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! View all posts by CHS →

Financial Fun and Games for Kids

July 10, 2015Kids & MoneyJamaica, Money Coach, money games, money lessons for kids, Monopoly game, personal finance, Rich Dad, summer activitiesCHS

Now that school is out, most children will be looking forward to participating in enjoyable activities throughout the summer. If you’re a parent of kids with an overabundance of energy, you know how difficult it can be to keep them engaged in useful endeavours during the holidays.

If your vacation budget is tight and you don’t want your children to spend countless hours glued to the TV screen, tablet or telephone, you will have to get creative in serving up summer fun. Here are a few ideas that will keep your kids entertained, while learning about money and finance.

Explore our money history

Our coins and banknotes can provide a wealth of information about our history and national facts for younger children. By creating entertaining activities around the units of currency, you will help them to recognise them and appreciate interesting tidbits about our country. Continue reading Financial Fun and Games for Kids →

Budgeting for Family Vacation

July 3, 2015Spendingairlines, credit card, earn more, family budget, Jamaica, Money Coach, personal finance, summer holidays, travel, vacationCHS

For most children, summer time heralds the beginning of two months of freedom, but for parents it can start a period of overspending and loss of budgetary control. If you’re a parent, you may want to ensure that your children enjoy their vacation, but it’s important not to spend more than you can afford on summer fun.

Ideally, you should have started planning for your vacation many months in advance. Just like any other expense in your budget, you would estimate the total cost of your holiday plans, divide this total by 12 (or by the number of months left for your planned vacation to start), and then save this figure each month to arrive at the amount you need to spend.

Finding the funds for fun

If vacation time is already here and you haven’t started saving for it yet, be very careful about taking on debt in order to finance your summer fun. Remember that September and back-to-school time is just around the corner, so you can’t afford to spend unwisely with these impending school expenses on the horizon. Continue reading Budgeting for Family Vacation →

Money & Relationships: Then Comes Baby in a Carriage

June 26, 2015Budgeting, Goalsbaby registry, budget, education plan, Jamaica, maternity expenses, Money Coach, personal finance, planning to have a baby, save for collegeCHS

We have been looking at strategies which couples can use to manage their money as their relationships develop through courtship, engagement and marriage. Let’s look at some of the financial considerations that couples may face when a new baby comes into the picture.

Save for medical expenses

An increase in medical expenses is an unavoidable reality when planning for children. From the pregnancy test that confirms that the little one is being formed, to the hospital bill after the bundle of joy enters the world, couples should expect to spend a lot of extra money on health costs.

Even if couples are not ready to start adding to their family, it would be wise to create a ‘baby account’ in which they put aside some funds every month. This nest egg would be a significant help in dealing with prenatal expenses when they finally make the decision to have children. Continue reading Money & Relationships: Then Comes Baby in a Carriage →

Money & Relationships: Then Comes Marriage Pt 2

June 19, 2015Budgeting, Goalsbudget, Jamaica, marriage and money, merge money, Money Coach, money style, personal finance, split household billsCHS

After the thrill of the wedding ceremony has faded and the fantasy of the honeymoon is over, newlyweds must adjust themselves to the routine of marriage. Unlike storybook romances in which the couples live ‘happily ever after’, newlyweds often find that this period brings many challenges.

In Genesis 2:24, it declares that “A man shall leave his father and mother and be joined to his wife, and they shall become one flesh.” This speaks to a concept of togetherness in which both parties in the marriage are thinking, planning and acting in one accord for the good of the family.

In an ideal marriage, couples would genuinely leave their self-interest outside the door, and work selflessly for each other once they cross over the threshold. Individuals would look out for their spouses when making plans for the future, and any decisions made would benefit them both. Continue reading Money & Relationships: Then Comes Marriage Pt 2 →

Money & Relationships: Then Comes Marriage Pt 1

June 12, 2015Budgeting, Goalsbudget, fight about money, Jamaica, Money Coach, personal finance, pre nuptial agreement, spouses money style, wedding plansCHS

When the blossom of new love begins to bear the fruits of a long-term bond, couples may decide that they want to cement their relationship by getting married. During the month of June, it is customary to see many couples joining their lives together as they celebrate their nuptials.

Like any other major life development, the decision to get married comes with certain financial implications that should be carefully considered before taking the plunge. Let’s look at some vital information that can help people make the right choices when planning for their weddings.

