Tag Archives: money

The 3 Ms of Money Gone Caribbean!

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It’s been really exciting seeing the development of the personal finance industry in Jamaica over the last eight years. As I write my memoirs about my past money mistakes and the strategies I used to turn around my financial situation, I remember the days when I felt like a lone voice in the wilderness, talking to people about the importance of proper financial habits.

Ever since I learned that the key to money success was all about knowing, understanding and doing the right things with money, I have been committed to spreading the ‘3 Ms of Money’ message – how to manage, multiply and maintain money.

Today, there are more institutions passing on information about the right money habits for success, although there’s still a lot of work to be done. It’s also encouraging to see the focus on financial literacy education in agencies around the Caribbean. I am actively building my audience in the Caribbean, and I have recently been included as a feature writer on the regional website http://financialliteracycaribbean.com.

I’m looking forward to taking the ‘3 Ms of Money’ all around the Caribbean very soon!

Keep being Financially S.M.A.R.T.

Become of Fan of the 3 Ms of Money

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Writing the ‘memoirs of my money madness’ is now a bigger task than I first imagined. As I dig deep to recall all the challenges I faced with money, I realise that so many others today are suffering from the same issues that I had to overcome.

As a coach, speaker and newspaper columnist, I interact with many people who are on the brink of financial disaster, and generally clueless about what they need to do to turn around their money situation. The level of financial distress is increasing across all sectors of Jamaican society.

Sometimes it feels overwhelming to figure out how to address the financial concerns of so many people. Although I’m really dedicated to helping people deal with their money issues, I am just one person. This is why I am writing this book, The 3 Ms of Money hoping that it can reach a whole lot more people than I can speak to individually.

The intention is to inspire others to believe that, YES, it is possible to live within your means, dig your way out of debt, start a savings habit, learn about investing, and achieve your goals. Trust me, if I can do it, then ANYONE can!

I’ve created a Facebook fan page to help you keep track of my progress along the way. Please click here to join the 3 Ms of Money Fan Club!

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Eight Essential Money Principles

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Very often, people ask me to provide them with one piece of advice that could help them to be more successful with their money.

Over the years I have learnt that there isn’t just one method to effectively manage your finances, create wealth, or preserve your money for the future. In fact, there are several steps which, when combined, can put you on a solid financial footing.

Here are eight guidelines that can help you successfully traverse the road to financial freedom: Continue reading Eight Essential Money Principles →

3 Ms of Money- Dealing with Debt

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Writing my first book, The 3 Ms of Money, has allowed me to take a look back in time at all the BIG money mistakes that I have made. One of the worst wrong turns I have made is to think that having access to other people’s money (OPM) would make life easier.

Borrowing money can be a very destructive practice, as it lulls you into a spending lifestyle that isn’t sustainable. When you are dependent on a source of income that doesn’t come from you, you lose sight of the fact that you are living beyond your ability to produce. As your desire for credit grows, eventually the monthly payments become too high to manage, and then your debt mushrooms beyond control. Then you have to keep on borrowing to stay afloat. Very often at this point, you can’t access any more credit and your entire financial well-being is impacted.

The Bible says that the “borrower is servant to the lender” (Proverbs 22:7). I have found this to be true. For years I worked hard to pay off thousands of dollars in loan interest. And for what? Useless trinkets and idle entertainment that were long forgotten!

I teach people that debt is not only about borrowing money. It’s any obligation where someone else has delivered their part of the deal, and you have not. Just recently, I almost got tempted to take a great mobile phone offer where I could get a ‘FREE’ Nokia E71. In return I would have to sign a 3-year contract with the mobile company. After thinking about it some more,I realised that I would only be selling myself into 3 years of slavery to pay for this ‘free’ phone. What if I hated their service? What if they raised the monthly cost? I couldn’t complain because they had supplied their end of the deal.

I decided I would just save up and pay for it in CASH, thank you.

Anyway, you can read more about my misadventures with debt and what I had to do to get myself out of the mess I had created when The 3 Ms of Money is published.

Keep thinking and acting Financially SMART!

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Mission: The 3 Ms of Money

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I am really excited that I have now begun to compile eight years of learning and teaching the principles of money into my first book, The 3 M’s of Money: How to Manage, Multiply and Maintain Your Money.

As you may already know from reading my Author’s Bio, for most of my life I was a financial mess – I had never saved, was over my head in debt, and was generally clueless about how money worked. After getting a job at one of Jamaica’s largest financial institutions, I started interacting with financially savvy people and then determined that I would learn the secrets of money success for myself.

