No Bonus: Make your own bonus

No Bonus: Make your own bonus
Published: 10 January 2018
It's that time of the year when we do a re-run as a reminder on what we have to do as a people as surely as things seem this year there might not be any bonuses coming given the economic turnaround could be in earnest this year which has elections in it.

A man is defined by how he receives bad news because we all do receive bad news once in a while.

MoB Capital has done some calculations that involve a little bit of sacrifice for one to create a bonus for themselves this year and the next.

For every income that you get, put 10 percent aside until the end of the year.

From all other informal incomes, put aside 20-30 percent of that income until the end of year.

If you start this month of January and assuming no other income comes your way you will get a bonus of 90 percent of your income.

For example, for $100 you will pay yourself a bonus of $130 by year end.

All this is achieved by setting aside $10 from your monthly income.

Easy, right!

You can do it on a weekly basis at $2.50, which is a feasible challenge.

If you have other informal incomes, then that is even better.

Just stay disciplined and stick to the plan.

The following year you can adjust downwards your percentages to eight percent per month income from formal income and 15-25 percent on informal incomes.

After this training, you will now be in a position to understand the art of savings so when bonuses are finally re-introduced, it will be smooth sailing for you and we can then move on to wealth creation for the long haul.

And please do not say it cannot be done as there are so many areas one can cut from to save.

The word "cannot" should be replaced by "how".

That is how I make it happen.

Where there is a will, definitely a way will be found.

Too much unnecessary expenditure that one always justifies without putting so much thought to, needs cutting.

The process can be painful initially but rewarding in the end.

With discipline, budgeting, positive attitude this is the principle to achieve a greater financial well-being.

Just like good health and good physical body, if one needs to achieve a good financial well-being, you need to work for it.

Like any lifestyle, financial well-being should be systematic and consistent.

Only you and you alone, can make it happen.

Once you achieve your goals, the feeling is great and addictive.

Learn the tricks and enjoy your life while others are complaining about circumstances that you can simply adjust to without changing your lifestyle as you wait for fortunes to be in your favour once again.

Nothing is impossible.

These secrets are what those financially secure individuals are doing day in day out and we at MoB Capital, are giving you these secrets for free.

The rich are paying a fortune for such information as they know what it really means to have financial freedom in abundance.

The ball is in your court as the information is for free.

Blessed are those that get informed for free for they shall start with no costs at all in their quest to financially emancipate themselves and their communities.

Once you get paid your bonus at least it's a bonus above self made bonus.

Trim excess fat: What to cut to be able to budget accordingly. Your beer, airtime usage, social media, travelling, unnecessary clothing, African diet is healthy and cost effective, your hair products and so forth.

Sell excess stuff: Dispose of excess things not required to generate liquidity for possible deals and mere clearing glut at the home. It frees up space, breathes in fresh air and brings an informal income of which you can save 20 percent towards your bonus.

Volunteering: Volunteer your time for a better cause to charitable organisations or needy members of the community. Do something for the community that does not involve getting paid for it.

Donations: Do good. Donate some of your possessions to the marginalised. It could be clothing or food to the less privileged. The more you give the more chances of also receiving tenfold. Donate wholeheartedly.

This is how MoB Capital looks at the bonus issue holistically not just dollars and cents so that our communities can have a fulfilling complete life and lifestyle with meaning and purpose.

Wish you all the best on growing your own cake.


Morris Mpala is the managing director of MoB Capital Limited, a micro-finance institution with footprint across the country.
- chronicle
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