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!

What do the rich know about money?

Money & Your Mind, , , , , ,

“The main reason people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money… but never learn to have money work for them.”

This bold statement on the back cover of Rich Dad Poor Dad was very intriguing. I had heard a lot about Robert Kiyosaki’s bestselling book, which promised to reveal what rich people taught their children about money that poor and middle-class people did not.

I was eager to find out if the publicity hype surrounding it was warranted, so it was one of the first books that I read in my search for ways to become financially successful.

I have spoken to hundreds of persons who are, just like I was many years ago, financially distressed and desperate for solutions to their money problems. Unfortunately, too many of them are looking for quick fixes to their financial woes. The question often asked is, “How can I make some more money fast?” Continue reading What do the rich know about money? →

Earning Extra Money is Essential

Income Creation, , , , , , ,

Becoming financially successful involves more than just doing the right things with the money you currently earn. For many persons, the salary they receive from their regular jobs can just barely cover their basic necessities. The reality is that if you want to achieve a healthy financial status, you need to focus on earning extra income.

This realisation came home to me several years ago as I struggled to turn around my finances from a negative position to a positive one. After recognising the importance of budgeting, saving, managing debt and setting goals, it became quite obvious that I needed to make more money in order to accomplish these basic money management strategies.

It would be impossible for me to meet all my bills, save for an emergency fund, pay off my debts, and put aside money for future goals without another source of income.

However, figuring out how to create more money was a challenge. I had a full-time job and family responsibilities, so my free time was limited. I also had no idea of what else I could do to increase my income. Continue reading Earning Extra Money is Essential →

What’s stopping your financial success?

Goals, , , , , , , , ,

One observation that has both fascinated and frustrated me is that very few people actually attain the financial success that they dream about, while so many people seem to exist without a sense of direction towards achieving any goals.

I have had many opportunities to examine the attitudes and actions of persons who seek my advice about their money problems. Very often, I would give recommendations to two persons in similar situations, yet only one would follow my counsel and achieve success, while the other would continue along a financially destructive pathway.

Many years ago, as I searched for solutions to improve my own money situation, I realised that I had to understand the forces that could help one person to achieve, and the impediments that could hinder another from getting ahead in life.

I thought that if I could learn and follow the habits of success, and identify and avoid behaviours that led to failure, then I too could join the ranks of the financially successful. Continue reading What’s stopping your financial success? →

Breaking The Cycle of Debt

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One of the problems with money is that there never seems to be enough of it to buy all the things we want in life. However, the lack of funds doesn’t necessarily stop some of us from getting the things we desire. Thanks to our culture of credit, there are many sources from which we can borrow – bank loans, credit cards, payroll advances, and informal money lenders.

I can still recall my first loan transaction. After graduating from university, I wanted to buy my own television so that I could determine what I wanted to watch instead of depending on my parents’ viewing preferences. Even though I didn’t have any money to buy one, my mother had saved up enough money in my credit union account over the years to allow me access to a loan.

Thinking back on that experience in which I had to fill out forms, get proof of income and find a suitable guarantor, I remember that it made me feel important, as if I was doing a very grown-up transaction. It also felt great knowing that I could get what I wanted even though I didn’t have any money! Continue reading Breaking The Cycle of Debt →

Uncovering the Secrets of Money Success

Saving, , , , , , , , ,

Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.” – Matthew 7:7, NIV Bible

As a money coach, I interact with many people who are desperately seeking solutions to their financial problems. When you are constantly broke, heavily in debt and unable to find the way to achieve your dreams, it can feel as if you’re lost in a confusing maze without the vital directions to get you out.

I can easily relate to people’s feelings of distress, as I was also trapped in a financial quicksand for a long time. After years of spending more than I earned, depending on debt and naively ignoring any preparations for the future, I had the good fortune to get a job at a financial institution.

For the first time, I saw persons who were smart about money, who were achieving financial goals that I hadn’t even dreamed about. Continue reading Uncovering the Secrets of Money Success →

The Past and Present Tense of Money

Budgeting, , , , , , , , , , , ,

The start of a new year usually fills our hearts with optimism and hope for a better future. I’ve always been fascinated by this phenomenon – why should this period inspire us to create lofty resolutions and ambitious declarations? Why do we anticipate that the fading old year will usher in bright beginnings?

