Tag Archives: debt reduction

Jamaican Style Money Guide: Poun’ A Fret Can’t Pay Ounce A Debt

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When we are faced with a difficult situation, sometimes we may not be mentally ready to accept a few wise words of advice. As the saying goes, “Misery loves company,” and very often we secretly prefer to receive sympathetic gestures than to take positive action to eliminate our challenges.

I have found this reality to be very evident with persons who are suffering from money problems. Having experienced many of my own financial crises over the years, I completely understand this ‘woe-is-me’ mindset which tends to trap a person in a state of helplessness and negativity.

Of all the money predicaments that you can encounter, chronic indebtedness is perhaps the most challenging. There is nothing as depressing and defeating as facing unpaid bills, past-due notices and demand letters, and worrying about the legal consequences of your inability to pay. Continue reading Jamaican Style Money Guide: Poun’ A Fret Can’t Pay Ounce A Debt →

Patience is a Financial Virtue

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Modern society is characterised by fast-paced technology which allows us to enjoy Google searches, Twitter updates and ready-to-eat meals. Today, it seems that patience has become passé; who wants to wait for anything in this age of instant gratification?

Patience, one of the seven heavenly virtues, is the ability to accept delays in the desired timing of an event, or the capacity to endure problems without anxiety. Patience really requires you to take a passive approach while you allow nature or destiny to take its course.

When it comes to money, it could be argued that patience indicates weakness, as we should be fiercely ambitious in going after our financial goals. However, patience is an important trait to have if you want to succeed with money; without it you may actually be sabotaging your dreams. Continue reading Patience is a Financial Virtue →

Having Fun With Money

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When some people think of finance, they may conjure images of imposing business people dressed in expensive suits speaking a language that goes way over their heads. To be frank, some of the money information in the media really does sound like college course material that most of us would prefer to skip.

Apart from the formality of finance, many people have less-than-positive sentiments about their personal money situations. When they think about their financial issues, they may feel confused, intimidated, frustrated, and even fearful. Money, for many people, is definitely not fun.

Change your money mindset

Unfortunately, having a distant or apprehensive approach to financial matters can prevent you from getting the most from your money and from achieving your financial objectives. You need to be confident and optimistic about your finances in order to succeed with money. Continue reading Having Fun With Money →

Money Mission: Stop Procrastinating!

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Isn’t it amazing how fast we have sped through 2012? It seems like just yesterday we were making optimistic declarations about our plans for the new year. Now, there are only 60 days left until this eventful year becomes history. Looking back on the past 10 months, would you say you have accomplished your goals?

Many of our wishful resolutions are destined to remain unfulfilled. If we took the time at the beginning of the year to assess our needs, think about viable solutions to our problems, and write down firm declarations to better our lives, why have over 300 days gone by without us taking action? Why did we let distractions and discouragements keep us from our achievements?

The answer to this age-old problem will vary, as persons may have different issues that affect their levels of motivation. Despite the situations that may have held you back in the past, you can still make an effort to work on some of your unfinished targets. You can make the rest of the year really count by tackling one or two of your incomplete objectives. Continue reading Money Mission: Stop Procrastinating! →

Money Mission: Emancipate yourself from financial slavery

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“Emancipate yourself from mental slavery; none but ourselves can free our minds.” – Marcus Garvey

This week and next Jamaica commemorates its 50th anniversary of Independence as well as 174 years of Emancipation from slavery. In the midst of all the celebratory events, some of us might question how independent or free we really are as a nation, with all the economic, social and political challenges that continue to hinder our productivity and prosperity.

In true Jamaican style, most of us will ‘tek kin teet kibba heart bun’ and enjoy the festivities, putting aside our concerns until after the holidays. However, all too soon, the pressing problems will resurface and vie for our urgent attention. When it comes to money, it seems that both the country and many of its citizens are still trapped in economic slavery.

What are some of the ways in which you can be held captive by the shackles of financial bondage? Continue reading Money Mission: Emancipate yourself from financial slavery →

Money Mission: Get Out of Debt

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Over the past two months we have expanded on some of the key principles of money achievement that were outlined in our 2012 Money Manifesto.

Whether it’s budgeting, saving, setting goals, debt management, creating income, investing or estate planning, there are some basic steps that are non-negotiable if you want to create a successful financial future.

Of all the money principles I’ve identified, I think the one that proves the hardest to master is managing debt. I always receive the most heart-rending requests for help from persons who are desperate about their debt.

Uncontrolled borrowing can not only destroy the lives of individuals and their families, but devastate entire corporations and countries as well.

Continue reading Money Mission: Get Out of Debt →

How to Manage Debt Wisely

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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 →