Posts by Megan Friddle

We’re Growing…and Hiring!

I’m so excited about what is continuing to happen through the I Was Broke. Now I’m Not. Team! We have an amazing team that is so passionate about helping you accomplish far more than you ever thought possible with your personal finances. We’ve seen our dream literally become a reality and EXPLODE (in an incredible way!) before our very eyes!! Over the years, our team has been given the opportunity to teach and speak to literally tens of thousands of people.

With this incredible growth comes the need for great people to help steward this tremendous effort. That’s why we are currently hiring a Part-Time Administrative Assistant.This is a Part-Time position that is located in our Anderson, South Carolina office.

Learn more about this job HERE.

If you feel this role would be an incredible fit for you:

  • Send your resume to: info@iwbnin.com
  • Tell us why you would be an incredible fit for this role and our team
  • Include as many specific skill sets and abilities that you posses that would allow you to excel in this role

How to Grow Your Personal Finances Even in Ministry

Quick note about the Propel Conference. It’s an event for pastors and teams at churches under 300.

I am going to be one of the featured speakers and I will be talking about how to grow your personal finances even in ministry.

This event is going to be so helpful to you and your team along with all of the other session at Propel this year.

Important Note:

Early registration ends in a few days so this is your last chance to get your entire team registered for only $97.

After that the price goes up from there.

Click Here to Register Your Team at the Lowest Rate

Last year they had over 1000 pastors and staff members attend and this year it’s going to be even bigger.

Me and my team will be watching the event and we would love to have yours attend as well. It’s all online so no travel is required.

If you want to grow yourself, your team and your church, I can’t recommend the Propel Conference enough.

Register Here

See You There!

P.S. Early Registration ends in a few days!

How to Grow as a Team

My friends at Ministry Pass recently did a study on leadership development and they found that 70% of pastors go to conference to grow as a leader.

What they also noticed is 81% of church leaders want to do more for themselves and their team but the expense is too costly.

If you are at a church under 300, you understand this tension.  

It’s hard to take your team to a conference because everything adds up real quick:

  • Hotel Rooms
  • Travel Expenses 
  • Multiple Conference Registrations

This makes it really hard for smaller churches to participate in leadership development.

Especially as a group.

They wanted to create something to allow churches under 300 to experience the value and depth of a conference without having to incur a lot of extra cost.

(Drumroll please…)

Propel Conference is a pastor and staff event for churches under 300. The conference will be held on February 1st from Noon – 4pm (EST).

Featuring over a dozen ministry experts, you’ll be coached in discipleship, communication, personal health, and church growth that fit a church of your size.

All of the content will be geared toward you. Your situation, your budget, your church.

Say goodbye to really expensive and time consuming conference trips.

Here are a few of the benefits of attending Propel Conference:

  • You will hear from pastors who have been where you currently are and learn how they were able to grow as a small church
  • You can grow together as a staff    
  • No travel is involved because we are doing an online broadcast

The total cost for your entire church will only be $97 (early bird special)

You read that right…

If you register now the total cost for Propel Conference is only $97 for you, your staff and church elders.

Register Now for Propel Conference 2017

Don’t let money or time keep you or your team from growing as a leaders. Propel Conference will move you forward from where you are, to where you want to be.

I am honored to be one of their featured speakers this year.

Join me and thousands of other leaders as we grow together.

P.S.  The early bird window is open until January 16th, so make sure you register before the price goes up. Register Your Church Here

How to Locate Incredible Mutual Funds

Locating a Mutual Fund can be overwhelming if you don’t know where to look. In this post, I’m showing you the three-part approach I use.

Once I have determined the category of mutual funds that meets my criteria, it is time for me to review actual mutual funds. Here’s the three-part approach:

  1. Mutual Fund Screens – I really like CNN’s Mutual Fund Screener and Morningstar’s Mutual Fund Screener.  For example, I used the CNN screener to select Small Growth Diversified Funds that have delivered an average of 10% annual return OR LARGER for the past 10 years.  It delivered 36 mutual funds that met that criteria!  This really helps me narrow down the search!
  2. Review Retirement Plan Mutual Funds – If your employer has a retirement plan such as a 401(k), 403(b), Simple IRA, or TSP then be sure to review the options available.  My employer has a Simple IRA with American Fund investment options.  Usually an employer helps absorb some of the fees or the fees are reduced by the plan administrator.  This can really help preserve financial gains!
  3. Seek Professional Guidance – I meet with a financial advisor about once a year.  This professional advice helps me look at my investments with more clarity.

Once I have found funds to look at, I look at the following characteristics of each fund:

  • Age of the Mutual Fund  I like mutual funds that are older than me!
  • Investment Growth  I look at the 1, 5, 10, and Lifetime track records.
  • $ Needed To Start  This is really important for beginning investors.
  • The Fund’s Objective  This helps me understand the direction of the fund.

I use the CNN Money Snapshot feature to analyze funds. I also like to compare mutual funds to each other using the “Advanced Charts” feature on CNN money.

So that’s just a glimpse into how I choose mutual funds. Many times I end up with a dead end, and I go back to the starting point again to get more mutual funds to compare!

 

Different Types of Mutual Funds

There are literally THOUSANDS of mutual funds available in the marketplace today.  Each mutual fund is usually assigned to a particular family of mutual funds.

Here are some common categories of mutual funds…

  • International Stock Fund
  • Aggressive Growth Stock Fund
  • Growth Stock Fund
  • Growth & Income Stock Fund
  • Equity-Income Fund
  • Balanced Fund
  • Bond Fund
  • Value Fund
  • Industry-Specific Funds (like Healthcare Fund or Pharmaceutical Fund)
  • Index Funds (S&P 500, Russell 2000, etc.)

If you purchase ownership in an International Stock Mutual Fund, you can bet that it is primarily investing in international companies.  If it is an Aggressive Growth Stock Mutual Fund, you would expect to see the mutual fund purchasing shares of companies that are growing like crazy.

Each family of funds has a general “feel” to it.  The International and Aggressive Growth Stock Mutual Funds tend to have wild swings in performance.  One year it could grow 40% and the next it could lose 25%.  It feels like you are on a great roller coaster ride at Six Flags!

Growth & Income, Equity-Income, and Balanced Funds are more stable and predictable.

Index Funds track specific market indexes like the S&P 500 and the Russell 2000.

Interested in learning more about investing? Check out my book on investing: “Oxen: The Key to An Abundant Harvest” HERE.