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Financial Freedom and Personal Finance Success by Moolanomy.com

Moolanomy 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.

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Should You Refinance Your Mortgage? Refinancing Pros and Cons

Should You Refinance Your Mortgage? Refinancing Pros and Cons 4

Should you refinance your mortgage? The general rule of thumb is if you can reduce your current interest rate by 1% or more, it is worth it to do a mortgage refinance. And many people are happy to follow this rule as long as it lowers their monthly payment or lets them take out some … Read moreShould You Refinance Your Mortgage? Refinancing Pros and Cons

Renting vs Buying – Should You Rent or Buy Your Home?

Rent vs Buy Calculator

As a Realtor, I have dissuaded potential home buyers from buying more than once. Yes, it is not good for my pocketbook, but it is the right thing to do. If you’re in the financial and credit position to buy a house, buying may still not be the right thing for you (see below). For … Read moreRenting vs Buying – Should You Rent or Buy Your Home?

12 Steps to Financial Freedom and Personal Finance Success

12 Steps to Financial Freedom and Personal Finance Success 5

Welcome to Moolanomy. You’ve just found a road map to help you improve your finances and change your life! I have been managing my own finances since I gradated from college in 1995. Through the course of the years, I have done many things right and I also made plenty of mistakes. I have learned … Read more12 Steps to Financial Freedom and Personal Finance Success

40+ Passive Income Ideas and Ways to Make Money

40+ Passive Income Ideas and Ways to Make Money 10

Passive income are income sources that require very little work once you set it up and put things in motion. Although there are many different ways to make money, we will try to focus on money making ideas that doesn’t require as much ongoing effort (i.e., it is not a job or a business). If … Read more40+ Passive Income Ideas and Ways to Make Money

Your Paycheck: Tax Withholdings and Payroll Deductions Explained

Your Paycheck: Tax Withholdings and Payroll Deductions Explained 13

When you first start a job, it’s exciting. You agree on a salary, and you are thrilled that you will soon be getting paid. If you are receiving a salary of $40,000 a year, and you are paid every two weeks, that means your pay (divided by 26 pay periods) should be $1,538.46 each check. … Read moreYour Paycheck: Tax Withholdings and Payroll Deductions Explained