When we hear sales promotions that say it will cost us pennies per day, or for just $1.00 a day we can have this or that, the idea is to keep us thinking in small numbers. But those small numbers add up and become big numbers over time, and it work the same way with […]
Tag Archives: personal finance
Will you be splurging a little or a little too much for the Holidays? Do you plan to set a spending limit this year, and if so, how confident are you that won’t spend above it? In the coming weeks, the news will be filled with statistics about whether holiday spending is up or down […]
We’re often surprised by our credit card statements, and not just because of how much we’re charging. The balance amount always seems to be a number that we wouldn’t have guessed, and some purchases that we expect to see aren’t on the statement, and some that we don’t expect to see are listed. This is […]
We don’t hear much about personal economic value, but when considering survivorship and life insurance it helps us understand and prepare for some really large numbers. Our personal economic value is our earnings potential, or what we expect to earn between now and when we plan to stop working. If I currently earn $124,000 each […]
Buying a home is a major event in our lives, and the excitement can easily overshadow the long-term financial commitment we’re about to make. We tend to view a mortgage much like a car loan and focus on the monthly payment, while overlooking the cost of the loan or total amount of interest that will […]
For some people, their financial goals are to someday be out of debt or have a better handle on their financial situation. But these types of goals don’t lend themselves to an achievable plan, and progress can’t be measured. When we establish financial goals, we assess the things that we need and want in life […]
I was considering a blog on the topic of student loan debt, and came across a great article by the folks at Vanguard. The article “Student debt: How much is too much?” covers the topic, but adds valuable statistics and information including college graduate earnings, understanding what we’re getting into when we take advantage of student […]
Buying a home is a major event in our lives, and the excitement can easily overshadow the long-term financial commitment we’re about to make. This is especially true when we’ve found a home that we love. The property taxes, maintenance, and mortgage obligation that we’re committing to, often take a backseat to the excitement of […]
Let’s face it, prudent personal finance is like swimming against the current. We spend wisely and save according to a plan that meets short-term and long-term needs; we’re paying down debt, and more than the minimum on credit cards, and we’re making some sacrifices along the way. There are trade-offs in every financial decision we’re […]
Our saving plan should cover three essential areas: cash on hand for unexpected bills, money put aside to cover expenses in case our income is interrupted, and an account for later in life when we stop working or work in a reduced capacity. This approach protects our longer term savings from an unexpected withdrawal by providing for short-term […]
Personal Finance Simply Understood 