Although online payment is prevalent nowadays, you may still find yourself in a situation where you need to write a check. For example, when you pay a contractor that doesn’t take a credit card payment or when you write a deposit check for your home purchase. If you are not familiar with how to write … Read more How to Write a Check and Balance Your Checkbook
Financial Freedom and Personal Finance Success by Moolanomy.comMoolanomy Personal Finance Blog is home to the 12 Steps Guide to Financial Freedom and Personal Finance Success. We discuss financial concepts in an easy to understand language to help you improve your finances and better your life.
The S&P 500 is a market capitalization weight index. This means that larger companies make up larger percentages of the index than smaller companies. The percentage is calculated by taking the market capitalization of the stock and divided by the total market capitalization of the entire index. For example, the largest company in the S&P … Read more S&P 500 Equal Weight Index vs Capitalization Weight (RSP vs SPY)
Should you pay off debt or invest? The answer really depends on your specific situation, but it is a question worth exploring in detail since so many people go through this decision-making process at one time or another. The first step to answering this question is to understand the debts that you owe. Pay Off … Read more Should You Pay Off Debt or Invest?
Sometimes you just need to stop spending money for a few days. Maybe you are already over budget, or close to it, and the month isn’t over. Perhaps you have savings goals with deadlines and need to kick a little extra towards one of those goals before the deadline comes and goes. Or maybe you … Read more How to Have a No-Spend Weekend
How close are you to financial independence? What if I tell you that you can calculate this number down to a reasonably precise percentage. Regardless of where you stand financially, knowing where you are is a great way to help you move closer toward your goal of financial independence. Like measuring distance or time, knowing … Read more How to Calculate Your Financial Independence Ratio
Most investors use asset allocation as a core investing strategy. This means investing a specific amount in each investment, which could be viewed as slices in a pie. At the high level, these pies are different asset classes like equities, fixed income, real estate, commodities, and cash. Within each pie, an investor also decides a … Read more Portfolio Rebalancing Strategies: How and When to Rebalance Your Portfolio
A Dividend Reinvestment Plan, or DRIP, is an easy way to buy more shares using the dividends you received from your stocks. With this plan, you grow the number of shares you have over long periods of time. Many companies offer their shareholders the ability to convert dividends into additional shares of stock directly without … Read more A Guide to Dividend Reinvestment Plan (DRIP)
One of the more popular investment strategies is to invest in dividend-paying stocks. In this article, we will go over the basics about what are dividend stocks and the advantages and disadvantages of dividend investing. Dividend investing is a powerful method to grow your wealth while generating regular income. Depending on your financial situation, you … Read more Dividend Investing Basics, Advantages, and Disadvantages
I have been lending in peer-to-peer lending networks like Lending Club and Prosper for about ten years now. Today, I want to share with you some of the things I have learned, and you can decide if this is the right investment for you. For those looking for quick answers: yes, peer-to-peer lending is a … Read more Invest in Peer-to-Peer Lending with Lending Club, Returns and Risks
What number is considered a good credit score rating? On a scale that goes from 300 to 850, two of the three credit bureaus and myFICO® consider 670 as the lower end of the GOOD credit rating. On a more conservative side, you can probably consider anything above 720 as the definitive starting point for … Read more What is a Good Credit Score Rating?