![]() On the surface it may seem as far apart as possible.īut in reality, it really was the making of me and so many: the humble lessons we learnt in the power of simplicity, ease, flexibility and resilience. ![]() I thought of all of this as someone asked me whether my life in Grenada had prepared me for work in the metropolis. ![]() It was really no problem: I travelled to our fishing capital a few miles away to get more cash and ended up exposing my children to the business and adventure of boats, bait and catch.Īnd in spite of it all, the fishermen’s hauls were still depleted, the street food vendors sold out of roasted corn and souse* and our local bars, our “rum shops” were still packed. On Friday, the last working day before I left, the only cash machine in the area for a few miles was down and I needed to pay some tourist taxes. Many lament the pace but it is notable that the wheels of life and commerce still manage to turn. Meat is still butchered and sold on the spot at our village square. In my town we have no large supermarkets, no malls, no shopping centres, no frantic showcases of mass buying. There are still no playgrounds in my neck of the woods: games are spontaneous and adventures are curated loudly in shouting matches on streets. Young children still walk to and fro from school unaccompanied by the anxiety of helicopter parents. See, (and some may complain about this) but not much has changed in my village. It is bittersweet as I am always thankful to get back to the life I have built in London but I continue to find such joy in the simplicity and ease of island life. When inflation exceeds your interest rate, YOU'RE LOSING MONEY.My family and I flew back from Grenada on Sunday after the holidays. The current annual inflation rate in CANADA is 5%Īnd the best savings accounts pay 0.5% interest So here's where the math doesn't add up for the smart saver: It's why grandma used to buy a Coke for a quarter. Over the last century, it averages 2% per year. More demand than supply drives costs of goods up.Īnd when costs rise, your money buys less. Inflation is the result of increased demand in an economy. That savings account is robbing you blind. Proudly, watching your money grow in a savings account? Having debt and investing are not mutually exclusive. If debt carriers dismiss investing, they'll stay poor forever. People will argue about interest rates vs. On the day your debt is paid off, you have savings too. To start, put $900 to your debt, and $100 to investing.Īs your debt decreases, you can shift your allocation.Įventually, the whole amount goes to investing. So don't let debt keep you out of the market entirely.ĭecide what you can contribute to debt & investing together. Of course it's important to pay your debts. Meanwhile, a habit could have been established. Message me to learn more about these dividend-invesment plans which can have multiple tax benefits and guaranteed growth.īecause that will keep most people from EVER investing. So figure out what your cash savings really need to be. Meanwhile, your money could be working for you. They invest your money, for their benefit. See, when you don't put your money to work for you, your bank puts YOUR MONEY to work for THEM.īecause banks are big, huge profit machines.Ī ton of bank profits come from money sitting in savings accounts just like yours. ❌ Too much money in a boring old savings account ❌īecause money is always working in the background. Most people are proud of their savings accounts.īut I'll tell you what doesn't make sense.
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