Do Trinis save? Where the money coming from?

[adnj]

Any idea what's the national average cost of renting? Just asking.

It's buried on the same site - here is the link.

https://www.numbeo.com/property-investm ... And+Tobago

[paid_influencer]

going back to the topic..

Trinis do save, but I would divide Trinis into major class groups first.

At the top 5%, you have people that getting more money than they know what to do with. They are saving money only because they literally can't spend it fast enough. These fellas buying up everything from land, factories, malls, groceries, restaurants, companies, banks, forex, etc. If you look at the wealth gap in the country - everything is owned by a handful of people. That concentrated wealth is where the majority of the island's productivity increases and profits go -and definitely not into increasing salaries for workers (lmao). Trini 'savings' ultimately end up in those 1% hands, which I think is one of Zoom's points.

At the bottom 30% or 40%, you have people that must save by force. People that work on minimum wage, informally employed or self-employed don't know when or where they will get income next. So they have to save money as a matter of course, even if it is to buy a phone or a computer or pay school fees. I know many people working donkey years for small income but have 0 debt and money in the bank.

The people I don't see saving are the people who should know better. These fellas educated and have a degree and think that makes them better than the poors. They get a "good" salary (that a 1%'er would laugh at) and try to live the American Dream - house, cars, credit card, vacations, christmas shopping, etc. To do that, they go into debt and spend much more than the perceived lower class.

To borrow an analogy - if you have two bananas, you eat one now and save the other one for tomorrow. These fellas have their two bananas coming in assured so they invest in a banana smoothie machine to blend their bananas up with chocolate, vanilla, a lil ice, some five fingers, because they doh want to be associated with the people eating 1 banana like a sufferer.

I think Zoom hit it when them he said they feel they being responsible by paying the credit card bill off every month. That doesn't make somebody responsible. What makes you responsible is living meagrely and avoiding lifestyle creep in the first place. Like them old indian people zoom always talking about.

[adnj]

I think Zoom hit it when them he said they feel they being responsible by paying the credit card bill off every month. That doesn't make somebody responsible. What makes you responsible is living meagrely and avoiding lifestyle creep in the first place. Like them old indian people zoom always talking about.

Paying your bills on time and the balance on your credit card in full each month is the very definition of financial responsibility.

[paid_influencer]

see sometimes I do that. I quote myself to make it seem like I am not actually an alt account. And nobody even notices

[zoom rader]

I think Zoom hit it when them he said they feel they being responsible by paying the credit card bill off every month. That doesn't make somebody responsible. What makes you responsible is living meagrely and avoiding lifestyle creep in the first place. Like them old indian people zoom always talking about.

Paying your bills on time and the balance on your credit card in full each month is the very definition of financial responsibility.

The mere fact of owning a credit card shows a person is gaslighted and is not financially responsible.

Paying off a credit card is not being financially responsible and shows people buy into the hype.

In the long run, credit cards will get you no matter how responsible you are. One way or the other Credit cards companies win

Only Stupid people use credit cards


https://mitsloan.mit.edu/experts/how-cr ... e-spending

[Dohplaydat]

I think Zoom hit it when them he said they feel they being responsible by paying the credit card bill off every month. That doesn't make somebody responsible. What makes you responsible is living meagrely and avoiding lifestyle creep in the first place. Like them old indian people zoom always talking about.

Paying your bills on time and the balance on your credit card in full each month is the very definition of financial responsibility.

The mere fact of owning a credit card shows a person is gaslighted and is not financially responsible.

Paying off a credit card is not being financially responsible and shows people buy into the hype.

In the long run, credit cards will get you no matter how responsible you are. One way or the other Credit cards companies win

Only Stupid people use credit cards


https://mitsloan.mit.edu/experts/how-cr ... e-spending

ZR I agree with you on many things but this is absurd, the only argument you can make here is that credit cards reduce the barrier to being financially irresponsible.

[shake d livin wake d dead]

For some strange reason people see plenty logic in taking a 7 year loan to buy a car
Carnival loan
Wedding loan
All this while renting and no future plans of owning a home etc.

Zr I does milk my credit (make sure no interest is incurred) because my miles add up.

