Embed Size (px)
DESCRIPTION
Women Wise magazine targets females who are 25 years and older. The core target is between30 and 35 years old. These women are aspirational, professional and are seeking a comfortable lifestyle. The magazine is distributed in the Sunday Guardian to a middle and high income group. In addition, Special Editions are routed through an external distribution network and showcased on attractive branded stands nationwide.
Citation preview
24
It seems only fitting thatwhenever an issue of fi-nance (or financial con-straint) comes around, thefirst thing to get an adjust-ment is what we eat. It’s asad truth, I know. Plus, fluc-tuating prices at our nation’sgroceries pose a never-end-ing number crunching prob-lem – not only do we have tobe amazing cooks, we alsohave to be financial wizardsand calculate (oddly enough)what we can ‘afford to dowithout’.
Personally, I always find mystocks and ingredients at varioustypes of establishments, fromcorner shops to the giant ware-houses, just so I can save a fewmuch needed dollars and centsfor the piggy bank!
Based on personal experience,there are certain food items thatare regular restocks; these arecooking oils, sugar, salt, flour, but-ter, canned peas/beans/Viennasausages, tea/coffee, juices, etc.Meats and fish are choices formost, dependent on if they aremeat eaters or vegetarians.Pulses (peas, beans, etc) arestandard and inexpensive, andmany a creative cook can findways to dress these up for vari-ous combinations using freshseasonings.
Despite the possible con-straints, healthy yet inexpensivemeal choices are always possible,so it’s incumbent on the wiseshopper to always be on the look-out for dips in prices when thereis an abundance of say, cassava,sweet potato, pumpkin or eventomato. The old adage, ‘buy inbulk’ certainly applies as the lawof economics states that when aproduct is plentiful, the price islevel. When out of season, pricesskyrocket. Also, buy local – andeconomically – when you can, andcook with your ingredients wisely.
Here are a few inexpensivemeal ideas using ingredients thatare always available.
Ingredients:• 1 tsp vegetable oil (or canola)• 1 garlic clove, crushed• 1/4 cup minced onion • 2 stalks chive, chopped• 2 sprigs fresh thyme• 15.5 oz can red kidney beans, rinsed
and drained• 2 cups uncooked long grain rice• Salt and fresh ground pepper, to taste• 2 1/4 cups water• 13.5 oz can (1 3/4 cups) light coconut
milk• 1 whole scotch bonnet or habanero
pepper (not chopped)
Method:1. In a medium heavy
saucepan, heat oil over mediumheat; add garlic, chive, onion andthyme.
2. Sauté for a few minutes,then add the rice and beans. Stirgently.
3. Add the coconut milk, water, saltand fresh pepper and place thewhole scotch bonnet pepper inthe pot. Stir to combine and bringto a boil.
4. Remove and discard the hot pep-per and continue to cook the riceuntil almost all the liquid is ab-sorbed and just skims the top.
5. Cover and reduce heat to low;simmer for 25 minutes.
6. Remove from heat and keep cov-ered for 10 additional minutes toallow the steam to finish cookingthe rice (do not be tempted to liftthe lid before that).
Serve hot.
Ingredients:• 4 large baking potatoes• 1 teaspoon shortening• 6 tablespoons butter• 3 tablespoons grated onions• 1/2 teaspoon pepper• 2 medium eggs• 1 1/2 cups shredded cheddar cheese, di-
vided• 1 cup diced cooked deli ham, divided• Fresh chopped parsley for sprinkling
Method:1. Preheat oven to 375 degrees. Wash
and pat the potatoes dry and thenrub each potato with shortening.
2. Prick potatoes several times withfork and bake for 1 hour at 375 de-grees F.
3. Cut potatoes in half and scoop outthe insides into a large bowl leavingabout ¾ inch of potato in the skins.Place the skins on a cookie sheet.
4. Beat the potatoes with a fork for 1minute, then add butter, onion, eggsand pepper.
5. Continue mixing until smooth andfluffy, then fold in one cup of gratedcheese and the 1/2 cup of deli ham.
6. Fill potato shells with mixture andtop with remaining 1/2 cup of cheeseand 1/2 cup of ham. Sprinkle withthe parsley.
7. Bake at 375 degrees for 15-20 min-utes or until potatoes are thoroughlyheated and cheese is melted.
Ingredients:• 1 1/2cups of boiled pumpkin • 3 cups of vegetable broth
(made from bouillon cubes)• 1 medium-large carrot, diced• 1 medium white onion, diced• 1 teaspoon red pepper flakes• 1/4 teaspoon cayenne pepper• 1/4 teaspoon paprika• 1/4 teaspoon ginger• 2 cloves garlic, minced• Olive oil• Salt and pepper, to taste
Method:1. In a large stock pot, sauté
onion and garlic in a littleolive oil about 3-4 minutes.
2. Add in the carrots andsauté for another 5 minutesor so. Add boiled pumpkin,spices, and vegetable broth;stir to mix.
3. Cover and simmer onmedium heat for about 20-30 minutes, until carrots arecompletely cooked through.
4. Use an immersion blender(or transfer to a regularblender) and puree thesoup. Season with salt andpepper and serve.
with Halcian Pierre: It’s where we EXPLORE EVERYTHING CARIBBEANthat’s related to food, people and places.
23
Roslyn Carrington
What do couples fight about most? Fam-ily? Sure. Sex? Certainly. But one of thebiggest sources of contention betweencouples is money, the attainment, alloca-tion, management, and even the lackthereof. This is especially true if one of youis an ant and the other a grasshopper; theattraction of opposites may add spice inthe bedroom, but when it comes to balanc-ing the books, it’s vital that both of you beon the same page.
Find out where you standThe first step to getting a grasp on your fi-
nances is knowing exactly how much iscoming in, how much is going out, and howmuch you have in the kitty right now. Andyou don’t need to have your ACCA to do it.
If you’re handy with apps and spread-sheets, there are lots of little programmesavailable to help you tot up your data. Oth-erwise, good old paper and pencil will do. Ob-viously, you’ll list the big things, like loansand mortgages, but don’t forget smallercommitments like tithes or donations, hirepurchase and credit card payments.
Find the leaks... and plug themIf you’re constantly yourself asking “Where
did all our money go?” you need to take acloser look at your spending. The moneyisn’t dribbling out of a hole in your pocket.Get all Sherlock Holmes on your moneyhabits. Save your receipts, EVERY singleone, even little chits from the Ten DollarStore. Keep them well organised and sortedby type: Food, Utilities, Entertainment, etc.And no, a shoebox is not a filing system.
Since the nuts man doesn’t give receipts,start a spending log. A little cheap notebookwill do. You’ll feel like an idiot writing down“Nuts - $4”, but over the space of a fewmonths, you’ll begin to see patterns.Chances are you’ll find the source of your fi-nancial leak, and plug it up be-fore you become too anaemic.
Agree on a goalSure, sure, we all know
you’re supposed to save a lit-tle every month, but thequestion is, what are you sav-ing for? And, more impor-tantly, what are you savingfor TOGETHER? If he wantsa car and you’re hankeringafter a vacation, something’sgotta give. Perhaps you canagree on priorities; you’ll getthe car this year and post-
pone the vacation for next year. Or a certainpercentage of your savings can go to each,so you each feel you’re nearing your goal.
You are not the JonesesWhy would you want to keep up with
someone you aren’t? Childless couples, peo-ple with grown kids, home-bodies and worldadventurers all have different needs. And ifyour neighbour’s kids are sweating their ALevels while your ankle-biters are still scoot-ing around on the carpet, your financialneeds won’t be the same as theirs. Differentcouples need different plans. The trick is infinding one that suits you.
Agree on how to pool your moneyJoint account? Separate accounts? Sepa-
rate accounts AND a household account?Figuring out what works best for you de-pends on several variables. Are you comfort-able giving someone—even someone youlove—full access to your money? Is one ofyou (or, yikes, are BOTH of you) enough of aspendaholic to put your finances in jeop-ardy? Is one of you so lax with bill paymentsthat chances are good you’ll come home oneday to a darkened house or a dead phone?
Either nominate the most responsible(read: nit-picky)partner to be incharge of the bills,especially the morecritical ones, likemortgage, utilities,loans and hire pur-chase, or assignspecific paymentsto each of you.
And even if youchoose the joint ac-count option, it’s al-ways a good ideato have a small per-
sonal account of your own. You may neverneed to use your mad money, but you’llbreathe more freely knowing it’s there.
