Category Archives: Money Reflections

A Dollar for Your Thoughts

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The phrase “a penny for your thoughts” is usually expressed when asking someone to voice an opinion on an issue being discussed, or when trying to discover the ideas which might be occupying the mind of someone lost in deep contemplation.

The earliest recorded use of the idiom is traced back to the 16th century when a United States penny, or one cent, was much more valuable than it is today. Given the current purchasing power of a penny, it might be considered almost disdainful to offer someone a cent for their opinions!

Our falling Jamaican dollar

I recently recalled this old saying when the rate of exchange of the Jamaican dollar to the United States counterpart first traded at about $100 for US$1 in June 2013. Our embattled currency symbol, which now had a value of less than one US penny, had hit a dismal new low. Continue reading A Dollar for Your Thoughts →

Food and your Finances

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Jamaicans definitely have a very special relationship with food. Our love of preparing and eating good food is culturally celebrated in poems, songs, wise sayings and folklore. Many people will travel far and wide just to partake in a fancy food festival or curry goat cook-up.

Food also has a major effect on our economy. Apart from the profits that food providers can make, other businesses can benefit from our fascination with food. If you’re planning an event and you want to encourage people to participate, just let it be known that free food will be available!

The benefits of the food industry

On the positive side, our country is experiencing a resurgence in the quantity and quality of food service professionals. When I was in school, over 20 years ago, it was not considered ambitious to take a home economics class, as you didn’t see how it could contribute to a lucrative career. Continue reading Food and your Finances →

What Makes the World Go ‘Round?

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When asked, “What makes the world go ’round?”, some people will empathically answer “Money!” while others will firmly declare, “Love!” It’s been said that “money can’t buy love,” but there is also wisdom in the concept that “it takes cash to care.”

Many people think that it is impossible to actively pursue love and money at the same time. A job, the main source of income for most persons, is seen as a tedious chore that is only tolerated because it pays the bills. The idea of working for love seems like a childish fantasy.

Others are so obsessed by the need to amass riches that they will sacrifice human kindness to gain a dollar. In their greed for money, they will abuse and take advantage of people; and cheating and corruption often become necessary evils in their pathway to progress. Continue reading What Makes the World Go ‘Round? →

MoneyAir Flight 2013

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Ladies and gentlemen, welcome aboard MoneyAir Flight 2013, with non-stop service to Money Success! It is my pleasure to be your financial flight attendant who will guide and assist you for the duration of this 12-month journey.

Your trip on MoneyAir will be customised to fit your needs, as all passengers must create individual flight plans to achieve their personal objectives. It is important that you make a directional map that is specific, measurable, achievable, relevant, and time-based. If not, your journey will be aimless and frustrating, and you will not be able to reach your desired destination.

On MoneyAir, we put you in the pilot’s seat, as you are actually the designer and driver of your own destiny. You will be required to adopt a persistent and determined attitude on this flight, as it will not always be a smooth or simple journey. As we prepare for take-off, please pay full attention as I explain the safety features of our special flight. Continue reading MoneyAir Flight 2013 →

My Christmas Wish

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And the Lord restored the fortunes of Job, when he had prayed for his friends. And the Lord gave Job twice as much as he had before. – Job 42: 9-11

The year 2012 has been very eventful, and in some respects, it has been the worst of times. We have experienced many low points and challenges hitherto unseen in our young nation – frightening criminal atrocities, worrying economic signals and disturbing social trends, among other concerns.

In many other areas, however, we have had the best of times. We celebrated 50 years of Independence with successes in the cultural and sporting fields; and once again, we proved how much influence our little island has on the rest of the world. Jamaica is indeed a nation of confusing contradictions and intriguing inconsistencies!

A welcome holiday break

In a few days, we will commemorate another Christmas Day. This holiday period gives us a brief respite from our personal and national troubles; when we can eat, drink, be merry and pretend that all is right in our world. After all, who can be too concerned about the future when we can enjoy family, food and fellowship right now? Continue reading My Christmas Wish →

Giving Thanks for 2011

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“It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness; … it was the spring of hope, it was the winter of despair; we had everything before us, we had nothing before us.”

This quote from the Charles Dickens novel, A Tale of Two Cities eloquently expresses some of the conflicting realities of Jamaica in 2011.

As we approach the end of another year, it might be tempting for us to become cynical about our nation’s growth in the past and potential for the future. Politicians, psychologists, financial analysts, civil society groups and ordinary citizens all have varying opinions about the economic challenges that hinder our progress.

With ‘Brand Jamaica’ continuing to ride high, why is it that we couldn’t take advantage of our tremendous popularity and goodwill to reap financial benefits in 2011? Continue reading Giving Thanks for 2011 →

I Have A Dream

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After writing about some of my concerns for the economic future of this country last week, I was heartened to receive responses from readers who indicated that they too, were anxious to play a part in restoring Jamaica to a prosperous state.

A few persons shared with me the development plans that had been drafted by organisations with which were affiliated. Although there are several groups of well-thinking citizens with inspired proposals, it appears that we are not as efficient in actualising our projects to create change. Why can’t we seem to move from idea stage to action phase?

In reflecting on the possible reasons for this inability to progress, I realised that our country’s financial problems are not unlike those faced by individuals. While many of us may think about how we want to improve our lives, somehow we just can’t seem to turn our thoughts into reality. Continue reading I Have A Dream →

Waiting in Vain?

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Dearest readers,

Since February 2006 I have been faithfully writing on the subject of personal finance, teaching you about the essentials of managing, multiplying and maintaining your money. It has been my pleasure to share all the money lessons I’ve learnt while searching to find answers to solve my own financial challenges.

Over the last five years, I have been honoured and humbled by the hundreds of readers who have shared their testimonies of how my articles have encouraged and enlightened them towards improving their financial situations. In fact, I have been privileged to meet and become friends with some of my more enthusiastic supporters.

Despite all the naysayers and negativity in the country, I have always held firm in my belief that it is possible for each and every one of us to be successful with money. Once a determined effort is made to learn and apply all the important principles that govern money, no one should continue to experience financial distress indefinitely.

However, as I write this article, I must admit that my heart is a little heavy. Yes, I have been preaching about the principles of money success and practising positive thinking about our problems, but this cannot be enough.

I recognise that a whole lot more needs to be done if the people of Jamaica are truly going to experience a change of economic fortunes.

Continue reading Waiting in Vain? →

All I Want For Christmas Is…

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Every year during the month of December, many people feel obliged to partake in frenzied preparations for the Christmas period, with party-hopping and present-buying being of utmost importance. It seems that having lots of money to spend is crucial to some for the enjoyment of the season.

In fact, many people become depressed at this time if they can’t find the funds to really splurge for the holidays. It’s common to hear frustrated shoppers comment that “No money not running this year, so I won’t be able to have a good Christmas.”

The commercialisation of Christmas by profit-seeking merchandisers has unfortunately turned many away from the true message of the season. The biblical account of three wise men bringing gifts for the blessed Child in a manger now merely forms an endearing backdrop to the biggest shopping period of the entire year.

As a money coach, I have seen ‘the good, the bad and the ugly’ when it comes to people’s money behaviours; and oftentimes the excesses of the holidays bring out their worst attitudes.

In direct contrast to the self-sacrificing message of Jesus’ birth, many people exhibit a self-centred, materialistic focus on acquiring more and more things at Christmas.

Continue reading All I Want For Christmas Is… →