Small Wins

Small wins and Discipline Lead to Big Wins

What percentage of ones income should be expensed as domestic expenditure?

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

Living Expenses Computation

Filed Under (Uncategorized) by Arthur Kaliisa on 26-03-2007











LIVING EXPENSES 12
Amount Paid Monthly Amount Paid Other Than Monthly Total Annual Amount Amount Paid Monthly Amount Paid Other Than Monthly Total Annual Amount
       12.00
Housing       Medical Expenses                   -  
Mortgage/Rent       130,000    1,560,000 Insurance                   -  
Insurance                 -   Doctors        15,000        180,000
Property Taxes                 -   Dentists                   -  
Electricity         60,000       720,000 Drugs                   -  
Water         15,000       180,000 Total        15,000           -        180,000
Sanitation                 -   Insurance      
Telephone         13,000       156,000 Life                   -  
Cleaning                 -   Disability                   -  
Repairs/Maint                 -   Other          7,000          84,000
Supplies                 -   Total          7,000           -          84,000
Other            
Total       218,000             -    2,616,000 Children      
Food Total         70,000       840,000 School lunches                   -  
Clothing Total         28,000       336,000 Allowances        14,000        168,000
Tuition                   -  
Transportation Lessons                   -  
Insurance       Other                   -  
Gas and oil       Total        14,000           -        168,000
Repairs/Maint      
Parking       Gifts      
Other       100,000    1,200,000 Christmas       30,000        30,000
Total       100,000             -    1,200,000 Birthdays       30,000        30,000
Entertainment/Recreation Anniversary       30,000        30,000
Eating Out         10,000       120,000 Other      
Baby-sitters       Total               -       90,000        90,000
Mags/Newspapers      
Vacarion       Miscellaneous
Clubs/Activities       Toiletries        10,000        120,000
Other       Arthur: Misc        30,000        360,000
Total         10,000             -       120,000 Carol: Misc        30,000        360,000
Cleaning/Laundry                   -  
Beauty/Barber        30,000        360,000
Other                   -  
Other                   -  
Total       100,000           -     1,200,000
Total Living Expenses       562,000     90,000   6,834,000

Percentage Guide For Family Income

Filed Under (Uncategorized) by Arthur Kaliisa on 26-03-2007





PERCENTAGE GUIDE FOR FAMILY INCOME
    AK CK Total
Gross Income   UGX 623,500 UGX 250,000 UGX 873,500
         
Less: Tithe  10% UGX 62,350 UGX 25,000 UGX 87,350
         
Taxes and Social Security  15% UGX 93,525 UGX 0 UGX 93,525
         
Debt  0% UGX 0 UGX 0 UGX 0
         
Total Priority Expenses 25% UGX 155,875 UGX 25,000 UGX 180,875
         
Net Spendable Income 75% UGX 467,625 UGX 225,000 UGX 692,625
         
Living Expenses -Housing 26% UGX 121,583 UGX 58,500 UGX 180,083
         
Food 15% UGX 70,144 UGX 33,750 UGX 103,894
         
Clothing 4% UGX 18,705 UGX 9,000 UGX 27,705
         
Transportation 10% UGX 46,763 UGX 22,500 UGX 69,263
         
Entertainment/Recreation 4% UGX 4,863 UGX 9,000 UGX 13,863
         
Medical 2% UGX 9,353 UGX 4,500 UGX 13,853
         
Insurance 1% UGX 4,676 UGX 2,250 UGX 6,926
         
Children 2% UGX 9,353 UGX 4,500 UGX 13,853
         
Gifts 1% UGX 4,676 UGX 2,250 UGX 6,926
         
Miscellaneous 4% UGX 18,705 UGX 9,000 UGX 27,705
         
Total Living Expenses 69% UGX 308,820 UGX 155,250 UGX 464,070
         
Margin 4% UGX 158,805 UGX 69,750 UGX 228,555

Domestic Financial Commitement Statement

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: 

  1. To put our financial house in order.

 

  1. To communicate, to record our goals, to reconcile our priorities, and to agree upon our differing roles.

 

  1. To formalize a training plan by 31 March 2007

   ___________________________________________________SIGNATURE                                                                DATE  ____________________________________________________SIGNATURE                                                                DATE

Amon Kaliisa My Hero

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