You’re only young onceNo, this isn’t an excuse to throw financial
caution to the wind and party like it’s 2099.The older you get, the faster the hands onyour clock seem to spin, and retirement iscloser than you think. And while you couldprobably get away with day-to-day financialmanagement with a good app and somecommon sense, retirement planning isn’tsomething you should do on your own.
Ask your bank or other financial institutionif they have advisors on staff, or consult a fi-nancial planner. Set up at least two goodplans; the market is unpredictable, andknowing you have backup will make youmore secure.
Your relation-ship will certainly hit roughseas from time to time, and if you have thestrength, you can weather it. But don’t letthe tidal wave of poor money managementsink you. Stand firm on your financial sealegs, and your cargo of love and devotion willland safely on the other side.
Talk to your loved ones about what yourdreams are. This seems like an odd wayto save money, but think about it. If youspend time with the people you love themost and come to some consensus aboutyour dreams, it becomes easy for you allto plan for it. If you’re all planning andworking together towards this dream, itbecomes easier to stay focused on it andreach it. Set a big, audacious goal to-gether and encourage each other to be fi-nancially fit – soon, you’ll find you’re doingit naturally and your dreams are comingcloser than ever.
3
COVER STORY:5 Andrea Taylor-Hanna: Conquering
the SpreadsheetsMOTIVATION:6 3 Steps to manage busynessPERSONAL GROWTH:10 The Price of Untreated DepressionDÉCOR:12 Renovation DevaluationsENTREPRENEURSHIP:15 A female powerhouse for
entrepreneurshipBEAUTY:18 • Value of Makeup
• Skin LightenersHEALTH INSIGHT:19 Caribbean MedPsych, Trinidad & To-
bagoRELATIONSHIPS:23 Don’t let financial tidal waves sink
your relation-shipMONEY MATTERS:4 Wealth Management and Financial
Planning7 Got Goals? Get A Plan.8&9 Eastern Credit Union: Definitely
Leading the Way11 3 easy ways to get organised16 Understanding Consumer Credit20&21 On the road to home ownership22 Financial Success – What’s Your
View?
Lisa JessamyAssociate Editor Special Publications Unit
If you want to achieve any tangible thing this year, you'llprobably need to have money along the way. Financialplanning is so valuable, yet many persons defer doing soor even controlling what they spend and as a result end upin debt.
In this special issue, we talk to planners and experts tohelp us unlock how you can achieve financial success. Forstarters, we ask you to consider a fresh look at your goals.We give you an understanding of your home ownershipoptions, consumer credit and debt control.
We also have worthy features on women who meanbusiness, health insights, beauty, décor, motivation and re-lationships. Who knew that money would keep us sobusy?
Whenever you’re consideringmaking an unnecessary purchase,wait thirty days and then ask your-self if you still want that item.Quite often, you’ll find that theurge to buy has passed and you’llhave saved yourself some moneyby simply waiting. If you want, youcan even keep a “thirty day list”where you write down the itemand the day you’ll reconsider it, butI prefer just to keep this one in myhead – that way, I often just forgetabout the unimportant things.
SPU PRODUCER
Tracey AlonzoHEAD OF DESIGN: MARKETING/SPU
Denise BaptisteASSOCIATE EDITORS SPU
Lisa Jessamy, Halcian PierreCONTRIBUTORS
Ann Moore-Spencer, Roslyn Carrington, BavinaSookdeo, Sherry Jeremie, Kaelanne Jordan, Akiela
Hope, Christine Dalkan, Aurora Herrera, Lindsay Ebbin,Dianne John, Carol Boon, Helen Shair-Singh
LAYOUT/DESIGN
Sean Simon, Karen Orosco-Huggins, Psyche Mitchell, Raquel Vasquez La Roche
TIPS COURTESY:www.simpledollar.com
SALES & ADVERTISINGSALES MANAGER
George [email protected]
BUSINESS DEVELOPMENT
MANAGER (SPU)Sonja Romany
ACCOUNT EXECUTIVE:Patrice Chariandy
SPECIAL PUBLICATIONSUNIT (SPU)
Woman Wise:[email protected]
22
Carol Boon
Jason lives quite happily withhis wife Althea and their twochildren in a rented town-house.
They comfortably meet their ex-penses and debts, have healthy sav-ings accounts and have invested fortheir children’s education and theirretirement. Sarita, on the otherhand, transformed her love of cook-ing into a small restaurant and 12years later, can proudly claim to bethe owner an expanding chain offranchises and is a self-made mil-lionaire. Which of these individuals isthe more financially successful? Theanswer could well be both. It all de-pends how you view financial suc-cess.
We live in a society that tends todefine success by how much moneywe have. Giselle Hudson, Chief Pos-sibilities Officer of Purple Marketing-- a company which “helps fed-upsmall business owners believe inthemselves again and restores hopeand profitability in their under-per-forming businesses” (http://giselle-hudson.com/who-do-i-help/) --thinks that it is natural for us to saysomeone is successful based on hisor her wealth accumulation. In herview, “the world is driven by wealthaccumulation” and we tend to lookat the outward or material signs ofhow we convert that money intosymbols of success. Hudson, how-ever, believes there is more to finan-cial success than merely money.“You experience financial successwhen you understand that moneyitself has no value and that all it is, isa physical manifestation of your cre-ative energy.” She advocates thatwhen we shift our focus off themoney itself to how we use our cre-ative energy to serve, solve prob-lems and satisfy needs, we willcreate an exchange of energy thatwill lead to money flowing in.
Both Hudson and New York-based life coach Tony Woodroffe ofTWLifecoach.com([email protected]) agreethat many overlook a crucial link be-tween financial success and self ful-fillment. Woodroffe explained:“Success is about achieving one’s ca-reer goals and fulfilling what you arepassionate about, while financialsuccess is finding a way to trans-form your passion into money or col-lateral. Many people have workedhard and made money without ful-filling their passion.” In other words,you can have all the money in theworld yet still not be living happy,contented lives.
“Money is a vehicle of exchange,”Hudson elaborated. “The more youhave the more material things youcan own. But there are many people
who, according to world bench-marks, outwardly appear to be livinghappy and fulfilling lives. Theyspend their lives running on a tread-mill where all the pressure of work-ing and striving may reap worldlyrewards, yet at the same time,there’s a feeling of going absolutelynowhere!”
So does our tendency to view fi-nancial success solely through sta-tus-oriented, materialistic eyeshinder more than help us?Woodroffe believes that our inclina-tion to do so may encumber ourprogress by causing us to lose sightof the passion that initially drove usto succeed.
Hudson echoes Woodroffe’s sen-timent saying, “We are so muchmore than titles, positions and pos-sessions. Having material things isfine. We were meant to have andlive abundant lives but whateveryou have must never define you.”She then asked a probing and perti-nent question, “If your success wasvested in the thing or position andshould any of the two be removed,
where would you be?”Whether or not you see yourself
or others as ‘financially successful’ isreally a matter of personal opinionand appears to incorporate a bal-ance between the acquisition ofmoney, the achievement of one’spersonal goals and a feeling of con-tentment and fulfillment. BothWoodroffe and Hudson also con-tend that becoming financially suc-cessful is also dependent on aperson’s ability to understand andmanage their finances, which takesdiscipline and developing the habitof saving, spending and investingwisely and diligently.
Woodroffe ended with this pru-dent advice: “Everyone can bewealthy if they develop the mindset.Define what your their perception offinancial success is, then think, liveand breathe success. Let it becomeyour lifestyle and do not allow your-self to be threatened by the successof others. Financially successful peo-ple are results-oriented risk takerswith a rock solid plan for transform-ing their passion into success.”
3
COVER STORY:5 Andrea Taylor-Hanna: Conquering
the SpreadsheetsMOTIVATION:6 3 Steps to manage busynessPERSONAL GROWTH:10 The Price of Untreated DepressionDÉCOR:12 Renovation DevaluationsENTREPRENEURSHIP:15 A female powerhouse for
entrepreneurshipBEAUTY:18 • Value of Makeup
• Skin LightenersHEALTH INSIGHT:19 Caribbean MedPsych, Trinidad & To-
bagoRELATIONSHIPS:23 Don’t let financial tidal waves sink
your relation-shipMONEY MATTERS:4 Wealth Management and Financial
Planning7 Got Goals? Get A Plan.8&9 Eastern Credit Union: Definitely
Leading the Way11 3 easy ways to get organised16 Understanding Consumer Credit20&21 On the road to home ownership22 Financial Success – What’s Your
View?
