Archive for the 'Media Mentions' Category
Tuesday, March 29th, 2011
Just Pay More
… If nothing else, round your payments up, recommends Tracy Piercy, CFP and CEO of MoneyMinding.com. She says that when people have a payment for $644, they think of it as $650. Why not just pay $650, then? An extra $6 a month on a $200,000, 30-year loan can save you four payments at the end of the mortgage loan. …
When you pay extra, make sure the extra is applied to the principal balance, not just set aside for the next payment. And before you make extra payments, read your contract and make sure you won’t have to pay prepayment penalties.
Refinance With a Shorter-Term Mortgage
… To get the effect of a shorter-term mortgage without the risk, take out a 30-year loan, but make payments as if you had a 10- or 15-year loan. “You just make increased payments. You’re in control, not the bank,” Piercy says. …
Use Money Merge Accounts (The Australian Method)
… there’s no magic formula for shifting your money around. “You don’t need software to do that,” Piercy says.
The biggest downside to the money merge plan is that it requires discipline. “You wouldn’t do it unless you understood cash management,” Piercy says.
Fox News
By Sally Herigstad
Published March 28, 2011
see the whole article here
Posted in Media Mentions | 1 Comment »
Thursday, November 18th, 2010
A recent article titled Financial Literacy Key to Prosperity posted on advisor.ca by Vikram Barhat on November 16, 2010, shared some quotes worth sharing as they support the message we have been delivering for years – and, in fact, are the reason for the MoneyMinding Methodology, programs and business that has been developing since 1997.
“Financial literacy…could have a measurable impact on the economic output of Canada, said Donald Stewart, CEO, Sun Life Financial, speaking at the Distinguished Advisor Conference (DAC) 2010 in Orlando, Florida.”
“Stewart urged financial advisors to make financial education “more engaging” to ensure “the country understands, pursues and is receptive to the financial literacy lessons.” (Sounds like the Minute Manager with mVillage to me).
“While stressing that financial literacy has to start at “the school level from coast to coast,” he asked advisors to lead from the front, “Financial life is characterized by complexity and change and the role that you play in advising individuals is a very critical responsibility.” He admitted, though, that an advisor’s job is difficult and challenging, as it takes place in an environment of intensifying regulations and greater complexity.” (That’s why MoneyMinding provides the expertise and third party service so this function can be hands off for the advisor who will be there to support the education, and to not divert their attention from the importance of delivering and maintaining the products and services necessary to fulfill on the financial plans for their clients).
“Stewart particularly encouraged leveraging financial literacy in the family as a way to instill better financial skills in the next generation. Children imitate actions and behavior of their parents and “parents who demonstrate poor financial habits” are passing them on to their children, he said.
“Parents need to acquire the skills and knowledge that their children will acquire so that they can reinforce what should become a lifelong learning process,” said Stewart. “If you improve the financial life of a parent you’d be making a key difference to the children and so ultimately to all of our futures.” (We’ve been supporting families, spouses, and whole generations with financial literacy for years – congratulations to those MoneyMinding Members who have recognized this and have taken action for positive change).
“One of the highlights of the assessment of the current state of financial literacy around the world is the importance of behavioral economics. “People behave in financial situations in a way that isn’t entirely economically rational,” said Stewart. (Hallelujah – it’s not just about knowledge it’s the emotional confidence to make positive personal financial choices – hence, the MoneyMinding Methodology integrating financial literacy and behavioral finance).
“As elsewhere, Canadian financial landscape is changing and advisors need to keep up with it. “There is a big responsibility that goes with all this change, because if you don’t [participate] then you contribute to naysayers who don’t agree that financial advisors are making a huge difference to the lives of Canadians.” (Again, I say thank you to the MoneyMinding Marketing Partners and Mentors who are part of the solution and not contributing to the problem!!)
“Economies are increasingly becoming synchronized as globalization continues to shrink the world. Now more than ever, advisors need to keep an eye on the highly linked events of today’s world. Stewart drew attention to the economic development of India and China to illustrate how changes in one part of the world can reverberate far and wide. “Keep aware of what is going on in these two major emerging economies, because it’s not something that we are unconnected from.” (And, globalization is one reason why MoneyMinding is universal in its content and not connected in any way to any country or geographical area. The goal is to help strengthen the communication between advisors and clients with the financial literacy and behavioral finance programs).
