Archive for the 'Uncategorized' Category
Friday, August 21st, 2009
The following is an announcement from Monday:
Aug 17/09 - CTV News said 40% of Canadians are concerned about money issues and that world economies won’t recover until American Consumers start spending again.
This is exactly why I created the MoneyMinding Wealth Secrets Program – it’s real, it’s personal, it’s comprehensive, it’s encouraging, it’s simple and it is what people say they are looking for today!!!
Here again are some comments from Wealth Secret program participants.
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Wednesday, August 19th, 2009
Register here to attend my free teleseminar today at 6:30pm Pacific (9:30pm Eastern). You’ll learn strategies you can use immediately!
Want to know how you can take back control?
Join my teleseminar today and learn strategies you can use immediately!
If you’re prepared to make at least one small step, and implement it consistently, I guarantee you’ll see the big results you’re looking for in a shorter amount of time than you ever thought possible.
You might not have a clue where you’d start, or how it could even be possible from where you stand. You will need to figure out what you’ve got to work with so you can create wealth for yourself.
Learn how you can get back, and keep control of your money by figuring out what you want in your life, including how and where you’ll earn your money.
This is all about you - what you want and what you can do with what you have today.
If you’re ready to stop struggling, stop wondering, stop resenting, stop being frustrated, overwhelmed and worried, and being sick and tired of being sick and tired, then let’s change all that now - hear more at my teleseminar today!
The session will be about 45-60 minutes and I know that you will take away at least one new immediately actionable idea.
I hope to talk to you then!
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Wednesday, August 19th, 2009
Register here to attend my free teleseminar today at 6:30pm Pacific (9:30pm Eastern). You’ll learn strategies you can use immediately!
Want to know how you can take back control?
Join my teleseminar today and learn strategies you can use immediately!
If you’re prepared to make at least one small step, and implement it consistently, I guarantee you’ll see the big results you’re looking for in a shorter amount of time than you ever thought possible.
You might not have a clue where you’d start, or how it could even be possible from where you stand. You will need to figure out what you’ve got to work with so you can create wealth for yourself.
Learn how you can get back, and keep control of your money by figuring out what you want in your life, including how and where you’ll earn your money.
This is all about you - what you want and what you can do with what you have today.
If you’re ready to stop struggling, stop wondering, stop resenting, stop being frustrated, overwhelmed and worried, and being sick and tired of being sick and tired, then let’s change all that now - hear more at my teleseminar today!
The session will be about 45-60 minutes and I know that you will take away at least one new immediately actionable idea.
I hope to talk to you then!
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Thursday, August 13th, 2009
It’s more than just missed education… listen here!
Posted in Tracy's Thoughts, Uncategorized | No Comments »
Monday, July 6th, 2009
I love shopping. I love nice clothes. I love fashion. And, I love a bargain. It’s treasure hunting to plan out a wardrobe then to play games to find just the right pieces at just the right prices. A recent comment on a sequel to Sex and the City sure missed the point. For all you Sex and the City fans, here is a link to the article I am referring about http://tinyurl.com/l3c85d . I struggle to understand why it’s so hard to make the connection for designer styles to goals. If an $800 pair of shoes isn’t affordable at your current income there are a couple options:
- Find a way to make them affordable
- Look for something similar in a price that is reasonable
- Assess why it is you’re attracted to the item - is I the look or the name?
- If it’s the look - go find it
- If it’s the real deal - then find a way to fit it in to your lifestyle - not by going into debt over - but to really have an income where it’s reasonable to pay that kind of money for an item like that
If all this brings up other judgments or fears or negative reactions, then this is all good learning and an opportunity to assess what’s really important to you and why. For what I can see the comments in the Sex and the City sequel review just illustrate the writer’s values without creating an opportunity for personal assessment or learning from the reader. I’m not sure if the comments were meant to be a review of the movie or not, but regardless, they sure missed the opportunity to provide the audience with some valuable financial training.
The writer’s last paragraph said “What would have been helpful and more inspiring if she wrote something like this: “SATC is an escape for women. We’re not idiots, we know hardly anyone can afford to buy a new pair of Manolo Blahniks and Louboutins every month, and during an economic downturn like this it’s inspiring to be reminded of the light at the end of the tunnel. Since right now when we don’t want to pay $12 to go to the theatre it’s good to be reminded of the abundance we have all around us and the freedoms we have to pursue our dreams and give back to others in need and to be encouraged to create our ideal budget rather than one of constant sacrifice and struggle”.eate our ideal budget rather than one of constant sacrifice and struggle”.
If you like what you have read and want to learn more about money as it relates to you personally, please go to the moneyminding.com website and subscribe to our mailing list for more tips.
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Thursday, April 30th, 2009
And, if you’re a bank, ‘are you causing your clients more financial stress’?
For over 3 months, I have been in the process of switching banks so that all my personal banking is at the same institution as my corporate banking. To say that this process is daunting is an understatement – hence the reason this process is taking so long.
