Tag Archives: personal finance

True Grit Brings Financial Success

Recently, a reader shared that his secret for success was based on the four-letter word ‘grit’. His recipe to get ahead in life was to stay focused on his tasks, find ways to overcome any obstacles that might arise along the way, and work diligently and consistently until his goals were realised.

Speaking on a TED Talks Educational video, psychologist Angela Lee Duckworth explained that grit is “passion and perseverance for very long-term goals.” Grit is having the stamina to keep working at your important tasks every day, over many years, until you have accomplished your objectives.

Duckworth, an assistant professor at the University of Pennsylvania who researches educational achievement, posited that grit is a better indicator of a student’s success than factors such as IQ. This trait may be even more critical than natural abilities or other determinants of achievement. Continue reading True Grit Brings Financial Success

OCPD Can Wreak Havoc in Business

Jennifer walked over to her assistant’s desk with an obvious look of frustration on her face. “Kathy, there are too many grammatical errors in this report. The line spacing is not consistent and we should use bullet points to shorten some of the paragraphs. Please redo it immediately!”

“But Miss Thomas, remember that Mr. Rogers needs to get the document right now so that he can complete his submission to the new clients,” Kathy countered. “The deadline is a few hours away, and if I stop to make those small changes, we might miss getting this major contract.”

Sighing loudly, Jennifer responded firmly, “What you need to remember is that we don’t send out imperfect work from this department. Do it right the first time, or don’t do it at all.” “In fact,” she bristled, “I will do it myself. I should know better than to let you work on such an important project.” Continue reading OCPD Can Wreak Havoc in Business

Don’t Settle for Less – Aim Higher

Recently, I conducted a training session for sales persons from various Caribbean countries, where I outlined the budgeting techniques which would allow them to manage their income effectively. I also demonstrated how using a budget could help them to set and achieve their sales goals.

One participant from a smaller island explained that it was hard to stick to her budget because she often received widely fluctuating bills from a utility company in her country. She could pay as much as fifty per cent more on a bill, without actually increasing her usage of the service.

“How can you manage your money when your budgeted expenses are not consistent?” she asked. Continue reading Don’t Settle for Less – Aim Higher

Money Mission: Complete Your Tasks

At the start of every month, we have been looking at a specific issue that can affect your ability to accomplish the goals which you resolved to work on for this year. You can only make progress with your objectives if you continually place them in the forefront of your mind.

One major challenge to goal achievement is our propensity to get started on a project but give up on the process before it is complete. We get a sense of satisfaction once we begin carrying out the required steps, feeling content enough to know that we have started on the road to success.

Cross over the goal line
We may excuse the fact that we actually never finished the task at hand, saying that we are still on track. However, when it comes to goal achievement, you don’t get a ‘good effort’ in your homework book just for trying. A goal that’s only partially completed is a goal that has not been achieved. Continue reading Money Mission: Complete Your Tasks

Financial Freedom at Last!

On August 1, our nation commemorated another Emancipation Day; a time when Jamaicans can reflect on the challenging periods in our country’s history and give thanks that the practice of human slavery was abolished. Personal freedom is a right that we should never take for granted.

According to Dictionary.com, ’emancipate’ means to free from bondage, restraint or influence. A person who has been held back by a restrictive system, physical impediment or an inhibiting force will be emancipated when the thing that prevents him from moving freely is eliminated.

While we can celebrate the fact that our citizens are no longer bound by the organised structure of slavery, the reality is that many persons are still shackled by the chains of financial bondage. Their money problems hinder them from living their desired lifestyles and accomplishing their goals. Continue reading Financial Freedom at Last!

Is Your Financial Life a Circus?

Recently, thousands of Jamaicans got the opportunity to experience a variety of circus performers in action at Circus in the City held in Kingston. Energetic acrobats, daring stuntmen, amusing clowns and a mesmerising magician were some of the acts which were present at the event.

As I watched the performers entertain the audience with their skilful feats, I recognised that there were certain similarities between the circus activities and the many challenges people face with money. Here are some of the ways in which your financial world could be likened to a circus:

JUGGLING OBJECTS

Juggling is the art of manipulating several objects at once with your hands. The circus juggler uses extreme dexterity to toss several balls, clubs, rings or other props into the air, without letting the items touch the ground. It is one of the oldest forms of entertainment practised throughout the ages. Continue reading Is Your Financial Life a Circus?

The Slight Edge Brings Major Results


I have often wondered why some people seem to get ahead in the game of life, while many others only sit on the sidelines and watch life pass them by. What is the defining factor that allows two persons with similar circumstances and opportunities to achieve vastly different results?

As a money coach, I usually search for strategies to help people to accomplish their personal and financial objectives. There is a wealth of information about goal achievement available in books, CDs, training programmes and on the Internet for anyone who wants to learn more about this topic.

Searching for the right formula
I recently read a resource that appeared to hold the answer to one of my basic questions about personal achievement. In his book, The Slight Edge, businessman and author Jeff Olson promised to reveal the one secret component that could help people to achieve success in life. Continue reading The Slight Edge Brings Major Results

A Dollar for Your Thoughts

The phrase “a penny for your thoughts” is usually expressed when asking someone to voice an opinion on an issue being discussed, or when trying to discover the ideas which might be occupying the mind of someone lost in deep contemplation.

The earliest recorded use of the idiom is traced back to the 16th century when a United States penny, or one cent, was much more valuable than it is today. Given the current purchasing power of a penny, it might be considered almost disdainful to offer someone a cent for their opinions!

Our falling Jamaican dollar

I recently recalled this old saying when the rate of exchange of the Jamaican dollar to the United States counterpart first traded at about $100 for US$1 in June 2013. Our embattled currency symbol, which now had a value of less than one US penny, had hit a dismal new low. Continue reading A Dollar for Your Thoughts

Money Mission: Lose Your Excuses!

We’re now at the halfway mark in the year, and it’s incredible that six months have already passed us by. Time marches steadily on and it certainly isn’t waiting on us to join the parade! The year 2013 will disappear before you realise it; how successful have you been at keeping your resolutions?

In assessing the actions you have taken thus far towards achieving your goals, how would you rate your progress? Are you enthusiastic about your development, underwhelmed with your results, or have you simply resigned yourself to yet another year of missed opportunities?

Six months to succeed
The good news is that you still have the ability to make this year count; there are still six months left to pursue your objectives. It’s now a great time to identify the recurring issues which may prevent you from moving forward, and refocus your energies towards success. Continue reading Money Mission: Lose Your Excuses!

Business Lessons from the NBA Finals

I enjoy watching several sports, and I especially appreciate basketball for its fast-paced action. It’s quite entertaining to observe the highly competitive players battle with drive and determination for over 48 minutes, until one team achieves its ultimate objective of winning the game.

Recently, Game 6 of the 2013 NBA finals, which was fiercely contested by the Miami Heat and the San Antonio Spurs, gave me much more than just vicarious pleasure. I was extremely inspired by the action, as I marvelled at the twists and turns of one of the finest games in basketball history.

As the game progressed along to its nail-biting conclusion, I realised that the setbacks and successes the teams had experienced provided several lessons that could be applied to the world of business. Here are some of the entrepreneurial insights that I gained from the NBA finals: Continue reading Business Lessons from the NBA Finals