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Monday, March 29th, 2010
Victoria, BC – MoneyMinding Inc. today announced that Tracy Piercy, Chief Executive Officer, has been invited to participate and present a Brief before the Federal Task Force on Financial Literacy on April 6, 2010 in Vancouver, BC.
Ms. Piercy has specialized in financial literacy for 12 of her 20 years working in the financial industry. She is also an expert on the behavioral aspects of money decisions and commented that “one of the big challenges facing the task force is that most consumers don’t know what they don’t know when it comes to financial literacy, and often are not able to spend the time or money to access this education the way it is currently presented. MoneyMinding offers solutions to these obstacles by providing convenient, bite-sized financial education in a format that allows the consumer to access and learn at their own pace and comfort.”
MoneyMinding specializes in providing innovative, “outside of the box” delivery of independent, practical financial education to the financial industry, corporations and consumers throughout North America and overseas. Training is delivered through courses and materials, primarily in an online environment. The star of the Company is the Minute Manager Service, which provides pertinent financial information that is applicable to the consumer’s daily life; relevant information that they can connect with every time they pull out their wallet to make a purchase or make any kind of financial decision.
MoneyMinding is pleased to be a part of this event and present ideas for the Canadian Government’s consideration on how to best provide financial education to a broad spectrum of people - young, old, rich and poor - in a variety of venues, including schools, employers, financial institutions and governments.
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Tuesday, November 17th, 2009
Sometimes what you don’t know can hurt you! In fact, blind faith and lack of knowledge make you more vulnerable to becoming a victim.
A lack of financial understanding is no excuse, yet is the reason why millions of people suffer from financial anxiety and thousands end up getting fleeced. You may think you’re doing all the right things by asking professionals about financial transactions, but this is no guarantee that you won’t be ripped off or make an inappropriate investment. Getting your education from a financial professional who has a vested interest in selling you a product or service is like asking the fox to guard the henhouse. At best, you get someone providing you with biased information; at worst they are just licking their chops! The reality is you don’t have money to lose, and even if you have an advisor, that person will never have to walk in your shoes. The worst thing you can do is to have blind faith in a third party simply because they have expertise in an area that you know very little about.
So what do you do? Practical financial education for adults isn’t readily available, and to go back to school to learn takes time and money.
The solution is simple. There’s a new breed of financial professionals who are subscribing to a neutral third party service to help educate their clients, thereby reducing the potential for conflict of interest. Not only are these advisors providing added value and education to their clients through these services, they are helping them get informed on issues they need to be aware of; the kinds of questions they should be asking; and the type of information they need to make informed, competent personal financial decisions. These advisors are holding themselves to a new level of accountability above and beyond industry requirements by directing clients to inexpensive, unbiased training.
One such program, The MoneyMinding Minute Manager, has been developed by a financial literacy expert and specialist in behavioral finance. This program incorporates day-to-day activities with the emotional element of financial decision-making. Among its many resources, subscribers receive tips, ideas and action plans and have access to an online community allowing them to ask personal questions in an anonymous forum. Consumers cannot purchase financial products, but do get their financial direction allowing them to figure out what they should know before committing their money towards anything. They get direction on what to look for when opening a bank account; how to find money to expand a business; how to make decisions about investing, insurance, mortgages, real estate, wills, taxes, business, kids, marriage, divorce, shopping and more.
“It is third party edu-advice,” says founder of www.moneyminding.com, Tracy Piercy, CFP. “Consumers learn to ask the right questions when making financial decisions and therefore, get better advice and are less likely to fall victim to fraud or inappropriate financial activities.”