Lisa JessamyAssociate Editor Special Publications Unit
If you want to achieve any tangible thing this year, you'llprobably need to have money along the way. Financialplanning is so valuable, yet many persons defer doing soor even controlling what they spend and as a result end upin debt.
In this special issue, we talk to planners and experts tohelp us unlock how you can achieve financial success. Forstarters, we ask you to consider a fresh look at your goals.We give you an understanding of your home ownershipoptions, consumer credit and debt control.
We also have worthy features on women who meanbusiness, health insights, beauty, décor, motivation and re-lationships. Who knew that money would keep us sobusy?
Whenever you’re consideringmaking an unnecessary purchase,wait thirty days and then ask your-self if you still want that item.Quite often, you’ll find that theurge to buy has passed and you’llhave saved yourself some moneyby simply waiting. If you want, youcan even keep a “thirty day list”where you write down the itemand the day you’ll reconsider it, butI prefer just to keep this one in myhead – that way, I often just forgetabout the unimportant things.
SPU PRODUCER
Tracey AlonzoHEAD OF DESIGN: MARKETING/SPU
Denise BaptisteASSOCIATE EDITORS SPU
Lisa Jessamy, Halcian PierreCONTRIBUTORS
Ann Moore-Spencer, Roslyn Carrington, BavinaSookdeo, Sherry Jeremie, Kaelanne Jordan, Akiela
Hope, Christine Dalkan, Aurora Herrera, Lindsay Ebbin,Dianne John, Carol Boon, Helen Shair-Singh
LAYOUT/DESIGN
Sean Simon, Karen Orosco-Huggins, Psyche Mitchell, Raquel Vasquez La Roche
TIPS COURTESY:www.simpledollar.com
SALES & ADVERTISINGSALES MANAGER
George [email protected]
BUSINESS DEVELOPMENT
MANAGER (SPU)Sonja Romany
ACCOUNT EXECUTIVE:Patrice Chariandy
SPECIAL PUBLICATIONSUNIT (SPU)
Woman Wise:[email protected]
22
Carol Boon
Jason lives quite happily withhis wife Althea and their twochildren in a rented town-house.
They comfortably meet their ex-penses and debts, have healthy sav-ings accounts and have invested fortheir children’s education and theirretirement. Sarita, on the otherhand, transformed her love of cook-ing into a small restaurant and 12years later, can proudly claim to bethe owner an expanding chain offranchises and is a self-made mil-lionaire. Which of these individuals isthe more financially successful? Theanswer could well be both. It all de-pends how you view financial suc-cess.
We live in a society that tends todefine success by how much moneywe have. Giselle Hudson, Chief Pos-sibilities Officer of Purple Marketing-- a company which “helps fed-upsmall business owners believe inthemselves again and restores hopeand profitability in their under-per-forming businesses” (http://giselle-hudson.com/who-do-i-help/) --thinks that it is natural for us to saysomeone is successful based on hisor her wealth accumulation. In herview, “the world is driven by wealthaccumulation” and we tend to lookat the outward or material signs ofhow we convert that money intosymbols of success. Hudson, how-ever, believes there is more to finan-cial success than merely money.“You experience financial successwhen you understand that moneyitself has no value and that all it is, isa physical manifestation of your cre-ative energy.” She advocates thatwhen we shift our focus off themoney itself to how we use our cre-ative energy to serve, solve prob-lems and satisfy needs, we willcreate an exchange of energy thatwill lead to money flowing in.
Both Hudson and New York-based life coach Tony Woodroffe ofTWLifecoach.com([email protected]) agreethat many overlook a crucial link be-tween financial success and self ful-fillment. Woodroffe explained:“Success is about achieving one’s ca-reer goals and fulfilling what you arepassionate about, while financialsuccess is finding a way to trans-form your passion into money or col-lateral. Many people have workedhard and made money without ful-filling their passion.” In other words,you can have all the money in theworld yet still not be living happy,contented lives.
“Money is a vehicle of exchange,”Hudson elaborated. “The more youhave the more material things youcan own. But there are many people
who, according to world bench-marks, outwardly appear to be livinghappy and fulfilling lives. Theyspend their lives running on a tread-mill where all the pressure of work-ing and striving may reap worldlyrewards, yet at the same time,there’s a feeling of going absolutelynowhere!”
So does our tendency to view fi-nancial success solely through sta-tus-oriented, materialistic eyeshinder more than help us?Woodroffe believes that our inclina-tion to do so may encumber ourprogress by causing us to lose sightof the passion that initially drove usto succeed.
Hudson echoes Woodroffe’s sen-timent saying, “We are so muchmore than titles, positions and pos-sessions. Having material things isfine. We were meant to have andlive abundant lives but whateveryou have must never define you.”She then asked a probing and perti-nent question, “If your success wasvested in the thing or position andshould any of the two be removed,
where would you be?”Whether or not you see yourself
or others as ‘financially successful’ isreally a matter of personal opinionand appears to incorporate a bal-ance between the acquisition ofmoney, the achievement of one’spersonal goals and a feeling of con-tentment and fulfillment. BothWoodroffe and Hudson also con-tend that becoming financially suc-cessful is also dependent on aperson’s ability to understand andmanage their finances, which takesdiscipline and developing the habitof saving, spending and investingwisely and diligently.
Woodroffe ended with this pru-dent advice: “Everyone can bewealthy if they develop the mindset.Define what your their perception offinancial success is, then think, liveand breathe success. Let it becomeyour lifestyle and do not allow your-self to be threatened by the successof others. Financially successful peo-ple are results-oriented risk takerswith a rock solid plan for transform-ing their passion into success.”
21
The Trinidad Building and Loan Association (TBLA)has been in existence since 1891, and is one of thelongest standing, financial institutions in the country.
The Association is a Building Society that providesaffordable mortgage and credit financing for peopleto own, renovate or improve on their property.
4
The Institute of Banking and Finance ofTrinidad and Tobago is a not-for-profitawarding body that was established in 1984through the collaborated effort of the com-mercial banks and NIHERST. The Institute ismandated to assist the advancement ofbanking and finance professionals throughits professional education programmes – theDiploma in Banking (DIB) and Certificate forFinancial Advisors (Cert.FA) - and corporatetraining services.
The Institute recognises the need for ongoingeducation, relevant to the Banking and Finan-cial services industry. IBF’s education pro-grammes provide students with theknowledge and skills necessary to compete inthe faced paced financial services industry.
We offer two programmes:1. The Certificate for Financial Advisors
(Cert.FA). This programme equips participantswith the skill set to provide financial advice toclients on products and services which wouldassist them in achieving their financial goals.Cert.FA is the “benchmark” qualification for fi-nancial advisors. It is recognised by the localbanking sector as fully satisfying the require-ments and standards which are necessary foradvisors to “practice” unsupervised.
2. The Diploma in Banking (DIB) programmeis geared towards persons who are employedin the Banking profession and wish to expandtheir knowledge of banking and finance by pur-suing a professional level qualification. Suc-cessful candidates can gain acceptance to UWI.
The following are testimonies from a few ofour graduates from both Cert.Fa and Diplomain Banking Programmes:
Nicholas Dean, Certificate for Financial Advi-
sors Graduate, 2004“In 2003 I planned to formalise my knowledge
of financial planning and signed up for theCert.Fa programme. I would say that the infor-mation presented in the course was simple andinvaluable to my career as a financial coach.When I stack it up next to the material studiedin the Canadian Certified Financial Planningprogramme, I would say that the Cert.Fa is farsuperior and more applicable to operate an in-dependent financial practice in Trinidad and To-bago.
I highly recommend the programme to any-one who either wants to work in the financialservices industry locally or simply to gain agreater command of their personal finances.
The investment I made in the Cert.Fa courseover a decade ago continues to pay great divi-dends in the quality of decisions made by my-self and my clients and I will continue receivetangible financial returns for life.”.
Nicholas Dean (Cert.Fa) Financial Coach, Trainer & Author
Kevin Sebro – DIB Graduate 2012
The programs offered by the Institute ofBanking and Finance have allowed me to havea greater appreciation and understanding of Fi-nance in general and Banking in particular andhow they impact on tangible and intangible lev-els. Some more easily identifiable courses wereLending Skills, Information Technology, Finan-cial Advisory/Client Advice and Marketing toname a few.
The area of Client Advice was critically impor-tant to me and it has strengthened my knowl-edge base in my current job; ultimatelyinspiring me to provide leadership in anothersector of the financial services industry.
