For a better experience on CFAL, update your browser. For a better experience on CFAL, update your browser. Debt often gets a bad name but not all debt is equal. In some cases, borrowing money can help you move forward, build something important or create new opportunities. In other cases, debt can become a burden that drains your income, limits your choices, and causes stress.
In simple terms, risk versus reward measures the trade-off between the possibility of losing money and the potential for financial gain. It is this concept that helps financial advisors determine your risk tolerance. Essentially, how much uncertainty you are willing to accept in exchange for a potential reward.
Borrowing money is not always a bad thing. A mortgage can help a family buy a home. A car loan can make it possible to get to work. A credit card can help cover emergencies when used carefully. The important thing is understanding how interest and time change the real cost.
The next time you catch yourself wondering where all your money went, resist the urge to say "I'm broke." Instead, ask a more useful question: Can I actually afford that — or have I just gotten used to spending like I can? The answer, more often than not, will point you toward your next financial decision.
In today’s financial landscape, it is easy to be impressed by the numbers on paper, net worth statements that seem to promise security and status. But the true measure of financial health goes beyond what is listed in your assets’ column.
Investing is not a one-time “get-rich-quick” endeavor, but an ongoing process. After you start, the goal is to stay invested, contribute regularly, and adjust as your goals and time horizon change.
No one can plan for every eventuality. You cannot predict your health, no matter how well you care for your body. But you can plan for the financial realities that may come with any surprise life may throw your way.
The effects of the “keeping up” mentality are not always obvious. Instead of reckless spending, its impact is often felt in what quietly gets neglected. Savings become sporadic, emergency funds remain underfunded, and retirement contributions are postponed. Investing for the future becomes an afterthought.
During this time, many promises will be made and many claims will be repeated, which makes one thing certain: the right questions must be asked. With that in mind, I sat down with Pamela Ferguson, vice president of investments, and Angelo Butler, manager of corporate advisory services, to ask the pertinent questions about the economy that every vot...
Cryptocurrencies are very volatile and one must have a relatively high-risk tolerance to invest in these. Volatility refers to how much and how quickly the price of an asset moves. Traditional investments like large, established stocks or bonds tend to move relatively gradually. In contrast, alternative assets like Bitcoin have shown significant vo...
It is quite easy to fall prey to financial scams that promise big returns. Most people living paycheck to paycheck would run quickly toward any opportunity to make more money, faster. But it’s that urge to get more and more, faster and faster, that often leads to losing more than you ever set out to gain.
Credit cards are not just convenient spending tools, but a direct reflection of how you manage your money and your financial discipline.
We often hear people lament that January is the longest month of the year. The holiday high starts to weaken, and most people come face to face with the consequences of the decisions they made at the end of the previous year. We’ve all seen the memes casting a joking light on how your December salary must last through what feels like added weeks th...
We have entered the season of giving, a time when generosity and gratitude take center stage. While it’s important to stay focused on maintaining your personal financial goals, it is equally important to consider how giving back can fit within your overall financial plan. Some of the world’s most successful individuals and families have long recogn...
Having children represents an important milestone for many families. However, expanding the family unit can significantly affect household finances. In light of rising expenses associated with child-rearing, many couples are choosing to postpone parenthood. According to a 2022 study from The Brookings Institution, a middle-income family can expect...
In a few days, The Bahamas will celebrate 52 years of independence. Each year around this time, Bahamians take stock of what the country has achieved since we cut our colonial ties more than half a century ago; but this is also a good time for individuals to take stock of their personal goals and achievements.
When we think about retirement, we often imagine a life of leisure after decades of hard work. However, for many people, the reality is far from this ideal. With the rising cost of living, economic uncertainty, and shifting social dynamics, the question becomes: Will you be able to retire with confidence in the future? We explore the concept of...
While there are many paths to achieving your ideal version of wealth, there are a and handful of habits practiced by those who have already attained their financial goals that the average person can adopt in their day-to-day life to have the same level of contentment that even the wealthiest people have. These habits are not trendy or flashy, but t...
Investing has long been a space dominated by men, and despite progress, women still tend to invest at a lower rate, particularly in equities. The most recent data from the Central Bank of The Bahamas in 2019 revealed that while women are 51% more likely to save for the long-term than their male counterparts, only 36% of investors in The Bahamas are...
Purchasing a home is a dream for many and is also considered a great marker of personal success. But when you consider the rising costs of real estate and limited wage growth in The Bahamas, the dream of homeownership can seem unattainable. Recent news reports have pointed to new data from the International Monetary Fund (IMF) which revealed that f...
People the world over use the start of a new year to set personal goals. Many resolve to improve their health and fitness habits, travel, or to spend more time doing things they love. The start of a new year is also the perfect time to press the reset button on your finances. Whether you want to pay off debt, save more, invest, or simply improve ho...
As our U.S. neighbors prepare for their upcoming election, it’s a good time to reflect on the parallels between voting and investing. Voting isn’t merely a civic responsibility; it’s an investment in the future of our community.
Children throughout The Bahamas are now back in the classroom; however, they are missing one key component to give them a well-rounded education, personal finance education. Basic personal financial education is an essential life skill that has become increasingly important in today’s complex economic environment.
Our friendships, family, and community profoundly influence our financial decisions. Like children, our behavior is often a mirror of the environment in which we were raised, and the values we were taught. This behavior often continues into adulthood, and we tend to reflect the habits and attitudes of those around us when it comes to money...
In a significant move towards modernizing the electrical infrastructure on New Providence, the government entered into a 25-year agreement contract with Pike Corporation to upgrade and manage Bahamas Power and Light’s (BPL) transmission and distribution (T&D) system through a special purpose vehicle (SPV) called Bahamas Grid Company.
With schools winding down, students looking forward to soaking in the dog days of summer poolside and high school grads gearing up for a new adventurous chapter in their lives, parents are without a doubt reflecting on how they can best give their children a leg up in life.
To retire in your 30s, understanding your specific needs and goals is crucial. We will explore important things you need to know in your journey toward a successful retirement.
With April observed as Financial Literacy Month, we’ll delve into strategies you can implement that can make you become more financially resilient, particularly in the event of financial setbacks.
This month is International Women’s Month. Over the month, our blogs will focus on financial planning tips for women. Saving for retirement is important for everyone. However, women have some unique challenges when it comes to planning for retirement.
At the end of each year we take time to reflect on our behavior and achievements, or lack thereof, in the outgoing year and resolve to improve in the new year by setting fresh goals or revisiting old ones. This blog post will explore a few of the best financial resolutions that you can commit to next year.
