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Monday Inspiration: Budgeting with Kerron Clarke

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Blessings continually to Kerron Clarke, a graphic designer and owner of the BudgetLeaf Planner brand – a local service that helps you to manage your budget. May we learn from her words.

 

How exactly is budgeting supposed to work?

“Based on my personal journey in budgeting and what I have observed from my BudgetLeaf platform, a lot of people have a misconception as to what a budget is, and what it’s supposed to do. Yes, a budget is supposed to help you manage your money, but there are different ways in which you can go about doing this. There are so many different rules out there as it pertains to budgeting; there are so many different tools that people can use; but at the end of the day, it’s to ensure that you have a system in place to manage your money, so you’re not living paycheque to paycheque or hand to mouth. It also helps you to effectively save. This is how a budget works: you know how much your income is, you know how much you can survive on, you know how much you’re saving, planning for a rainy day, etc. A budget eases your mind. Start with tracking your money; if you do that, then you know where you stand. Otherwise, you’re just spending recklessly.”

 

Do you have any advice for people who find it hard to plan ahead?

“My advice for people who find it hard to plan is 1) change their mindset and 2) refocus their vision. Planning ahead means you have to be visualizing yourself in a better situation than you are right now, so – maybe 5 years from now, you want to have a degree. Well, if that is your goal, how do you break that goal down? Planning ahead is just more about having a mindset, understanding that life can be better than what it is right now. You start with a mindset understanding you can aspire for more, even if you are comfortable. If you’re in your 20’s now and you want to have kids at some point, start planning from now. You could start saving for your child’s college fund before you even have kids.”

 

Where can one start when trying to begin the habit of investing?

“If anyone wants to start the habit of investing, my first recommendation is to understand their money. Learn first how to manage the money you already have, because if you cannot do so, how can you expect to manage more money when you start investing? Even if you don’t know how to manage the money (it doesn’t matter how much is coming in), it’s still going to feel like you’re living hand to mouth because you just blow money.”

 

Do you see Covid-19 as having a totally negative effect on businesses in the country?

 “I would say that it’s 50/50. I do know some businesses that have closed down because of Covid-19, and I do know businesses that have taken a U-turn and actually went digital; it has really expanded their business. A lot of entrepreneurs will prosper after this pandemic. For the most part, this has really driven Jamaicans to be more digital and to be more open to the digital space. Pick up a trade that you can learn from home (digital marketing for example), learn a skill and start making money! I really believe that Jamaica will be good, to be honest, because we know how to adapt.”

 

How do you manage to calmly process your next move in a time like this?

“Well, I would say that “calmly” is an understatement” (laughs to herself). But, as it pertains to moving forward, one of the good things about this pandemic and the fact that so many persons are quarantined is that you now have the attention of people. People are now online, and at home. With that said, this is the best time to be making connections and to be putting yourself out there. There’s no greater time than right now; a lot of people are starting over, and that’s not necessarily a bad thing when paired with experience. I’ll be taking this time to just revamp myself, see where I’m at and see where I can make the best of this opportunity.”

Please feel free to contact Kerron at:

Instagram

Facebook

Blessings in abundance!

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