Local financial experts on the island of Grand Bahama are predicting a tough financial year for Bahamians.
Financial Educator, Caline Newton says, “whether you’re low income, medium income, whatever income level you have these are some tough times. Newton went on saying, “the major thing that really causes our budget to be out of control is spending on grocery and food. And so if we could be very intentional, before you go to the food store audit your pantry, check out what you have in your fridge, in your freezer, make your meals around that.”
ZNS News also spoke to Roger Rolle of Rags To Riches Financial Consultancy. Rolle said, “the more fixed your income the more you need to plan because its really the out go side of things is what you need to focus on.”
Newton’s advise to Bahamians is to utilize sinking funds and to track expenses.