Tag Archives: Wealth

How Much Is Your Life Worth?

Money Reflections, , , , , , , , ,

As we enter the Easter period, many Jamaicans celebrate the important Christian holiday in which they remember the death and resurrection of Jesus Christ. It is a time for reflection on how the sacrifice that was made thousands of years ago still impacts the lives of many persons today.

Although we may not readily list it as one of the assets on our personal balance sheets, the gift of life is priceless. Despite the challenges and difficulties that may discourage us from time to time, it is indeed a rich blessing to be given another day to experience what life has in store for us.

Does income determine your value?

If you wanted to quantify the value of your life, could you put a price tag on your existence? In order to seek a financial settlement in legal cases that involve wrongful deaths, lawyers often try to calculate how much possible income has been lost from the untimely passing of an individual. Continue reading How Much Is Your Life Worth? →

Money Mission: Become A Money Magnet

Money & Your Mind, Saving, , , , , , , ,

At the beginning of the year, many of us made firm resolutions to make 2012 the best ever. This was going to be the year, we declared, that we finally got our money act together. Reciting our 2012 Money Manifesto pledges, we vowed to make positive changes in 12 areas of our financial life.

If you had made these optimistic declarations to improve your finances, how would you rate your progress three months later? Have you been successful at implementing many of the habits that would allow you to achieve your objectives? Or have you given up on your plans and consoled yourself that next year will be better?

If you’re like most people and have already reneged on your resolutions, don’t despair. Decide to tackle your money problems in the same way you would approach a work or school assignment: assess the issue, research possible solutions, create an action plan and carry out the necessary activities.

Make it your mission to work on a specific money goal each month. Continue reading Money Mission: Become A Money Magnet →

Investment tips from an ancient time

Book Review, Investing, , , , , , , , , , , ,

In today’s technologically driven society, persons looking for advice can readily turn to the Internet to find solutions to almost any problem that they might encounter. When it comes to financial issues, it’s not difficult to search online and quickly find answers to a variety of questions about money.

One of the financial questions foremost on many people’s minds is how to become wealthy by investing. Many readers express that they would like to find the secret to making money work for them, so that they can work less.

However, while it’s important to learn about the operations of different investment options, it is even more essential to discover the principles of investing.

One resource that contains many of the basic laws of investing and creating wealth is The Richest Man in Babylon, by George S Clason. Although this book was written in the 1920s, it still provides relevant and practical nuggets of wisdom that can help you to understand what it takes to build sustainable wealth.

Continue reading Investment tips from an ancient time →

Business Lessons from the Honey Bee

Business Success, , , , , , , , , , ,

I have often admired the diligent work of the honeybee. Just stand in any garden for a few minutes and very soon you will see one or two honeybees foraging for food within the flowers. These insects never seem to get tired of working, so it’s obvious why an industrious person is said to be as ‘busy as a bee’.

On deeper reflection, I have come to realise that there are many insights that this tiny insect can give us about being successful in business. I did a little research on the practices of the honeybee and I was quite impressed with the systematic way that it goes about achieving its life’s work.

Here are some of the business lessons that I have learnt from studying the honeybee: Continue reading Business Lessons from the Honey Bee →

The Past and Present Tense of Money

Budgeting, , , , , , , , , , , ,

The start of a new year usually fills our hearts with optimism and hope for a better future. I’ve always been fascinated by this phenomenon – why should this period inspire us to create lofty resolutions and ambitious declarations? Why do we anticipate that the fading old year will usher in bright beginnings?

There is no magic elixir that gets released on New Year’s Day; the first of January is just another 24 hours that will come and go, just like they did on December 31.

Despite our fervent wishes to exercise regularly, save more, be kinder to other people or pursue our dreams, chances are that after a few days of inspired activity, we will continue along the same old pathway as we did before.

The reality is that you can choose to transform your life at any time of the year. The date doesn’t make a difference; whether it’s February 28, April 13, or September 4, any day can symbolise that moment when you finally commit to do whatever it takes to effect the changes that you desire. Continue reading The Past and Present Tense of Money →

The 3 Ms of Money Gone Caribbean!

3 Ms of Money, , , , , ,

It’s been really exciting seeing the development of the personal finance industry in Jamaica over the last eight years. As I write my memoirs about my past money mistakes and the strategies I used to turn around my financial situation, I remember the days when I felt like a lone voice in the wilderness, talking to people about the importance of proper financial habits.

Ever since I learned that the key to money success was all about knowing, understanding and doing the right things with money, I have been committed to spreading the ‘3 Ms of Money’ message – how to manage, multiply and maintain money.

Today, there are more institutions passing on information about the right money habits for success, although there’s still a lot of work to be done. It’s also encouraging to see the focus on financial literacy education in agencies around the Caribbean. I am actively building my audience in the Caribbean, and I have recently been included as a feature writer on the regional website http://financialliteracycaribbean.com.

I’m looking forward to taking the ‘3 Ms of Money’ all around the Caribbean very soon!

Keep being Financially S.M.A.R.T.

How To Maintain Your Money

Retirement & Estate Planning, Risk Protection, , , , , , , ,

Why do some people achieve long-lasting financial success while others struggle with money for their entire lives? After years of seeking the answer to this mystery, I have discovered that the route to prosperity lies in the knowledge and application of some basic principles that govern money.

We have been examining the three tenets of money success – managing, multiplying and maintaining your money. After making smart use of the money you already have and making determined efforts to earn more, the final key is making plans to preserve your wealth for your lifetime and beyond.

Here are the four essential steps to maintaining your money: Continue reading How To Maintain Your Money →

The 3 M’s of Money

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“In a recent column you said that it was possible for persons to learn how to be financially literate. I am tired of always being low on funds and big in debt. What are some of the things that I should be doing in order to be successful with money?”

Being smart with money is not hard once you learn and start practising some basic financial principles. After many years of being financially clueless, I was able to completely turn around my money situation once I discovered the secrets of financially successful people.

These revelations came after years of reading books about money, searching the Internet, watching financial television shows and interviewing wealthy persons.

Based on my research and personal experience, there are three things you need to focus on: managing the money you already have, multiplying money for growth, and maintaining your money to last throughout your life and beyond. Continue reading The 3 M’s of Money →