​Spending your cents with sense in Jamaica – Budgeting 101

spending-clipart-money-winner-clipart-1Now you’re making more money, it doesn’t mean you have to run out and spend it.
Whether we realize it or not, to remain at monetary equilibrium the terms ‘cents’ and ‘sense’ must conform.

It was taught from the first grade, maybe even pre-school, that we possess five senses: the sense of seeing, hearing, tasting, smelling and touching but as our bones, mind and independent financial situations develop and we age, we are introduced to the sixth sense of astute expenditure.

However, like the five senses, we are well equipped with, this sixth sense has to be learned, practised and mastered to be in keeping with the financial situation at hand.

A simple analogy goes as thus,

Your bank account, like your skin contains many tiny nerve endings such as credit cards that create your sense of touch and when you experience sensations such as pain or heat or cold, or feel things that are soft or sticky or sharp, or in the financial realm when bills, responsibilities and the need to spend excessively arises the bottom layer of your skin, called the dermis, or in the financial realm the zipper on your purse or the pin on your credit card separating you from spending your way into infinity sends messages to your brain about the sensation, your brain in return emits a response. It is now up to you to learn which sensation is VIP – Vital, Important and is a Priority.

However, for astute expenditure to be practised, the following are advised to walk hand in hand:


Budgeting – a plan involving an estimate of expected income for spending for a given period of time.

Saving – Separating sums/a sum of money in aim of reaching a specific goal or for a specific reason

Investing – expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture.

Comparison shopping – Before speedily checking out of that online shopping site, read product reviews to learn about quality and the best value.

Elimination of expensive habits

Knowing when to spend more for quality

Having a clear objective of what you want to buy when shopping – avoid temptation and shopping for fun.

To  hereby master all aspects of the sixth sense, before swiping that card or unzipping that purse, ask yourself, “Suspend or Spend?”.That is the critical question.

Need help in budgeting how to spend your cent with sense? Shoot me a quick email at Shawna-kay.mills@financialassistantja.com




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