We all make plans. We set goals and make action plans to meet those goals. And then something happens. Or as Mike Tyson said “Everybody’s got plans… until they get hit.” So today, this is a reminder that just because you have a plan and perhaps even put money behind your goals does not mean […]
How Do You Include Home Improvements in Your Net Worth?
Do you keep a running tally on your net worth, month to month? If so, how do you include your home and home improvements? I’ve used Mint to track my finances for about four years now. If you put in your real estate address(es), it will import the values from Zillow. I’ve found that these […]
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, […]
All The Energy Saving Tips to Reduce Utility Bills
We are heading into summer, when utility bills will skyrocket with air conditioners running non-stop. This is an expensive time of year for many and now is the time to look into how you can save on your utility bills. We’ve got all the tips to reduce utility bills! How much do you spend every […]
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 […]
Why You Need A Home Maintenance Budget
Do you own your home? Or at least have a mortgage and the bank owns your home? If so, you need a home maintenance budget! A special home maintenance budget (or line in your budget) will let you take care of repairs when they happen and even get into preventative mode to keep disasters from […]
Why I Decided Not to Payoff My Student Loans Early
Student loans seem to be the bane of every personal finance blogger. The personal finance community hates student loans. And it is easy to see why. But here I am, with a different perspective. I am in no hurry to payoff my student loans. In fact, I probably won’t payoff my student loans early at […]
Why and How to Avoid or Get Rid of PMI
Private mortgage insurance, or PMI, is a nasty little drain on your personal finances. If you are paying for it, you need to get rid of PMI now! Even though “insurance” is in the name, this monthly fee is not there to protect you if something bad happens. It is only there to protect the […]