Saving Money

I was reading an article about saving money during financial crisis and one of the advice is to move your money to a bank that offers a higher interest rate.

If you have a washing machine at home or in your apartment here is a simple tip that will save you money...

I know many Haitian-Americans who will not agree with this statement but... No matter your net worth, you should never put college savings ahead of retirement... Why? Keep reading...

Did you now this... CREDIT is the most important part of the economy... Guess what? Credit is non-existent in the Haitian economy... I mean, really... If there is a way to build good credit in Haiti and use it to buy a car, a house or start a business, I do not know anything about it.

This morning, overheard a man complaining in the radio that the price everything except rice and chicken in Haiti is set in US Dollars... If you want to buy a nice perfume, decent clothing, a night in a hotel room, you have to pay in US dollars. "Why is that," the man asks, "when the currency if Haiti is the Gourde?"

Yes, I agree, putting money away in a savings account is a good way to prevent you from spending it impulsively but if you want to put money away hoping to get some good interest on it, to make your money grow, is a savings account the way to go?

A group of Haitian professors and businessmen sat on a round table recently discussing the most immediate way to positively impact the Haitian economy today. One of them said: "If the value of the Haitian currency (gourde) were to increase slightly compared to the US dollar, this would be an immediate relief to parents across the country."

I was watching a video called "Circular Flow of Income - How the different components of an economy interact" and it made me realize why Haiti is so POOR as a country... Plain and simple, The Haitian flow of income is FLAT, it is NOT Circular... Our economy does NOT grow, it flows out to other countries..

Haiti Money Update -- If the Haitian Gourde has lost so much value to the U.S. Dollar, it is because of past mistakes of former Haitian Leaders, President Michel Martelly said on the election trail...

Have you heard? The US Dollar rises above 50 gourdes in Haiti. The Haitian Gourde is loosing more and more value... Nowadays need 50.5 Haitian Gourdes to buy one US dollar in Haiti... It's 50.1 gourdes to sell 1 US dollar...