Tag Archives: cost of living

Surviving In a Time of Scarcity

Living in a developing country such as Jamaica has its share of challenges which can often lead to disruption and displeasure for its citizens. One perennial problem that perturbs us whenever there is a prolonged drought is the scarcity of piped water for everyday use.

It seems that every year we experience progressively worse conditions with the country’s declining rainfall levels. Whether we are suffering from the effects of global warming or the removal of trees needed to boost the watershed areas, something is drastically wrong in the ‘land of wood and water.’

Money down the drain

Many households and businesses are crippled by the lack of this precious commodity. Some of the issues affecting our productivity include: employees who are late or absent from work due to their search for water; lost revenue for businesses that depend on water; and money diverted into purchasing potable water.

While I acknowledge that other countries are also suffering from the results of climate change, I question our national response to the water crisis. Praying for rain may be our standard answer, but I would like to see more permanent solutions to address our dwindling water resources. Continue reading Surviving In a Time of Scarcity

Budgeting Is A Must

Last week we expanded on the concepts in our 2012 Money Manifesto and explained why focusing on your financial education is the most important investment you could make for your future.

If you’re searching to find answers to your money problems, I can assure you that you will find the solutions in books, magazines, CDs, DVDs and Internet sites that deal with financial matters.

The first money success principle that you need to learn and apply is budgeting. Our Money Manifesto states: that “I will no longer be clueless about what I spend money on, as I will take the time to document all the expenses that I expect to come during the year. I will write down all my income sources and then calculate if my earnings can cover my expenses.”

There are two main reasons why budgeting is an indispensable money management tool. Continue reading Budgeting Is A Must