Tag Archives: budget

The Art and Science of Making Money

Despite the developments in technology and differences in trends that emerge over time, there is one financial certainty that will probably remain constant. Most persons – regardless of age, gender, education, nationality, status or creed – will express the desire to have more money.

The ability to increase income levels far in excess of spending needs is desired by many, but discovered by very few. Could it be that some people are blessed with an inherent flair for making money that escapes the less talented majority? Or is there a scientific approach to money multiplication which can only be exploited after years of dedicated study?

The 2012 Money Manifesto, our 12-step guide to creating financial success, provides a recipe for increasing your income and putting your money to work for you. It is virtually impossible to budget successfully, save towards a nest egg, avoid debilitating debt, and plan for future goals, without having the means to boost your earning power. Continue reading The Art and Science of Making Money

How to Manage Debt Wisely

Since the beginning of the year, we have been expanding on the elements of our 2012 Money Manifesto. It is possible to create the financial life that you desire by understanding and following the basic principles of money success.

In today’s column, we will take a look at the sixth component which speaks about dealing with debt. Let’s examine some key do’s and don’ts that can help you to manage debt wisely: Continue reading How to Manage Debt Wisely

Make 2012 Your Best Year Ever

At the beginning of a new year most people choose to reflect on the past and make resolutions for things they would like to accomplish going forward. However, despite their grand ideas and hopeful wishes, all too often, the days, weeks and months slip by without any progress being made towards actualising their goals.

Although they may have a good picture of the end result that they want to attain, many people fail to prosper because they really don’t know how to create and carry out an action plan that works.

Success is not achieved by a swift arrival at a desired destination; it’s the cumulative result of taking consistent, tiny steps that are headed in the right direction.

Continue reading Make 2012 Your Best Year Ever

Money Manifesto for 2012

As many Jamaicans go to the polls today to select the party, people and policies of their choice, I thought that I would create a ‘Money Manifesto’ containing all the financially smart steps that can help you to shape a prosperous future for 2012 and beyond.

The 12 points shared below represent the essential areas that you should follow if you wish to become financially successful.

1. I will make financial education my priority.

I will invest in my own personal development by seeking to learn more about money. I will endeavour to read or listen to good financial advice every single day, as I recognise that most of the solutions to my money problems can be found in other people’s experiences in books and CDs. Continue reading Money Manifesto for 2012

Six questions to ask before you spend

I recently had a heart-warming conversation with a reader who lives in the inner-city community of Trench Town, in Kingston Jamaica. I met Nicolini Williams two years ago when he participated in a financial literacy training I was offering to members of the Miracle Club, the youth mentorship arm of the Agency for Inner-city Renewal based in that area.

Now a first-year law student, this brilliant young man shared with me how much he had gained from learning the principles of money success. Williams explained that he had not grown up in a home where financial management was taught or even mentioned, and consequently, he often squandered money on unnecessary items.

After being exposed to new concepts about smart financial habits, Williams was able to identify his negative attitudes and actions regarding money. He realised that if he continued to seek more information about success principles and applied what he had learned, he could eventually break free from his financial problems. Continue reading Six questions to ask before you spend

The Past and Present Tense of Money

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

2010 Action Plan #1: Control Your Spending

In recent times, while speaking to several persons about their money problems, I have detected a growing sense of desperation in their voices. Although many have not yet reached a stage of full-fledged panic, it is obvious that they are very worried about the current financial situation facing Jamaica.

“If I can’t make ends meet now,” a client asked perplexedly, “what’s going to happen to me when the full impact of the tax increases hits?”

I believe that good results can come out of every bad situation. The prevailing economic crisis has forced many of us to recognise that we can no longer be nonchalant or clueless about our financial condition. We have received a monetary wake-up call – it’s now time to take control of our finances!

Over the next three weeks, I will share with you an action plan that will help you to survive in these times, and set yourself on the right track to long-term financial success. Continue reading 2010 Action Plan #1: Control Your Spending

We Will Rise Again in 2010!

Most of us welcomed in 2010 with sighs of relief; giving thanks that the challenges of the past year were finally behind us. However, despite offering best wishes to friends and family, we may actually doubt that the aspiration “Have a Prosperous New Year” can be realised over the next 12 months.

Even if we managed to ignore the discussions about Jamaica’s economic crisis during the festive season, reality was abruptly thrust upon us on January 1 when the new tax increases were implemented. As I noted the dramatic jump in petrol prices, it became even more obvious to me that we were in for a financially challenging time this year.

The pragmatists and pessimists are warning us about impending job losses, increasing poverty levels and inevitable social upheavals. At the same time, some business and political leaders are declaring that Jamaica is poised to benefit from myriad opportunities that always abound in periods of crisis. Where does our future really lie? Continue reading We Will Rise Again in 2010!