Income and Expenditure

In the mid 2000’s the management of British airways decided to remove one olive from each meal and each drink served across their entire fleet. A single olive doesn’t sound like a lot except when you learn that the decision saved them £600,000.00 pounds the year the change was implemented. I have been motivated by British Airways for as long as I can remember. While the recent troubles at Terminal 5 may not do much for their public relations I choose to look at their history. A history of innovation and change, always looking forward and never ever satisfied, knowing that their business and service can always be better.

FRIDAY NIGHTS; Due to a lack of statistics we have no idea how much money will be spent between 9pm tonight and 6am on Saturday morning. While this is great news for the owners and proprietors of night spots, do you have any idea how much you spend a month? Probably not. Friday nights are great. Don’t get me wrong. The question is what’s your return on investment? Think about Saturday as the new Friday. We spend less, don’t stay out as along and generally have a more controlled time. In business as in life we must get a return every time we spend money so why not take a closer look at where you spend yours and what exactly you get out of it.

EXERCISE; the importance of exercise simply cannot be over emphasized. It cannot. Most members of this group are in 28-35 demographic and living a sedentary lifestyle where we go from bed to car to desk to car to bed!!! As silly as this sounds it’s absolutely true. Not everyone has the gumption or time for the gym. Then start with eating right. Don’t eat after 7pm. Take one week off all fizzy drinks and see how you feel. Don’t smoke until its dark. Little decisions can have the biggest impact in our lives. Try walking for 30 min around your neighbourhood when you get home. Whatever you choose, make a decision to do something about your health. Trust me; you’ll need it all your life!

OUTSIDE INCOME; whatever we do and however much we already earn, we should ideally have more than one source of income. The growth of our stock market (4 billion Naira to 13 TRILLION Naira) in a few short years provides the immediate option and many have made the market a place to go and earn some much needed external cash. There are however other options and more than the amount of money you make it’s the practice of making money that counts. Repetition as with anything else makes us better at what we do, the more we practice making (and losing!) money the better we get at it. Look around you and get involved with a hobby that makes you money. Large or small
,it sharpens the mind and adds to the bottom-line.

SAVINGS; speaking with a friend of mine recently I realised that I don’t actually save money. As crazy as that sounds I’ve always believed so fervently in carpe diem that I worry little about the future. The theory being that money in the bank is not money at all but money invested will shape the future .ABSOLUTELY WRONG! We must save some portion of what we earn, the argument that you cannot save if you have needs is entirely false. You trim those needs and you save some money. Try N1500 a week (the cost of an MTN recharge card) and at the end of the year you’ll have N78, 000. It’s that simple.

QUOTE OF THE WEEK; People often say that motivation doesn’t last. Well neither does bathing…that’s why we recommend it daily. Zig Ziglar

*Looking for PHONE NUMBERS, WEBSITES and ADDRESSES of companies in Nigeria? Text the COMPANY NAME to 33000.E.g. Text VIRGIN NIGERIA to 33000