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Dealing with debt problems, upcoming events and this week tip

Posted on November 13, 2017 at 11:30 AM

In this week’s blog (13th – 19th of November) we will expand more on personal debt problems we discussed in our last week’s blog and discuss how to deal with it; we will invite you to our upcoming Master Your Mind-platform session on the 16th of November; we will invite you to high recommended events like the workshops of Global Enterprise Week on the 15th of November; the webinar of SIGE on the 30th of November; the corporate governance masterclass on the 23rd and 24th of November; the Live2Lead event on the 25th of November and we will end with this week’s personal coaching tips.

Lack of awareness and budgetary literacy increases the risk to fall in a debt trap

In last week’s blog we expanded on what we consider a serious challenge, that is affecting parts of our society in an increasing matter. The debt problems of people in Curacao, which is present in all walks of life and not necessarily among the poor only, is increasing according to Jamir Barton based on his experiences. Jamir is one of our core group members of Share2Uplift.
Jamir: “What we are seeing is, that there is a lot of ignorance (people that don’t know that they don’t know) among people of the consequences of their borrowing habits. Partially because of the constant pressures of a society based on the consumption of all sorts of consumer goods and partially because of increasing aggressive sales pitches by lenders of money, makes it tough to not give in to all these temptations to borrow excessively”.

To balance this, Jamir is off the opinion, that there is a need to increase:

• awareness of the problem and

• financial literacy on the island.

By doing this it, this doesn’t necessary mean, that people will behave more responsible, but at least you can increase the chances, that people will behave more prudently.

To get an idea of mindset involved in this behavior, look at for example at 7 thrifty habits from the rich and financially balanced people and compared these with those whom have debt problems.

Check this link economictimes.indiatimes.com/wealth/plan/7-thrifty-habits-you-can-learn-from-the-rich/articleshow/58656377.cms

1. They live below their means;

2. They spend less on clothes, shoes, food;

3. They save & invest first, spend later;

4. They don’t carry much cash, use credit cards wisely;

5. They look for discounts, coupons and ways to cut costs;

6. They value quality over cost;

7. They donate, by all means, but first ensure their future by saving and investing.

People with debt problems usually do exactly the opposite.

But then, knowing what to do is a necessary, but not a sufficient condition to live financially balanced.
Jamir explains that in his program My Budget My Challenge: “At first the client has to be personally motivated, but at the other hand also willing to learn the necessary skills and abilities to change his behaviors on a personal level. The family will be involved and also motivated and where necessary also learn some tips to support the whole situation. When it comes to being frugal, it needs to be a family effort. Having educated family members goes a long way to saving money and better preparing all, especially the kids, for their financial futures. The incentives will need to be aligned and aimed at lasting chances. For example, if the employers would pay for the program under the condition that if the client falls of the wagon, the client will have to pay back fully the costs of the program, this might help the client to stay the course and change. And finally, we are having talks with official institutions to see what can be done to tighten up the local legal frameworks on the island. By law there is a maximum percentage (37 %) of the gross income someone can borrow money, but it needs further sharpening”, according to Jamir.

Employers needs to take the lead
In any case contrary to, for example Holland, where the government and municipalities play an important role in the debt relief of certain persons that qualify, the core group is of the opinion that on Curacao the employers should take the lead and help create finance awareness and offer budgetary literacy programs for their employees. The reason why is strictly business. Employees that are living with a manageable debt are less vulnerable to all the negative consequences like too much stress, loss in productivity… etc. that falling in the debt trap might cause, but they are also less vulnerable to take fraudulent actions.

For some more tips go to these links:
acultivatednest.com/10-frugal-habits-thrifty-people-nurture/ or moneyning.com/frugality/7-habits-of-highly-frugal-people/ or watch this video link of Dave Ramsey, a premiere advisor on personal debt, The Debt Is Not The Problem - Dave Ramsey Rant – YouTube /www.youtube.com/watch?v=n8lpLgWrHGQ and also his 9 tips www.youtube.com/watch?v=8dc-9Y9BToQ

Role of Share2Uplift
We firmly belief, that based on our personal experiences with clients that personal debt issues, need to be addressed urgently and that is why we offer via Jamir Barton JBF Consultancy this intervention program “My Budget My Challenge” to address all those in need of debt counseling. And we fully agree with Dave Ramsey it is not a numbers game, but a personal behavorial change (80 %) that is required. In that sense it is part of our overall effort to enable 21st century mindsets on Curacao. For more information on My Budget My Challenge call or email Jamir Barton, Jamir.barton@jbfconsultancy.com or 5999-6833279.

