The way you think about your money could be changed by Hurricane Sandy




 

You may not have realize it as yet but the destructive force of Hurricane Sandy and its impact on communities could be the catalyst that causes you to have to change the way you think about your money.

Hurricane Sandy impacts Bahamas could it change the way you think about your money

Traditional way of thinking about money

Think about it for a moment. While traditionally, we have been community mined (remember when we lived in communities, especially on  the island where once person in the community had then everyone in the community had).

Over time we have moved out of those communities to the urban centers and begin to considered personal finance to be about focusing on you and your ability to have enough saved to handle emergencies and difficult times .

But what is becoming evident is that with the expected continuance of climate change and the “extreme weather” it produces, that you may have to to rethink the way you think about your money.

I am sure that you have seen the dramatic impact that Hurricane Sandy has had on the Bahamas and while Nassau was again spared the brunt of the hurricane, islands like Long Island, Cat Island & San Salvador, Abaco and Grand Bahamas were not as fortunate. 

Again they have lost a considerable amount of not only personal property but business investments as well.

The way you think about your money

So let us say you continue your current thinking about your personal finances where you have saved enough for an emergency and then for whatever reason your neighbour did not prepare and as a result need your help, what do you do?

Grand Bahamas after Hurricane Sandy could it change the way you think about your moneyYou can see that our parents may have had it right – that finance is really all about community and being able to not only help yourself but family and friends in your community when disaster strikes.

I am anxious to hear what you think so please join the conversation and let me know what you think about this new financial paradigm and whether you feel you need to change the way you think about your money?

So leave your comment below and let me know is you are considering changing the way you think about your money?

Community maybe more important than you think… its simply people working together.

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Glenn S. Ferguson