FIVE YEAR FINANCIAL PLAN
Year 1
Find work or establish a business that gives you a K30 profit everyday. You are not to spend this money until 365 days.
Make sure the job or business you engage in is able to give you a K30 that you can safely put away without struggling.
If you get paid monthly, the best you can do is to count the days of that month and at the monthend just multiply K30 by the days of that month.
K30 * 31 days = K930 a month
Year 2
After you have successfully managed to save a K30 for 365 days which is:
K30 * 365 = K10,950
Your goal is now to establish a business that will be giving you K30 everyday so that you do not get money from your primary source of income that maybe your job or your first business.
With K10,950 you can start something that can give you a K30 everyday or a K930 each month.
Year 3
Expand or start another business that will also be giving you K30 everyday as profit.
Year 4
Do the same
Year 5
Establish another venture that will also be giving you a K30 profit every day.
Year 6
You now have five (5) streams of income, your first source of income and the four (4) that you have established in the last five (5) years.
All things being equal all these four (4) businesses are each supposed to be giving you a K10,950 profit every year.
That is;
K10,950 * 4 = K43,800
With K43,800 every year you can start your way to financial freedom.
With discipline the little money you make can be your gateway out of poverty.
Any plan is better than no plan.
''Take a piece of paper and a pen then look at your resources and create a plan that will take you where you want to be in the time you want to be there. In this post I used K30 because its more doable to a lot of people but based on your resources you can aim for K100 everyday or even more''.
Make a plan that you can faithfully execute and start your way to wealth.
credit: Alidata Academy - all about practical business ideas
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