I would recommend the programs to anyonewho is interested in Banking and Finance as acareer as they help to buttress one’s knowl-edge base and create a platform for futuregrowth and allow one to compete; especially ifone is interested in Sales, Financial Manage-ment or Marketing. The world of bankinghasn’t changed; only the tools and some ofthem can be found at the Institute.
Kevin Sebro (Dip. Bkg) | Customer Sales Office
IBF Fellowship Awards Recipients with the IBF President(June 9th 2012). Left to right: Mr. Josef Baptiste,Citibank, Trinidad and Tobago Limited, Mrs. Andrea Tay-lor Hanna, IBF President and Mr. Shelton Nicholls, DeputyGovernor, Central Bank
Feature Speaker Professor Patrick Watson, Chairman ofthe Trinidad and Tobago Securities and Exchange Com-mission (TTSEC) (IBF Graduation – June 9th 2012
Workshop and Seminar Listing - 2013Call us for details on our upcoming
2 day Workshop "Wealth Management & Financial Planning" - April 18th & 19th 2013 at the Courtyard byMarriott, presented by Mr. Hayden Blades
Other workshops hosted by IBF include:
• Wealth Management• Credit Analysis Training
• Customer Service Training• Enterprise Risk Management
• Pre-Retirement Planning Workshops • Financial Planning for the Future
• Bond Fundamentals• Compliance Awareness• Anti-Money Laundering
• FATCA AwarenessAll workshops can be tailored
to in-house sessions upon requestTo Register contact Cheryl at628-2944/622-0282 ext: 224
or email: [email protected] Camille at ext: 225
or email: [email protected]
Do you want to purchase your ownhome? If the answer is yes, then the nextquestion would be; have you positionedyourself financially for homeownership?To position yourself means that you have aclear picture about where you are at themoment and you are keenly aware ofwhere you will like to be in the future.
This process all begins with a plan. Most ofus plan towards the purchase of a new car;plan out the details of a wedding; or plan outa career path. The path to home ownershipis no different. Here are guidelines to helpyou chart the course:
Become familiar with the mortgageprocessVisit financial institutions for mortgagebrochures and be guided by their require-ments for future reference. There are re-sources available online that seek to makethe entire mortgage process more palatable.
Establish good credit habits to ensurea good credit historyThe term of a mortgage loan can run for aperiod of 10 to 30 years. Therefore, part ofthe mortgage assessment may include ac-
cessing the credithistory of a potentialmortgagor. A goodcredit rating meansthat the candidatecontinues to pay hiscreditors when payments are due and thiswill assist in the final evaluation of the actualmortgage application.
Save towards your down payment in aseparate savings accountIdeally, the funds for the down paymentshould be deposited in a special savings ac-count separate from your normal savings.Mortgage lending institutions require adown payment of 10% to 20% of the prop-erty cost. Potential mortgagors should alsoconsider the cash requirement for process-ing fees; legal fees; valuation fees and stampduty.
Get a mortgage pre-assessmentevaluationMake an appointment to have a mortgagepre-assessment at a mortgage financing in-stitution. These pre-assessments are freeand would inform you of your qualifying
mortgage amount.This places you in abetter informed posi-tion of knowing howmuch you realisticallyneed to have as a
down payment towards the purchase of ahome.
Get more persons involved in thehouse huntingOnce you actively start looking for a homeinform friends and family of that intention.They can be an additional source of informa-tion on existing properties. When a more af-fordably priced home enters the market,they can contact you, thereby increasingyour chances of securing the property in aquicker time frame.
There are many benefits to being a homeowner. Remember, that a mortgage is along term commitment; the required docu-mentation to start an application is neces-sary so that risks are lessened. Make anappointment to speak with to a TBLA mort-gage officer to improve your chances ofmaking purchasing a home a reality.
20
Petrina Copeland-JamesMarketing Administrator
that the Institute deems topical,and which they (as bankers)think will add benefit to the in-dustry and to the public. One oftheir famous ones is the Retire-ment Planning seminar which isunique in that it does not justlook at the financial aspect, itlooks at the health aspect forthese persons, and it also looksat that psychological retiringprocess that people don’t cater
for. At the end of this month, the In-stitute will host a two-day Pre Retire-ment Workshop on February 28thand March 1st.
Why all these plans for developingfinancial professionals locally? It’s herpassion, finance is what Taylor-Hannahas done most of her adult life. Shehas worked within this industry in dif-ferent areas in Accounting and Fi-nance, ranging from themanufacturing industry to media andthen finally to banking which has beenher home for the past 19 years.
“It’s what I trained for, it’s what Iwanted to do,” she says; “I lovespreadsheets, I get happy when I seethem on my computer. Horrible thingto say but they brings me joy.”
Along with her passion for finance,she has also approached her careerwith a positive mindset, never allow-ing herself to be daunted by the factthat she is operating in a male-domi-nated world. “I mean, you have to getthe work done, and they will be at you,but I never felt it was because of fe-maleness. I have found it to be -match your brain against their brain,get the work done, no male/female is-sues, just human issues,” she says.“The only stipulation was that as thefemale in the room I was not offeringto make coffee for anybody.
“It was when I realised that I wasprobably the first female in the finan-
cial sector in Trinidad and Tobago tohold the position of General Managerof Finance, that I recognised maybe Iam in a male world.”
She stresses that Trinidad and To-bago is way ahead of many parts ofthe world in breaking the traditionalglass-ceiling concept, and she urgeswomen that as we try to carve aniche for ourselves, that we learn ourown individual techniques using ourskill sets and do not to try to imitatemaleness in getting there.
This career-driven wife and motherpoints out the importance of having asupportive family and not biting offmore than you can chew. “I have avery supportive husband. I haveknown my husband to cook Sundaylunch, pack it in a nice kit, and drop itfor me while on his way to churchwith the children while I am at Repub-lic Bank working. I also made sure toget home help. Get somebody else toclean the house, wash the clothes, be-cause you literally can’t do everything.Choose the things that are really im-portant to you, for instance, doinghomework with my kids – always apriority. When I come home in theevening, I am coming home to interactwith my children and do spelling anddictation. I’m not coming home to tryand cook a meal or to clean any room.I can’t do it all, I’m not even attempt-ing to figure out how to do it all.”
To relax, she tries to steer clear ofanything financial. “I like people so I gofind ways to interact with them. OnceI leave the office, I don’t want to beanybody’s accountant. You knoweverybody wants you to do this, dothat, I don’t want to do it, but I wantto do everything else.” She does a lotof social work and sits on the board ofa radio station and a school.
5
Christine Dalkan
Andrea Taylor-Hanna attacks thedaunting task of Finance each dayat one of Trinidad and Tobago’s lead-ing banks and relishes it.
She is also the President of the In-stitute of Banking and Finance, theeducational arm of the Bankers’ Asso-ciation of Trinidad and Tobago. With35 years of experience under her belt,Taylor-Hanna wants to focus on de-veloping the people or the human re-sources of the finance industry.
At the Institute of Banking and Fi-nance’s Grey Street office, she ener-getically strides into the conferenceroom and gets right into interviewmode. One might even doubt that it’snearly four in the afternoon, and thatshe hasn’t just wrapped up a day fullof crunching numbers and balancingfigures or that she has not just en-dured the ridiculous rush hour trafficto get from her Park street office toSt. Clair for this interview.
She wants to develop the people.“All the years I’ve been in Manage-ment, the one thing that I’ve seen isthat you need to really develop yourpeople. That’s what makes it workand once people see that you have agenuine interest in their development,they do anything.” says Taylor-Hanna.“And that genuine desire to developpeople is why when the bank askedme to be its representative on thiscouncil that I embraced it.”
The Institute of Banking and Fi-nance provides educational trainingthat is aimed at developing the bank-ing and finance professionals inTrinidad and Tobago, as well as mem-bers of the wider public. The Instituteruns certified programmes anddiploma programmes specific to bank-ing and finance as well as any area
IBF President,Andrea Taylor-Hanna
We are busy making decisions, busytaking action, busy combating chal-lenges and busy keeping the dreamalive. However, if we allow busyness tooverwhelm us, our quality of life dimin-ishes.
Consider the three steps outlinedbelow to help you deal with your busy-ness.
