How Much Should You Save into Your Emergency Fund?

By: Michele Thompson $1,000 Seed Money. Everyone should have an emergency fund, everyone agrees. However, there is considerable disagreement over how big an emergency fund should be. The specific size should always be based on a combination of individual needs and preferences, but if you are looking for a guide, below are some recommendations. A $ 1,000 emergency fund The …

View Post

Why Financial Coaching Is Necessary

By: Michele Thompson Financial Coach vs. Financial Advisor The difference between a Financial Coach and a Financial Advisor The first question I am often asked, “isn’t it a conflict of interest for a commercial loan broker to also be a financial coach?”  The answer is no.  Too many business owners come to me as a last resort to obtain funding …

View Post

COMMERCIAL LENDING 101

By: Michele Thompson The 4 C’s. Commercial Real Estate Loans Five years ago, I wrote this article for MyStock911.com.  I am rehashing it today because it still holds true. Commercial lending basics remain the same today as yesterday.  It is amazing to me, how so many people understand the requirements for residential mortgage loans. Yet, as many people, if not …

View Post

Become A Money Saving Expert

By: Michele Thompson 30 Money Saving Tips. The idea of becoming an expert at anything can be intimidating, especially when it comes to money.  However, you do not need a degree in finance to become a money saving expert.  You need a little creativity and an open mind. When you are tired of living paycheck to paycheck, you will learn …

View Post

Attracting Money To Finance Growth

By: Michele Thompson It Takes Money. to make money, and it takes a lot of legwork to attract money to finance growth — even in this era of seemingly free-flowing dollars for dot-com start-ups. Here’s how to get your fair share. In 1998 Family Christian Stores Inc. was looking to raise capital to fund future growth and provide liquidity for …

View Post

Personal Finance 101: How To Get Better With Money

By: Michele Thompson 16 Fundamental Truths . We all want to know, “How do I get better with money?”  Unfortunately for far too many, the answer to the question comes with too many short-term sacrifices.  What I have found over the years are these finance basics will help you improve your financial status.  Are you up to the challenge? First …

View Post

Traditional Budgets Still A Necessary Evil

By: Michele Thompson Budget Do’s, Don’ts, Whys . Traditional budgets can be detrimental to business managers and, worse, can undermine a company’s strategic goals. Here’s how progressive companies are re-engineering budgeting into a value-added process. Budgeting is, perhaps, the most despised task a company must face. It’s often a numbers exercise that is disconnected from overall objectives. It’s influenced more …

View Post

Is Debt a Sin or a Temptation?

By: Michele Thompson Best to avoid it. In many Christian circles, guilt is considered a sin, and there is strong biblical support for this position. However, it is also possible that debts are not a sin unless it is a temptation.   No situation is good. A sin is a sin, and the temptation is something that can lead to …

View Post

Avoiding The 10 Worst Retirement Planning Mistakes

By: Michele Thompson Why You Must Avoid Them. As I continue to update my blog, I am finding lots of articles that still hold as true today as when I originally wrote them in 2010. Avoiding The 10 Worst Retirement Planning Mistakes Members of previous generations have reinvented every phase of life as they went through it. Your generation will …

View Post

Take Control of Your Finances

By: Michele Thompson Managing Your Money. I believe with everything within me that your most potent asset-building tool is your income. Ideas, strategies, goals, visions, focus, and even creative thinking are hugely important, but unless you take control of your finances and have full use of your income to create your wealth, you will not build and maintain it. To …

View Post