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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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Best High Interest and Reward Checking Accounts for August 2019

If you keep a lot of money in your checking account, moving your money to a high-interest checking account may be a good move. Below is a list of highest yields checking accounts. Your principal is protected, and you’re guaranteed a positive return on investment. Before you sign up, review the requirements carefully because many … Read moreBest High Interest and Reward Checking Accounts for August 2019

Best 5% Cash Back Credit Cards for August 2019

Best 5% Cash Back Credit Cards for August 2019 1

The following credit cards offer 5% cashback bonus promotions — usually on a quarterly rotating basis in select categories of goods and stores. The best strategy is to have several of these reward cards so all your categories are covered and you ensure that you don’t hit the cap where your reward is reduced to … Read moreBest 5% Cash Back Credit Cards for August 2019

Should You Invest in Target Date Funds? Pros and Cons

Should You Invest in Target Date Funds? Pros and Cons 2

My first encounter with a Target Date Fund was back in 2006 when my company made Vanguard Target Retirement Funds available for our 401(k) plan. I evaluated the option of using a Target Date Fund but decided against using it because I prefer to manage asset allocation myself using the more traditional asset class-based funds. … Read moreShould You Invest in Target Date Funds? Pros and Cons

How to Raise Credit Score and Fix Bad Credit

How to Raise Credit Score and Fix Bad Credit 6

Regardless of your financial situation, your credit score is an important aspect of your finances. This is especially true if you’re planning to borrow money for any reason. With a better credit score, you could qualify for lower interest rates when you borrow, e.g., home mortgage, car loan, and other types of loans. As such, … Read moreHow to Raise Credit Score and Fix Bad Credit

The S&P 500 Index Historical Returns

The S&P 500 Index Historical Returns 8

The S&P 500 is one of the largest barometers of overall stock market performance available. Most investments use the S&P 500 as the benchmark and compare themselves to the S&P 500 performance. What is the S&P 500 growth rate? As you will see below, the number we regularly use on this blog is a 9% … Read moreThe S&P 500 Index Historical Returns

80/20 Rule: Use the Pareto Principle to Improve Your Finances

80/20 Rule: Use the Pareto Principle to Improve Your Finances 11

The Pareto Principle, also known as the 80-20 rule or the law of the vital few, is an observation that 80% of the effects come from 20% of the causes. I often use the Pareto Principle in my job, primarily when we work on quality or process improvement projects. A beautiful thing about Pareto is … Read more80/20 Rule: Use the Pareto Principle to Improve Your Finances

5 Ways to Save Money on Kids’ Extracurricular Activities

5 Ways to Save Money on Kids' Extracurricular Activities 17

Whether your child is involved in school sports, music, dance, theater, art, or some other activity that goes beyond the scope of ordinary schooling, participation is costly. There are activity fees to pay, lesson providers to compensate, equipment, and supplies to purchase and, on occasion, trips to go on. All of this starts to add … Read more5 Ways to Save Money on Kids’ Extracurricular Activities