Tag Archives: Jamaica

What’s the State of your Estate?

Retirement & Estate Planning, Wealth, , , , , , , , ,

Many people are so focused on trying to make ends meet that they can find little time to think about the requirements of the future. “What’s the use of putting aside money for tomorrow if I can’t even pay my bills today?” they may say. Even further from consideration is making plans for what should be done with their money when they die.

Maintaining the money that you have worked hard for is a vital element of financial planning. You should not only concentrate on managing the funds you currently have or on earning more money; it’s also crucial to work on protecting your assets throughout your lifetime and beyond. Financially successful people always make preparations to preserve their wealth for future generations.

Since the beginning of the year, we have been discussing our 2012 Money Manifesto, which shows you how to create a comprehensive action plan to improve your finances. One of the manifesto’s pledges is that you should create an estate plan and leave a financial legacy of wealth for your beneficiaries to enjoy. Continue reading What’s the State of your Estate? →

The Art and Science of Making Money

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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

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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 →

Budgeting Is A Must

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Last week we expanded on the concepts in our 2012 Money Manifesto and explained why focusing on your financial education is the most important investment you could make for your future.

If you’re searching to find answers to your money problems, I can assure you that you will find the solutions in books, magazines, CDs, DVDs and Internet sites that deal with financial matters.

The first money success principle that you need to learn and apply is budgeting. Our Money Manifesto states: that “I will no longer be clueless about what I spend money on, as I will take the time to document all the expenses that I expect to come during the year. I will write down all my income sources and then calculate if my earnings can cover my expenses.”

There are two main reasons why budgeting is an indispensable money management tool. Continue reading Budgeting Is A Must →

Make 2012 Your Best Year Ever

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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

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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 →

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 →

The Secret of the Greatest Salesman in the World

Book Review, Wealth, , , , , , , , ,

A good book can weave a storyline that arouses all of your senses and emotions. Finely crafted phrases can paint a picture as vivid as a Michelangelo masterpiece; create a dish as appealing as the finest gourmet meal; produce a sound as stirring as a Bob Marley classic; and stimulate an aroma as comforting as the smell of a mother’s perfume.

Apart from the sheer pleasure it can bring, reading is also a great medium for learning. I have discovered that all of the important concepts of financial success are laid out in books, readily available for anyone who wishes to grasp them. I frequently recommend persons to search for the answers to their money problems in books.

While some people may think that financial titles might be a little boring, and devoid of intriguing plots that would stimulate their interest, that isn’t always the case. There are several books that present essential principles in very entertaining ways, which can excite your imagination and educate you at the same time.

The Greatest Salesman in the World, an international bestseller by motivational writer Og Mandino, will captivate you from the first paragraph until you regretfully reach the last page. Mandino creates a fascinating tale that takes a mundane topic for many people – sales success – and makes it come alive for anyone to enjoy. Continue reading The Secret of the Greatest Salesman in the World →

Financial success may be easier than you think

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Last week’s column which looked at several ways in which we sabotage our financial future by delaying important activities seems to have hit home with many readers. The quote ‘procrastination is opportunity’s natural assassin’ certainly rings true when it comes to our finances. Recently, I had yet another occasion to reflect on the dynamic relationship between time and money.

It was late Saturday afternoon when I received information that a family friend was coming to visit for a few days and would be arriving in less than three hours. In full-fledged panic mode, I thought about all the things that needed to be accomplished before I would be comfortable with having a guest stay in my house.

As I have acknowledged many times, procrastination has unfortunately been one of my more challenging vices. True to form, I had put off many little household tasks that could easily be ignored by my family alone; but with a visitor almost on my doorstep, these now became critical to my desire to be a successful and sociable host. Continue reading Financial success may be easier than you think →