Get financial counselling

Couples often view their relationships through rose-tinted glasses before they get married, and they may overlook some worrying signs that could impact their future together. This is especially true when it comes to their finances, as this topic is often a taboo subject for many people. Continue reading Money & Relationships: Then Comes Marriage Pt 1 →

Money & Relationships: First Comes Love

June 5, 2015Budgeting, Spendingbudget, compatible with money, dating, Jamaica, love and money, Money Coach, personal finance, split costs on a dateCHS

Traditionally, many couples select the month of June to celebrate their weddings. This custom stems from the era when ancient Romans observed a festival honouring Juno, the goddess of marriage and childbirth. Now, June is still considered the time to cherish love, matrimony and family.

When you put romantic notions aside, the reality is that celebrating love, marriage and the family can be quite costly. Whether you’re dating, preparing for your wedding, managing the bills with your spouse, or planning for your children, you need to be on top of your finances to survive.

Over the next few weeks, we will look at the topic of money and relationships by examining some issues which can affect your finances when other people are involved in your life. This week, let’s find out how to successfully manoeuvre the tempestuous financial waters when you’re in love. Continue reading Money & Relationships: First Comes Love →

Making a Fortune With Food

May 29, 2015Business Successbusiness system, catering, chef, food industry, Jamaica, make money, Money Coach, personal finance, restaurant business, target marketCHS

When I was in high school in the 1980’s, a career in the food industry was not considered to be a practical choice for ambitious students. Back then, you only took Home Economics if you were struggling with those ‘prestigious’ subjects that would lead you to more profitable professions.

Today, it’s almost fashionable to declare that you want to make money with food. Thanks to cable TV food shows, the resurgence of fine dining, as well as notable recognition programmes such as the annual Jamaica Observer Food Awards, many persons are now proud to be earning with food.

However, while your co-workers may rave about the bread pudding that you sell on Fridays, it may not necessarily mean that you should venture into opening a dessert business. Earning part-time income from your hobby is one thing, but starting an enterprise requires careful deliberation. Continue reading Making a Fortune With Food →

Defending Your Savings

May 22, 2015Risk Protection, SavingATM, high bank fees, income replacement policy, interest rate, Jamaica, Money Coach, nest egg, personal finance, retirement plan, savings accountCHS

Last week we discussed the role that saving plays in creating a secure financial future. Saving helps you to develop the discipline required for money success; experience money accumulation, not just money attrition; amass emergency funds; and build a solid base to boost your investments.

An important part of planning for your finances involves determining areas of risk which could potentially jeopardise your ability to realise your objectives. Once you have identified these factors, you need to implement strategies to avoid or mitigate these problems as best as possible.

Like any other aspect of your finances, your savings are subject to certain dynamics which can put your money at risk. Let’s examine some of the various situations and challenges which have the potential of crippling your savings goals. Continue reading Defending Your Savings →

Making Sense of Saving

May 15, 2015Savingbank account, emergency fund, health insurance, inflation, interest rate, Jamaica, Law of Accumulation, Money Coach, personal financeCHS

I recently overheard two shoppers discussing the high price of groceries at the supermarket. One lamented that she had to discontinue her son’s college savings plan as it was costing her more each month to buy the necessities. “Right now, it just doesn’t make any sense to save,” she complained.

Rising inflation levels and reduced interest rates have definitely curtailed the ability and willingness of many people to save. When they have to make a choice between paying the bills and putting aside money for the future, their current needs will always take precedence.

Some people believe that the money tradition of saving has gone the way of phone booths and floppy disks — an outdated and old-fashioned relic of times gone by. They declare that it is more money-savvy to invest their cash than to leave it languishing in low-interest bank accounts.

Despite the realities of tenuous budgets and unattractive returns on savings, there are many reasons why the practice of saving is still an essential financial habit to adopt. Let’s look at some considerations that will help you to make sense of saving. Continue reading Making Sense of Saving →

Safeguarding Your Property

May 8, 2015Home Buying, Risk Protectionbudget, foreclosure, home insurance, Jamaica, maintenance, manage risk, Money Coach, mortgage, neighborhood watch, personal financeCHS

Your financial wealth is not determined solely by the amount of money you have in your savings account; the value of the assets you have accumulated over time is another factor. Many people believe that purchasing a home would be an important acquisition that would boost their net worth.

Owning a property can provide you with a physical sanctuary that will give you the peace of mind to excel in your other financial endeavours. Knowing that you and your family will always have a place to call home can also give you the impetus to work harder to protect this important legacy.

Whether you direct your money into the ownership of property, place funds in formal investment options, or invest your resources in operating your own business, it is important to consider all the possible challenges that could arise which could jeopardise the preservation of your wealth. Continue reading Safeguarding Your Property →

Financially S.M.A.R.T. Advice

Practical, Down-to-earth Money Advice