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!

Can You Invest By Shopping?

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We have recently been discussing the concept of investing, which involves putting money into a venture with the expectation of making a profit. Whether you invest in financial securities, property or a business, the general idea is that you decide to forgo spending money in the present, in order to secure some benefit in the future.

Many people will admit that they find it difficult to invest, as they would prefer to get the instant gratification of spending money than waiting to reap a potential reward in the long term. Why invest and risk your money, they think, when you can buy something right away and enjoy the fruits of your labour immediately?

Some time ago, a reader e-mailed me about the concept of investing versus spending. He introduced a simple but thought-provoking idea — What if more people were to say, “I invested my money on an item instead of I spent my money on it”, would that encourage them to make wiser spending choices? Continue reading Can You Invest By Shopping? →

Is it worth the risk to invest?

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Many people dream of enjoying a carefree lifestyle without the stresses of a regular job, and wish that they could find the perfect investment that would allow them to become wealthy. Their desire to be free from the routine of working for a living is often a compelling reason that motivates them to invest their money.

While most persons invest with an expectation of getting a positive result from their efforts, the reality is that investments don’t come with iron-clad guarantees of success. Last week we introduced the concept that investing activities carry some amount of risk, which is the possibility of getting a negative outcome or a different result than what was anticipated.

The risks that may accompany your investments have a lot to do with the reasons you may have invested in the first place. What are some of your basic expectations when you invest your money? Continue reading Is it worth the risk to invest? →

The Hidden Costs of Investing

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When many people think about investing, they have one major question in mind, “How much money am I going to make?”, and they usually don’t consider what they may have to give up in order to get their desired profit. However, natural law dictates that in order to receive, you must be willing to sacrifice something in return.

If you want to create wealth from investing, you will have to make some compromises in order to achieve your objectives. You’re not going to be blessed with wealth from this source without paying a price for it.

While it may be relatively simple to determine the direct expenses that can accompany an investment transaction, there are some hidden costs which may not be that obvious. Let’s look at some of the areas in which you must be willing to give and take in order to get the best from investing. Continue reading The Hidden Costs of Investing →

This Little Investor Went to the Market

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There are several things to consider if you are thinking about investing. Where do you go to purchase an investment? What are all the available options? How do you know which is the right one? When is the best time to buy or sell an investment? Whom should you trust to give you advice? Why should you even invest your money at all?

It can be initially difficult to find answers to these questions. After all, you can’t just walk into an investment superstore, browse through the aisles, read the labels on the different products, ask the store attendant some questions, select the right option and pay for it at the checkout counter.

If investing was as easy as shopping, we would probably all be very wealthy!

Continue reading This Little Investor Went to the Market →

Investing Is Not Rocket Science

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Many persons think that investments are mega money-making deals that can only be carried out by wealthy individuals such as financier Michael Lee Chin or hotelier Gordon ‘Butch’ Stewart. It’s also commonly believed that investing involves very technical and complex financial transactions that are outside of the understanding of the average person.

These mistaken notions often lead persons to become intimidated by the thought of investing, and this unfounded fear often prevents them from creating wealth with the use of solid investments. The reality is that once you have a desire to learn about investing, it is possible to find out all you need to know to become a competent and successful investor.

My personal experience offers living proof that anyone, regardless of background, education, age, or sophistication, can figure out the intricacies of investing. Just over 10 years ago I had no idea that there was even as concept called investing; in fact, I didn’t even practise the simple habit of saving my money. Continue reading Investing Is Not Rocket Science →

Is Money Holding You Captive?

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Money is an essential part of our existence, as we need it to acquire the basic necessities and comforts of life. I always encourage persons to be more purposeful in their financial dealings and to constantly look out for opportunities to earn more income. Becoming more focused and productive is a key ingredient to attaining our goals.

While money is very critical for our well-being, it seems that in today’s society many of us place too much importance on money itself. Our thoughts, beliefs and fears about money can lead us to make unwise financial decisions, and very often our money attitudes can bring out the worst in us.

It seems that many of us have become enslaved by our desire for and dependence on money.

Continue reading Is Money Holding You Captive? →

Getting Started with Investing

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Whenever I examine the topic of investing, I often receive responses from readers who want to learn more about how they can make their money work for them in some type of investment. It seems that while they have a desire to invest, many persons are unable to proceed because they just don’t know where to start.

When I first learnt about the concept of investing many years ago, I was initially hesitant about putting money into anything that couldn’t guarantee a positive return. While I understood about saving and receiving interest on my money, it seemed like a risky idea to commit my hard-earned funds into an endeavour, hoping that it would generate a profit.

I remember doing a training course that required the students to create a portfolio which included stock investments. At the time, I didn’t know anything about the stock market, and I was annoyed that I was being forced to invest in something that could lose money.

Very reluctantly, I placed 20 per cent of my ‘pretend’ funds on a few stock picks, and prepared for a disastrous result. Continue reading Getting Started with Investing →

How to become a successful investor

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Last week we looked at several investor personalities which Robert Kiyosaki describes in his best-selling investing book, CASHFLOW Quadrant. While examining the attitudes and actions of different types of investors, he explains that most of them will only achieve minimal success because they lack the financial intelligence required to become wealthy.

Kiyosaki outlines three investor types that will become successful with money. The first is the long-term investor that is actively involved in making investment decisions. He explains that these persons invest in their own financial education before they buy an investment, so that they can fully understand how to make appropriate choices with their money.

These investors are financially disciplined; they live within their means and minimise their liabilities. Once they have identified their goals, they find out how much they need to invest to attain their objectives and create realistic action plans. They seek advice from competent financial advisors, are usually conservative, and avoid complex investing options. Continue reading How to become a successful investor →

What type of investor are you?

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Too many people live out their lives without setting financial goals or thinking of ways to get ahead in life. Like the ancient Arabic saying, “He who knows not, and knows not he knows not, is a fool,” they are dangerously unconscious about the importance of creating and carrying out a plan of action to become financially secure and successful.

One of the strategies that can help you to finance your dreams and achieve your objectives is investing. Investing is simply the act of putting your money to work in some type of endeavour with the expectation of making profit. The idea is that you are actively trying to increase the value of your initial investment and/or earn an income from your efforts.

While investing can be a key component in creating wealth, persons who decide to invest may receive vastly different results than they had expected. Although it may be relatively easy to put your money into some type of investment, it is not a given that you will make a profit.

The level of success you obtain will be largely dependent on your investing expertise.

Continue reading What type of investor are you? →

Investment tips from an ancient time

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In today’s technologically driven society, persons looking for advice can readily turn to the Internet to find solutions to almost any problem that they might encounter. When it comes to financial issues, it’s not difficult to search online and quickly find answers to a variety of questions about money.

One of the financial questions foremost on many people’s minds is how to become wealthy by investing. Many readers express that they would like to find the secret to making money work for them, so that they can work less.

However, while it’s important to learn about the operations of different investment options, it is even more essential to discover the principles of investing.

One resource that contains many of the basic laws of investing and creating wealth is The Richest Man in Babylon, by George S Clason. Although this book was written in the 1920s, it still provides relevant and practical nuggets of wisdom that can help you to understand what it takes to build sustainable wealth.

Continue reading Investment tips from an ancient time →