How To Buy with Credit
What’s on your list of things you may want to purchase soon? Perhaps it’s new furniture, a car or a home. Or it could be a student loan for yourself or your child. Using Credit For most of us, this will mean financing the purchase by using some form of credit. Purchasing something “on credit” […]
Compound Interest – The 8th Wonder of the World
Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it”. Understanding Simple & Compound Interest Interest is the cost of using somebody else’s money. When you borrow money, you pay interest. When you lend, or invest, money, you earn interest. Interest is […]
Developing a “Saving Money” Mindset
Let’s face it, creating and maintaining a money saving mindset can be difficult. Developing a “Saving Money” Mindset It may not be easy. It may mean making difficult decisions. It can take time. It requires discipline. But the benefits can be life-changing and provide you with a certain sense of security and peace-of-mind. It is […]
Making Your Financial Goals S.M.A.R.T.
Making Your Financial Goals S.M.A.R.T. “Preparation is the key to success.” ~ Alexander Graham Bell Setting goals, including financial goals, not only provides you direction and gives you control of your future, can give you a great sense of personal satisfaction. Reaching your goals is possible when they are S.M.A.R.T. – Specific, Measurable, Achievable, Relevant, […]
Budgeting: How To Make Your Money Work For You
Make a Monthly Budget Work for You! Reaching your personal financial objectives, like most things in life, requires setting goals. For most of us, reaching financial objectives also needs to include creating and using a monthly budget (also known as a spending plan). Whether your goals are as short-term as meeting your household’s monthly expenses […]
Most Millionaires Track Their Net Worth – You Should Too
Your financial net worth is simply a snapshot of your financial health at a specific moment in time. Calculating Your Financial Net Worth Calculating your financial net worth can confirm how well you are doing on your path to financial independence. To begin calculating your financial net worth, first list all of your assets (what […]
How to Diversify Your Income
Household and personal income is defined as “the sum of all the wages, salaries, profits, interest payments, rents, and other forms of earnings received in a given period of time.” Simply put, it is all the sources of money you receive. There are generally three types of income: earned income, portfolio income, and passive income. […]
The Simple Path to Wealth: Your road map to financial independence and a rich, free life
Our Director of Operations Mike is always reading something to further his professional knowledge and to develop his personal leadership and professional development skills. This week he shares his enthusiasm for J.L. Collins’ “The Simple Path to Wealth: Your road map to financial independence and a rich, free life”. Mike says, “J.L. Collins is very […]
Catching up with Fellow Liam Deselle – MFF’s Save Invest Grow Podcast Series
In this Catching up with past Fellow’s episode, we speak with Liam Deselle. Liam originally started our MFF program at age 13 and is our last ‘Pioneer Fellow’. Catching up with Fellow Liam Deselle Listen in as we talk about saving, investing, and growing your money, business, and your life! You can follow our podcasts […]
Hello 2022!
Welcome to 2022! At this time of year, some of say “This is the year, I will (fill in the blank).” These resolutions are created with good intentions, but often don’t quite succeed. Sometimes the resolution is a little overly ambitious and sometimes because we do not see immediate results, we give up. The MFF […]