Food For Thought

Image via Wikipedia

A few weeks ago, the Jamaica Gleaner ran an excellent piece in Money Management: You are financially unprepared if....

I have found that some people have great intentions with regard to money management, but have not fully grasped the context of how the various pieces fit together. For example:

• So maybe they go looking for great deals, but charge purchases on credit cards and pay only the minimum until it is paid off. That defeats the purpose of money management.
  

• Others, have a difficult time prioritizing and saving a nest egg, because they see the "now" and not the "what if". That also defeats the purpose of money management

In this piece above stated, the author gives a great job of spelling out where people typically make the big mistakes, and her opinion of what you should do. I would not necessarily advocate every single one of her solutions concurrently, because it really depends on your personal circumstances. However, the basic arguments she makes are very sound.

A worthwhile read!