It seems that almost daily, I discover something new about the new bank that I hadn’t even thought to ask. Today, it was about deposits through the ATM, compared to the teller. Now I know to ask different questions – next time. But, how often will I be switching my banking? Not likely for years if at all.
There are so many things: I call the 800# service to find out and they say I have to go to the branch for that. I go to the branch and they say that both my husband and I must come in together. I log on to the computer and find my temporary password has expired. I phone the 800# and I have to reset the password. I find out that the new bank has a process to help switch the automatic debits from one account to another. They say go to the branch. I go to the branch and they say I have to go online.
As you can imagine, it’s not a simple process.
Banking. It’s the cornerstone of where we interact with our money on a day-to-day basis. Is this process stressful – you bet it is! Even simple things like the name of my bank account and which account is connected to my ATM card.
We all spend money every single day and the relationship we have with our bank begins with the banking process. When my bank can help me with my banking, they will certainly be able to help me with my mortgage, my investments, and all the rest of my financial life.
I’m always looking for the teaching tip in any financial transaction so here are some of my tips to help banks and consumers communicate in a stress free way. For detailed banking tips, please refer to Step 7 in the MoneyMinding Makeover Course.
- Know what you need your bank account to do for you.
- Write out how you will use your bank account.
- Get or create a checklist of bank account issues to be aware of from your bank. These are things like number of deposits and withdrawals before fees, holds, ATM access, etc.
- Balance your checkbook as well as check your online statement – i.e. keep good records.
- Allow lots of time and make banking a regular activity in your schedule.
And above all, remember that banking is your daily connection to your money and therefore your best wealth building tool.
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Monday, December 1st, 2008
by Catherine Novak, based on MoneyMinding’s 12 Simple Steps by Tracy Piercy
Train wrecks. Derailments. From where I write this in British Columbia, occasionally our newscasts feature images of a chain of heavy train cars lying on their sides, spilling their contents into a river canyon or a ditch, looking both ungainly and fragile as their small wheels spin helplessly in the air. It’s never pretty, and clean-up is often difficult. Is it any wonder that when crises happen in our life, we sometimes talk about being “derailed”?
For long periods of time we chug along the track that’s been set out before us, delivering our goods, sheltering our passengers. Then, WHAM! A rockslide on the track, or a cow, or even the “wrong kind of snow” causes us to lose our grip, or get jerked off the rails. Whether your metaphorical derailment is a physical injury, a relationship breakup, a sudden financial loss, loss of a job, or death of a family member… these are the circumstances that life throws at us, and putting ourselves back on track often takes time and a series of small steps.
Ironically, often the “life crises” are compounded by money crises. When you can’t work because you are sick or injured, or you are caring for someone else, that can hit you right in the wallet. So what are the steps you need to take get moving forward again?
The first step, and it’s not an easy one when you are knocked over, is to be grateful for where you are. Unlike trains, you are a human being, capable of love, appreciation and gratitude even in the most unlikely circumstances. It might just be “Thank heaven I’m not dead!” or “I’m so glad I have family members who love me,” or “Well, I’m grateful that this lousy thing is done. Let’s see what I have left to work with.” When you know what you are grateful for, take the time to record your thanks – in a notebook, on index cards, or on sticky notes by your bedroom mirror. Don’t let those items of gratitude slip out of your life. Recreate your moment of thanks daily.
This is the perfect time to reflect, reassess, and to make new goals that take into account the life event that you have just been through. When you have your goals, write them down and carry them with you.
Obviously, these first two steps are much broader in scope than you will find in most financial repair “how-tos”. But the truth is, financial health is built on a foundation of overall well-being. When you have these first two priorities in place, then you can ask yourself, “What is the next baby step I can take to reach my goal?” That next step may be to record your daily expenses, so you know where your money is going as well as where it is coming from. It may be to start putting aside your change, so you can use it later for “guilt-free” purchases. Do that one next step consistently for 30 days, so it becomes a part of who you are. If you try to change too much at once, especially when you are already dealing with the larger change of your “derailment”, your new habit may not stick.
Expect success, at least in this one manageable area of your life. Taking charge of your money does not have to be a struggle, provided you approach it in a step-by-step fashion. You may even find it to be one area of calm and control in an otherwise turbulent situation.
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Thursday, November 13th, 2008
by Catherine Novak, based on the MoneyMinding 12 Simple Steps by Tracy Piercy, CFP
A career magician named Tony Eng lived in my town of Victoria BC all his life, until he passed away earlier this year. When he died, it was major local news, because so many local families had been entertained and bedazzled by magic tricks, especially his sleight of hand. Tony could perform standing right in front of you and play tricks with handkerchiefs and cards with such dexterity that even though you were right there, you had no idea how he “put one over” on you. And you loved that he tricked you, because he did it with such warmth and love of his craft
Of course, not all trickery is so warm and fuzzy, especially when it involves your money. Now, this isn’t an article about con artists and other charlatans who are deliberately out to separate you from your money against your will. Plenty of articles have been written about those criminals; many consumer organizations, securities commissions and other regulatory organizations have information on how to protect yourself against theft, fraud and shady deals.
