The need to come up with a budget in order to be better at handling one’s finances is no longer a new thing. In fact, it is safe to say that even before the phrases “personal finance” or “money management” had been coined, people had long been trying to be keen at allocating certain portions […]
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Key Points: Paying yourself first by setting up a special high-interest account ensures consistent savings. Eliminating smaller debts first gives a sense of accomplishment and encourages continued debt repayment. Automated payments remove the mental load and risk of missing bill deadlines, aiding in debt elimination. Choosing healthy food options not only benefits your health but
Frugal Living: How to Save Money and Build Savings Read More »
Key Points: Setting up an automated savings system is crucial for financial stability. Regularly tracking daily expenses helps in identifying and cutting unnecessary spending. Controlling emotional triggers can prevent impulsive spending and improve finances. A debt elimination plan focused on smaller debts first can ease financial strain. An emergency fund with at least six months’
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Key Points Understanding various retirement plans like the 401(k) Plan, 403(b) Plan, Money Purchase Plan, Employee Stock Ownership Plan, and Defined Benefit Plan. Contributions to 401(k) and 403(b) plans are deducted from your paycheck, often pre-tax. Money Purchase Plans require employers to make contributions on behalf of the employees. Employee Stock Ownership Plan allows employees
Explained: What Are the 5 Common Retirement Plans in USA? Read More »
Saving money is an important part of financial planning. It can help you build a financial cushion for unexpected expenses, prepare for retirement, and even fund a dream vacation. But how much should you save each month? The answer depends on your individual financial goals and circumstances. To determine how much you should save each
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Learn about basic accrual accounting practices such as depreciation, loans, division of assets and liabilities, and how they can help you manage your money effectively.
What basic accrual accounting teach you about managing your money? Read More »
