All posts by CHS

About CHS

I am a Jamaican entrepreneur, author, money coach, business mentor and inventor. My passion is to learn new things and to share my knowledge with others. I've discovered how the 3 M's of Money can help you to be financially smart. Now I'm learning what it really takes to be financially free. See more of what I'm up to at EntrepreneursInJamaica.com, WiseJamaican.com and JamaicaOnCanvas.com!

Planning for Your Passing

Retirement & Estate Planning, , , , , , ,

When planning for their goals, many persons will often make decisions in an overly optimistic way, believing that all things will move smoothly to take them towards their desired results. Most people prefer not to think about the negative occurrences that could derail their dreams.

It’s good to visualise a bright future for yourself, where your positive attitude and persevering actions will help you to accomplish all your goals. However, it’s financially smart to prepare for any unwanted situations that are different from what you envision for your life.

Life has no guarantees
One of the unpleasant eventualities for which you need to make financial preparations is the possibility that you might not live long enough to actualise your dreams or enjoy the fruits of your hard labour. Death is certain, but none of us knows the exact date that it will visit our doors. Continue reading Planning for Your Passing →

Home Buying Risks

Home Buying, Risk Protection, , , , , , , ,

There are few occasions that will bring such an overwhelming sense of satisfaction and fulfillment as purchasing your own home. For most persons, it is the realisation of a lifetime dream; and it often heralds their hope for a more prosperous financial future.

While the prospect of buying a home may trigger many emotional responses, it is important to remember that it is a major financial investment as well. If you’re pursuing home ownership, you must also incorporate some rational and prudent decision-making steps in the process.

When investing money, most people will focus on the plus side of the equation; they concentrate on what they have to gain from making the transaction. However, when you commit your funds to a venture, there is always the possibility that you could receive an undesired or adverse outcome. Continue reading Home Buying Risks →

Home Ownership Reality Check

Home Buying, , , , , ,

Many people will express that one of their major financial dreams is to purchase their own home. It seems that the desire for home ownership runs deep in their minds, hearts and souls, as owning an abode gives a sense of security that few other investments can provide.

However, despite the universal appeal of home ownership, a relatively small percentage of Jamaicans ever accomplish this worthwhile objective. Although the desire to buy a home remains firmly lodged on their wish list, too few are actually able to convert this dream into reality.

The elusive home dream

There are various reasons why home acquisition can be challenging for most Jamaicans. Firstly, the adverse economic situation precludes many consumers from being able to commit enough of their money to save for this goal. Every dollar that they earn is needed to meet basic expenses. Continue reading Home Ownership Reality Check →

Money Mission: Focus On Your Primary Goal

Goals, , , , , , , ,

If you had created a New Year’s Resolutions list for 2013, your agenda may have included several financial objectives which you had hoped to achieve for the year. It’s a smart idea to write down clear, specific goals if you really want to accomplish your personal and money targets.

However, if you include too many items on your to-do list, you can actually retard your ability to successfully carry out your objectives. When faced with too many options, sometimes your brain can get confused about what is required to be done, and it will short-circuit the action process.

Your brain is a sophisticated computer, which absorbs all the instructions it receives and decides the appropriate course to take. If you provide it with competing requests such as “get out of debt,” “save aggressively,” and “start a side business,” it may not be certain which route to take first. Continue reading Money Mission: Focus On Your Primary Goal →

How to Invest Without Fear

Investing, , , , , , , ,

The world of investing can be very intimidating for persons who know nothing about it. Investing may seem like a pursuit for the wealthy elite or financial power-brokers, and not a money-multiplication activity that can be practised by ordinary people with relatively limited means.

Unfortunately, too many persons allow a lack of knowledge and an abundance of fear to prevent them from generating income and building wealth from investing. If you avoid or disregard this important financial skill, you may actually miss out on achieving your long-term money goals.

