Tag Archives: Money Coach

Christmas Spending Recipe

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Whether you’re ready for it or not, the yuletide season is now in full swing. Merchandisers persistently and persuasively remind us how much we really need to buy their products or services if we want to enjoy the holidays. Christmas is, after all, the major shopping period for the year.

It’s easy to get caught up in the wave of consumerism that engulfs us during at this time. With so many demands on your spending dollar during this month, you may feel overwhelmed by the pressures to spend, and frustrated if you don’t have enough money to satisfy all your desires.

You could develop a Scrooge complex and just hide away from the frenzy until early next year, but there are more sociable ways to cope with the seasonal shopping stresses. Here is a Christmas spending recipe which should help you to survive the holidays with your budget and sanity intact. Continue reading Christmas Spending Recipe →

Money Mission: Count Your Blessings

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All too soon, we have come to the final month in 2013. Over the year, our ‘money mission’ columns have tried to keep you on target with your goals; encouraging you to carry out specific objectives to further your plans, and giving you strategies to overcome obstacles that can hinder your progress.

We’ve covered diverse topics such as overcoming disappointments, earning independent income, looking for opportunities in change, and discovering your motivating force. We’ve also shown you how to focus on a priority goal, get organised, control your time and complete your tasks.

Rest, reflect and review

Although December is usually consumed with thoughts of shopping and revelry, for this month, we invite you to spend some time in reflection. Consider the financial successes that you have enjoyed, as well the money mistakes you have made. What lessons have you learned from them? Continue reading Money Mission: Count Your Blessings →

Making Money Connections

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We live in a world that has become increasingly interconnected. We can make connections with long-lost acquaintances or faraway friends with a quick search on a social media website. Our mundane activities can become viral trends thanks to the wide web of linkages on the Internet.

We need to be cautious about the online connections we make, as people’s virtual personas may be vastly different from their reality. We should also think twice before posting comments or photos, as they could have widespread repercussions on our work and personal relationships.

While it’s easy to see the positive and negative effects of establishing connections via technology, you may not readily recognise the importance of making wise money connections. You should also pay careful attention to the linkages you make when carrying out your financial transactions. Continue reading Making Money Connections →

A Charitable Route to Wealth

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Many years ago, while I was searching for strategies to eliminate my money problems, I read a book by financial guru Suze Orman which opened my eyes to an interesting principle that promised to help me achieve a better relationship with my money.

In The Courage to Be Rich, Orman opined that it was important for us to connect to the world with our money, and that charity should be a part of our financial plan. Orman noted that giving money away had many benefits that could not only change people’s lives, but improve our own finances.

HOW GIVING BECAME A PRIORITY EXPENSE

I was determined to fix my money woes, so I usually followed the advice of the experts without question. However, the concept of giving away some of my inadequate income to others left me perturbed. How was I going to survive on less money when I couldn’t even pay my bills? Continue reading A Charitable Route to Wealth →

Practical Money Lessons for Your Children

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Money is such an integral part of our lives, yet it is often misunderstood, misused and mismanaged. One of the reasons some adults find it hard to make the most of their money is that they never learned good financial practices at an early age.

If you are a parent or have the responsibility of teaching children, then one of the most important things you can do for their development is to help them appreciate money and finances when they are young. One way to do this is to incorporate money lessons into their everyday activities.

Money will be less of a mystery to children when they see it being smartly utilised in their real-life experiences on a regular basis. Here are some simple ideas on how you can help your kids to understand money and give them a head start on becoming financially well-adjusted adults. Continue reading Practical Money Lessons for Your Children →

Money Mission: Deal with Disappointments

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As we draw nearer to the close of another year, a lot of persons will look back with regret at lost opportunities or unfulfilled objectives over the past months. Although most people will begin the year by making optimistic resolutions, many will not be satisfied with their year-end results.

It can be discouraging to set your heart on attaining a desired objective in a specific time, make diligent efforts to carry out the required steps, and then get derailed somewhere along the process. Part of goal achievement is learning how to deal with the inevitable disappointments that will arise.

It may be a little naïve to expect calm waters and smooth sailing when you embark on your voyage towards your goal destination. The reality is that you will most likely encounter unexpected and unpleasant challenges along the way that will test your resolve and determination to succeed. Continue reading Money Mission: Deal with Disappointments →

How to Create An Estate With No Assets

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Ruthann looked in the rear-view mirror to see why her two children had suddenly gone silent. Just a few minutes ago, her five-year-old twins in the back seat had been arguing about which one had run faster at their school’s sports day. Their quarrelling had taken its toll; they were now fast asleep.

Thankful for the brief respite, Ruthann smiled as she reminisced on her children’s antics. Despite their hyperactivity, they both performed well at school and she was proud of their achievements. She looked forward to seeing them become accomplished adults in the future.

As she daydreamed about the years to come, Ruthann’s brow grew furrowed as the familiar fears crept through her mind. She often worried about what would happen to her kids if something untoward happened to her. Once again, she was gripped by an overwhelming sense of panic. Continue reading How to Create An Estate With No Assets →

Planning for Your Passing

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When planning for their goals, many persons will often make decisions in an overly optimistic way, believing that all things will move smoothly to take them towards their desired results. Most people prefer not to think about the negative occurrences that could derail their dreams.

It’s good to visualise a bright future for yourself, where your positive attitude and persevering actions will help you to accomplish all your goals. However, it’s financially smart to prepare for any unwanted situations that are different from what you envision for your life.

Life has no guarantees
One of the unpleasant eventualities for which you need to make financial preparations is the possibility that you might not live long enough to actualise your dreams or enjoy the fruits of your hard labour. Death is certain, but none of us knows the exact date that it will visit our doors. Continue reading Planning for Your Passing →

Home Buying Risks

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There are few occasions that will bring such an overwhelming sense of satisfaction and fulfillment as purchasing your own home. For most persons, it is the realisation of a lifetime dream; and it often heralds their hope for a more prosperous financial future.

While the prospect of buying a home may trigger many emotional responses, it is important to remember that it is a major financial investment as well. If you’re pursuing home ownership, you must also incorporate some rational and prudent decision-making steps in the process.

When investing money, most people will focus on the plus side of the equation; they concentrate on what they have to gain from making the transaction. However, when you commit your funds to a venture, there is always the possibility that you could receive an undesired or adverse outcome. Continue reading Home Buying Risks →

Home Ownership Reality Check

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Many people will express that one of their major financial dreams is to purchase their own home. It seems that the desire for home ownership runs deep in their minds, hearts and souls, as owning an abode gives a sense of security that few other investments can provide.

However, despite the universal appeal of home ownership, a relatively small percentage of Jamaicans ever accomplish this worthwhile objective. Although the desire to buy a home remains firmly lodged on their wish list, too few are actually able to convert this dream into reality.

The elusive home dream

There are various reasons why home acquisition can be challenging for most Jamaicans. Firstly, the adverse economic situation precludes many consumers from being able to commit enough of their money to save for this goal. Every dollar that they earn is needed to meet basic expenses. Continue reading Home Ownership Reality Check →