Barbadians urged to pay themselves

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Barbadians urged to make sacrifices to get out of debt, since such obligations can cripple their nest eggs.

The advice from Cheryl Hanson Simpson, Managing Director of Financially Smart Services, whilst delivering the annual National Insurance lecture at the Tom Adams Financial Centre. She is strongly advising against taking on huge debts.

 Ms Hanson Simpson also urged Barbadians to try and pay themselves first from their salaries by putting aside ten percent of their earnings for a rainy day.

She says adopting this kind of discipline is the key to having a secure nest egg.