Category Archives: Money & Your Mind

No Regrets

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Recently, my 25-year-old niece shared with me some of the strategies she was using to secure her financial future. She explained that she had rejected the credit-card consumption culture that was so prevalent in the United States, by only buying things that she could afford.

Saving a good portion of her salary was her main aim, as she wanted to amass a significant down payment before she bought her own home.

Although I was filled with pride as I listened to her reveal her smart money habits, I couldn’t help but reflect on my own financial history, which was quite the opposite. When I was 25, my income was inadequate, my debt was distressing, and my net worth was nonexistent. Continue reading No Regrets →

Eight Essential Money Principles

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Very often, people ask me to provide them with one piece of advice that could help them to be more successful with their money.

Over the years I have learnt that there isn’t just one method to effectively manage your finances, create wealth, or preserve your money for the future. In fact, there are several steps which, when combined, can put you on a solid financial footing.

Here are eight guidelines that can help you successfully traverse the road to financial freedom: Continue reading Eight Essential Money Principles →

Your Money and Your Time

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The old saying ‘Time is money’ came to mind recently as I sat in a recording session that had to be paid for by the hour. As the taping extended beyond the planned schedule, I began to watch the steady progress of the clock’s minute hand, and mentally calculated the cost of each tick of time.

Time is really the only resource that’s in limited supply, as we only get 24 hours, or 1440 minutes, or 86,400 seconds in a day. Oftentimes, we forget the important connection between time and money, as there are many ways that we squander time that will negatively impact our money.

Here are some considerations about time and money: Continue reading Your Money and Your Time →

Can Your Past Influence Your Present Money Habits?

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“Your article about coping with parents’ money problems made me think about the bad money habits that I picked up from my father. My parents had different attitudes about money – my mother was a saver but my father spent all he had.

“I adored Dad and I wanted to be just like him; so I never saved and gave money away just like he did. I now see where this has hurt me because I have no money. I think people need to be aware of how their parents can influence their attitudes about money.”

Your finances are in serious disarray. You live from one pay cheque to the next. You give thanks for your credit card, as without it you wouldn’t even be able to buy petrol. You know that something is very wrong – you earn enough to save and live comfortably, but somehow financial success seems like an impossible dream.

You decide to get help to fix your money problems. Books, newspaper articles, television shows and Internet websites about money become your obsession. You even get professional financial advice.

Gradually you learn the steps you need to take to turn around your life. You start with a strong intention to do the right things, yet eventually, you go right back to your bad money behaviours. Continue reading Can Your Past Influence Your Present Money Habits? →

Places to learn about money

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“Your recent discussions on the three money principles have made me realise how much I need to learn about financial success. Where can I go to get simple information that can guide me in being better with my finances?”

The old adage, ‘every cloud has a silver lining’, has really been proven true in these challenging economic times. The global financial meltdown has put the spotlight on the ways we have been mismanaging money, and has reinforced the need for everyone to become financially literate.

Unfortunately, personal financial training is not available through the school system, so most people have to find ways to educate themselves. Here are a few ways that the average person can learn more about money: Continue reading Places to learn about money →

Mission: H.O.P.E. – The Prosperity Club

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Last week I revealed that I had made a conscious decision to reject the prevailing negativity of these times and focus instead on positive thoughts about wealth, money, and prosperity. Using the affirmation “Prosperity is mine in 2009,” let us channel our energies into creating solutions instead of complaining about our problems; and expecting opportunities instead of experiencing fear.

For the rest of this month, Your Money will expose people and organizations that are helping others to rise above their limitations to succeed and prosper. Our theme will be:   Mission:   H.O.P.E. – Helping Others to Prosper and Excel.

I regularly give presentations to companies and organizations to educate their team members about financial success principles. When I speak to many young people they seem to be overwhelmed by the negative occurrences in Jamaica, and appear to have given up hope that it is possible for them to have a brighter future. Continue reading Mission: H.O.P.E. – The Prosperity Club →

Prosperity is Mine in 2009!

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“If we had no winter, the spring would not be so pleasant: if we did not sometimes taste of adversity, prosperity would not be so welcome.” – Anne Bradstreet, British poet

The eventful year 2008 is now history. Some people might whisper “good riddance”, as they reflect on the financial challenges of this tumultuous 12-month period. As the reports of another year of austerity permeate the air, I am now declaring that this does not have to be our reality. Instead, let’s all pronounce that “Prosperity is mine in 2009!”

I must confess that I am tired of all the negative financial reports that prophesy financial doom and gloom. It’s not that I don’t recognise the severity of the economic crunch; I am concerned about the persons who are facing redundancy, foreclosure or mounting debt, and the businesses which are finding it difficult to remain viable.

However, as someone who understands and has experienced the law of attraction, which states that whatever you concentrate on will multiply in your life, I’m more concerned about the self-fulfilling nature of problem-centric thinking. Continue reading Prosperity is Mine in 2009! →

How to succeed at any goal

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Are you having difficulty achieving your financial goals? Do you desperately want to buy a house of your own, spend a nice vacation in an all-inclusive, or earn enough to stop living off credit cards? Are life’s challenges intervening to make your desires seem like impossible fantasies?

Sometimes our goals are elusive because we’re not taking all the steps needed to attain them. Get back on track to achieving your objectives by following this four-step system:

The Dream Process

“We’ve got to have a dream if we are going to make a dream come true.” –  Denis Waitley

The first step in improving your current financial picture is to envision yourself in a better situation. To start the dream process, become child-like in your thoughts and dream big. Visualise yourself living out your dream – see what’s around you, hear the sounds and smell the scents, taste and feel the experience.

Get to the root of your dream and ask yourself what emotional need it satisfies for you. Your desire for your own home might really be a need for security; a new car might bring the self-confidence you crave. Then use that strong need to bolster your determination that the dream must one day come true. Use visual reminders to help you continuing focusing on your dream. Continue reading How to succeed at any goal →

The Secret of Money Revealed

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Research has shown that only about one per cent of the population achieves exceptional wealth. Is this because the other 99 per cent are missing some crucial information, such as an ancient guidebook on wealth creation? Is there a hidden secret to making money?

After years of hearing the hype about The Secret, I finally read Rhonda Byrne’s book based on this best selling DVD about having, being and doing anything you want in life. Most of the material was based on concepts that had been expressed before by many great thinkers and achievers throughout the centuries. In fact, I had already read and heard ‘the secret’ in several different forms.

What exactly is this ‘secret’? What is this great mystery of achievement in life?

The secret is the reality that everything that is happening to you right now, and everything that has taken place in your life before, is a direct result of what you are thinking now and have thought in the past.

Continue reading The Secret of Money Revealed →

How to manage tough money problems

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“I’m desperate and I don’t know where to turn. I’m over my head in debt and my salary isn’t enough to pay for my basic needs much less pay down my loans. Every day prices increase, but my money only stands still. No matter what I try, I can’t seem to dig out of my financial mess; sometimes I feel like just giving up. Help!”

Everywhere you turn, people are complaining about their money problems. Food prices are skyrocketing, consumer debt is spiraling, utility costs are rising; everything is going up except our incomes! Many people are definitely getting anxious about money or their lack of it.

As a financial advisor, one of my biggest challenges is how to help someone with a tough financial problem that has no obvious solutions. Some money problems can’t be fixed with the regular smart advice of how to earn more and spend less. In reality, some people have money troubles that only get more depressing as you try to find a workable way forward.

So what can you do if you’re in the middle of a really tough financial mess? Give up? Not an option! Continue reading How to manage tough money problems →