[MaxPower]

Z,

You ever hear about Triple C?

Credit Card and Car Parts


Tuners can i get a Amen?

[hover11]

For some strange reason people see plenty logic in taking a 7 year loan to buy a car
Carnival loan
Wedding loan
All this while renting and no future plans of owning a home etc.

Zr I does milk my credit (make sure no interest is incurred) because my miles add up.

This is the definition of living above one's means, the logic is we accustom to never have so is small thing. Paying 7 years for a depreciating asset is crazy

Sent from my SM-N986U1 using TriniTuner mobile app

[zoom rader]

I think Zoom hit it when them he said they feel they being responsible by paying the credit card bill off every month. That doesn't make somebody responsible. What makes you responsible is living meagrely and avoiding lifestyle creep in the first place. Like them old indian people zoom always talking about.

Paying your bills on time and the balance on your credit card in full each month is the very definition of financial responsibility.

The mere fact of owning a credit card shows a person is gaslighted and is not financially responsible.

Paying off a credit card is not being financially responsible and shows people buy into the hype.

In the long run, credit cards will get you no matter how responsible you are. One way or the other Credit cards companies win

Only Stupid people use credit cards


https://mitsloan.mit.edu/experts/how-cr ... e-spending

ZR I agree with you on many things but this is absurd, the only argument you can make here is that credit cards reduce the barrier to being financially irresponsible.

The credit card companies WILL get you in the end.

The world is gaslighted in accepting & spending money that they don't have.

The term financially responsible is a method use by the card companies in making you believe that u are in control.

[zoom rader]

Z,

You ever hear about Triple C?

Credit Card and Car Parts


Tuners can i get a Amen?

.All I hear about is debt

Trinis live in a fallacy.

You think rubber slippers injuns use credit cards?

[paid_influencer]

For some strange reason people see plenty logic in taking a 7 year loan to buy a car
Carnival loan
Wedding loan
All this while renting and no future plans of owning a home etc.

Zr I does milk my credit (make sure no interest is incurred) because my miles add up.

short answer:
people want to escape the shiethole, not build house in the shiethole.

long answer:
the structure of the economy concentrates wealth in the hands of a few while removing it from the masses. First-time home owners are competing against very rich people who keep the price of house/land out of reach of the poor. I know one rich family where all the children migrated but still keeping entire houses empty waiting for them here in case they decide to return (they not returning). I know a next person that buy three single-family houses and break them down to build a single large house for himself. I know a next lady that migrate more than 20 years now and the house sitting empty because she asking tens of millions of dollars for it. The point is the value of land on the island is no longer based on the working-class salary and wages available on the island - it has instead turned into a game of monopoly for a few very wealthy people.

The other point is that people entering the job market these days are getting short-term contracts instead of permanent employment. The standard now is a 1 year contract with no guarantee it will be renewed. Infact employers purposefully won't renew for the explicit reason of breaking any continuous employment. Who would take a 30 year loan under those conditions? Short-term consumer loans are easy to get, practically no conditions, but longer-term loans are a different game.

And lastly people these days have no motivation to actually live on the island. It depressing between crime and the state of the economy. You talk to youth and they all want to leave the island. That is the dream - to leave. Why buy a house if your best hope to leave? Taking Carnival loan to make life less miserable makes sense. Taking house loan to entrench yourself in misery some more is less attractive.

[hover11]

For some strange reason people see plenty logic in taking a 7 year loan to buy a car
Carnival loan
Wedding loan
All this while renting and no future plans of owning a home etc.

Zr I does milk my credit (make sure no interest is incurred) because my miles add up.

short answer:
people want to escape the shiethole, not build house in the shiethole.

long answer:
the structure of the economy concentrates wealth in the hands of a few while removing it from the masses. First-time home owners are competing against very rich people who keep the price of house/land out of reach of the poor. I know one rich family where all the children migrated but still keeping entire houses empty waiting for them here in case they decide to return (they not returning). I know a next person that buy three single-family houses and break them down to build a single large house for himself. I know a next lady that migrate more than 20 years now and the house sitting empty because she asking tens of millions of dollars for it. The point is the value of land on the island is no longer based on the working-class salary and wages available on the island - it has instead turned into a game of monopoly for a few very wealthy people.

