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Finding Balance with Marlon Campbell

Written by Shekinah Ade-Gold for Budget Leaf

Marlon Campbell is a Financial Advisor with Sagicor Life and the curator of several popular entertainment events. His sojourn in life has taken him from entertainment to broadcasting to finance, excelling in each sphere. He lists politics and history as two of his main interests with Manchester United being the third. A product of Manchester High and The University Of The West Indies, Mona campus, he holds Malcolm X and Marcus Garvey in the highest esteem with their philosophies guiding many of his life decisions.



Is it possible to balance your finances for everything you want and need?


“It is very possible to cover at least the needs, but depending on where you are and what you are earning, it might not be an immediate thing. The first thing one has to do is get a lay of the land. Take an in-depth and honest look at income and expenditure; not just do a budget, but look at what you are spending at present and match that up against your needs first, and then your wants. First stop is to get to where the needs are covered. This honest financial look should tell you clearly how much you are earning and how much (and where) you are spending. It should also give you a clear idea of any wastage in spending that can be cut. In many cases, cutting alone won’t be enough so one has to find ways in which to earn more.” 



Which solution is better - earning more money to pay for things, or reducing the things we pay for? 


“Ha! Trick question. The real answer is gaining real financial literacy and understanding one’s financial behavior. These are two of the most important pillars in achieving financial wellness. If one cannot properly manage a $50,000 a month salary, then best believe, one will not properly handle a $500K a month salary. More money can definitely mean more problems if one does not learn budgeting and money management, so both options work in tandem and would be applied by anyone with financial management skills.” 



How soon should someone start looking to make investments, and how much would

they need?


“As soon as one starts to earn. We often tell ourselves we can’t afford to, but the real question is, can we afford NOT to? Many experts recommend using the 50/30/20 rule when it comes to allocating our earning. 50% is fixed costs (rent, utilities, etc.), 30% is flexible spending (groceries, entertainment, etc.) and 20% is for financial goals (investment, retirement, etc.). Get on the habit of paying yourself FIRST. A 25-year-old who starts with a 1K a month investment will at 45 years old be well ahead of someone who starts with 10K a month at 35 years old. That’s the power of compound interest. I say this to say - start where you are, with what you have.” 



If one of our readers wanted to start a new business in Jamaica, which industries would you recommend?


“My friend Krystal Tomlinson would tell you, “There are riches in the niches”. I’m not going to tell you XYZ industry; what I’m going to say is, think to yourself: “which service or product, no matter the state of the economy or my pocket, will I ALWAYS find money for?” When you have identified them, go look for a problem in those industries that needs solving. Make solving the problem your business.” 



As a curator of social events, how have you been able to pivot since the pandemic?


“I am lucky, in that I have other streams of income that were minimally affected by the pandemic, and thus I didn’t pivot so much as accept that some other streams were on an indefinite hiatus.” 



How can our readers contact you for more information?


“My social handles are:

@marlonmusique (Twitter / IG)

Marlon Musique Campbell on Facebook. 

I can be emailed at:  marlon_campbell@sagicor.com

Phone: 876-330-3181 (Call / text / WhatsApp / iMessage)”

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