The fact is, we can be tricked by people and circumstances that bear no ill will at all towards us. We can be tricked by the nightly news, by a hot tip from our brother-in-law, or even by our own financial statements… if we’re not maintaining the right focus. Trickery happens when your attention is shifted away from the real focus and onto something else that’s eye-catching and flashy. You may think you have your eye on what’s important – in fact, you’re just looking at the carefully-shuffled deck, or the shiny object. And when your attention is diverted in this fashion, you miss what’s important. You’re duped, and the joke is on you.
The biggest “tricks” when it comes to money are the ones we play on ourselves, when we let ourselves get pulled off-track by undue focus on individual factors that don’t take into account our personal “big picture”. Two of these factors are rates of return and advisor fees. These can form a piece of the picture when we are making financial decisions, but to focus only on these “numbers” is to ignore vital information like your investment philosophy, the quality of your investment and when you need to turn that money into income.
What does it matter if your advisor fees are 2.5 percent when they pay for expertise that would have cost you more time and money to learn on your own? Why should you lose sleep at night in an investment more volatile than you can stomach just to chase a higher rate of return? Perhaps you can reach your goal with a lower rate of return delivered more consistently.
When it comes to money, your focus should always be on your personal, specific goals. Do you know how much money you will need to live life the way you want to? Do you have a plan to make that money come in each month, now or in the future? If so, make that plan come to life. Getting distracted by scary news about the financial markets won’t help. Spending too much time fussing over management expense ratios is counterproductive. Exhausting yourself searching through newspapers and driving across town to save two bucks with a coupon probably won’t help either.
Now is the time to sit down with a trusted advisor, with your spouse, even just with your list of priorities and ask “What am I doing to secure my income on a monthly basis?” You may decide to reshuffle some priorities. You may find that your portfolio needs rebalancing. You might not take your brother-in-law up on that tip -but then again, you might if it contributes toward your monthly income goals! At least this way, your eyes are open and you are looking at something solid and unchanging.
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Monday, November 10th, 2008
The best way to cope with unexpected expenses is to be prepared for them in advance! Financial planning is where you put controls in place that help you cope with both the expected and unexpected events in life. Here are my top four tips:
1. Put systems into place that prepare you for unexpected expenses. It could be a sum of money set aside as “savings” that you add to each month. Many advisors recommend having 3 months’ earnings set aside for just such a purpose.
2. Understand your risks and to take precautions to minimize them. If you aren’t aware of where your risks are, or haven’t evaluated them recently, sit down with a qualified financial advisor at a reputable firm. Consider all the potential areas of exposure: death, sickness, loss of income, loss of money, old age, unexpected accidents or repairs, and so on.
3. Where those risks could result in a devastating change to your life, secure your peace of mind with appropriate insurance. Many people have the basics covered, but what about critical illness, disability, business overhead or long-term care? There is pet “insurance” too, which can spread the inevitable costs of caring for you pet’s health over time, like a forced savings program.
4. Look at your sources of income. Do you have more than one? How much are you in control of its continuity? Many excellent business ideas have come about because the owner faced a critical expense, and faced it with an idea that brought in more money. But if you are proactive and think of that money-making idea before an expense takes you “over-budget”, you will be in better shape. Your secondary sources of income do not have to take a lot of time, either. Income-producing investments, rental properties, or an idea that can be licensed or that produces royalties all count as alternative sources of income.
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Monday, September 29th, 2008
MoneyMinding Network Launch Timely Answer to Personal Money Questions
Victoria BC – MoneyMinding Inc. announced today the launch of its live and online networking component, The MoneyMinding Network. Designed for both financial industry professionals, and the clients who work with them, it features both educational evenings and an on-line social networking presence. “I see the MoneyMinding Network as a vital resource in today’s financial climate, where uncertainty and confusion seem to be overshadowing people’s ability to make good financial decisions”, says Tracy Piercy, CFP, MoneyMinding’s founder. “Networking organizations for business development, community service or simply shared interests have been around forever,” continues Piercy “We are doing something new with networking by integrating day-by-day financial education, unconnected to financial product sales. It’s simply about helping people get better results from their personal finances by asking the right questions and making the right contacts.” One example of the MoneyMinding Network in action is the Mix ‘n’ Mingle, started earlier this year to offer both education and local networking. Each Mix ‘n’ Mingle has drawn close to 100 people who gather to listen to some of Victoria’s most knowledgeable financial and property experts. MoneyMinding was developed by Tracy Piercy, a Certified Financial Planner professional, to teach financial education that explores opportunities “without sacrifice or cutting back”. Since its inception over 3 years ago, MoneyMinding has grown to serve thousands of people across Canada, the USA and around the world. MoneyMinding also supports its sister organization, The MoneyMinding Foundation, a non-profit dedicated to promoting financial literacy to people who otherwise could not afford it.
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