Thursday, May 30, 2013

Why US Currency Is So Hard to Come By in T&T

Average Trinbagonians who are not well connected or have friends or acquaintances who work in the commercial banks will all attest to the difficulty in getting foreign currency on demand. 

If $US cash is required for any purpose including travel or trade you are also subjected to waiting list and limited quantities or only granted $US if you are lucky or you encounter a "generous" teller.

This phenomena though unfortunate and inconvenient is to be expected when one observes current economic and foreign exchange market dynamics.

Sunday, May 19, 2013

The Compounding Effect of Your Self Investment

Excerpts From A Speech Delivered At St Joseph Boy's RC Primary School 2009 Graduation Ceremony - Themed Realizing Your Self-Worth

..... Good morning my dear teachers, parents, guests. It gives me great pleasure to share with you this morning my personal perspectives on realizing ones true self worth. 

I am fully convinced that we often times underestimate our true self worth since we do not consider or discount the direct or indirect impact our personal investments have on others. We are often times guilty of viewing the fruits of our own labour in terms of the direct impact on ourselves.

Therefore, we often times rationalise that if I study my work I will do well, I will come first, I will get that PS3, I will become a Doctor, I will make a lot of money. However, we fail to consider the positive decisions we make have far reaching implications in terms of its impact on others.

Friday, May 10, 2013

5 Reasons Why You Should Avoid Credit Cards

There's no free lunch and only one way to create wealth i.e. to produce more than you consume. A credit card assist you in doing exactly the opposite. 


1. You spend more when you use credit cards. The psychological impact of dollar bills leaving your hand is more potent than swiping and signing a piece of paper to complete your purchase. 
This occurs because it easily facilitates the deferring of pain to a later date rather than enduring the pain / loss of resources right immediately. In fact a study of credit card use at McDonald’s for example found that people spent 47% more when using credit instead of cash. This is money you could have saved!