Recently, thousands of Jamaicans got the opportunity to experience a variety of circus performers in action at Circus in the City held in Kingston. Energetic acrobats, daring stuntmen, amusing clowns and a mesmerising magician were some of the acts which were present at the event.

As I watched the performers entertain the audience with their skilful feats, I recognised that there were certain similarities between the circus activities and the many challenges people face with money. Here are some of the ways in which your financial world could be likened to a circus:

JUGGLING OBJECTS

Juggling is the art of manipulating several objects at once with your hands. The circus juggler uses extreme dexterity to toss several balls, clubs, rings or other props into the air, without letting the items touch the ground. It is one of the oldest forms of entertainment practised throughout the ages.

When it comes to money, you may be forced to juggle the payments of your expenses if you don’t have the cash flow to fully cover them. You may pay just enough on your bills to keep the accounts current, or you may deal with one expense this month and cover another in the following month.

Very often, you may be juggling your money because you haven’t prepared a detailed budget. Make a list of all the expenses which will arise for the year, and indicate when they will be due. Ensure that you put aside some of your monthly income to pay those bills that will crop up once or twice annually.

WALKING THE TIGHTROPE

A tightrope is a wire or line that is tightly stretched and secured between two points high above the ground. The circus performer will gingerly walk across the tightrope, sometimes balancing a pole. If done without a safety net, this can be one of the most dangerous acts in the circus.

In common usage, ‘walking a tightrope’ can mean that you are treading cautiously between two bad situations. With your finances, you walk a tightrope when you keep borrowing money to cover your budget shortfalls; this will only get you deeper into debt, and worsen your ability to pay your bills.

There are only two solutions to fix a budget imbalance — you can either cut back on spending or try to earn more to meet your needs. Break the dependence on debt by cancelling your credit cards and avoiding new loans. Look for practical ways in which you can make more money in your spare time.

FLYING ON A TRAPEZE

A trapeze is a bar which is hung between two parallel ropes or straps, and is used by trapeze artists to perform a variety of acrobatic movements. In the flying trapeze, one performer will swing from a high platform on a trapeze, let go in mid-air, and be caught by another who swings towards him.

The flying trapeze act can have disastrous consequences if executed poorly. If you invest without understanding where you are placing your funds, then you could be taking a leap into the unknown. You could put your money at risk by investing in a venture that wasn’t adequately secured.

You need to be knowledgeable about the world of investing before you take the plunge to commit your money to any venture. Research various investment opportunities, get expert advice from professionals before you make a decision, and never invest money that you can’t afford to lose.

CLOWNING AROUND

Clowns are some of the most beloved performers in a circus, as they entertain people with jokes and work hard to elicit laughter from their audiences. Very often, clowns will carry out self-deprecating actions that lead to embarrassing results, which cause people to laugh at their predicament.

Sometimes, you may approach your finances in a light-hearted way, making jokes about your money challenges and never taking your problems seriously. You may pretend that you are amused by your inability to make ends meet, but secretly you are deeply worried about your financial situation.

Your money woes are not a laughing matter; to address your issues you must face your reality and admit that you have a problem. Get serious about seeking assistance from experts who can help you to find solutions, and be resolute about applying the recommended steps.

While a circus can provide hours of entertaining fun, you don’t want your financial situation to take on the characteristics of this spectacle. Identify areas in your finances that need improvement and, like the ringmaster who controls the circus activities, take charge of your money for the future.

Copyright © 2013 Cherryl Hanson Simpson. No reproduction without written consent.

Originally published in The Daily Observer, July 25, 2013

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Cherryl is a money coach and business mentor, and founder of Financially S.M.A.R.T. Services. See more of her work at www.entrepreneursinjamaica.com and www.financiallysmart.org. Contact Cherryl