The other point is that people entering the job market these days are getting short-term contracts instead of permanent employment. The standard now is a 1 year contract with no guarantee it will be renewed. Infact employers purposefully won't renew for the explicit reason of breaking any continuous employment. Who would take a 30 year loan under those conditions? Short-term consumer loans are easy to get, practically no conditions, but longer-term loans are a different game.

And lastly people these days have no motivation to actually live on the island. It depressing between crime and the state of the economy. You talk to youth and they all want to leave the island. That is the dream - to leave. Why buy a house if your best hope to leave? Taking Carnival loan to make life less miserable makes sense. Taking house loan to entrench yourself in misery some more is less attractive.

The rich must get richer-Keith Christopher Rowley. What new labour laws has this government implemented to the benefit of employees for their tenure in governance? Those short term contracts are nothing short of modern say slavery

Sent from my SM-N986U1 using TriniTuner mobile app

[wing]

For some strange reason people see plenty logic in taking a 7 year loan to buy a car
Carnival loan
Wedding loan
All this while renting and no future plans of owning a home etc.

Zr I does milk my credit (make sure no interest is incurred) because my miles add up.

short answer:
people want to escape the shiethole, not build house in the shiethole.

long answer:
the structure of the economy concentrates wealth in the hands of a few while removing it from the masses. First-time home owners are competing against very rich people who keep the price of house/land out of reach of the poor. I know one rich family where all the children migrated but still keeping entire houses empty waiting for them here in case they decide to return (they not returning). I know a next person that buy three single-family houses and break them down to build a single large house for himself. I know a next lady that migrate more than 20 years now and the house sitting empty because she asking tens of millions of dollars for it. The point is the value of land on the island is no longer based on the working-class salary and wages available on the island - it has instead turned into a game of monopoly for a few very wealthy people.

The other point is that people entering the job market these days are getting short-term contracts instead of permanent employment. The standard now is a 1 year contract with no guarantee it will be renewed. Infact employers purposefully won't renew for the explicit reason of breaking any continuous employment. Who would take a 30 year loan under those conditions? Short-term consumer loans are easy to get, practically no conditions, but longer-term loans are a different game.

And lastly people these days have no motivation to actually live on the island. It depressing between crime and the state of the economy. You talk to youth and they all want to leave the island. That is the dream - to leave. Why buy a house if your best hope to leave? Taking Carnival loan to make life less miserable makes sense. Taking house loan to entrench yourself in misery some more is less attractive.

The rich must get richer-Keith Christopher Rowley

Sent from my SM-N986U1 using TriniTuner mobile app

I save my blogger salary in US dollars.

[triniterribletim]

Any idea what's the national average cost of renting? Just asking.

It's buried on the same site - here is the link.

https://www.numbeo.com/property-investm ... And+Tobago

Numbeo's data is highly skewed towards metro areas, where the rent is much more expensive than smaller cities and towns or rural areas. Numbeo said I would need 2000 USD a month to live in Brazil, but they used São Paulo data to get that figure. I spend less than 1000 USD a month.

[triniterribletim]

Save your money, invest wisely and always have a plan and a backup plan. Sometimes you have to get lucky to get in on the ground floor with Bitcoin or a good stock. When I lived in Trinidad, I didn't spend on Carnival, more clothes and shoes than were necessary, liming a lot, cigarettes and running down woman. All those things would impede your financial independence. Now that I have money and time, I can enjoy all those things, but most people don't understand delayed gratification.

[VexXx Dogg]

For some strange reason people see plenty logic in taking a 7 year loan to buy a car
Carnival loan
Wedding loan
All this while renting and no future plans of owning a home etc.

Zr I does milk my credit (make sure no interest is incurred) because my miles add up.

short answer:
people want to escape the shiethole, not build house in the shiethole.

long answer:
the structure of the economy concentrates wealth in the hands of a few while removing it from the masses. First-time home owners are competing against very rich people who keep the price of house/land out of reach of the poor. I know one rich family where all the children migrated but still keeping entire houses empty waiting for them here in case they decide to return (they not returning). I know a next person that buy three single-family houses and break them down to build a single large house for himself. I know a next lady that migrate more than 20 years now and the house sitting empty because she asking tens of millions of dollars for it. The point is the value of land on the island is no longer based on the working-class salary and wages available on the island - it has instead turned into a game of monopoly for a few very wealthy people.

