Tag Archives: personal finance

Money Alternatives

Spending, , , , , ,

A concern expressed by many people in these challenging economic times is that they just don’t have enough money to take care of their needs. While the supermarket tabs and the utility bills are constantly rising, the income amount remains static. It may therefore be difficult for the average person to find practical ways to get more money to offset this perpetual shortfall.

It seems that our lives are consumed by the never-ending pursuit of money. Employees work at jobs they dislike to receive a pay cheque; business owners sacrifice family and leisure time to increase profits; dishonest persons design schemes to acquire ill-gotten gains; and the authorities raise taxes to increase the flow into government’s coffers.

This financial reality led me to consider our need for money. The quotation from the hit musical Cabaret, “money makes the world go ’round” is very appropriate, as it almost feels like the Earth would grind to a screeching halt without the fuel of funds to keep it moving. How did money become such a central and indispensable part of our existence? Continue reading Money Alternatives →

Business Lessons Gangnam Style

Business Success, , , , , , , ,

Unless you have been living as a hermit for the past three months, (or just been really, really busy) you would have seen or at least heard of the music video Gangnam Style by South Korean artiste PSY. In a short time, this Internet phenomenon has captivated the hearts, minds and dance floors of millions of people around the world.

I got my first look at the popular dance moves while watching the ICC World Twenty20 cricket competition a few weeks ago. West Indian batsman Chris Gayle revealed snippets of the Gangnam Style during matches against Ireland and England, and then led the entire team in a spontaneous rendition as they celebrated their tournament win.

Intrigued about the origins of the dance, I checked online for more information, and was immediately captivated by the catchy tune found on YouTube. According to Wikipedia, Gangnam Style refers to a lifestyle associated with the Gangnam district in the capital city, Seoul, “where people are trendy, hip and exude a certain supposed class”. Continue reading Business Lessons Gangnam Style →

Money Mission: Stop Procrastinating!

Goals, , , , , , , ,

Isn’t it amazing how fast we have sped through 2012? It seems like just yesterday we were making optimistic declarations about our plans for the new year. Now, there are only 60 days left until this eventful year becomes history. Looking back on the past 10 months, would you say you have accomplished your goals?

Many of our wishful resolutions are destined to remain unfulfilled. If we took the time at the beginning of the year to assess our needs, think about viable solutions to our problems, and write down firm declarations to better our lives, why have over 300 days gone by without us taking action? Why did we let distractions and discouragements keep us from our achievements?

The answer to this age-old problem will vary, as persons may have different issues that affect their levels of motivation. Despite the situations that may have held you back in the past, you can still make an effort to work on some of your unfinished targets. You can make the rest of the year really count by tackling one or two of your incomplete objectives. Continue reading Money Mission: Stop Procrastinating! →

A Makeover For Your Money

Book Review, , , , , , ,

I like to watch television shows that present dramatic transformations in people’s lives. Whether the participants receive a home renovation, a wardrobe revolution or a personal renewal, it is very satisfying to observe the positive changes that take effect. It is also heartening to see that even the worst situations can often be resolved once the right treatments are applied.

If you have a problem with your vision, then a visit to the optometrist and the right eyeglass prescription will usually allow you to see clearly again. Similarly, if your financial future looks fuzzy, then you probably need to get the right remedy from a ‘money doctor.’ The Total Money Makeover by Dave Ramsey is definitely one book that can provide you with a cure for your money concerns.

Financial disasters can be fixed

If you are having challenges with money, I recommend that you read this book. It is interspersed with inspiring stories of persons who were facing severe financial crises and were saved by applying the Total Money Makeover plan. You might be encouraged to know that there are solutions for people with money problems that are even worse than yours. Continue reading A Makeover For Your Money →

A Fresh Financial Start

Goals, , , , , , , , ,

“Change will not come if we wait for some other person or some other time. We are the ones we’ve been waiting for; we are the change that we seek.” US President Barack Obama

Many people experience a sense of desperation when they think about their finances; past failures and present frustrations leave them feeling powerless about their financial future. With expenses increasing steadily, salaries depreciating with the dollar, and debt spiralling out of control, it’s no wonder so many persons are in distress.

Even if you are unhappy with your money history, it is very possible to “wheel and come again” as we say in Jamaica. Getting a fresh start with your finances begins with admitting your dissatisfaction with your situation and accepting that you may have made mistakes over the years which cost you dearly.

