Money Questions With Jael

In Trinidad and Tobago, money and personal finance conversations are nearly taboo subjects, except of course when we are complaining about not having any. That is because we are afraid to share our backgrounds, struggles, triumphs, and insights when it comes to personal finance.

This series, Money Questions with..., aims to share stories of your fellow countrymen and women concerning their views on personal finance and I thought there was no better way to start Making Cents than, to begin with, yours truly.


1. What was your relationship with money growing up?
My mother had me when she was quite young. As a result, I knew there were things she would not be able to give me despite her desire to do so. I saw her make decisions with the hope that they would benefit my future. As a result, I recognized money brought with it a sense of comfort and security. That said, my experience would have been much more devastating without the support of my grandmother.

2. Do you feel, you had a good education about money, either at home or at school?
I believe I had a fair education about money. As I said earlier, my mom made decisions that she hoped would be beneficial for my future, that said whatever she knew she taught me. However, she was learning about some things herself.
Other than with my mother, I lived with my grandmother and spent lots of time with her. I saw her run, a pretty successful business and I listened to her when she spoke about her personal finance journey.
In terms of school, I distinctly remember my Second Year teacher, teaching us about budgeting. I really don't know why it stuck but it did. I think I budgeted all my life after that lesson.


3. If you have debt, what are your strategies and philosophies for paying it down?
Sigh! Debt! I lived my whole life in fear of debt. Debt is oftentimes not your friend. That said, I did find myself in a SCHOOL/GATE related debt as a result of being wrongly informed. My strategy in relation to that debt was to allocate a portion of my income every month to attack.
I also have a credit card (which is considered a debt). I only use my credit card once I know I have money in my savings/ chequing account to cover it. As soon as the transaction takes place, I generally pay it off immediately. "Ah telling yuh, ah 'fraid dat ting like de plague."

4. What is your current job/jobs and how did you get where you are today in your career?
I am currently a Primary School Teacher.
I got my degree in Marketing. After graduation I worked in a school as an OJT and about two months after the end of my contract, I got an interview with a private primary school and viola!

5. What was the first time you negotiated?
I would love to say in my initial interview. However, that is not the case. I think my first negotiation was probably when I did my first side hustle.

6. What is something you understand about money now that you wish that you had before you graduated from school and entered the world of work?
I wish I knew just how hard it was to come by. I mean there was head knowledge but I must stress that experience is sometimes a better teacher. I say that because I assumed once I took certain steps the world would be at my feet, career-wise. That was not the case.
I am very grateful for my current job, however, teaching was not the trajectory I had planned for myself.

7. What is the biggest money-related mistake you made? What did you learn from it and what do you do differently now?
The biggest money-related mistake I probably made was not saving more while I was at university. I was extremely blessed to have been supported by my parents while going to university and living in the era of GATE. While I did save some money, I did also spend a lot.

8. One big financial goal you still have for yourself? Are you using strategies to pursue them?
Just one? Hmm. Well, currently my goal is to save six months of living expenses.
My strategy is to put 1/2 of the amount budgeted for savings toward my Emergency Fund.

9. How do you deal with financial setbacks when they happen?
So far I haven't had anything catastrophic happen to me financially and I really hope I never do. However, if something unexpected happens I dip into the Emergency Fund I am building to cover it and then cry a little bit inside because it means I have to start over with that again. I also do without the minor luxuries I may give myself from time to time.

10. What is your definition of success? Do you consider yourself to be successful?
Success is being happy, comfortable, secure and being a blessing to others. By that definition, I am almost there.