The other point is that people entering the job market these days are getting short-term contracts instead of permanent employment. The standard now is a 1 year contract with no guarantee it will be renewed. Infact employers purposefully won't renew for the explicit reason of breaking any continuous employment. Who would take a 30 year loan under those conditions? Short-term consumer loans are easy to get, practically no conditions, but longer-term loans are a different game.

And lastly people these days have no motivation to actually live on the island. It depressing between crime and the state of the economy. You talk to youth and they all want to leave the island. That is the dream - to leave. Why buy a house if your best hope to leave? Taking Carnival loan to make life less miserable makes sense. Taking house loan to entrench yourself in misery some more is less attractive.

Aite soldier, I owe you a beer for this post. Solid response

[alfa]

Good one there Paid

[zoom rader]

For some strange reason people see plenty logic in taking a 7 year loan to buy a car
Carnival loan
Wedding loan
All this while renting and no future plans of owning a home etc.

Zr I does milk my credit (make sure no interest is incurred) because my miles add up.

short answer:
people want to escape the shiethole, not build house in the shiethole.

long answer:
the structure of the economy concentrates wealth in the hands of a few while removing it from the masses. First-time home owners are competing against very rich people who keep the price of house/land out of reach of the poor. I know one rich family where all the children migrated but still keeping entire houses empty waiting for them here in case they decide to return (they not returning). I know a next person that buy three single-family houses and break them down to build a single large house for himself. I know a next lady that migrate more than 20 years now and the house sitting empty because she asking tens of millions of dollars for it. The point is the value of land on the island is no longer based on the working-class salary and wages available on the island - it has instead turned into a game of monopoly for a few very wealthy people.

The other point is that people entering the job market these days are getting short-term contracts instead of permanent employment. The standard now is a 1 year contract with no guarantee it will be renewed. Infact employers purposefully won't renew for the explicit reason of breaking any continuous employment. Who would take a 30 year loan under those conditions? Short-term consumer loans are easy to get, practically no conditions, but longer-term loans are a different game.

And lastly people these days have no motivation to actually live on the island. It depressing between crime and the state of the economy. You talk to youth and they all want to leave the island. That is the dream - to leave. Why buy a house if your best hope to leave? Taking Carnival loan to make life less miserable makes sense. Taking house loan to entrench yourself in misery some more is less attractive.

Very good article, and it shows how weak the government is when it comes to protecting workers' rights.

The government itself is responsible for these short term contracts scams via contract labour .

Also shows how labour unions are corrupted via PNM involvement with them.

[goalpost]

Take for example my coworker. He makes less than me, but he does make good OT. Yet he just had a massive anniversary bash, with caterers, a lot (a lot) of food, entertainment, not to mention the money spent to fix up the house. Then next week he's off to Florida and then Tennessee to spend the Winter. Yet he's normal, no worries. And when he's flying it's business class.

In my head, I does fraid to spend too much money although I have it; I just keep it for emergency purposes, and when I do have an emergency I still vex to spend it. Is it a mindset? idk.

[A172]

Tuner losers still counting ppl pocket & dey biz going into 2025

[zoom rader]

Take for example my coworker. He makes less than me, but he does make good OT. Yet he just had a massive anniversary bash, with caterers, a lot (a lot) of food, entertainment, not to mention the money spent to fix up the house. Then next week he's off to Florida and then Tennessee to spend the Winter. Yet he's normal, no worries. And when he's flying it's business class.

In my head, I does fraid to spend too much money although I have it; I just keep it for emergency purposes, and when I do have an emergency I still vex to spend it. Is it a mindset? idk.

You are on the right track.

Keep saving and investing, but don't leave ur money in the bank for inflation . Keep enough cash for emergency and expenses.

But do enjoy urself within limits. Trust me as you get older you will appreciate your savings & investments