Tag Archives: shopping

Holiday Reality Check for Kids

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It’s often been said that the Christmas holiday period is best enjoyed by children (or those who are young at heart!) Most youngsters look forward to a visit from Santa Claus, who travels around the world on one special night, rewarding all the good kids with the presents they wished for.

Many other children, who are old enough to realise that the celebrated tale is just a fantasy, still expect to see their brightly wrapped gifts under the tree on Christmas morning. Going out to a few parties or festive events is also a major part of the seasonal excitement that children really want to enjoy.

For most parents or caregivers, the squeals of delight and enthusiastic hugs that they receive from their satisfied kids help to make the holidays extra special. I believe that there are very few adults who would willingly take away their children’s joy by denying them their heart’s desire at Christmas. Continue reading Holiday Reality Check for Kids →

More Money: Get Paid to Shop

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Many people are feeling a tight squeeze on their pockets as their spending power decreases in line with the increasing cost of goods and services. Unfortunately, most of us don’t have incomes that automatically adjust to inflation, so it means that what we earn can buy fewer items each month. How can we maintain our standard of living in light of this reality?

To stay on top of rising costs, you need to create a budget plan for the year and track your expenses every month. When you consistently record your actual spending, you will quickly be able to ascertain when your bills start to increase. You can download a budget plan with a monthly tracking spreadsheet at www.financiallysmart.org.

Rebalancing your budget

When the expenditure side of your budget goes up, your first strategy is to try and rebalance it by cutting back on other costs. Apply conservation strategies to reduce your utility bills, plan your driving routes to use less petrol, and make drastic reductions on non-essential expenses such as cable TV, fast-food restaurants and mobile phone calls. Continue reading More Money: Get Paid to Shop →

Six questions to ask before you spend

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I recently had a heart-warming conversation with a reader who lives in the inner-city community of Trench Town, in Kingston Jamaica. I met Nicolini Williams two years ago when he participated in a financial literacy training I was offering to members of the Miracle Club, the youth mentorship arm of the Agency for Inner-city Renewal based in that area.

Now a first-year law student, this brilliant young man shared with me how much he had gained from learning the principles of money success. Williams explained that he had not grown up in a home where financial management was taught or even mentioned, and consequently, he often squandered money on unnecessary items.

After being exposed to new concepts about smart financial habits, Williams was able to identify his negative attitudes and actions regarding money. He realised that if he continued to seek more information about success principles and applied what he had learned, he could eventually break free from his financial problems. Continue reading Six questions to ask before you spend →

More Money Values for Kids

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“Recently my teenaged daughter begged me to take her shopping for clothes for a party. All the outfits she wanted would have cost at least J$15,000, and I refused to spend that much money. Although I told her that I couldn’t afford it, she insisted that I use my credit card and pay for it later, as her friends’ parents do. I’m very worried about her attitude towards money. What can I do to correct this?”

Last week we looked at how many of our children were getting caught up in the massive spending spree that has overtaken Jamaica. They are heavily influenced by the ‘bling’ culture that’s portrayed daily in the media, and they can feel inadequate if they are not able to buy the latest fads.

Unfortunately, some parents are helping to feed this consumer spending habit by accommodating their children too much and giving them everything they want regardless of the price. It sometimes seems that the adults are trying to make up for all the things they didn’t have as children, by overspending on their own kids.

In order to raise financially savvy and independent children, it is very important that we teach them the right values about money.

Continue reading More Money Values for Kids →