For more information contact:
Consumers:
MoneyMinding Inc. or The MoneyMinding Foundation, Victoria, BC
(250)592-0457 or info@moneyminding.com
Media and Financial Professionals:
Tracy Piercy (250)592-047 or tracy@moneyminding.com
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Monday, November 16th, 2009
Gary Rabbior, president of Canadian Foundation for Economic Education says, “The recent calls for more Canadians to know more about their finances is a great opportunity for change…” and outlines all the benefits of the MoneyMinding system and training in his recent article called 10 Tips to Improve Canada’s Financial Literacy published on Monday, Nov. 16, 2009:
http://www.theglobeandmail.com/globe-investor/investment-ideas/investor-education/10-tips-to-improve-canadas-financial-literacy/article1361343/
He also says, “It takes incentives and more than education to change our ways…” and that “programs aimed at kids from kindergarten to Grade 12 to increase their financial literacy are a good move, if they’re done right…” but, there is a need for the established adult too:
http://www.theglobeandmail.com/globe-investor/investment-ideas/investor-education/it-takes-incentives-and-more-than-education-to-change-our-ways/article1361342/
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Wednesday, May 27th, 2009
Posted by Warren Frey on Tue, May 26, 2009 9:40 AM · http://www.techvibes.com/blog/moneyminding-connects-financial-advisers-consumers
Moneyminding, a new company that has created a multi-media educational system that aims to teach people how to gain financial acumen without having to go back to school.
The current system, said MoneyMinding CEO Tracy Piercy, doesn’t work. People have been told to save a nest egg for retirement but only bring home $3,000 a month, so there’s a disconnect between what people are told they should do and what’s actually possible. Additionally, financial professionals are recognizing the need to branch out into a values-based approach and are hungry for a way to stand out from the crowd, Piercy said.
Moneyminding changes the paradigm by automating the delivery of financial education to the consumer.The company’s core product is the MoneyMinding Makeover, which puts consumers through a 30 hour training course that can be attended live or by webinar for $2,000. The course can also be licensed to industry professionals, who can then train consumers. This creates a monthly-annuity like income with high profit margins and low turnover, Piercy said.
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Wednesday, April 8th, 2009
Well at least Tracy and Sue are. In just a few weeks time the National Publicity Summit is being held in New York and we have been accepted as one of the 100 participants they take. We could have gone in October but as far as we are concerned there is no time like the present. It’s a good thing we have access to cash so we can take advantage of unexpected opportunities.
Tracy has to choose the top media people she wants to make contact with and then has to prepare for one on one meetings; pitch and do it quickly. There have been meetings with different specialists: Media (a producer for 7 years with Oprah), Image, and PR. Tracy and Sue are making copious notes and like always we will share all the tips and tricks in our weekly calls and communications with MoneyMinding Certified Advisors.
We have big plans for the knowledge and contacts that will come from participating in this summit. Our MoneyMinding Certified Advisors will receive the maximum beneft we can give in order to reach the countless people who need a fresh perspective in today’s economic environment.
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Tuesday, October 21st, 2008
You know we are saying something different when a corporate press release gets picked up by one of the most prestigious publications in the country!
Investment Executive magazine took our story “Get Rid of the Cliche Financial Advice For Real Results”, edited it just a bit, and ran it in their online edition.
Their title is “Educator urges investors, advisors to take active role during financial crisis”. Actually, we urge investors and advisors to take a more active role at all times!
And of course, the best way to start taking control is by educating yourself, and becoming both familiar and comfortable with discussing your finances and your life goals. That’s why we developed The MoneyMinding Makeover and membership in The MoneyMinding Network.
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Monday, June 30th, 2008
One good turn deserves another: Sally Heringstad, a US-based journalist who writes for CreditCards.com and RedPlum.com, as well as other publications, was looking for money experts and she found us!
In the article “Free Session With A Financial Planner: Should I Bother?”, Sally recommends that you interview three or four financial planners before you decide on one that will be the right fit for you. We agree - you can read the whole article, with a quote from Tracy and a link to MoneyMinding.com, right here.
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Friday, February 1st, 2008
Tracy’s first book, Enlightened Wealth, was chosen this week as a Cool Book of the Day, by internet marketing pioneer Dan Janal for his website, CoolBookOfTheDay.com!
We love Dan anyway because he also runs PR Leads, which provides many opportunities for us to speak to journalists about MoneyMinding. It’s a real bonus to be able to tell the world exactly why Enlightened Wealth is a life-changing read for the starting out, the lifestyle-financed and the worried wealthy alike.
CoolBookOfTheDay posts a new book each day, and they are sorted into categories, with author interviews for each. If you like what you see, the site links to Amazon to order the book.
Why not check it out at www.coolbookoftheday.com and let him know what a great service it is!
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