The 3 Ms of Money is basically a tell-all of the financial mistakes I have made and the lessons I learned which helped me to change my financial situation.  As I started teaching others the principles that I had applied in my life, I realised that they also saw positive changes in their financial and personal lives. This observation led me to start Financially S.M.A.R.T. Services with the mission to be Jamaica’s number one source for practical, down-to-earth and independent answers to all questions about personal finance.

So keep looking out during the month of November, as I will share with you my progress in writing The 3 Ms of Money.  I hope that publishing this book will inspire many people to believe that they too can win the money game!

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How to Earn More Money

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Very often, readers request advice on how to conquer their financial challenges. Most times their major issue is that they are not earning enough to pay their basic bills. As the cost of living increases, this problem only gets worse.

The reality is that it’s almost impossible in these times to expect that one job will be able to cover all our spending requirements. Many people try to borrow to make ends meet; but the only sustainable solution is to look around for other ways to earn more income.

Earning more is absolutely vital for financial success. Apart from the fact that many people do not earn enough to cover their basic expenses, they need to generate more money in order to achieve their financial goals. It’s also true that most persons don’t make full use of their abilities and time to make money. Continue reading How to Earn More Money →

Stop Making Excuses about Saving

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As a personal finance advisor, I can only show my clients the cold, hard realities of their financial lives and give them strategies for improvement; but until they are ready to make the necessary changes, I really can’t help them become financially successful.

After learning the secrets of managing, multiplying and maintaining money, it became my mission to pass on the good news to all. At first I was naïve in believing that once people understood how to transform their finances, they would quickly adopt key principles such as budgeting, saving and debt management.

Very soon I realised that it would not be quite that easy to influence some people’s personal finance habits. Even if they recognised that their negative practices would lead to their financial ruin, it was often difficult for them to change bad habits and do things differently.

Some people remain in financial challenges because they are quick to offer reasons why suggested solutions to their problems can’t possibly work. The need to save regularly is an area that is particularly prone to imaginative excuse-making. Here are some common excuses: Continue reading Stop Making Excuses about Saving →

Are you Financially Distressed?

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Are you dissatisfied with your present financial situation? Are you worried that you can’t pay for your regular monthly living expenses? Are you afraid that you won’t be able to find money to cover an emergency? Do you make spending or investing choices that you regret? When you think about money, do you feel overwhelmed, scared or depressed?

If you answered yes to one or more of these questions, then chances are you’re financially distressed.

Financial distress occurs when you have negative feelings and reactions to your financial situation. These emotions are usually the result of unhealthy money practices that can have a damaging impact on your financial well-being or wellness. Continue reading Are you Financially Distressed? →

Mission: H.O.P.E. – The Prosperity Club

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Last week I revealed that I had made a conscious decision to reject the prevailing negativity of these times and focus instead on positive thoughts about wealth, money, and prosperity. Using the affirmation “Prosperity is mine in 2009,” let us channel our energies into creating solutions instead of complaining about our problems; and expecting opportunities instead of experiencing fear.

For the rest of this month, Your Money will expose people and organizations that are helping others to rise above their limitations to succeed and prosper. Our theme will be:   Mission:   H.O.P.E. – Helping Others to Prosper and Excel.

I regularly give presentations to companies and organizations to educate their team members about financial success principles. When I speak to many young people they seem to be overwhelmed by the negative occurrences in Jamaica, and appear to have given up hope that it is possible for them to have a brighter future. Continue reading Mission: H.O.P.E. – The Prosperity Club →

Prosperity is Mine in 2009!

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“If we had no winter, the spring would not be so pleasant: if we did not sometimes taste of adversity, prosperity would not be so welcome.” – Anne Bradstreet, British poet

The eventful year 2008 is now history. Some people might whisper “good riddance”, as they reflect on the financial challenges of this tumultuous 12-month period. As the reports of another year of austerity permeate the air, I am now declaring that this does not have to be our reality. Instead, let’s all pronounce that “Prosperity is mine in 2009!”

I must confess that I am tired of all the negative financial reports that prophesy financial doom and gloom. It’s not that I don’t recognise the severity of the economic crunch; I am concerned about the persons who are facing redundancy, foreclosure or mounting debt, and the businesses which are finding it difficult to remain viable.

However, as someone who understands and has experienced the law of attraction, which states that whatever you concentrate on will multiply in your life, I’m more concerned about the self-fulfilling nature of problem-centric thinking. Continue reading Prosperity is Mine in 2009! →