1. Specify your busynessDon’t just say that you’re busy. In-
stead, say that you’re busy at homewith the children or with a sick child.Say you’re busy with a major home ren-ovation. Say you’re busy planning abirthday party or an anniversary cele-bration for your parents. Say you’rebusy hosting guests for an upcomingfamily reunion. Say you’re busy at theoffice with employee reviews, trainingsessions, back-to-back meetings, clientfollow-ups, stock-taking, working outthe legal fine points of a business part-nership. Say you’re busy training for anupcoming sporting event or working ona special project or two for yourfavourite hobby. Say that you’re busydoing research for a paper you have tosubmit on deadline. Specifying your par-ticular area(s) of busyness makes iteasier to identify the other areas whereyou can compensate with some freetime and relief.
2. Classify your busynessDaily: As burdensome as they can be,
daily responsibilities and activities add acertain kind of energy and purpose toyour life. You may only notice and appre-ciate this if you approach them from theperspective of their importance to theoverall well-being and the sense of ac-complishment they deliver. A further
thought to consider is thatsome daily responsibilities aretemporary, which should easethe tension in handling them.
Seasonal: Unless you plan meticu-lously, seasonal busyness creeps up onyou, overwhelms you with its urgencyand sends you scurrying in a breathlessfrenzy. The balancing factor is that it isshort-lived.
One-off: This class of busyness canbring on a full frontal blast of over-whelm and even fear. Being able tothink on your feet and take decisive ac-tion can ward off a speedy decent intodepression.
3. Control your busynessIf you get bogged down with the de-
tails of your busyness, overwhelm canset in and cloud your judgement, screwup your perspective, muddle solutionsand complicate the process to man-age it. In order to control your busy-ness:
Reset your priorities. Youmight be busy with an unex-pected challenge or a normallife issue but that doesn’t nec-essarily mean that it is a prior-ity item in the scheme of yourlife plans. By resetting your pri-orities, you get a clearer per-spective of what is keeping youbusy, which could reveal a moreefficient way to control it toallow time, space and resourcesto attend to what’s important toyou.
Say no. A crucial part of con-trolling busyness is knowingwhen and how to say “No”. Afirm but gracious “No” starvesoff overwhelm and protects
6
what matters. Give up perfectionism. Nobody is perfect and
often, it is in your imperfections that you discoverinnovative ways to help you deal with your busy-ness.
Release control. When the stuff on your plate ispiled high and overflowing, delegate some tasks totrustworthy and capablepeople.
Managing busyness is not a one-time cure-all. In-stead, it is a series of steps you return to when nec-essary - (1) to control the multitude of tasks onyour to-do list and (2) to keep additional responsi-bilities at bay. Are you living with a mountain ofbusyness? Are you drowning in overwhelm? Usethese steps to help you manage your busyness.
Busyness, it seems, has become the catch-phrase of home and family responsibilities andclimbing the corporate ladder. Even in pursuing ourdreams busyness abounds.
Cheryl Wright
Quite often, I used to spend money just to wind
down from a stressful day at work. Instead, I’ve
found that I quite often feel much better by going
home and taking some quiet time just to stretch and
then meditate. I end up feeling much more together,
happy, and ready to face an evening with the kids in
the right mindset than I ever would by just blowing
some cash after work. Instead of spending to de-
stress, try some basic meditation techniques,
stretching, or yoga and see how you feel.
19
Helen Shair-Singh
Ms. Analisa Wittet, neuropsychologistand daughter of the soil, completed her un-dergraduate studies at the University ofNottingham and postgraduate studies atUniversity College London. She opened thepractice in partnership with Florida-basedDr Geoffrey Kanter, who is double board-certified in Pediatric and Adult Neuropsy-chology in the United States. Dr Kanterruns the largest private behavioral medi-cine group in Florida, with a staff of over40 psychiatrists, counselors, psycholo-gists, and neuropsychologists.
Neuropsychology represents a highly spe-cialised discipline within the field of psychol-ogy. It entails comprehensive evaluation ofall primary areas of brain functioning as itseeks to identify and evaluate the exact na-ture and extent of reported concerns orchanges in behavior. Brain function is as-sessed through the use of noninvasive tests,primarily verbal and paper and pencil typetasks. Cognitive areas assessed for potentialdysfunction include: attention, memory, vi-sual-spatial functioning, language skills,higher level problem-solving, and visual-motor speed and coordination. The assess-ment also examines emotional andmotivational issues.
For example, a patient may seek to deter-mine the extent to which their brain functionhas been affected following an injury (e.g. ablow to the head, stroke, toxic exposures,
brain disease, substance abuse, etc.), butvery often there is no known medical condi-tion that would explain the symptoms or be-havioral changes. Analisa & her team, usingprecise methods of evaluation, can attemptto identify the root cause of the problem andthereby determine what treatment is mostappropriate.
In another example of the use of neuropsy-chology, let's say there are 3 children in aclassroom, all labeled as "inattentive". Theteacher reports this to the parent, who isthen concerned as to whether the child mayhave a true attention deficit disorder orADHD. However, this behavior could be theresult of several things, such as:
1). The child may indeed have genuine attention dis-abilities which are out of their control, meetingthe criteria for ADHD
2). The child may have intact attention capabilitiesbut is simply opposing by refusing to pay atten-tion
3). The child may be experiencing significant depres-sion/anxiety, making it difficult for them to focuson their work.
Once the source of the problem is identi-fied, the recommended treatment is morelikely to be effective. For example, giving anoppositional child ADHD medication is notgoing to solve the problem.
Wittet believes that there was a definiteneed for opening her practice in this countryas cases of neurocognitive dysfunction isvery prevalent here but the facility to evalu-ate them was extremely limited, and shewas always aware of the financial strain im-posed when seeking such services abroad. Itwas actually that fact that made her selectneuropsychology as her specialty. She hopesto see an increased awareness and availabil-
ity of specialised services that support thework of our medical professionals.
In early 2012, when Dr Kanter agreed tocome on board, Wittet wasted no time insetting up her practice in Trinidad. Dr Kanterhimself, when asked his reasons for agreeingto partner with Analisa in setting upCaribbean MedPysch, responded:
“After receiving excellent neuropsychologytraining in the UK, Ms. Wittet moved toFlorida to work with our group where hertalent and proficiency soon became quite ev-ident. We decided to set up a neuropsychol-ogy evaluation practice in Trinidad and I wasparticularly keen knowing the limited avail-ability of such expertise and practice of neu-ropsychology in Trinidad. We thereforedeveloped a unique collaboration project,Caribbean MedPsych, whereby my group,Comprehensive MedPsych Systems, and Iwould be immediately available to work withMs. Wittet. This provides Ms. Wittet'sclients the benefit of advanced expertisefrom a diverse group of practitioners”.
Caribbean MedPsych offers evaluationacross a wide range of pediatric and adultneurological and psychological services.
In Pediatric services, they deal issues suchas difficulty in learning, attention, behavior,socialisation, or emotional control; Illness,disease or developmental problems affect-ing the brain; brain injury from an accident;birth trauma; neurological conditions wherebrain functioning may be compromised (e.g.epilepsy); ADHD and Autism/Asperger’sSyndrome.
In Adult services, they deal with conditionssuch as traumatic brain injury; concussion;Dementia; Alzheimer's; the cognitive andemotional impact of Multiple Sclerosis andParkinson’s Disease; Stroke;Epilepsy/Seizures/Pseudoseizures; Differen-tial Psychiatric Diagnosis (Bipolar, Depres-sion, Anxiety); the psychological impact ofchronic pain and other neurological and psy-chiatric conditions.
Caribbean MedPsych alsooffers Forensic/Legal neu-ropsychological and psy-chological evaluations suchas addressing cognitive andpsychiatric impact of in-juries or claims, assessingcausation & pre-existingconditions, with state-of-the-art evaluation of effort,exaggeration, motivationand symptom validity.
You can find CaribbeanMedPsych, at 9-11 FittStreet, Woodbrook (or call224 3460 to make an ap-pointment). Dr Kanter
18
FABULOUS ALTERNATIVES TO A FEW HI-END PRODUCTS1. Diorshow Mascara - L’Oreal Voluminous Mascara2. M.A.C Cosmetics Pro Longwear Lipstick - Maybelline Super Stay 24 hr Lip color3. Nars Galapagos eye shadow - NYX eyeshadow in Golden Amber4. Make Up Forever Mat Velvet Mattifying Foundation - Revlon Colorstay Foundation5. Bobbi Brown Long wear cream shadow - Maybelline Eye Studio Colour Tattoo 24hr
eyeshadow6. Lancome Artliner liquid eyeliner pen – L’Oreal Linear Intense
Hyperpigmentation has become one ofthe top skin concerns world-wide. The skinlightening trend started more than 25years ago in Asia and then India with"whitening" products, but now are termed“brightening products which are selling likecrazy in the U.S and around the world.
