By Basia Alicia Powell
We all have a money language. However, most of us are not aware of our money language, or where it originated.Many of us feel that we will learn how to manage our money at university, but we all know that did not happen. Many people graduate with enormous debt. The truth is, our money habit is connected to our upbringing , in most cases. That language can change once you become more aware of your money habits, its origins and make a concerted effort to find professional help to develop better financial habits.
In our recent podcast, we discovered that people save for different reasons. Some people save out of the fear of not having. which is why in some countries around the world, it is referred to as the “rainy day fund”. I grew up in a culture where the term “rainy day ” is associated with scarcity and lack. In modern times, many affluent people consider rain to be a positive thing for their bank account. We also hear the term, “make it rain” which usually refers to an outpouring of money.
Don’t get me wrong, saving is a great habit, once you use your savings as a tool to create more wealth. However, for those of you who are saving as a result of fear, that may not be such a good financial habit or mindset. Do not allow your money to hold you captive. Many years ago, I discovered that my financial results had strong ties to the scarcity mindset that was handed down to me from my ancestors. As I grew spiritually, my attitude towards money changed for the better. As my faith grew, my money grew. As I now understand it.
Hebrew 11:1 “Now faith is the assurance of things hoped for, the conviction of things not seen.”
Base on my interpretation of the above, I need not worry about a thing. The more people I help others, the more the Creator of the universe blesses me. He just needs us to believe that He is capable of supplying us with abundance. Once I fully embraced this new mindset, my brain experienced a shift, I was no longer saving for the rainy day. Instead, I was making it rain. Everyday, I was blessed enough to wake up, I held on to the belief that, ” Money will always know my address.” I do not see money as something I need to hoard, as a result of the fear of losing it. Once my mindset changed from commodity to provisions. Everything changed. Money is not attracted to people who worry about it or people who are afraid to lose it. Money is attracted to people who operate with an abundance mindset.
Today, I had the most amazing conversation with some brilliant queens from around the world, for the first of our two part series on “Money Language- Part 1” We all admitted, that we did not receive formal financial coaching while we were growing up.. Even though, we all grew up in different countries, our lack of financial education was a central theme. We also realized that nothing is wrong with loving money. We need money to enjoy our existence here on earth. However, when that love is transformed to greed , that is not something any of us endorse.
Take a look at my commentary panel and follow them on Instagram:
Mrs. Amanda Reifer – Barbados
Mrs. Amanda Reifer presided as Head of the Cave Hill Academy of Sport in the UWI Faculty of Sport (2015-2020). She holds a BSc Management and MSc International Management with Distinction from the University of the West Indies, Barbados. She is currently Deputy Dean, International Partnerships and Business Development at the UWI Faculty of Sport and is founder of her own business consultancy, VAR Consulting.
Mrs. Reifer was the architect and driving force behind the establishment of the first academic sports programs at Cave Hill Campus: Certificate in Management and Administration of Sport, BSc Sports Sciences and MSc Sports Sciences degrees. She successfully negotiated the first double degree with the University of New Brunswick, Canada to deliver the MSc Sports Science degree.
She worked with the team to set up the sports science labs for biomechanics and exercise physiology – the first to be established in the Caribbean. These labs are used to deliver the practical component of sports science degrees and also provide testing and analysis services to national and regional teams.
Mrs. Reifer successfully managed sponsorship funds from Sagicor Life Inc. for the Academy of Sport totaling US $1.2 million. These funds have been instrumental propelling the UWI Sports Academy allowing for further investment in state of the art facilities, high tech equipment and pilot programs in the area of sport science. She was a founding committee member of the first Interregional Congress of Caribbean High Performance Sports Centers, held in December 2019, which for the first time brought together English, French and Spanish speaking sports administrators across the Caribbean.
She was the recipient of the Barbados Sports Administrator of the Year Award 2017 and currently sits on the Minister of Sport’s Standing Committee for National Sports Development in Barbados. Mrs. Reifer was a member of the Cricket Committee, Cricket West Indies (CWI) and now serves on the CWI Franchise Review Committee as well as the High Performance Task Force. She was recently selected to the International Cricket Council (ICC) Future Leaders Programme, an initiative to address the under-representation of women at various levels of cricket administration. You can follow her on Instagram
Mrs. Paula Marie Hospedales- Bosland- Bahamas
Paula-Marie Hospedales-Bosland moved to Nassau, Bahamas from Trinidad and Tobago in 2007. She is the mother of two sons, aged 16 and almost 13. Her younger son, Obasi, is on the Autism Spectrum and is functionally non-verbal. Paula’s professional background is in IT and Project Management. She works at Colina Insurance Limited as the Life Operations Business Analyst Manager and the Reinsurance Administration Manager. She is based in Nassau, Bahamas. You can keep up with her on Instagram
Mrs. Maua Mosha Alleyne – Tampa
Maua Mosha Alleyne, a Public Health specialist who is currently serving as a Senior Biostatistician at a pediatric hospital research department. She is also a Tanzanian African print designer who uses her passion for African print to change the narrative about Africa. Her work is available on YouTube under “MaAfriStyles” and you can keep up with her on Instagram