Most people are still feeling the hangover of the last recession. But could we be in store for a new recession soon? Many people think so. At 96 months, we are currently in the third longest expansion period since the end of World War II. There have been 11 such periods, with the longest being […]
Category: Personal Finance Basics
Prioritize Debt Repayment With Rising Interest Rates
As was expected, the Federal Reserve announced on Wednesday, June 14, 2017, a quarter-point hike to the interest rate, the second such hike this year. A third interest rate hike is expected later this year. Expect to see three rate hikes for each of the next two years. That means that over the three year […]
What’s Your Personal Financial Goal? What’s Your Plan?
The personal finance blogosphere is full of advice of all sorts. But here is the thing, it’s personal finance. Emphasis on the personal. Not all the advice is going to work for you. Partly because most advice is given with particular goals in mind. Are you trying to pay off debt? Do you want to […]
Two Basic Accounting Formulas Applied to Personal Finances
Did you get the chance to take an accounting course in college? Let’s review two basic accounting formulas you may have learned: Assets = Liabilities + Equity This “Accounting Equation” is the very basic foundation of double entry accounting. Every transaction has to make sure that this equation is in balance. Using basic arithmetic principles, […]
What Was Your Biggest Financial Mistake?
We’ve all made mistakes in our life. You could probably see my biggest financial mistake coming a mile away if you were paying attention. My biggest financial mistake is a common story – lots of credit card debt early in my career – mixed up with some tax debts and a new-to-me car. Background Info […]
Create Your Own Personal Record Retention Policy
Have you ever looked around your home office and asked yourself why are you keeping all this paper? Now is the time to create your very own personal record retention policy. A personal record retention policy will let you quickly decide what to keep and what to get rid of. A record retention policy will […]