Dark spots are caused by a number of fac-tors whether environmental (extrinsic) or in-ternal (intrinsic). Core causes which createdark spots are, acne blemishes, pregnancy,hormonal fluctuation in women over 50, dis-coloured moles from sun exposure withoutSPF protection, smoking, some medication, adiet of excessive greasy or spicy foods, lack of vitamins, ex-cessive oil production causing blogged pores, shavingcausing ingrown hairs depending on the type of hair anddaily skincare regiments.
Plastic surgeons, dermatologists, aestheticians, doctors,makeup artists, pharmacists, nutritionists, TV shows, andmakeover shows are constantly promoting how to coveror get rid of skin discolourations. It’s in demand so the sup-ply has increased.
To lighten dark spots a dermatologist might recommenda product that contains hydroquinone. However, there'sbeen a lot of controversy surrounding this ingredient,which has been banned in a number of countries becauseof the side effects, such as excessive redness, dryness anda burning sensation when applied.
Some of the best skin lighteners I have recommend towomen and men is Clinique’s Even Spot Corrector, Prevage,Garnier Clinical Dark Spot Corrector, Obagi Nu Derm. and
Elure Advanced lightening lotion to name a few.There are an abundant amount of skin lighten-ing creams in stores, ensure expiration datesare checked and discontinue use if you experi-ence redness/rash and consult your doctor.Other Technical lightening services that helpthe skin are:
Chemical peelsThe surface skin layer is taken off with the
help of special chemical preparation. It’s rathereffective and a painless procedure.
Laser peelingYou get rid of the surface skin layer under the impact of
special laser. It becomes the stimulus for cell enlargement.But after the procedure you have to use anaplerotic cream.It would be better if it takes place in winter or in colder cli-mates, because your skin shouldn’t undergo the direct sunbeam impact for several months after laser peeling.
Ultrasonic peelingWith the help of ultrasound, special bleaching prepara-
tions for your skin are placed in the epidermis. To get thedesirable effect ten procedures should be done.
Note, all the above treatments can affect further dark-ness if you do not consult a certified technician and organi-sation to perform such procedures. The goal is lighten andnot darken key areas of the skin. It has been found thatdarker skin tones may become even more discoloured. Agreat way to see if is the right procedure is for you is toconsult a dermatologist or plastic surgeon who can ad-
dress the dermal layers in the skin and see clients theyhave done procedures on.
Women now associate discolorations as a key thing thatshows their age, so why not take a chance and find a solu-tion that works best for you. If you are not as concerned, Iwould recommend starting your children at an early ageusing a high SPF 30 plus. Remember SPF works by using asimple formula to reapply. If you use an SPF 30 you multi-ply by 10 and that means you have 300 minutes beforeyour skin gets affected by the UVA and UVB rays. Anotherway to cover and treat your skin is using a good founda-tion and concealer that you feel comfortable wearing inwarmer climates.
Healthy skincare is a healthy way of maintaining yourouter beauty so you feel the inner beauty.
Dianne John
There are a plethora of make-up brandscirculating the globe today that sometimes,more often than not, cause women to havea very difficult time sifting through myriadproducts in their attempt to perfect theirown unique signature look. The decision tobuy one particular brand instead of havingseveral brands in your makeup bag createsa dilemma of sorts.
It is really up to the individual to decidewhich make up products are critically impor-tant for them to splurge on and which arenot. You should seek out make up productsthat are a breeze to apply. For me, foundationand powder are key to achieving a flawlesslook. I would definitely buy hi-end productshere, I also find that I am very particular when
it comes to my lipsticks and lip glosses soagain I buy hi-end.
If you are an individual that has very darkunder eye circles and flawless skin, then by allmeans seek out a good quality concealer thathas superior camouflage abilities and longlasting properties and opt for a lower endfoundation with sheer coverage. Women withblemished skin and sun spots should defi-nitely buy hi-end foundations that deliver fullcoverage with moisturising skin benefits. Itall depends on your individual needs and whatyou deem to be important as opposed to not.
If you buy a good eye shadow primer thenbudget eye shadows would be a breeze toapply with minimum effort. It is not neces-sary to splurge on lip liners, eye pencils andcheek blushes as there are some really amaz-ing ones on the market that are very cheap
and does the job efficiently. Mascaras come inall sorts of formulations but again there isusually not much of a difference between lowand high end products in most cases.
So when next you are thinking of purchas-ing make up, decide on what is critically im-portant to your needs, do your research, takea deep breath and buy the hi-end productsthat you need and not what you want.
LINDSAY EBBIN
7
Carol Boon
Ever wondered why some peopleseem to always to have enoughmoney to achieve anything they setout to do? The difference betweenthe financially wealthy and those wholive one payday to the next lies in theability to achieve their goals by pru-dently and diligently managing theirmoney. Some of the world’s wealthi-est people came from ordinary oreven poor backgrounds but under-stood the value of setting goals andmaking a plan to achieve them.
That’s what a budget is – a plan ofhow to save, spend and invest yourmoney on an ongoing basis to achievethe things you seek in life. Mentor, con-sultant and life coach Tony Woodroffeof TWLifecoach.com shared with us hisadvice on how to go about making aplan to achieve your goals. “Budgetingfor goals isn’t easy,” he warned. “It re-quires discipline and getting into thehabit of controlling how you spend yourmoney and how you invest towardsyour goals.” Woodroffe believes in theequation: “Plan To Work + Work to Plan= Success.” In other words, one doesnot accidently achieve goals, it’s a step-by-step process.
Determine Your Available Income& Expenses
“You must know what you are work-ing with, what your bills and expensesare and then, set out to live within yourmeans,” Woodroffe maintained. Thismeans looking at how much moneyyou actually bring home and examiningyour cheque book, cash receipts, creditcard statements, insurance and utilitypayments and more to find out onwhat you are actually spending.
Write Down Your Goals and Pri-oritise Them
Think about what you want toachieve and write them down. Figureyour goals out in terms of whetherthey are achievable in the short term,medium or long term. Woodroffe thenadvises, “Learn to prioritise your goals.Your main goal should be to focus onpaying your bills. Only when your billsare paid will you have the peace ofmind to go out, make something ofyourself and achieve your life goals.”
Create Your Budget and SpendingPlan
When working out your budget, con-centrate first on allocating money tomeet your needs, and only then, the‘wants’ you can comfortably afford.
Woodroffe recommends that you scrutiniseyou think your ‘needs’ versus your ‘wants’.“Everything you buy, look at it as an asset ora liability.” What you think you may ‘need’may actually result in being an added ex-pense to you.
Plan To Save Towards Your GoalsAlways include a plan for saving regularly,
no matter how small an amount that may beinitially. Also, look for ways to save whereyou thought there were none. “Learn tomake money with the money or time youhave invested,” Woodroffe advised, citing theexample of renting a room rather than anapartment and saving the difference in rentalcost. Another was looking for opportunitiesto create residual income. “I would advise anyyoung person to look for a way to makemoney while they are asleep.” He suggestedhaving a second job operating an online busi-ness but cautioned, “You have to be seriousand disciplined about it, setting aside time tooperate and manage that business.”
Be Wary Of Reckless Spending andUsing Credit
“Reckless spending is but the worst distrac-tion and path to failure,” Woodroffe warned.“The temptation of having credit cards can bethe most dangerous weapon. They make youmake decisions based on wants and impulserather than on logic. I personally put mine inthe freezer. While it was thawing, I had thetime to think, ‘Do I actually want this? Do Ineed it?’”
Be Patient, Realistic and Re-Assess Pe-riodically
Attaining your goals does not happenovernight. It takes time, patience, a disci-plined approach to managing your money andabove all, looking realistically at your financesand spending habits. It may be that you mayhave to adjust your current lifestyle and cutback in the initial stages but your goals, what-ever they are, are achievable once you have aplan, which you should review periodically.
Have you been having a lot of rainy days re-cently? Do you hear your grandparents’ voiceresounding in your head saying “make sureyou save for rainy days”? Well, Eastern CreditUnion (ECU) has your back. Leading the wayfor its members, ECU provides the opportunityto not only save for rainy days but to build anentire life.
The credit union, established on April 16th,1973 understands the stresses of life and knowsexactly what it is like to start from scratch.
