Mental accounting is also called psychological accounting as it tries to describe how people categorize and label financial income and outgo of money. This behavioral economic theory was fir... Read more
The Richest Man in Babylon is a great little personal finance book set as an ancient fictional tale that explains the ‘The Seven Cures to a Lean Purse’ and ‘The Five Rules... Read more
Net worth is the total value of every asset that an individual owns subtracted by all their liabilities. Net worth can also be calculated for businesses, governments, or countries. To calcu... Read more
In 2018 taxpayers could no longer deduct more than $10,000 of total state and local taxes. One of the biggest expenses ordinary people have that they think little about is taxes. For many,... Read more
Money is not random in nature it has principles and rules for where it ends up. No matter where you start out in life from a financial standpoint there are things you can do to create cash f... Read more
Personal finance 101: Earning income is offense and a spending budget is defense. You have to score a lot of money without giving it back. Money constantly flows from those that spend it as... Read more
Personal finances is simply the management of your incoming cash versus your outgoing spending. Personal finances is more behavioral than mathematical. If a person is frugal and does not spe... Read more
Financial independence is a state in which an individual or household has sufficient wealth to live on without having to depend on income from some form of employment. Many people can not gr... Read more
The majority of people think the only way to make money is to have a job. They also think they must go to college to get a good job. A job is just a one of many ways to create cash flow and... Read more
This blog post was inspired by the writings of N.N. Taleb. There is more to life than just having money. The real wealth comes from the freedom that money can buy. Time is the most valuable... Read more
