I didn't expect to still be talking about income this week, but lately, it's been on my mind because I feel it's time for a major financial upgrade in my life.

Today, my friends and I had a three-hour-long discussion about scaling up our finances. We each analyzed our dream incomes and we now have clear goals and directions for achieving them. It's funny how we initially thought of them as huge figures, but after careful analysis, we realized they are quite achievable.

Let's take Halima as an example. She aims to make 10 million Naira in the next one year to buy a car and rent a comfortable apartment. We tried to dissuade her from the car, but she wants what she wants. Who are we to invalidate her wants?

To achieve her goal, Halima would need to make about N850,000 every month for the next 12 months. Considering her current salary... well, she now realizes something needs to change. — The first benefit of analyzing your dream income is the realization that you need to take action.

We're currently brainstorming business options that can help her reach that point in 12 months. We're not delusional enough to think that everything will go as perfectly as planned, but I know from experience that making calculated efforts does yield remarkable results.

Last year, I made calculated efforts to increase my income fivefold in one year. I didn't quite achieve that, but I did double it, which wouldn't have happened if I hadn't aimed for a fivefold increase.

You might wonder, "Why not just set a very realistic goal to double your income and work towards that instead?" Here's why: No process is ever 100% efficient. We have to consider factors like this shit economy and other uncertainties.

The only thing we can be certain of is our own effort. So, with everything being unequal, if you set a very convenient goal to double your income in one year, you'll likely only achieve a 25% increase. — The idea is to set a large, yet realistic financial goal, break it down into monthly or weekly income targets, and determine what you need to do on a monthly or weekly basis to reach that goal.

If you achieve your fivefold goal even up to 25%, that's a significant boost (double) in income.

I'm not turning into a finance coach, but finances are important in everyone's life, and I've been contemplating mine a lot lately.

Honestly, I want to own a yacht, travel the world, and dine at 5-star restaurants in Singapore. Unfortunately, my current income can barely even flex me in Cotonou. So, it's important to make these kinds of analyses if we are ever going to achieve the lifestyle we desire.

I’d like to know your thoughts, but instead of replying to this email, please leave a comment on the web version of this email. You can find it here.