07 June 2016

Why MPs need the money funnel

The most useful item that every Member of Parliament and Ugandan voter must have is a funnel. The minor reason why the Members of Parliament need the funnel is since they are acquiring fuel guzzling cars it is wise to always have a funnel to use to refuel the car when it runs out of fuel on some back road in a rural constituency or a blocked city road when a foreign head of state is visiting.

I am coming to the major reason for the funnel, bear with me for a little while. Now a funnel is designed so that one side is wide and another is narrow. Imagine a situation when the Member of Parliament’s car is out of fuel, and the driver or assistant holds the funnel with the wider side facing down in the attempt to refuel the car. What will happen to the fuel? Only a little fuel will enter the tank while most will be wasted.

Just like the funnel that has two openings, our pockets and purses also have two sides; one side lets in the money, that is the income side. The other side lets out the money, that is the expense side. A person’s financial wellbeing greatly depends on how they handle their money funnel.

Since a funnel is held with the wide side up and the narrow side down, similarly, the money funnel should be held in such a way that the income side is larger than the expense side. When the expense side is wider than the income side, then the funnel is upside down.
The money funnel tells us to earn more and spend less. There is a place for increasing income whether through business or investments. The effort to increase income must however be accompanied with the ability to keep expenses as low as possible.

James Abola is the team leader of Akamai Global, a business and finance consulting firm.

Email: james.abola@akamaiglobal.co.uk


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