“How?” you might ask. Kester Regis, Group Exec-utive Manager, Marketing, Research and Busi-ness Development, disclosed that “ECU startedon just $58.50 after the dissolution of theBermudez Employees Credit Union.”
So why should you become part of the ECUfamily? The benefits of becoming part of thecredit union are many. According to Regis, thebenefits include:
Free insurance coverage on share savings, div-idends paid annually on share savings, shares
Bavina Sookdeo
8
are used as collateral for all loans, youbecome part owner of the credit union,all members can qualify for a free Sprint(ATM) card which can be used at pointof sale locations and at any ATM on theLINX network (this Sprint card alsoserves as a discount card at selectedmerchants), you can also acquire a LifeSavings Plus and Family Indemnity Planfor final expenses, competitive interestrates on loans and deposits and youalso have the opportunity to benefitfrom free educational programmes.
Presently, Eastern’s rates are very com-petitive. For Residential Mortgages the in-terest rate is 0.75% per month, forCommercial Mortgages, the interest rate is0.90% per month while for Bridging fi-nance loans (provided to facilitate the con-struction of residential and commercialproperty) the interest rate is 1.25% permonth. Members can also enjoy a prefer-ential interest rate of 0.56% per monthuntil June 30th, 2013 for the purchase ofland, property and house construction.
For Consumer Loans outside shares therate is 1.00% per month; within shares (se-cured by cash, collateral or units) the rateis 0.90% per month. What makes theserates even more enticing is the fact thatthey are all applied on the Monthly Reduc-ing Balance. (For more details on loansand mortgages as well as discounts visitwww.easterncutt.com or contact the call cen-tre at 800-4ECU).
Indeed, ECU keeps its mission and visionin mind at all times when serving its mem-bers. When questioned on the creditunion’s mission and vision Regis explained
The common denominator linking all thesepurchases is that they are forms of ‘con-sumer credit’, which is a means of obtainingcash you don’t have to pay for non-invest-ment related goods and services by agreeingto repay in the future.
It is referred to as ‘consumer credit’ (or‘consumer debt’) because is used by con-sumers -- individuals who buy items that de-preciate (or diminish in value) fairly quicklylike computers, motor vehicles, furniture andvacations, or persons who use access tocredit to pay for regularly incurring expenseslike utility bills. The one thing most types ofconsumer credit have in common is theytypically come at a cost. That cost is ‘inter-est’, a percentage of the total credit amountyou’ve obtained added to the originalamount, so you pay back more than you ini-tially borrow.
With so many types of consumer creditnow readily available to us, it’s easy to getconfused. Let’s look at the three most com-mon forms:
PERSONAL OR CONSUMERLOANS
Personal loans from banks and financial in-stitutions like credit unions are a form of‘closed-end credit’ in which you apply forcash for personal purposes. The amount youborrow (the principal) is paid off at a fixedinterest rate in fixed amounts (installments)over a specified period of time.
Personal loans are useful if you require alarge amount of money you either don’thave or prefer not to spend. Loan interestrates are usually lower than credit cards andhire purchase so it’s possible to save moneyover the life of the loan. However, rememberthat loans are generally inflexible, with afixed payment due on a specific date each
month. It is also wise to shop aroundfor the best interest rate. Creditunions, for example, typically offerlower rates than commercialbanks so, in the long run, you repayless.
CREDIT CARDSCredit cards are the most com-
mon form of ‘open-ended revolvingcredit’. You apply to a bank for a lineof credit, which simply put, is thetotal amount you are ‘borrowing’with the flexibility to use as little oras much as you need, paying interest
on only what you use. The biggest advan-tages of credit cards are their ease of acces-sibility to ‘borrowed funds’, repaymentflexibility, and they are especially useful forsmaller payments.
However, credit card interest rates are typi-cally higher than on personal loans so it’s al-ways wise to pay off all or most of yourmonthly balance to avoid excessive interest.It’s never a good habit to pay only the mini-mum monthly payment because you mayend up in a situation where mounting inter-est places you out of your depth in creditcard debt.
HIRE PURCHASE AGREEMENTSHire purchase is a form of ‘installment
sales credit’ offered by stores for purchasingitems. It’s basically a store loan which youpay back in fixed installments with added in-terest over a specified period. It’s called ‘hire’purchase because, in essence, you are ‘hiring’what you buy without actually owning ituntil the original price plus interest is repaid.The store also has the right to ‘repossess’the item if you fall behind on payments.
While hire purchase is convenient for pur-chasing items like furniture, appliances andelectronics, the interest charges are usuallysubstantially higher than that of bank loans.So before you make a purchase, find out allthe fees and charges and work out what thetotal cost after repayments will be. Youmight be surprised at how much moreyou’ve paid over the original price had youpaid in cash.
16
So, you want to renovate your kitchen and have ap-plied to your bank for a personal loan to pay for the ma-terials and labour. You’re also considering buying a largerrefrigerator from the furniture and appliance store on hire pur-chase. To pay for the groceries you’ll be putting in the fridge, you’ll beusing your credit card.
Most children, especially young ones, can be
entertained very cheaply. Buy them an end
roll of newspaper from your local paper and
let their creativity run wild. Make a game out
of ordinary stuff around the house, like toss-
ing pennies into a jar, even. Realise that what
your children want most of all is your time,
not your stuff, and you’ll find money in your
pocket and joy in your heart.
Carol Boon
9
“Eastern zealously guards the philosophyand operating principles of the GlobalCredit Union System and has fashionedits mission and vision in congruence withthese philosophical underpinnings. As aconsequence, our MISSION talks about “adynamic financial co-operative deliveringsuperior quality service to our member-ship in accordance with sound businesspractices”. Our VISION speaks to the con-cept of a premier financial co-operative re-gionally with an international presence,exceeding members’ economic and socialexpectations.”
With 10 branches nationwide, Easternprovides services and products that aimto exceed its members’ expectations suchas a field service for its members at com-panies and schools. In addition, it is theonly credit union with its own ATM net-work and is part of the LINX network.ATMs are located at all 10 branches andthree off site locations the latest being atPiarco International Airport and the Port-of-Spain Ferry Terminal. Another greatreason to become part of ECU is the ancil-lary services it provides through its sub-sidiary EPL Properties Limited wheremembers can have access to conferenc-ing facilities, gym, pool, basketball courtand venues that are ideal to host wed-dings and other events. ECU is definitelyleading the way (for its members) to-wards a better future.
You can also visit Eastern’s Facebookpage to keep abreast of all their activitiesand win exciting weekly prizes.
15
Priscilla Bahaw is the daughter of anagricultural entrepreneur whose dreamhas come full-circle as she, too, is an en-trepreneur who wants to make her markin the Agriculture sector. Priscilla’s con-sultancy services and foray into the agri-cultural field is the culmination of adesire to “Improve food security by usingan innovative approach to re-invigoratingthe livestock sector of the local agricul-ture industry.” A graduate of UTT’s Mas-ter of Science in Industrial Innovation,Entrepreneurship and Management pro-gramme, Priscilla is presently pursuingfurther postgraduate studies as a Doctorof Philosophy in Entrepreneurship andCommercial Studies student at UTT, theNational University.
According to Priscilla, “Entrepreneurshipis an engine of economic growth which hasnational significance and importance forTrinidad and Tobago as we seek to de-crease our dependence on oil and gas”. Tothis end, she has made it her mission toempower small and micro business devel-opments as these entrepreneurs maketheir indelible mark on Trinidad and To-bago’s economy. As a Senior Lecturer inEntrepreneurship and Management Stud-ies, Priscilla has worked assiduously toshare her knowledge and training with
other small entrepreneurs. In fact, amongher future goals, is her desire to, “Establisha databank for entrepreneurship so thatsmall and micro business men/women canlearn how to do their own business plansand other skills that will enhance their en-trepreneurial capabilities.”
As a graduate of UTT and a winner ofthe Ministry of Labour and Small andMicro Enterprise Development’s, ‘SmallBusiness Innovation’ prize in 2010, Priscillacredits UTT with igniting the “dormant en-trepreneur” within and for instilling thevalue of “opportunity recognition” so thatthe true entrepreneur in her could emerge.She would like to expressly thank her UTTResearch Supervisor, Professor ValerieStoute, who, according to her, “has beeninstrumental in my growth and evolutionas an entrepreneurial postgraduate stu-dent.”
