Trinis wish for stocks, savings, homes

New Year’s resolutions seem like a great way to appraise the last year and set new goals for the next. Sadly, before mid-year most people backslide from their commitments.

Hair salon owner, Patricia Simon said while it is extremely important to set goals she rarely keeps her resolutions.

“Firstly, I want to thank God for all that he has blessed me with and it is my prayer for TT’s crime situation to get under control. You can never have enough and as a businesswoman, more money is always better to have. My New Year’s resolution is to work harder to make more money. I don’t always keep my commitment but I try very hard to succeed because a lot of times you make plans and things do not always go as you wish.”

Simon said after she breaks her promise to herself, she sometimes tells herself most of the commitments she makes are more or less wishful thinking.

Asked what she would do if she had financial freedom, Simon said the one thing she would not do is invest her money in TT.

“The economy is not at its best. Making investments might not be the best thing to do at the moment because investing these days in TT is a huge risk.

“If I was given the opportunity of financial freedom I would travel and help those who are in dire need of help. This country is not like how it used to be before especially when it comes to doing business.”

Dija Beard, 27, a credit supervisor said her resolution is to save more money to be in a better financial position in the future.

She said most times she keeps her commitments and has been successful with some of them over the years.

“I manage my goals by putting measures in place and not repeating the same mistake twice. Sometimes I feel if there were more literature and programmes on saving in the public domain, it might help with my quest to save.

“I would read just about anything to teach me how to manage my income. I always try to convince myself that it is necessary to set goals and conquer them.”

Beard said at the beginning of the year she has already set aside money to begin the process of saving.

Asked what she would do if she had financial freedom, Beard said, “I would invest in stocks and buy a house. I would get returns from my investments and after I pay off my mortgage, I can still have an income from rental of my property.”

One vendor, who only gave her name as Tamara said her resolution for 2020 is to complete renovations to her home.

She said since 2013 she has been trying to save up money to finish her home.

“This would be the biggest dream come true for my family. I come out here every day with hope and pray sales would pick-up.

“It is a long-term goal as a single parent and I know it would be achieved one day. Since I know myself I always set targets and try to meet them. I always encourage my children to do the same. I think it is important to challenge yourself.”

Tarmara said she believes if there were programmes available to educate the public on saving, it could encourage people to save.

She said most people depend on the banks to gain interest but suggested there were other legitimate ways.

"It is also my hope to save more money, not only to complete the house but to provide for my family to have a better life, to afford the necessities they require. It has been more than six years I have been trying to accomplish this. If I had financial freedom, I would finish my home and invest in one or two more houses in order to rent them out to make more money. I think it would be an great investment because people are always looking for place to rent."