Unless Barbadians invest more, they may always be one pay cheque from poverty says Minister of State in the Ministry of Foreign Trade and Business Development Sandra Husbands.
She is, therefore, urging people to consume less, but save and invest more.
“Our families tend to be families that consume. If you have $50 and you consume whatever it is that you bought with that $50 then that money is now dead, but had you taken that $50 and put aside some money and put it in some small business enterprise, and turned that $50 into $200, you would now be producing, so the life of that $50 becomes more.
“So until we are able to make that concept basic and natural in the heart of every Barbadian, then families will always find themselves one pay cheque from poverty. It doesn’t matter how big the pay cheque is, if it is being consumed and not being used to produce more, you will always be one pay cheque from poverty,” Husbands said.
She made those comments yesterday during the launch of St Mary’s Anglican Church’s inaugural Business Festival at St Mary’s Row in the City. (TG)
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