There is no magic elixir that gets released on New Year’s Day; the first of January is just another 24 hours that will come and go, just like they did on December 31.

Despite our fervent wishes to exercise regularly, save more, be kinder to other people or pursue our dreams, chances are that after a few days of inspired activity, we will continue along the same old pathway as we did before.

The reality is that you can choose to transform your life at any time of the year. The date doesn’t make a difference; whether it’s February 28, April 13, or September 4, any day can symbolise that moment when you finally commit to do whatever it takes to effect the changes that you desire. Continue reading The Past and Present Tense of Money →

Make Your Dreams Happen in 2011

Money & Your Mind, , , , , ,

As another year rapidly draws to a close, it’s a perfect time to consider all the triumphs and trials that faced us in 2010. In reviewing the past, let’s celebrate our successes and learn valuable lessons from our mistakes.

When we look back in time, sometimes we may find that certain challenging issues keep recurring without us really uncovering or understanding their underlying principles. One important life course that many people believe that they are doomed to fail is ‘Money Success 101’. The key attitudes and actions needed to excel in this class continually seem to elude them.

People often ask me for one piece of advice that can help them to accomplish their financial goals. As they search for solutions, many of them think that a job that pays a higher salary would deliver them from their money woes. Others believe that the answer lies in the perfect investment scheme or a profitable business opportunity.

The reality is that even if more income or the ideal financial vehicle appears on your doorstep, they may not help you to be more successful with money.

Continue reading Make Your Dreams Happen in 2011 →

All I Want For Christmas Is…

Money Reflections, , ,

Every year during the month of December, many people feel obliged to partake in frenzied preparations for the Christmas period, with party-hopping and present-buying being of utmost importance. It seems that having lots of money to spend is crucial to some for the enjoyment of the season.

In fact, many people become depressed at this time if they can’t find the funds to really splurge for the holidays. It’s common to hear frustrated shoppers comment that “No money not running this year, so I won’t be able to have a good Christmas.”

The commercialisation of Christmas by profit-seeking merchandisers has unfortunately turned many away from the true message of the season. The biblical account of three wise men bringing gifts for the blessed Child in a manger now merely forms an endearing backdrop to the biggest shopping period of the entire year.

As a money coach, I have seen ‘the good, the bad and the ugly’ when it comes to people’s money behaviours; and oftentimes the excesses of the holidays bring out their worst attitudes.

In direct contrast to the self-sacrificing message of Jesus’ birth, many people exhibit a self-centred, materialistic focus on acquiring more and more things at Christmas.

Continue reading All I Want For Christmas Is… →

More Money-Making Ideas for the Holidays

Income Creation, , , , , , , ,

For several months, we have been offering dozens of income-generating ideas that can help you to make extra money part-time, or create a satisfying full-time business. I believe that the only solution for our personal and national economic problems is for each one of us to become more enterprising about earning more.

Once you start focusing on increasing your personal productivity, you will eventually develop the ability to see earning opportunities in various situations. Remember, the key is to look out for people’s unfulfilled needs or painful problems, and get creative in finding solutions to address their concerns.

The festive season is a perfect occasion to improve your skills in identifying options to create additional income, as more people are in the frame of mind to spend. Instead of merely joining the shopping line with your cart full of holiday goods, start looking around for things that you can do to earn from others. Continue reading More Money-Making Ideas for the Holidays →

Money-Making Ideas for the Holidays

Income Creation, , , , ,

As the holiday season approaches, many persons will abandon the cautious spending habits they had diligently adhered to throughout the year. Engaging media advertisements, exciting party invitations and enticing Christmas fare are enough temptations to drive even the most frugal consumer into shopping overdrive.

Inevitably, after the spending sprees are over, post-season depression sets in. As January draws nearer, many people frantically wonder how they are going to pay for their holiday excesses and cover their upcoming bills. Year after year, they are filled with remorse about the one month of frenzied shopping which leaves behind eleven months of financial stress.

Is it possible to fully enjoy the holiday season without having any money regrets? Can we actually have our Christmas cake and eat it too? Continue reading Money-Making Ideas for the Holidays →