Tag Archives: Suze Orman

The Past and Present Tense of Money

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The start of a new year usually fills our hearts with optimism and hope for a better future. I’ve always been fascinated by this phenomenon – why should this period inspire us to create lofty resolutions and ambitious declarations? Why do we anticipate that the fading old year will usher in bright beginnings?

There is no magic elixir that gets released on New Year’s Day; the first of January is just another 24 hours that will come and go, just like they did on December 31.

Despite our fervent wishes to exercise regularly, save more, be kinder to other people or pursue our dreams, chances are that after a few days of inspired activity, we will continue along the same old pathway as we did before.

The reality is that you can choose to transform your life at any time of the year. The date doesn’t make a difference; whether it’s February 28, April 13, or September 4, any day can symbolise that moment when you finally commit to do whatever it takes to effect the changes that you desire. Continue reading The Past and Present Tense of Money →

Can Your Past Influence Your Present Money Habits?

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“Your article about coping with parents’ money problems made me think about the bad money habits that I picked up from my father. My parents had different attitudes about money – my mother was a saver but my father spent all he had.

“I adored Dad and I wanted to be just like him; so I never saved and gave money away just like he did. I now see where this has hurt me because I have no money. I think people need to be aware of how their parents can influence their attitudes about money.”

Your finances are in serious disarray. You live from one pay cheque to the next. You give thanks for your credit card, as without it you wouldn’t even be able to buy petrol. You know that something is very wrong – you earn enough to save and live comfortably, but somehow financial success seems like an impossible dream.

You decide to get help to fix your money problems. Books, newspaper articles, television shows and Internet websites about money become your obsession. You even get professional financial advice.

Gradually you learn the steps you need to take to turn around your life. You start with a strong intention to do the right things, yet eventually, you go right back to your bad money behaviours. Continue reading Can Your Past Influence Your Present Money Habits? →

How To Manage Your Money

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In a recent column entitled “The 3 Ms of Money,” we discussed the principles of financial achievement – managing, multiplying and maintaining your money. Over the coming weeks, we will examine these three pathways to money success in greater detail.

The key to managing your money is knowing what to do with the money that you are already earning, so that you can comfortably pay your bills and work towards attaining your goals. There are four components to successful money management, which, like the ingredients in a recipe, are all essential to producing the perfect end result.

Budget properly

The first step in your journey to financial independence is to learn how to budget properly. A budget is a document that allows you to capture all the things you spend money on, along with your sources of income. The budget must be used as the basis for making all financial decisions. Continue reading How To Manage Your Money →

Free Yourself From Financial Fear

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“Emancipate yourselves from mental slavery, none but ourselves can free our minds.” Bob Marley

This week, as Jamaicans commemorate our emancipation from slavery and the birth of our independent nation, some of us might reflect on what it means to be free. Financial freedom can represent different things to different people, but there is a universal desire in most persons to be free from fear about money. Unfortunately, many of us are in bondage to our financial fears, and have no idea how to emancipate ourselves.

Bestselling author and personal finance guru, Suze Orman, looks at the role that fear plays in denying us the financial success we desire. In her book, The 9 Steps to Financial Freedom, she declares that “Almost all of us have fears or anxieties about money – but we rarely admit them to those around us. We may not admit them to ourselves.“

Orman points out that “because (our fears) are holding us back, preventing us from taking control of our financial lives, looking these fears in the eye is an essential step toward freedom.” Continue reading Free Yourself From Financial Fear →