Do your research

If you have never bothered to invest because of ignorance, you first need to learn more about the process. The Internet provides myriad outlets which you can use to research investments. Just put “investing guide for beginners” in your search engine and it will return thousands of websites. Continue reading How to Invest Without Fear →

How to lose your fear of selling

Income Creation, , , , , , , ,

As another ‘past-due’ bill arrives in the mail, you finally accept that you need to increase your income. Although you know that you should start selling something in your spare time to generate extra cash, you’re terrified at the thought of asking people to purchase something from you.

You overlook your forebodings and bake a batch of cupcakes that you hope to sell at your office. You timidly ask a co-worker to support your venture, but she declines because she is watching her weight. You decide to give away the rest of your inventory, resolving that selling is not your forte.

One of the complaints I get from people who wish to make more money is that they dislike the process of selling. They may say that they are not natural salespersons or that selling is too hard. If you feel apprehensive at the prospect of asking for money, you may think that you hate to sell. Continue reading How to lose your fear of selling →

Fear Is A Four-Letter Word

Money & Your Mind, , , , , ,

Many years ago, I was presented with an opportunity that left me filled with fear instead of anticipation. I was asked to teach a module of a Portfolio Management course, as the lecturer thought I had done well in the class the year before. My initial response was to decline the offer.

After reflection, I recognised that this development was perfectly lined up with the goals I had set; why would I fear taking it on? Examining my emotions, I realised that it bothered me that I did not know how to create a PowerPoint presentation, and that I was clueless about using a projector.

When I admitted my fears to the lecturer, she reassured me that those shortcomings were easily solved. After a quick introduction to the mechanics of setting up a projector, and a month’s worth of self-tutoring on PowerPoint, I designed my lesson plan and entered the exciting world of teaching. Continue reading Fear Is A Four-Letter Word →

Money Mission: Embrace the Opportunities in Change

Goals, , , , , , ,

As we continue to look at strategies that can help you to accomplish the financial goals that you set for 2013, it is important to consider some major obstacles that could be hindering your progress. Goal achievement requires you to be honest about the issues that may be holding you back.

If you are working towards your goals, you must be proceeding in a forward motion. No one has ever achieved anything by standing still or looking back on the past. So, in order to succeed in your objectives, you must be willing to move from where you are today onto new pathways.

Whether you want to budget effectively, save more, get out of debt, increase your income, buy a home, or start investing for your retirement, it is necessary for you to adopt improved money attitudes and actions. Change is integral to the process of accomplishing your financial goals. Continue reading Money Mission: Embrace the Opportunities in Change →

True Grit Brings Financial Success

Goals, , , , , ,

Recently, a reader shared that his secret for success was based on the four-letter word ‘grit’. His recipe to get ahead in life was to stay focused on his tasks, find ways to overcome any obstacles that might arise along the way, and work diligently and consistently until his goals were realised.

Speaking on a TED Talks Educational video, psychologist Angela Lee Duckworth explained that grit is “passion and perseverance for very long-term goals.” Grit is having the stamina to keep working at your important tasks every day, over many years, until you have accomplished your objectives.

Duckworth, an assistant professor at the University of Pennsylvania who researches educational achievement, posited that grit is a better indicator of a student’s success than factors such as IQ. This trait may be even more critical than natural abilities or other determinants of achievement. Continue reading True Grit Brings Financial Success →

OCPD Can Wreak Havoc in Business

Business Success, , , , , , ,

Jennifer walked over to her assistant’s desk with an obvious look of frustration on her face. “Kathy, there are too many grammatical errors in this report. The line spacing is not consistent and we should use bullet points to shorten some of the paragraphs. Please redo it immediately!”

“But Miss Thomas, remember that Mr. Rogers needs to get the document right now so that he can complete his submission to the new clients,” Kathy countered. “The deadline is a few hours away, and if I stop to make those small changes, we might miss getting this major contract.”

Sighing loudly, Jennifer responded firmly, “What you need to remember is that we don’t send out imperfect work from this department. Do it right the first time, or don’t do it at all.” “In fact,” she bristled, “I will do it myself. I should know better than to let you work on such an important project.” Continue reading OCPD Can Wreak Havoc in Business →