“Live Below Your Means”.
It’s probably the most well-known and obvious piece of personal finance advice. Spending more than you earn will lead to debt, instability, and your livelihood being dependent on a job.
Then there’s the “personal finance 180” – you slash expenses, downsize your house, get rid of your car and sell a bunch of stuff, leaving you with a lean mean new budget and lifestyle. … Read More
Apparently last week was America Saves Week. Does that mean the other 51 weeks a year are America Spends Weeks?…(ba dum dum)
Anyways, lately we talk a lot about specific numbers and what role they play. There’s the big names like Net Worth and lesser known (but equally important) Real Hourly Wage. … Read More
Remember the 5 Ws? Depending on how long ago you graduated elementary school it might have been a while, so let me refresh your memory.
Who, What, Where, When, Why
In English class the 5 Ws are introduced as questions you need to ask to successfully solve problems. … Read More
Very early in any stage of personal finance will come the topic of “Net Worth”.
What is Net Worth? It’s your assets minus your expenses. But it can get a whole lot more complicated than that.
Why Should I Know My Net Worth?
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The general assumption in investing is that the stock market returns around 7% a year on average. Some years are better, some worse, with some variance due to fees and investment choices. And so it goes that if you have debts with interest rates anywhere between say 3-6% (typically a mortgage or student loans), you have a difficult choice to make.… Read More
After a few hours of browsing various personal finance topics online it’s possible you’ve encountered an interesting new term:
No, fintech isn’t the name of the company Peter Gibbons worked for in the movie Office Space, but it does sound just as bland. … Read More
Despite being obsessed with all things personal finance for the last couple of years, 2016 was the first time I tracked my spending for an ENTIRE YEAR! On a related note, I also made bigger gains in my net worth than any other year. … Read More