Tag Archives: Money Smart

Money Mission: Increase Your Financial Knowledge

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One of the reasons why persons may find it difficult to achieve their money goals is that they lack the financial know-how necessary for success. They might be clear about what they want to achieve, and may be motivated to do what’s necessary to accomplish their objectives, but they are still hampered by uncertainty about the right way forward.

Although having insufficient information can negatively affect your self-confidence, it’s one of the easiest obstacles to overcome. We are living in the age of information, and there are myriad ways to gain detailed instructions on almost anything you need to do. Once you have a strong desire to learn, you can seek and find the answers to most of your questions.

As we continue to look at strategies which can help you to stay focused on your goals, this month’s money mission challenges you to get educated about financial matters. As 16th century philosopher Sir Francis Bacon declared, “Knowledge is power;” and learning the essential skills of money can empower and equip you to take charge of your financial future. Continue reading Money Mission: Increase Your Financial Knowledge →

Uncovering the Secrets of Money Success

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Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.” – Matthew 7:7, NIV Bible

As a money coach, I interact with many people who are desperately seeking solutions to their financial problems. When you are constantly broke, heavily in debt and unable to find the way to achieve your dreams, it can feel as if you’re lost in a confusing maze without the vital directions to get you out.

I can easily relate to people’s feelings of distress, as I was also trapped in a financial quicksand for a long time. After years of spending more than I earned, depending on debt and naively ignoring any preparations for the future, I had the good fortune to get a job at a financial institution.

For the first time, I saw persons who were smart about money, who were achieving financial goals that I hadn’t even dreamed about. Continue reading Uncovering the Secrets of Money Success →

Developing Financial Literacy in Jamaica

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Over the past eight years, I have been actively involved in writing, training and coaching on topics relating to financial education. Through interaction with thousands of Jamaicans from all walks of life, I have realised that the number one problem that prevents most people from achieving their financial goals is their lack of understanding of basic money principles.

Financial literacy is defined as the ability of individuals to make appropriate money decisions by learning the principles that relate to the management, growth and preservation of their money. When people are educated about the appropriate actions to take with their money, then they are more likely to save towards their goals, manage their debt, purchase assets such as a home, and make positive contributions to the economic development of the country.

Anecdotal evidence points to an overwhelming demand from Jamaicans for practical information on or about basic financial strategies such as budgeting, debt control, investing options and retirement and estate planning.

Although some financial institutions have been offering public seminars to address some of these issues, their initiatives have been insufficient to meet the country’s requirements. Continue reading Developing Financial Literacy in Jamaica →