A budget is a plan to help you balance your income against your expenses. At the minimum, your goal to try to break even each month so you can stay out of debt. However, a good budget should let you to save some money each month so that you can start building your wealth. Creating … Read moreBudgeting: How to Make a Budget
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.
Are you earning the most from your savings and money market deposit accounts? Savings and MM accounts are the foundation of a strong financial plan, providing you with financial stability as you work to achieve your goals. Many banks and credit unions offer a variety of savings and money market accounts, and this article aims … Read moreBest High Yield Savings Accounts for 2019
I started investing early (as soon as I got out of college). BUT…if I can go back in time, I would tell my younger self to start even earlier. Why? It is the power of compounding interest…that’s why! Let’s take a look at why you should start investing right now. “Compound interest is the eighth … Read moreWhy You Should Start Investing Early
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
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?
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
While you would be shocked to hear of a business running their operations without a corporate budget or the ability to account for how much is spent on marketing versus how much is spent on utilities, we live our lives in just that way. We don’t how much we spend on groceries, eating out, or … Read moreBudgeting: When You Track It, You Get Better at It
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
If you want to purchase a home, you might wonder, “how much house can I afford to buy?” With the mortgage rates still close to its all-time lows and home values still below the peak, this may be a good time to buy. But how can you figure out how much house you can really … Read moreHow Much House Can I Afford to Buy?
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