Our next Master Your Mind-platform session coming Thursday the 16th of November
On Thursday the 16th of November, we will present to you 2 new books focused on enabling changed mindsets, self-help and personal leadership. We will present to you the two Leadership books of John Maxwell:

The 360 degrees Leader, Developing Your Influence from Anywhere in the Organization;

Winning with People, Discover the People Principles that Work for You Every Time.

When: Thursday the 16th of November (the 3rd Thursday of the month)

Where: Biblioteka Nashonal

Time: 7 - 8.30 pm
Entrance Fee: FREE

We highly recommend GEW workshops

The Global Entrepreneurship Week (GEW) Curacao 2017 and recommend you to attend as many events as you can in the week of November 13th to November the 19th 2017. Go to their website www.gewcuracao.com for more information. Locally this event is organized by Fundashon Negoshi Pikina. See the following workshops being offered on the 15th of November.

We highly recommend the next Webinar of SIGE on the 30th of November
We would like to invite all especially teachers and parents for the upcoming next Webinar of SIGE (Sentro di Inovashon Guia Edukashonal).
These Webinars aim to inspire and expand the knowledge of teachers and parents.
On the 30-11-2017 “De toolbox voor het competentiegericht onderwijs”, 3.00 pm by Mrs. Lucille Hernandez.
Go to www.sige.cw or telephone 7386570/7472700 for more information on the upcoming webinars.

Highly recommended Masterclass corporate governance

Dates: 23 & 24 November 2017 | time: 8:00 - 17:00
Location: Kura Hulanda
Languages: Dutch, English and Papiamento
Trainers: Dr. Miguel Goede | Dieudonne van der Veen RA | Anthon Casperson MBA | Billy Pandt | Percy Pinedo MBA | Drs. Ivan Kuster | And others
Who should attend? CEO's, Members of Supervisory Boards, Advisers, Others
Languages: Dutch, English, Papiamentu
W. www.miguelgoede.com
E. www.miguelgoede.com/master-class-governance

M. (5999) 5616853 / SkypeID: miguelgoede

We highly recommend Live2Lead 2017 Rebroadcast 
November 25, 2017 @ The Cinemas Curaçao.
Registration – 8:00 AM
Event Begins – 8:30 AM
Break - 10:00AM - 10:30AM
Event Ends – 12:30PM
Place: The Cinemas / next to Renaissance Curaçao Resort, Otrobanda
Contribution: US $51.49 (incl. fee)
Buy your ticket: www.eventbrite.com/e/live2lead-curacao-tickets-
For more info call our core group member: Barbara via Email: influentianalenergy@gmail.com / mobile 5999 521 1055.

Personal Coaching tip
This week’s coaching tips are about how to manage stress and are mostly from Mark Waldman and also from Brian Tracey. Check also our Share2Uplift Facebook page where we will upload one tip every single day starting from Tuesday from 6 am.

Stress Management Strategies: Ways to Unwind - YouTube www.youtube.com/watch?v=0fL-pn80s-c

How to Release Your Negative Thoughts - YouTube www.youtube.com/watch?v=dj4I1YDjhDM&t=3s

Increase your awareness with an emotional exercise - Mark Waldman - YouTube www.youtube.com/watch?v=XbmgX9DKq4A

The Neuroscience of Mindfulness with Mark Waldman - YouTube www.youtube.com/watch?v=48J65uRj-LU

How Positive & Negative & Thoughts Influence Your Financial Results Mark Waldman - YouTube www.youtube.com/watch?v=6l_Uws5vV5o

Effective Stress Management Techniques, Brian Tracey - YouTube www.youtube.com/watch?vHbPTON5Omo

Categories: Share2Uplift, 21st Century Mindsets, Master your mind - Bookclub sessions