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!

Places to learn about money

Money & Your Mind, , , , , ,

“Your recent discussions on the three money principles have made me realise how much I need to learn about financial success. Where can I go to get simple information that can guide me in being better with my finances?”

The old adage, ‘every cloud has a silver lining’, has really been proven true in these challenging economic times. The global financial meltdown has put the spotlight on the ways we have been mismanaging money, and has reinforced the need for everyone to become financially literate.

Unfortunately, personal financial training is not available through the school system, so most people have to find ways to educate themselves. Here are a few ways that the average person can learn more about money: Continue reading Places to learn about money →

Investors: The Sceptical,The Gullible and the Greedy

Investing, , , , , , , , ,

Typically, when people think of investors they picture wealthy business moguls or savvy stock owners wheeling and dealing their way into large fortunes. The reality is that investors come in all financial shapes and bank account sizes. An investor is simply anyone who commits money to an endeavour with the expectation of making a profit.

I’ve often wondered about the personal traits that can help to create a successful investor. Some people seem to have the Midas touch – everything they invest in turns into gold. Many others, however, seem to fail at any investment they undertake.

What does it take to win at the investing game? Is it lady luck, dominant genes, or hard work? Continue reading Investors: The Sceptical,The Gullible and the Greedy →

How To Maintain Your Money

Retirement & Estate Planning, Risk Protection, , , , , , , ,

Why do some people achieve long-lasting financial success while others struggle with money for their entire lives? After years of seeking the answer to this mystery, I have discovered that the route to prosperity lies in the knowledge and application of some basic principles that govern money.

We have been examining the three tenets of money success – managing, multiplying and maintaining your money. After making smart use of the money you already have and making determined efforts to earn more, the final key is making plans to preserve your wealth for your lifetime and beyond.

Here are the four essential steps to maintaining your money: Continue reading How To Maintain Your Money →

How To Multiply Your Money

Wealth, , , , , ,

We have been discussing the three principles of financial achievement – managing, multiplying and maintaining your money. Last week, we outlined the four cornerstones of managing your money, explaining how to make smart decisions with the money you currently earn.

Many people hope that their working income will give them all they need to make ends meet and achieve their goals. The reality is that for most people, the regular job will never supply enough money to enable them to become financially successful. Today, we will look at the steps you can take to earn more money.

Create Extra Income

As we confirmed last week, proper budgeting is vital to all financial decisions. Once you fill out your budget accurately (you can download one at www.financiallysmartonline.com), it will show if you’re spending too much money or not making enough money.

If you’ve cut back on non-essentials and still can’t find enough to pay your basic expenses, then earning more is your only option. Continue reading How To Multiply Your Money →

How To Manage Your Money

Budgeting, , , , , ,

In a recent column entitled “The 3 Ms of Money,” we discussed the principles of financial achievement – managing, multiplying and maintaining your money. Over the coming weeks, we will examine these three pathways to money success in greater detail.

The key to managing your money is knowing what to do with the money that you are already earning, so that you can comfortably pay your bills and work towards attaining your goals. There are four components to successful money management, which, like the ingredients in a recipe, are all essential to producing the perfect end result.

Budget properly

The first step in your journey to financial independence is to learn how to budget properly. A budget is a document that allows you to capture all the things you spend money on, along with your sources of income. The budget must be used as the basis for making all financial decisions. Continue reading How To Manage Your Money →

Get A Bang For Your Buck With Bonds

Investing, , , , ,

“How can the average person invest today and make good returns? I’m not looking for a fly-by-night investment scheme; I want a legitimate opportunity that I can place my hard-earned money and receive a worthwhile profit.”

Over the three years of writing this column I have seen an increase in the numbers of people enquiring about investment options. They have a genuine desire to find out how their money can work for them. Gone are the days when the investment arena was occupied only by jargon-speaking financial traders and the super-rich!

While persons may have heard about the benefits of investing in the money market and the stock market, many people have never examined the possibility of earning big in the market for bond investments. Continue reading Get A Bang For Your Buck With Bonds →

The Secrets to Wealth

Wealth, , , , , , , ,

It has been said that only about one per cent of the world’s population ever achieves great wealth. No wonder the 99 per cent majority thinks that there are some hidden secrets to becoming wealthy that rich people won’t divulge!

Recently, First Global Financial Services (FGFS) revealed some of the mysteries to wealth at its Dollars and Sense Money Management seminar. Jason Dear, FGFS Equity Trading manager, explained that the act of wealth creation was not shrouded in secrecy.

Dear explained that making money came with understanding and following simple money principles.

“There are universal rules that govern wealth creation,” he clarified. “To get rich you need to learn and execute these principles.” Dear outlined his top 10 list of ‘secrets’ that could help ordinary people begin a successful journey to wealth: Continue reading The Secrets to Wealth →

The 3 M’s of Money

Goals, , , , , ,

“In a recent column you said that it was possible for persons to learn how to be financially literate. I am tired of always being low on funds and big in debt. What are some of the things that I should be doing in order to be successful with money?”

Being smart with money is not hard once you learn and start practising some basic financial principles. After many years of being financially clueless, I was able to completely turn around my money situation once I discovered the secrets of financially successful people.

These revelations came after years of reading books about money, searching the Internet, watching financial television shows and interviewing wealthy persons.

Based on my research and personal experience, there are three things you need to focus on: managing the money you already have, multiplying money for growth, and maintaining your money to last throughout your life and beyond. Continue reading The 3 M’s of Money →

Don’t forget your taxes!

Business Success, , , ,

Ahhh. tax time is back – that time when we all look forward to remitting our dues to the tax authorities to ensure that we are compliant. Well, maybe that’s how the Tax Administration would like us to feel as the March 15 annual income tax deadline draws near, but the reality is that nobody really likes paying taxes!

This year, the deadline will be extended to March 16, as the statutory date falls on a Sunday. If you haven’t given your taxes a thought yet, it’s still not too late to do something about it. Here are some tips to make the tax payment process a little easier: Continue reading Don’t forget your taxes! →

Needed: A National Financial Literacy Programme

Financial Literacy, , , , ,

“I’m 50 years old and I know I have not always made the best financial decisions. I have a lot of credit card debt and recently lost some money that wasn’t even mine in an alternative investment scheme.

“Now that I’m approaching retirement I realise that I’m in serious trouble, but I really don’t know how to do any better. Is it possible to learn how to manage my money properly?”

Congratulations on your honesty in admitting that you have not been the best steward of your money. However, you shouldn’t feel too discouraged, as most people make money mistakes throughout their lifetime.

Your story is quite familiar to me. For many years I, too, was guilty of making poor financial decisions. In fact, I was probably worse off than you, because I was clueless about the extent of my money problems.

I was fortunate to become employed to a leading financial institution, where for the first time I encountered persons who were money-savvy. I then began a journey to learn what other people knew about moneymaking that I was definitely unaware of. Continue reading Needed: A National Financial Literacy Programme →