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Jamaicans have mastered the art of delusion.
Jamaicans are delusional about most things, but especially about financial matters. My claims are specifically directed towards a group of particularly quixotic Kingstonians, but make no mistakes; we are all culturally infected with the same disease.
Lets establish a few facts:
- Jamaica’s debt burden is over139% of GDP (almost as high as Greece’s, in real terms, but higher in terms of the size of the economy)
- The country had three consecutive quarters of contraction last year, which means we are officially back in recession after a very brief respite.
- According to the Statistical Institutes 2012 labour force survey, the unemployment rate in May 2012, went up to 14.1%, from a stellar 12.9% the previous year. (The unemployment rate does not reflect persons who have dropped out of the labour force entirely and further still, the unemployment rate for youth16-24, is much much higher than the average of the overall population).
Now lets be clear, individuals do not live their lives based on national statistics, nor should they be expected to. However, national context can influence individual financial health. On the surface the upper class Jamaican party lifestyle would have outsiders believing that the country is holding firm and steady economically.
We are just exiting the Christmas season, AKA raving season which is marked by the bombardment of facebook party pictures of the most elegantly coiffed, poised, well dressed, perfect human beings. Christmas is generally a time for celebration, and celebrate we do. What bothers me however, is that the same faces we see in party pictures throughout the year, resurface with a ferocious frequency during this season. Two to three all- inclusive parties during this season can cost upwards of 25,000 JMD. Not to mention the general cost of ‘hot girl/ hot boy’ maintenance which, for just clothes hair and nails, may rack up a monthly bill of 15,000 JMD (conservative estimate).
Lets do some math (not to worry, its all subtraction):
The average college educated young professional in Jamaica, makes a monthly salary of between 40- 80 thousand dollars, if you’re really lucky. Lets be generous and say and individual gets to take home a whole 80 thousand after taxes (lies). If we have well-established parents we can avoid paying rent by living at home. For those of us fortunate enough to have a car, this comes with a car note (at least 20,000/month), gas expenses (another 20,000).
But would you look at that!! Half the salary is gone and we haven’t handled quarterly expenses of car insurance, nor have we touched on that pesky students loan, much less actual sustenance.
Realistically the average Jamaican professional, below the age of 30, takes home 50,000 JMD per month. Of course, there are many of us who are able to claim a much higher salary, but not that many. That means this is an illusion:
At any given time, half the crowd that shows up to many of these events, should not be there. That means many of us are living a LIE!!!
The fortunate few who have advanced degrees or become bank managers early in their careers, will maybe have a bit more wiggle room with regards to salaries, since they could take home upwards of 150,000 a month after taxes. Lets be real, there are only so many banks in Jamaica, and only so many managers under 30.
Jamaican society has always been marked by a privileged few; the money-makers, job creators, political movers and takers. But lets face it, it takes thousands of persons to have built and sustain the party industry to the level that it is in Jamaica. There are niche areas of the party market (especially the more exclusive, all-inclusives) that have inelastic demand. The seductive powers of the culture of exclusivity has so enthralled the masses, that we seem to have all lost ourselves in a culture of showmanship and escapism.
Stuntin’ around these parts, isn’t just a habit, it’s a priority. In many people’s minds, if they don’t keep up, they will get left behind. I have spoken to many of my counterparts who feel they have two options: dig themselves into a hole of moral and financial iniquity for keeping up appearances, or be overcome by the scourge of bad mind.
This mentality is encouraged by the fact that we are financially illiterate, and simply have not done the math. Do the math. It will unearth the LIES.
Unlike our parents’ generation, most of us delay marriage and children, so of course, our lives look much different. The young adult/ extended adolescent period of between 18 and 30 should be used to ground ourselves personally and financially so we can eventually stand as independent adults. Yet we are too distracted living a lie, to do the necessary work that the 20s requires. Of course we should have a good time, that’s what ‘youth’ is for. But when will we figure out that this big lie is sucking the fun out of life? Do you know how annoying it is to be completely in your element at a party and be stopped mid dutty wine for a picture? Because if its not photographed it didn’t happen right? In the facebook age of flossing, what you wore and whom you were with, are far more important than how you feel.
Class and status are the ultimate demarcations of Jamaican society. The notion of class is as deeply entrenched as the idea of race in America. It pleases us greatly to rub shoulders with the descendants of the few families with real economic control. In an effort to keep up with the Jones’ (read, Mattalon’s, Hendrickson’s and Issa’s), many of us lose ourselves in an unsustainable lifestyle of debt and stagnation. Us Kingstonians who happen to live above the half way tree clock, feel we have arrived. We forget the realities of the sacrifices made by our parents to get us to where we are. We have no idea how much our lives actually cost. What is the real price (emotional, financial, spiritual) our lifestyle?
Yes, you live in Cherry Gardens now. But that’s not your house. It belongs to your parents, or the bank. You, my dear, have not shit. In fact, you may even have negative shit, judging by the fact that in today’s world acquiring a tertiary education probably means acquiring debt.
There are many forms of indebtedness. Now let’s talk about whoring*. (You can congratulate me on the crassness of that segue later).
I couldn’t possibly talk about the lifestyles of the broke and wutliss without addressing wutlissness, now could I? These lives are subsidized by vaginal and penal transactions. I was talking with an acquaintance that works in a high-end swimwear store in Kingston. At this store it is possible to buy the most up to date collections of swim-wear and accessories that can be found in the western hemisphere. Her store is never empty. She makes it clear that if a week goes by, in which she doesn’t have at least two customers every day- that is cause for concern. Women regularly spend upwards of 1000 USD** at once in the store. That is to say, they don’t just show up, they show out. My acquaintance revealed some interesting facts: many of these women were shopping from the same account. That is to say, wifey, matie and girlfriend are dipping in the same crawny pool (in more ways than one). But hey….at least they look fly at the beach. Didn’t you know? It’s a crime against humanity to show up to maiden cay in anything but a yatch. Never mind that it’s somebody else’s.
