Be, Do and Have More

“If you work hard and smart you may finally reach the top - #1! And then what? If you want to stay there, you've got to work even harder and smarter! Give it your all. Give it your best. Give it 120%,” says Ron Kaufman, an internationally acclaimed customer service training educator and motivator, author of bestselling series ‘UP Your Service!’ and founder of Up Your Service! College.

Ron coaches business-oriented individuals as he relates his experience at the Singapore Airlines Cabin Crew Training Centre…

A visitor asked Singapore Airlines’ Senior Vice President Sim Kay Wee, “How does Singapore Airlines stay on top all these years? And how do you plan to keep the lead while other airlines work so hard to beat you?”

Sim Kay Wee answered clearly, “100% is not enough. When you reach #1, you need 120%. Here's why… if you fly on a mediocre airline, your service expectation may be only 50%. If the cabin crew is in a better mood, they may actually deliver 65%. Then what is your opinion of the service? It's up 15%!”

“Now if you know Singapore Airlines is #1, what is your expectation of the service? 110%! And if our cabin crew delivers service only at the 100% level, what is your opinion of the service? It's down 10%! This is the challenge of being #1. If you are in the lead and want to stay there, 100% is not enough. You need every member of the team to give 120%!”

The lesson of the story is simple. Do not be afraid to aim further and exceed the projected mark. Never underestimate your strengths and capabilities. You can always be, do and have more!

To receive more motivational stories and valuable lessons, attend Ariva!’s seminar-workshops from September to December 2009. VIEW AD

Budgeting your way into financial success

“How do you spend your hard-earned cash?” is a question that should be taken seriously. Most of us can be careless when it comes to spending money. We use it up without thinking only to realize we don’t have enough to bring us to the next payday. There are moments that we try to be thrifty only to lose our control when sale season comes. And the solution that we think of – swiping that credit card!

How many times have we heard of the statement, “Live within your means.”? It’s not that people do not want to follow this golden rule; sometimes, they simply don’t know how. Sheila Ching, a registered financial planner and senior financial consultant for AXA Philippines stresses the importance of keeping your expenses in sync with your earnings, so you won’t find yourself always waiting for the next payday.

Create a budget. A budget plan will be your starting point to manage your income. To make a budget, Sheila advises to list down all expected and probable expenses for the month and categorize them based on your expense type such as household utilities, mortgage fees, entertainment, etc. Allocate your money to each item in the category then subtract your total expenses from your total income. An excel spreadsheet can make doing this easy.

Identify your spending habit. Take time to track where your money is going. Record your daily expenses. Do you really need to spend on Starbucks coffee every day? Do you really have to ride a cab? Think about it. You might realize you’re spending too much on things that don’t really matter.

Plan your purchases. Plan your purchases so you can better manage your cash outflow. Sheila’s suggestion is to know the estimate amount of the thing you wish to buy and plan when you intend to buy it. If for instance you intend to buy something that costs around 20,000 pesos, four months from now, it means you have to raise 5,000 pesos a month. If you think you can’t, you may consider delaying the gratification. Wants can wait, and it is better to wait than get it instantly by swiping your credit card only to realize in the end that you can’t afford to pay the price.

Use your credit card wisely. Sheila recommends using credit card only for emergency purpose or when you are certain that you have the money when the bill arrives. This is to avoid paying the interest which goes as much as 3.5% a month. Take note that the interest accumulates over time when you fail to pay in full.

Save for the rainy day. When payday comes, before you start making any purchase, take away a portion of your salary – at least 10% - and save it as your emergency fund. This is to be used when something unexpected arises such as when you lose a job or get hospitalized. If you’re having a hard time, start with 5% and increase it when you get a salary raise. Build an emergency fun that is equivalent to at least 3 times of your monthly salary. When you have saved enough, Sheila suggests putting a portion of your emergency fund in an ATM account, a portion in checking account and a portion in time deposit. WILLETH LAUS

For financial consultations, contact Sheila Ching here.