Build Your Wealth

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About Course

Personal finance that works on a Jamaican budget, from your first budget to your first investment. Short videos you can watch on your phone, with the full transcript beside every video and a quick check after each lesson.

Course Content

Week 1 · Think Like a Wealth Builder
The four steps of building wealth (earn, keep, grow and protect), your money story, and your net worth.

About the Course
Introduction
Where Are You Now?
Your Money Story
Money in One Word
The Four Money Flows
Habits, Not Just Income
Income Is Not Wealth
Wealth Around You
Case Study: Two Neighbors in Portmore
Money Lab: Your Net Worth
Your Money Picture
Week 1 quick check

Week 2 · Know Where Your Money Goes
Track where your money goes for seven days and build a budget with a monthly amount for saving and investing.

Introduction
Where Are You Now?
Predict: Where Does It Go?
The 7-Day Spending Diary
Need, Want, or Save and Invest?
Small Leaks Sink Big Ships
Gross Pay vs. Take-Home Pay
The 50/30/20 Rule: Is It Complete?
Build Your Budget
Budgeting on Irregular Income
Case Study: The Campbells of Spanish Town
Money Lab: Run Your 7-Day Diary
Your Budget
Week 2 quick check

Week 3 · Borrow Wisely
Borrow to build, not to spend: interest, hire purchase, microlenders, your credit report and a plan to clear debt.

Introduction
Where Are You Now?
Good Debt, Bad Debt?
The Price of Money: Interest
Hire Purchase and the True Cost
Microlenders and Payday Loans
Why Loan Rates Rise Fast and Fall Slowly
Your Credit Report
Sorting Your Borrowing
Getting Out of Debt: Snowball vs. Avalanche
Case Study: Tamika’s Bonus
Money Lab: Compare Three Loan Offers
Your Debt Plan
Week 3 quick check

Week 4 · Save and Build a Cushion
Pay yourself first, build an emergency fund and choose where to keep it: partner, bank, credit union or building society.

Introduction
Where Are You Now?
Pay Yourself First
The Emergency Fund
Partner: Strengths and Risks
Bank, Credit Union or Building Society?
Inflation and Your Savings
Saving in US Dollars?
Digital Money: Mobile Wallets and JAM-DEX
Case Study: The Partner That Broke
Money Lab: Open Your Cushion
Your Savings Plan
Week 4 quick check

Week 5 · Grow Your Money
How compounding works, risk and return, and pensions, NIS and NHT.

Introduction
Where Are You Now?
Predict: What Makes an Investment?
The Power of Compounding
Start Early, Start Small
Risk and Return
Pensions, NIS and NHT
What Moves Returns: Interest Rates, Inflation and the J$
Case Study: J$5,000 a Month From Age 25
Money Lab: Build a Compounding Table
Week 5 quick check

Week 6 · Where Jamaicans Invest
Treasury bills, bonds, the Jamaica Stock Exchange, unit trusts, property, small business, and how to spot a Ponzi scheme.

Introduction
Where Are You Now?
Treasury Bills and Government Bonds
The Jamaica Stock Exchange
Unit Trusts and Mutual Funds
Property and Land
Build or Back a Small Business
Spotting a Ponzi Scheme
Spread Your Risk
Case Study: The IPO Rush
Money Lab: Read a Fund Fact Sheet
Your Investment Plan
Week 6 quick check

Week 7 · Protect What You Build
Insurance, health cover, hurricanes, scams, protecting your accounts, and wills and family land.

Introduction
Where Are You Now?
What Insurance Really Does
Which Cover Do You Need?
Health Cover
Hurricane-Proof Your Home
Common Scams in Jamaica
Protecting Your Accounts
Wills and Family Land
Case Study: After the Hurricane
Money Lab: Your Protection Check
Your Protection Plan
Week 7 quick check

Week 8 · Stay the Course
Keep going when the market falls or life gets in the way, and set up your 90-day money plan.

Introduction
Where Are You Now?
Impulse vs. Plan
Social Pressure and “Bling”
Family Obligations and Remittances
When the Market Falls
Allies: Accountability Partners
Case Study: Twenty Years of Investing
Money Lab: Set Up Your First Monthly Investment
Your 90-Day Money Plan
Your Money, Your Future
Finish the Course
Next Step: Trade the Economics
Week 8 quick check