1947,North Western Uganda, Masindi District. He was raised from a humble background, and attended his primary education in a rural area. He was admitted to secondary school at Kabalega Secondary School in the township of Masindi District for his Cambridge Certificate of Education for both the Ordinary Level and Advanced levels respectively. He had narrated his youth to us like he was reading from a pamphlet. His experiences were still as fresh as ever inscribed in his mind like notes made in a journal, recalling them seemed so painful .He kept swearing to make a difference for his children and never letting them experience his ordeal. His admission to Dar-Es-Salaam University in Tanzania after his Advanced Level education came as no surprise to him but as a turn off. He had expected to join Makerere University in Uganda a widely renown University together with his best friend who was admitted at the University. During his time at Dar-Es-Salaam University, he kept visiting his best friend Mr.J.B.Odongo and would spend his vacation with his brother in Tororo District the Eastern part of Uganda were he was working as a prison warden of the Uganda Prisons Force. Sometimes he would head straight to his friend’s home area in the northern district of Uganda, Gulu District. He graduated with a B.A (Hon’s), Upper Second in Management and Economics in June 1973. The appointment as an Economist the same year with the Ministry of Planning and Economic Development in Uganda, was made immediately soon after he completed his studies and worked in that capacity until November 1978. During that period he also studied a Post-Graduate Diploma in Project Analysis and Planning from the Institute of Social Studies, The Hague, Netherlands with government of Uganda sponsorship. In November 1978, he was appointed Senior Economist in the Ministry of Culture and community Development, Uganda and worked in that capacity until 1981. Later in 1981 he was again appointed a Senior Economist in another ministry, the Ministry of Internal Affairs and worked there until September 1985.That year 1985 was appointed Principal Economist with the Ministry of Co-operatives and Marketing. Around the same period in June 1988,studied for a Post-Graduate Certificate in Food and Agricultural Policy Analysis from Harvard University, USA. Also studied and attended a Post-Graduate Certificate in Project Planning and Analysis from the University of Bradford, UK in March 1985. Pursed a Post-Graduate Certificate in Data-Base and analytical systems for Decision Making in Agriculture from the Economics Institute, Colorado State, USA in August 1987.His studies were sponsored by the government of Uganda. Also attended seminars in Nairobi and Ibadan on Project Planning and Agriculture Development. In 1989 he worked as an International Consultant for two months as Food Reserve Economist for Intergovernmental Authority on Drought and Development (IGADD) in Djibouti. The purpose was to study the food sector and more particularly cereals of Uganda and produce a country paper for Uganda. The study included both technical and economic issues in the food sector in Uganda especially on village level. It also involved identification of projects to help alleviate insecurity in food supplies. He accepted an appointment in November 1989,as project co-ordinator for World Bank Project in the Ministry of Co-operatives and marketing. The project consisted of six huge sub-programmes, together with four other officials was appointed to oversee implementation of Phase II of the same project and policy matters. The president of Uganda, Mr.Yoweri Museveni appointed him as Ag.Chief Planning Economist in the Ministry of Co-operatives and Marketing in May 1990 and passed away later in January 08,1991 from a long illness. He had said to me “Too much alcohol will kill you” and today I hold on to those very words. I have since looked at him as my mentor and hero for all he achieved. Prepared By: Kaliisa Arthur May 23, 2001
Submitted by: Arthur Kaliisa
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