MoneyMinding Monitor

MoneyMinding Brings In New Chief Operating Officer

Victoria BC — Tracy Piercy, CEO and Founder of MoneyMinding Inc. is pleased to announce that Dr. Zig Hancyk has become a significant investor and will assume the role of President and Chief Operating Officer (COO) at MoneyMinding.

MoneyMinding® is an inspirational financial education system that goes beyond traditional savings and investment advice to encourage possibilities without “cutting back”. It provides education and success training for both clients who find themselves unsure of where to get the results they need for the lifestyle they desire, and for the financial advisors and other money professionals who work with them. MoneyMinding empowers people to ask better questions to get the answers they need. 

Zig brings to MoneyMinding Inc. many years of executive experience and in particular a track record of successful company growth in both the consulting and high technology sectors in Canada, the US and globally.  Due to the growth of MoneyMinding, Zig will take over the operational duties so Tracy Piercy, a Certified Financial Planner by profession, can focus on business and product development with clients and advisors.

In 2006 Zig was named CEO of the year by the Vancouver Island Advanced Technology Centre, and in addition to his executive roles, has taught MBA courses in management consulting, strategic management, international business, marketing, and entrepreneurship at the University of Ottawa, the University of Victoria, and Royal Roads University. He specializes in strategic planning, leadership, training and development, and change management strategies for companies and governments thereby bringing a unique blend of business and educational experience to the financial industry and the clients that MoneyMinding serves. 

Zig holds a PhD in Business Administration with a specialization in Strategic Planning and Leadership from Capella University in Minneapolis and a Master of Business Administration degree from the John Molson School of Business at Concordia University in Montreal. He is also a Certified Management Consultant (CMC), and a Certified General Accountant (CGA). He is a graduate of Coach U and Corporate Coach U and will be developing a MoneyMinding Coach program for Certified MoneyMinding Advisors to extend the value and distribution of the MoneyMinding lifestyle financial training.

Zig is an active member of various professional communities. He was a member of the Board of Governors at Ryerson University in Toronto, the Vice Chair of the Co-operative Education Program Advisory Council at the University of Victoria and was on the Academic Planning Board of the Technical University of British Columbia (now part of Simon Fraser University). Zig was the Chair of the Vancouver Island Chapter of the Canadian Association of Management Consultants. He also sits on the Employment Assistance Appeal Tribunal for the Province of British Columbia all of which will add additional value to the financial literacy message and the work of MoneyMinding Inc. and the non-profit MoneyMinding Foundation supporting financial literacy and empowerment.

For more information:www.moneyminding.com/media
Catherine Novak, Media Relations 250-592-0457 or toll free 877-764-6444 media@moneyminding.com

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Recession-Proof Your Income

A question from a freelancer looking for comments from money experts generated this response from Tracy: 

One of the main reasons people struggle with money is that they have lost sight of the fact that they are responsible for earning their own income.  When you limit the way you earn income to a job where an employer determines your income you could have recession issues with your income if your employer has you on a fixed wage, while expenses around you are increasing. Many people who teach about money talk about the advantages of “multiple streams of income”; and many people who buy into this teaching will think that to protect their income they need to add a second job, or start a ‘small part-time business’, or start to invest in real estate or the stock market.  While these things are all good ideas for additional sources of money, especially if you depend on wages from employment where job security is beyond your control – it’s critical to first have a plan for how much income you need to live the life you want to live. Having “multiple streams of income” can turn into “multiple streams of lack of focus”, if you don’t first know what you want and how much it’s going to cost on a monthly basis.   For example, if you know that your ideal monthly budget is $4000 a month, then you strategically implement income plans to meet that goal.  You might have a job that pays $3000, and rent a room in your home for $500 and teach piano lessons on the weekend for $500.   The way you recession proof your income is to learn how to earn income from your own efforts.  And the reason this is an issue is because learning how to earn income has become a lost art, that is now predominately all focused on how to get more from your job.  As an employer myself, I prefer to know that my employees have goals and incentives that allow them to reach their goals as opposed to struggling with money and the added stress that negatively affects their performance.  You do not have to become an investment expert or business person – you need to figure out what you enjoy, what assets you have besides just the dollars and cents on your net worth statement and you start asking HOW you can earn income from all that.   Hey, Colonel Sanders was in his late 60’s when he took his chicken recipe to restaurants which eventually become Kentucky Fried Chicken.  Anyone can do that – sadly, very few will.  However, it all starts with a personal goal that has a dollar figure attached to it.

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