The cost of entertainment is skyrocketing in Jamaica. Prices at restaurants, clubs and concert
venues are staggering. But this hyperinflation seems to be scaring only the economists and the
authorities.
Young people in particular apparently don’t mind spending a larger portion of their disposable
income on entertainment. Though they admit they face an uncertain future, they are clearly
more interested in having fun experiences than anything else.
This mentality has given rise to a new term, "funflation". This economic buzzword describes the
tendency for people to spend more money on having fun than on acquiring life’s necessities.
Some even take out loans so they can afford the next hot experience no matter how much it
bruk dem.
Much of this new attitude is a leftover from our dreaded COVID lockdown. The isolation and
risks of illness and death changed many people's perspectives on life and how they choose to
spend theirs. Stuck at home and bored out of their wits, they put a new value on fun and living
life to its fullest.
When events returned, many vowed to have fun no matter what. They embrace funflation, and
base their spending on the immediate enjoyment it brings with little regard for its impact on their
financial situation. Notice the ludicrous amounts people spent for Chris Brown’s concert rather
than use that money to save or invest. Young people today easily justify $10,000 party tickets,
expensive movies at Palace Cineplex or huge restaurant bills.
Fortunately, not everyone is high on funflation. The more disciplined, budget conscious young
people find less expensive ways of enjoying their weekends. Excursions to rivers, waterfalls and
beaches are manageable expenses. And hiking (for free) is becoming very popular with those
who want to see more of Jamaica’s interior. Others use electronic entertainment at home to
pass the time.
As fun in Jamaica continues to exact a high price, we hope young people especially learn to
have a healthy balance between spending on fun experiences and their important financial
obligations. Maintaining priorities, especially for those in their early years of earnings, is key to
managing life and finance. Spending disposable income wisely is the best way to stay out of
financial hot water.