Wendel Abel - I AM WHAT I THINK
These are harsh times. The international financial crisis is indeed having an impact on us here in Jamaica. Our relatives and friends abroad are also feeling the squeeze. The crash of the 'pyramid schemes' has made the burden worse. Many people are not talking about their losses but we can sense their pain as many of them have lost their entire life savings.
I have been giving a lot of thought to surviving these difficult times. I have also been speaking to several persons about their coping strategies.Here are some tips:
1. Make a budget. Many of us do not make a budget. However, a budget allows you to take decisions based on your available resources.
2. Shop from a list. Every time you go shopping make a list and stick to it. The shopping list will be especially handy during the Christmas holidays when gift-giving peaks.
3. Use cheaper petrol. Cheaper petrol for your motor vehicle is available. The cost of petrol is significantly cheaper below Cross Roads. Check it out. You will realise great savings.
4. Shop downtown. In many instances prices downtown are up to half of those for the same goods in uptown stores. Vegetables, fruits and clothes are cheaper in the market and shops downtown.
5. Charge nothing. Pay cash only. This is the best strategy during these hard times. If you find that you are using your credit cards to purchase everyday items, it means that you are in deep trouble.
6. Start paying your debt. The debt trap is a horrible one. When you are in debt, it's so easy to keep sinking. Develop a plan to tackle your debt. My grandmother often told me that it was her greatest pleasure to pay her debt and doing otherwise would be blocking her blessings.
7. Try garage sales. During hard times, garage sales become popular worldwide. You can make great finds at garage sales. One man's trash is another man's treasure. A garage sale can be a source of income.
8. Scale down. Are you struggling to pay your mortgage? You could consider moving into a smaller space and renting the house or apartment with the burdensome mortgage. The move could be a temporary decision as you have the option to move back into your home when the economy improves.
9. Time to let go. Many of us will be better able to weather these difficult times if we are prepared to let go. Sometimes, we have to let go to reduce burdens and pain. You may have to let go of the car, house, a relationship or your lifestyle.
10. When the going gets tough, the tough get going. Believe in yourself. Be creative. Don't give up. Think about ways to make some money in these hard times. People will always be buying and if you can be creative you may be able to sell goods or services.
For example, if you can bake, try making Christmas cakes this season. Package them nicely and offer them for sale at a reasonable price. You could also make gift baskets for sale. The going may be tough but we can all make it.
Dr Wendel Abel is a consultant psychiatrist and head, Section of Psychiatry, Dept. Of Community Health and Psychiatry, University of the West Indies; email: yourhealth@gleanerjm.com.
