said she wanted to visit the Pyramids of Egypt, climb Mount Sinai
and sail on the river Nile like Cleopatra, so she took off. I spoke
to her as she sat on the aeroplane awaiting taxi, and she was rattling
at 300 words per minute.
wouldnt be excited? All it takes is about US$3,000, a few
maps and a heart ready for adventure. In my mind I knew these might
be the best days of her life, when the spirit is free and the bills
are so few.
had set a goal to save the US$3,000 in four months, and she walked
long distances, took the bus and only bought food, although she
often feasted her eyes in the malls. When she wanted new jeans,
she sent a subtle message that shell take her birthday and
her Christmas presents upfront. The message carried across the miles.
had traded the opportunity cost of coming home for Christmas, against
an exotic experience in the hunting grounds of the Pharaohs.
is not all about saving for the long term in your pension plans
and buying up real estate. Its also about living life to the
fullest, and taking time out to rest and rejuvenateand that
costs! Its really about timing and structure: when to save
and how to save.
who timed the foreign exchange market this year and dabbled in foreign
currency earned some 20 per cent on the Canadian dollar (CAD), in
the trade. If you bought Canadian dollars in January you would have
traded TT$5.5 for CAD$1. By mid December you would need TT$6.23
for the same transaction.
Euro was trading at TT$7.7 in January; the trade value is now TT$9.2.
The British pound was priced at TT$11.6 in January, that value is
now TT$12.7. The US dollar, in January was trading at TT$6.3 and
thats about the same.
home, the Barbados dollar started the year at TT$2.98, and now trades
is a commodity and represents a high-risk asset in the portfolio
mix. The return is also higher than average returns anywhere.
percentage of any portfolio that is exposed to high risk will depend
on the amount of time you have. The longer the time horizon the
greater that percentage can be.
irony is that it is only when you are older, you have the extra
money to actually afford to try out the foreign exchange market.
Younger people tend to live from pay cheque to pay cheque, just
to pay for food, transport, school and housing. They have little
the cruise ships Internet was exorbitant and she didnt
think expenditure on a SIM card for her phone was within her budget.
So I havent heard from her yet.
is worth what it can buy at any one point in time. You go girl!