Go ahead and sparkle boo!
We’ve developed a myriad of excesses on someone else’s dime. After you acquire the right shoes and the right clothes, of course you need the right car. It’s hard to tell just one lie. If this lifestyle can’t be sustained by one transactional relationship, it’s on to the next. Never mind, that the benefactor has dipped into government coffers to maintain everyone’s habits.
Life is in the details- you prefer your images a bit out of focus.
It is basically a guarantee that many of us will hit 35 without a ‘pot to piss in’ or any idea of how to feed ourselves, much less our children. Nevertheless, the only time we are encouraged to talk about money is to lie about it. I have encountered very few people will dare to utter the words ‘I can’t afford it’.
The next time, I find myself swept up with the currents, I will ask myself- can I really afford the life I live? I advise you do the same.
*Listen, I may not personally be about that life, but do what you do. No judgment. I just call a spade a spade: transactional sex= whoring. Also, I know as many guilty young men as women.
**No judgment until you start frequenting swimwear shops dropping 1000 USD in one sitting. Have you no business plan?
]]>I am assuming that the twenties are both the suckiest and most amazing time of life in general. I am already over the hill of the mid twenties and thus have major anxiety about making the best use of this time. Instinctively I feel this is the time to lay a firm foundation.
The decade of the 20’s has, so far, given me numerous opportunities for renewal. I hit the reset button, this last time, in a quest retrain my brain and re- educate myself towards happiness and prosperity. It’s a learning expedition of sorts.
Even my world- class education has left much to be desired. Unfortunately I wasn’t trained in financial literacy, finding my strengths and how to develop an appropriate daily regimen.
Ask and you shall receive, they say. Well this week the answers started ‘falling off the shelves’ so to speak. Below are two out of the several useful resources I found:
1) Finding your calling:
Marcus Buckingham is the author of several books based around finding personal strengths. Buckingham’s’ course about discovering your strengths can be found here.
Identifying, and building strengths is the key to finding what you should do with your life. We are trained to identify our weaknesses and improve upon then, when in reality the key to our success and fulfillment lies in our strengths. Working on strengths will also help up improve our weaknesses. Strength training is the first step towards all else falling into place
We often define strengths and weakness based on what we are good at, versus what we aren’t so good at. Yet, we can perform very well at tasks and roles, which are in fact our weaknesses. Strengths should be identified based on how activities make us feel. Activities we are energized by represent our strengths.
Often we chose professions based on weaknesses. Women especially, get stuck in tasks they perform well at since our performance at these tasks please others. We tend to ignore the fact that these activities deplete us. Activities, which drain us, are our weaknesses, even if we are good at them.
This information is incredibly useful for those of us trying to find focus. Finding a niche comes from finding things that energize us, as opposed to things that make money or please others.
Even though I was not raised to work on strengths and neglect weaknesses, I was intuitively inclined to accept this information, since I already have some idea about what my strengths are. However, there is some amount of trepidation attached to being fully honest with yourself about the things that you truly should not be doing, particularly if you do them well.
Also, not focusing on improving upon weaknesses has implications for our career choices. How may times are we tempted to take a great salary, or accept and invitation to an event, that may appear prestigious to the outside, but will ultimately drain our energies and pull us out of alignment with our goals? Aren’t we are trained to pursue opportunities based on how they sound/ the status, rather than making our decisions based on how the day to day activities associated with the job will enrich our lives from the inside out.
I found this resource to be very useful as I set out to redesign my life. In asking myself how I want my life to look in 5/15/ 20 years, I have to consider what I want my daily regimen to look like at each point. Rather than visualizing my life in terms of achievements, at each check- point, I would like my daily regimen to be composed of more strengthening activities and less depleting activities.
2) Developing a daily regimen:
Steven Pressfields’ The War of Art, is the new Holy Scripture. It wasn’t a good idea to start reading this book last night, to help me get to sleep. Needless to say, I am more than half way through, and couldn’t wait to share. Below is a quote from the book of Resistance:
“The more important a call or action is to our soul’s evolution, the more Resistance we will find towards pursuing it.”
When we find our niche, or that which we are meant to do, Resistance shows up as the constant distraction away from our higher calling. I love the quote above, because it shows that Resistance is strongest when you have found what it is that you are supposed to do. Very often we make excuses for our inability to do our work. We follow Resistance’s misdirection and mistake our lack of discipline as an excuse to ignore a calling. Often, we tell ourselves “if I am really supposed to do this wouldn’t it come naturally?”. In those moments Resistance wins.
The artist is anyone who called by their higher creative function, the painter, the writer, the entrepreneur. The artist must wage a daily battle with Resistance, in order to formulate the habits, which will facilitate her artistry. The artist EARNS inspiration. Inspiration (or genius) only shows up after the artist has done the work.
“Every sun casts a shadow, and genius’s shadow is Resistance.”
All of us have to do the work. But figuring out how to overcome Resistance is a daily battle I struggle with. Developing a regimen that incorporates all the elements I must work on daily, including exercise, self- learning, mediation, completing the daily to do list, is becoming extremely difficult in the face of the never- ending distractions of the modern world.
I consider this an essential book for anyone who intends to create- whether it’s a business or a work of art. I already predict re reading this book several times. I just hope the book doesn’t become a tool for procrastination! More on this to come…
]]>“Discontent is the first necessity of progress.”
– Thomas Edison
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