Tag Archives: personal finance

Don’t forget your taxes!

Business Success, , , ,

Ahhh. tax time is back – that time when we all look forward to remitting our dues to the tax authorities to ensure that we are compliant. Well, maybe that’s how the Tax Administration would like us to feel as the March 15 annual income tax deadline draws near, but the reality is that nobody really likes paying taxes!

This year, the deadline will be extended to March 16, as the statutory date falls on a Sunday. If you haven’t given your taxes a thought yet, it’s still not too late to do something about it. Here are some tips to make the tax payment process a little easier: Continue reading Don’t forget your taxes! →

Needed: A National Financial Literacy Programme

Financial Literacy, , , , ,

“I’m 50 years old and I know I have not always made the best financial decisions. I have a lot of credit card debt and recently lost some money that wasn’t even mine in an alternative investment scheme.

“Now that I’m approaching retirement I realise that I’m in serious trouble, but I really don’t know how to do any better. Is it possible to learn how to manage my money properly?”

Congratulations on your honesty in admitting that you have not been the best steward of your money. However, you shouldn’t feel too discouraged, as most people make money mistakes throughout their lifetime.

Your story is quite familiar to me. For many years I, too, was guilty of making poor financial decisions. In fact, I was probably worse off than you, because I was clueless about the extent of my money problems.

I was fortunate to become employed to a leading financial institution, where for the first time I encountered persons who were money-savvy. I then began a journey to learn what other people knew about moneymaking that I was definitely unaware of. Continue reading Needed: A National Financial Literacy Programme →

How To Optimise Your Operations

Business Success, , , , , , , , ,

Over the past two weeks, we have been focusing on strategies that small business owners can implement to counter the negative effects of the global economic downturn. If the going is getting tough for your business, it’s time for you to get innovative in meeting your customers’ needs and publicising your products and services.

To ensure that your business can survive and even succeed in challenging financial times, you have to focus on the efficiency of your operations. Under normal circumstances, small businesses falter and fail from using improper procedures and expensive processes. In this period of economic uncertainty it is vital for your business to become a lean, cost-effective machine.

One of the most pressing concerns for small businesses is maintaining a positive cash flow. As the saying goes, ‘Cash is king,’ and to survive a financial downturn, entrepreneurs must have a good handle on incoming and outgoing cash. Even a minor reduction in sales can trigger off the inability to meet bills, source raw materials and generally stay afloat. Continue reading How To Optimise Your Operations →

How To Maximise Your Marketing

Business Success, , , , , , , , , ,

As the reports of company shutdowns and employee layoffs continue to dominate the financial news worldwide, it would be understandable for small business owners to feel slightly panicked about their future. How can they possibly survive, much less succeed, in the middle of a global recession?

Last week we explained that entrepreneurs can weather the economic storms by adjusting their offerings to meet changing customer needs. In fact, small businesses can be more flexible at creating innovative products or services to take advantage of new opportunities, unlike many large enterprises.

Once your product or service is designed to meet the current needs of your customers, the next step is to maximise your marketing. Many organisations look to cut costs by reducing their marketing budgets, but to outlast the tough times, you actually have to increase your promotional efforts. Continue reading How To Maximise Your Marketing →

Surviving and Succeeding in Business

Business Success, , , , ,

Many persons have decided to cut back on their discretionary spending due to declining consumer confidence, job losses, and general uncertainty about the financial future. This tightening of the purse strings has left several business owners in a quandary, as they contemplate how they will survive if their customers stop buying.

In light of the various challenges that small operators face even in good times, is it realistic for them to hope that they can weather this economic storm? Is it actually possible that they could come out ahead of the game when normality returns?

In nature, where survival of the fittest is the rule, living species have to adjust and alter their actions, and even improve their genetic makeup, in order to continue existing. In the same way, businesses must have the flexibility to adapt to this new, challenging environment if they are going to survive. Continue reading Surviving and Succeeding in Business →

Life After Layoffs

Budgeting, , , , ,

The days and weeks of watching and worrying have finally come to an end. Your worst fears have been realised – your name is on that dreaded layoff list. In an instant, your occupational status has been altered. You have joined the increasing ranks of the unemployed.

Being laid off can be a traumatic experience. Anxiety about the loss of a steady income, coupled with feelings of rejection and unworthiness can send some newly laid off persons into depression and despair. For others, a job is really more than just a bill-paying source, it helps to define them and give them a sense of purpose.

As with any other negative event in life, the way to survive a job loss is to adjust your attitude and adopt a positive outlook. If you allow the circumstances to overcome you, you will not be able to see the opportunities that exist within every challenge. Despite the situation, you must always keep hope alive that better days will come.

If you have recently lost your job or you fear the advent of the unemployment line, here is a seven-step guide to help you to recover from redundancy: Continue reading Life After Layoffs →

Mission: H.O.P.E. – Righting the Wrong Address

Income Creation, , , , ,

Tried to get a job today but
When dem see the application dem say
If this is really where you reside
Please step outside
She asked them why
And they replied…

We don’t want no trouble
We don’t want no trouble, no day
Cause lady where you come from
People die there everyday
For our safety that’s where you should stay
“Wrong Address” – Etana

During January, Your Money has turned the spotlight on organizations and persons that are helping others to conquer their challenges and succeed despite setbacks. Under the theme Mission: H.O.P.E. – Helping Others to Prosper and Excel, we have shown that it is possible for us to combine positive thinking with practical training to achieve our financial goals.

There are still major challenges facing some Jamaicans, who in spite of demonstrating the right attitudes, face overwhelming roadblocks along their journey to economic achievement. For many inner city residents, being born in poverty may seem like a verdict that sentences them to forever remain in financial distress. Continue reading Mission: H.O.P.E. – Righting the Wrong Address →

Keep Hope Alive!

Wealth, , , , , , , ,

“After reading your column last week on The Prosperity Club, I proceeded to say out aloud, ‘My highest good comes to me now and I am most grateful.’ Shortly after saying the affirmation, I got a call that I had two new clients. Positive affirmation really works and I am grateful for these words of hope!” – Reader

Since the start of 2009, we have been focusing on the importance of having a positive outlook despite the negative economic forecasts. Some may argue that positivity can’t change reality, and that the global financial crisis will present serious challenges no matter what we say or believe.

Making a determined effort to concentrate on what you want to achieve in your life, instead of dwelling on your fears, is more than an exercise of faith. When you worry constantly about your problems, you are creating a spirit of despair, which is a negative force that prevents you from seeing a way out of your trouble.

If you can think positively even if your world is crashing around you, then you will produce a hopeful spirit which will direct your brain to seek solutions.

Continue reading Keep Hope Alive! →

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

Money & Your Mind, , , , , ,

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!

Money & Your Mind, , , , , , ,

“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! →