Reducating Jamaicans on Assets vs Liabilities
Reducating Jamaicans on Assets vs Liabilities. I witness a lot of young Jamaicans making some very detrimental financial decisions. These decisions seem to lack the basic understanding of assets and liabilities. They laden themselves with unnecessary financial burdens and liabilities simply to feed their ego or materialism. They make purchases of things that are not necessary to their survival or adding to their life in any meaningful way.
Most young Jamaicans will tell you they want to get rich. However, their financial decisions are contrary to their wish to get rich. Most young Jamaicans are coming from poor families that live pay checks to pay checks. They didn’t have anyone to teach them financial literacy. Taking this into consideration is why I decided to start the Yaad Finance blog and podcast.
I hope I can share some personal finance tips and tricks to save young Jamaicans from burdening themselves with financial liabilities, teach them how to save and launch businesses. I hope this will spur a different mindset in young Jamaicans.
Check out the podcast to see how it breaks down Assets and Liabilities and how things like car can be a very bad liability or great asset depending on how you approach buying and using said car.
Listen to Podcast Below.