Getting out of debt the easy way – Jamaican Budgeting 101

Frugal

Many people find themselves in debt because of one reason only. Wanton Spending. You spend too much.  You have spent years living excessively, now it’s time to be frugal. Persons tend to define frugal as being cheap, I do not like that definition. I like to think of it as spending your money wisely.

So here go let’s start by getting you to spend more wisely and living less on credit.

  1. Stop trust. Trust is a Jamaican word which means credit. Say after me I shall borrow no more. I shall take people things to pay them at a later date no more. Even if they are forcing it on me I will shut my eyes take a deep breath and say no.
  2. Never ever leave home to grocery shop without a list. Scrap that, never leave home without a list. No list means thou shall not buy anything. Jamaicans are a unique breed. They will leave home to go to the supermarket and they return with clothes, no grocery in sight. If the item is not on your list do not buy it.
  3. Thou shall cool off of the chattings. Jamaicans love to talk, yes we chat nuff. Well talking cost. Rule if it is not a business call then there is a 3 minutes rule. After 3 minutes the call ends. And don’t be smart and call back the person to spend another 3 minutes. Use facebook messenger, WhatsApp etc. avoid making unnecessary phone calls.
  4. Stop making the TV watch you. Yes, we like to go in a room turn on the TV and leave it to go, cook, to chat or to go to sleep. If you are not watching the TV please to turn it off. Better yet use sleep timer. It will turn off the TV automatically after a set time.
  5. Expensive doesn’t mean special. Jamaicans are of the notion that the more expensive an item is the more it means that the person is special. Stop it, a lie. Sometimes all the person want is our time or something we put effort into. So for your love one special day, schedule a special dinner (if it’s your husband/partner throw in some candle lights, lingerie,  whip cream and blindfolds, maybe handcuff too), picnic.

Will continue in the next article (practising cutting down on my chatting)

Need help creating a budget? Shoot me an email shawnakay.mills@financialassistantja.com

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