UTT is proud to salute Ms. PriscillaBahaw, an esteemed alumni who is a tes-tament to the University’s goal of “Prepar-ing a new generation of scholars to befuture global leaders.” Priscilla continuesto embody the entrepreneurial principlesset out by UTT, the country’s only NationalUniversity, as she pursues both her pro-fessional and academic goals.
UTT Postgraduate Student: Ms. Priscilla Bahaw
THE UNIVERSITY OF TRINIDAD AND TOBAGO
Sherry Jerimie
For many, the stigma of depression or amental illness is a deterrent to treatment; andit is disguised as not having the time ormoney to treat this illness, however, un-treated depression can impact more thanyour mental health. There is a higher likeli-hood of problem drinking or substance abusein individuals with untreated depression. Ac-cording to the University of Pittsburgh, onefifth of heart patients also suffer from de-pression, and can be a precursor to cardiac ill-ness.
Globally, as of 2011, over 121 million peoplesuffer from depression. There is ongoing re-
10
search to continually find more effectivetreatments for this illness. As a society,depression is everyone’s problem! The ef-fects of untreated depression are farreaching. It results in substance and alco-hol abuse - and broken families. It perpetu-ates generations of emotional suffering,and in some cases suicides and loss of thepotential of these individuals. Everyone, atsome point in their life will be affected bydepression, either their own or someonethey know; it is projected to be the secondlargest killer after heart disease accordingto research done by Murray and Fortin-berry.
Couples/Family TherapyDepression does not occur in isolation, it
affects the entire family and so it is helpfulfor all affected to have the support of cou-ples or family therapy. Statistically, a rela-tionship where a partner has depression ismore likely to end in separation or divorce.Couples therapy can assist in the restora-tion of communication and injured feel-ings, which may have occurred as a resultof depression. Psychotherapy can also re-assure children that they are not to blamefor the depression. Therapy can also givethe children a forum in which they canspeak about their experiences. Often par-ents in relationships with mental illnessare so preoccupied with managing the ill-ness they forget to pay attention to thesmallest most innocent victims of this dis-ease.
Team WorkThe partner of someone suffering from
depression may also be struggling withthe havoc depression can have on a rela-tionship. As a partner, you can seek ther-apy to educate yourself on the illness. Youcan also monitor medication compliance,
and provide encouragement when yourpartner is struggling to follow throughwith treatment, weather it is medicationor therapy or both.
UnderstandingAs you educate yourself about depres-
sion your interaction with the depressedperson will be more reassuring and sup-portive. Letting them know that you careabout them and that you are invested intheir mental health wellness and stability.
Talk about feelingsDesignate specific times to meet - as a
family - to talk about issues and emotionsthat may be impacting the family unit as awhole. Communication is especially impor-tant in families with children, helping themunderstand - as much as is age appropri-ate - what they are experiencing; it helpsto validate their observations and feelingsthat something is wrong. Through openhonest and empathic communication, theentire family can build on helpful tools andmodify those that may not be so helpful.
In those cases where psychotherapy isindicated, it is shown to induce and effectstructural changes in the brain, which mayhave been earlier effected by childhoodtrauma. You don't have to live with de-pression, there is help and you are notalone. Remember all of us know someonesuffering from depression.
Stay tuned for upcoming depression edu-cational workshops and support groups inJune. Please email Sherry if you would likefurther information, or to be emailed withdepression updates.
QUIT SMOKING FOR 2013 TODAY! With
LASER TREATMENTWith over 6 years of background
AND A SUCCESS RATE
OF OVER 90%with
THE LATEST TECHNOLOGYWE ARE LOCATED IN
CHAGUANAS
#70 Joyce Road 344-7332 474-2598
ONLY BY APPOINTMENT!!!!!0127001
Sherry Jerimie LCSW-R, MSW, MSPsychoanalyst/Psychotherapist
www.sherryjerimie.comwww.riesolve.com
In today’s fast paced society, it iseasy to lose track of things we haveto get done. Being organised is agreat skill to learn and it will help youto lower stress, save time and money,have a more productive and happieroutlook on life and consequently alsobring you closer to achieving yourgoals.
Sometimes making the decision toget organised can be overwhelming asyou start to think of everything thatyou have to do. It’s ok to take babysteps. The important thing is to justSTART.
Here’s 3 easy ways for you to getstarted!
Plan/Schedule your time: An efficient and reliable planning sys-tem is the number one strategy to bet-ter organise, prioritise and managetime. Make a to-do list and stick to it!Technology is your friend and you canutilise your virtual planner or calendarto add tasks as they come up and setreminders for things that need to getdone. Benefits of planning or schedul-ing your time include, never missing ap-pointments, remembering key dates,knowing where you need to be andwhen and structuring activities to elim-inate wasted time.
De-clutter your space:There is no such thing as organizing
clutter. Tidying up is not the same asorganising. Research has shown thatthe number one irritant is clutter. Donot hold on to things you think youmight need someday. So pick one ortwo indulgences, such as books, shoesor music, and get rid of the rest. Trythis: Get five boxes with the labels:Keep, Toss, Give away, Donate andTrash. You must be ruthless and avoidnostalgia! You must say no to junk. Re-member to be patient and don’t getdiscouraged! De-cluttering takes time.
Take control and Delegate: Taking control means making the
choice to be organized, choosing amethod and making the most of it. It
11
also means learning to say “no” and settingboundaries for yourself. You must know yourlimits. It is better to decline the responsibility ofsitting on a committee or picking up extrachores than to become overwhelmed and do abad job. You must also learn to delegate. Dele-gating is not a sign of weakness. It is a greatstrategy. Remember that you can always start
in baby steps. Just be sure to START. Try trust-ing people with simple tasks and when you aremore comfortable, you can work your way upto trusting them with more critical tasks.When you learn to successfully delegate tasksyou will find that it is easier to keep the stuffyou cannot delegate better prioritised and or-ganised.
Aurora Herrera
after doing your research. Geta recommendation and look attheir work. With incompetentcontractors you run the risk ofcompromising quality, unreal-istic budgets, inappropriatetools and missed deadlines.NEGLECTING MAINTENANCE. Why add orextend your home and neglectobvious repairs? Potential buy-ers will notice the termiteeaten cabinetry, loose tiles andleak spots on the ceiling.These make an impressionand cause deductions on theoffer for all they think they willneed to fix.TOO TRENDY. Will your reno-vation look garish or tired in 5years? If so, consider doingsomething else.
Over-reno. Do not spendmore than you can recoup anddo not increase the value ofyour home way over those inthe neighbourhood.
Think twice and ask yourselfif your contemplated upgradewill have universal appeal. Oth-erwise folks will be deductingthe cost to remove it fromtheir offer. Speak to real es-tate agents who have experi-ence selling in your area. Askthem what features are hot,and what are not.
Ann Moore-SpencerBeyond Drapery LimitedPhone: 868-678-3414Email: [email protected]: www.beyonddrapery.comBlog: www.beyonddrapery.com/blog/www.facebook.com/BeyondDraperyLimited
the centre of living. So puttingthe laundry in the kitchen orjust off the kitchen is a popularand well received decisionthese days. But not everyonewill feel comfortable with thelaundry integrated into theirwalk-in closet. Plus, if you havea 3 bedroom home you will bedevaluing your property byconverting a bedroom to amedia room or super outfittedgift wrapping centre! Your buy-ers will prefer the third bed-room. If you want a giftwrapping centre do so withoutencoding it into the hardscape.Do not compromise the totalfunctionality of your home.DOING-IT-YOURSELF. Pleasedon’t if you lack the skill or thetools. Your effort will look –like you did it yourself. Shoddywork undermines your home’svalue. Select your contractors
12
Why would you considerrenovating? Most people ren-ovate either to increase thevalue of the property (withresale in mind) or to make aninvestment in the functional-ity and comfort of theirhome.
So in short you renovate tomake your home more benefi-cial to keep it or more benefi-cial to sell it. Now if you neverplan on selling and your majoraim is to make an investmentin your comfort and enjoy-ment, you can do practicallyanything. But if you aim to sellat some point or use the valueof your home as co-lateral youneed to be aware that yourrenovations can actually de-value your home.TASTE SPECIFIC UP-GRADES. A great decision isto bring the laundry close to
Buy appliances basedon reliability, not what’scheapest at the store.
It’s worth the time to doa bit of research whenyou buy a new appliance.A reliable, energy effi-cient washer and dryermight cost you quite abit now, but if it continu-ally saves you energyand lasts for fifteenyears, you’ll save signifi-cant money in the longrun. When you need tobuy an appliance, re-search it.
Ann Moore-Spencer
