Tag Archives: overspending

Jamaican Style Money Guide: Don’t Hang Yuh Cap Whey Yuh Cyaan Reach

If you would like to become smarter with money, you can gain tremendous insight by exploring the wisdom in our beloved Jamaican proverbs. As the saying goes, “A word to the wise is sufficient;” and a few astute adages from our rich heritage can help you to increase your financial intelligence.

One smart saying that I have heard many Jamaican old-timers use is, “Don’t hang yuh cap whey yuh cyaan reach.” In Standard English the proverb translates to, “Don’t hang your hat higher than you can reach;” and it cautions persons not to expend more than they can afford.

The concept of ‘living within your means’ is a basic principle to financial success, yet it’s one of the money rules that is easiest to break. Many people have no idea what their ‘means’ really is, so they often find it difficult to remain within the acceptable limits whenever they spend their money. Continue reading Jamaican Style Money Guide: Don’t Hang Yuh Cap Whey Yuh Cyaan Reach

Financial Priorities

A Guyanese colleague shared with me her concern about the financial practices of many Jamaicans with whom she interacted. After spending a few years managing a project in our country, she observed that the attitudes towards saving, spending and debt were very different in the two nations.

One major point of divergence, she noted, was that most Guyanese people were very focused on saving to buy a home as their first priority. The consultant remarked that you would hardly see persons in her country driving a car if they did not already own a piece of property.

Another point of difference was that most Guyanese were very embarrassed about having debt that they could not afford to pay. Indebtedness was taboo and there were even cases of persons who attempted suicide because they were so devastated about their unpaid financial obligations. Continue reading Financial Priorities

‘Twas The Day After Christmas

‘Twas the day after Christmas, when all through the house,
Not a person was stirring, not even my spouse;
Scattered all ‘round the tree were torn paper and bows;
Discarded wrapping for the gifts, from toys to clothes.

My loved ones were nestled all snugly in their beds,
While visions of nice presents danced in their heads;
For me, sweet sleep was elusive throughout the night,
And day’s break only brought my fears into the light.

I had spared no expense in giving my family the best;
But now, reality hit like piercing steel to my chest;
With all the bills and debts set to meet me next week,
My financial future was looking desperate and bleak.

My twist on Clement Clarke Moore’s classic Christmas poem, A Visit from St. Nicholas, reflects the situation that many people may face after the excesses of the holiday season. Once the frenzied pre-Christmas splurging is over, they soon begin to regret some of the financial choices they made. Continue reading ‘Twas The Day After Christmas

Pride Goes Before a Financial Fall

“Pride goes before destruction, a haughty spirit before a fall.” – Proverbs 16:18 (NIV)

 Act 1: Pride – a high opinion of your own importance

Jonathan, a 34-year-old accountant, makes an average income and lives in an affordable rented one-bedroom midtown flat. He inherited a 2001 Toyota from his father, which performs reliably without needing major repairs. However, despite his reasonably comfortable existence, Jonathan is very dissatisfied with his present position.

Many of Jonathan’s former schoolmates have advanced rapidly up the corporate ladder, and now hold major positions in banking and product distribution companies. As the valedictorian for his graduating year at high school, Jonathan is painfully aware that most of his high-income colleagues were less-than-stellar achievers in school.

Every time they get together, Jonathan compares himself with his friends and thinks that he comes up short in every area. As they discuss the latest high-tech features of their high-end SUVs and share details of their recent jaunts to luxury resorts, he resents the fact that his income does not allow him to live the lifestyle that he thinks he really deserves. Continue reading Pride Goes Before a Financial Fall