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New Year, New Me… Affordably: The Rewind Ep. 3

NASSAU, BAHAMAS – “New year, new me” – a saying that often falls to the wayside for many people as the year goes on. New Year’s resolutions can be a great way to accomplish physical, mental, or financial goals; however life happens.



NASSAU, BAHAMAS – “New year, new me” – a saying that often falls to the wayside for many people as the year goes on. New Year’s resolutions can be a great way to accomplish physical, mental, or financial goals; however life happens.

In episode III of The Rewind – an Our News Digital Podcast – hosts Jhanae Winter, Jasmine Lundy, and guest host Kriston Saunders discuss many ways to hang onto your resolutions.

RF Bank & Trust Security Investment Financial Advisor Tishrea Johnson also weighed in on how to reach those financial goals.

What prevents you from sticking to those New Year’s Resolutions? Let us know in the comment section.

Watch the latest episode of “The Rewind”.

How to Stay Healthy on a Budget

As of February 2022, 47 percent of Bahamians were living below the poverty line, according to Minister for the Public Service and Foreign Affairs, Fred Mitchell. This is a major cause for concern, as inflation continues to rise globally. 

In July 2022, the Ministry of Social Services announced it will increase benefits by 10 percent, however, it still may not be enough for some families. 

Many Bahamians are struggling to provide for themselves. Families can try the following to make their dollars stretch and keep food on the table:

  • Starting a backyard garden
  • Buying produce locally
  • Purchasing frozen goods
  • Opting for inexpensive yet healthy brand foods
  • Purchasing dupes
  • Price comparing
  • Couponing
  • Budgeting

Fighting New Years Blues/Anxiety

Holiday blues often creep up on special occasions for various reasons. Whether it’s growing in age, not meeting certain goals, or other issues, it’s crucial to find things that can keep you grounded.

Therapy – Therapy allows us to process our thoughts, emotions, and behaviors. Although some people shy away from therapy, others often find revelation in the process. Sessions can also help to hold you accountable and stick to your goals. There are free resources available in The Bahamas, as well as support in some schools and colleges. 

Strengthening your spiritual connection – For many, having a strong spiritual connection to God better prepares them for the trials of life. Hosts Jasmine and Jhanae explain why it was important for them to spend time in the word while crossing over into the New Year. For those willing, this can be an effective way to fighting those New Year’s Blues.

Finding your joys – Tapping into your likes and passions can help you to unwind. For example, painting, singing, or even trying something new, can help you to center yourself and dodge those New Year’s blues.

How to Budget

Saving money is a reoccurring battle for many as hyper commercialism, hyper consumerism, and constant money grabbing ads flash across our screens. However, there are many ways we can keep funds in our pocket just a little bit longer.

Unsubscribing  – Unsubscribing from unnecessary apps and websites are a great way to save money. Although it may feel luxurious to have access to the content, ask yourself, do I really need it ? Is it possible to find this information elsewhere? Remember, every dollar adds up, for example, if an app cost $7.99 per month , that’s $95.88 a year. What other responsibilities would that money go towards for you ?

Enforcing the 50/20/20/10 budgeting rule – According to Tishrea Johnson, RF Bank & Trust Security Investment Financial Advisor, enforcing the 50/20/20/10  rule will help to keep finances in order. She says 50 percent of your salary should go towards expenses such as light bills and water bills, etc. , 20 percent toward saving or investing, the other 20 percent can be used for leisure spending while reserving 10 percent for tithing or donations.

Going without – Some purchases are absolutely necessary, however, other purchases can be held off for days, weeks, or even years. Determine which items can be purchased another day, then grab them when you are a bit more financially stable.

Finding The Right People To Help You Meet Your Goals

It’s important to find the right people to entrust your life plans to.

In The Bahamas, financial advisors are required to pass the Series 7 exam and be registered, before they are qualified to offer financial advice. Certified financial planners however, are required to pass the CFP ( Certified Financial Planner) Board Exam and register before they can offer advice.  

The role of a financial advisor is to assist you in making short-term financial decisions such as budgeting or investing. A financial planner on the other hand, assists with long term financial goals such as planning for retirement, expanding your family, managing debt, or saving for college.

Starting New Ventures

During the COVID-19 pandemic, starting a new business venture became a necessity for many. However, starting a new business isn’t easy.

Here are a few tips to help you navigate your new endeavor.

Do your research – It easy to become overly excited as you plan your business but crossing your t’s and dotting your i’s are essential for your success.

  • What product am I selling?
  • Who is my target audience?
  • How much will this venture cost?
  • Secure financing
  • Obtaining a business license, bank account
  • What are the pros and cons of all decisions made?

Overall, sticking to New Year’s resolutions can be difficult but using these tips and tricks can help you to maintain your goals.

Look out for the next episode of The Rewind, dropping the last Sunday of every month on the Our News Bahamas YouTube channel.