Once you have examined your past and present concerns, you need to decide that it’s time for a new beginning. As the quote from President Obama declares, change starts within; there is no one else out there who is going to miraculously fix your problems for you. Changing old habits can be challenging, so you have to be committed to continue with the course until complete. Continue reading A Fresh Financial Start →

New Beginnings

Budgeting, Goals, , , , , ,

If you have made a lot of mistakes in life, wouldn’t it wonderful to be able to wipe your slate clean and start anew? To be more technologically relevant, wouldn’t it be great to hit the delete button, remove the unwanted lines, and have a blank screen to create a different story?

I’m sure that there are many people who wish that they could change their financial history in this way.

The reality is that you’re stuck with your past whether it harbours good or bad money memories. There is no life eraser that will allow you to remove the errors of judgement that may have caused you to frivolously waste money, borrow too much, make unwise investments or overlook opportunities that could have brought you fulfilment and prosperity. Continue reading New Beginnings →

Money Mission: Get Honest About Your Money

Money & Your Mind, , , , , , , ,

Debbie shared a quick joke with the postman as she took the bundle of letters from his hands. “I long for the day when I can get some money in the mail instead of just more bills!” she said with a chuckle. The postman laughed heartily as he rode away, “The only way money will come in the mail is if you start buying lottery tickets!” he retorted.

As she closed the gate, Debbie ruffled through the items that had just been delivered. There was correspondence from the furniture store from which she had bought a new Smart TV on hire purchase, a letter from a loan recovery agency, two more from companies she did not recognise, and a green and white slip which indicated that she had received registered mail.

With an irritated sigh, she distractedly pushed the pile of envelopes into her kitchen drawer which was already stuffed with unopened mail. “I wish they would stop sending these stupid payment requests,” she muttered to herself. “I need something to lift my spirits.” Grabbing her smart phone, she started composing a BB message to her best friend Althea. Continue reading Money Mission: Get Honest About Your Money →

More Money: Teach What You Know

Income Creation, , , , , , , ,

Whenever I meet persons with expert knowledge that could benefit the wider society, I usually encourage them to find ways to earn by sharing their expertise with others. Too many people who are privy to specialised information tend to keep it to themselves, with the mistaken view that giving away their ‘trade secrets’ will prevent them from benefiting financially from their work.

Whether you are a craftsman using a lost art form, a teacher using successful training methods, or a nutritionist using natural remedies, if you only focus on serving your individual clients, there will always be a low ceiling on the income you can derive from your knowledge. In fact, when you die, your talent will pass on with you and will not be available to better the world.

If you have essential information that creates value for others, you should be looking for ways to spread your knowledge in a systematic way that will allow you to earn more money. Your income will increase in direct proportion to the number of people you serve, so you need to consider how to get many more persons to benefit from your expertise. Continue reading More Money: Teach What You Know →

Business Lessons from Ben’ Down Market

Business Success, , , , , , , ,

Recently, I travelled west to the parish of Trelawny, to find out more about the income-generating opportunities present in its capital town. A friend had told me of her success in selling some goods in a popular Wednesday sales venue in Falmouth, and I wanted to test the viability of a new product in the famed Ben’ Down Market.

As a resident of Kingston, I am sometimes guilty of thinking that the best economic activities take place in the first city. The reality is that there are many enterprising persons all across Jamaica who are creating wealth in a variety of ways. To learn more about what people were doing to make money in that side of the island, I decided to share market space with my colleague.

My adventure started off very early in the morning, as I was told that to secure a good spot we needed to be at the location by 5:00 am. The sun had not yet made an appearance when we arrived, but already there were dozens of persons working industriously in the bustling environs of the marketplace. Continue reading Business Lessons from Ben’ Down Market →

Money Thoughts Produce Money Results

Money & Your Mind, , , , , , ,

“For as he thinketh in his heart, so is he.” Proverbs 23:7

What do you think is your biggest problem with money? Is your income too small to take care of your everyday needs? Are your material desires always in excess of the money in your pocket? Is your bank account continually empty? Do you always have to borrow money to survive? Are you unable to accumulate enough funds to achieve your major financial goals?

Over several years of helping persons to improve their relationships with money, I have come to realise that the root cause of the financial issues they experience has little to do with figures and balances. For most people, the number one problem is not a lack of funds or viable opportunities. Instead, their major obstacle has to do with how they think about money. Continue reading Money Thoughts Produce Money Results →