Category: Personal Finance and Money

2020 Update I posted the update below 12 years ago. President was just sworn in and America was in the middle of the great financial crisis. With the release of 2020 world wealth report, I thought it would be interesting to look at how the rich have got richer and…

In tough economic times many people turn to their credit cards when they need money. But racking up extra debt to deal with financial difficulties is a strategy that's almost sure to backfire. Even when you have less money in your wallet, you should remember that the most important thing…

Financial markets are disintegrating around the world. Professionals and regular investors are seeing red all over the screens and portfolio values are dropping faster than during the dot.com bubble burst or after the September 11 terrorist attacks. Central banks (which includes the federal and reserve banks) around the world, along…

When calculating your net worth, do you include your car as an asset? What value do you assign to it and what about all the running and insurance costs? According to accounting definitions, a car can only be classified as an asset if its current value is greater than what…

Over the weekend I had an interesting talk with a family friend regarding this blog and some of the personal finance and investing topics posted here. After a long discussion and based on his experiences I started looking at some of my financial goals a bit differently. This resulted in a…

>"Gas (& Oil) prices rise to new records". Seems like this headline appears in the news media every day. Oil and gas prices seem to be a topic everyone is discussing and complaining about nowadays. As national average gas prices approach $4 (I am already paying more than that where…

Are you a generous tipper or do you give the minimum tip possible? Do you tip extra for good service or not at all for bad service? Do you tip for take-out or to-go orders? Well, everyone has their own tipping philosophy and it does vary by where you live,…

Like a number of you, I regularly get official looking emails asking me to verify my user name and password details by clicking a link which takes me to a site that looks something like my bank's actual site. In today's cyber-age these type of scams and phishing emails are…

It was recently reported, by the Federal Reserve, that consumer borrowing surged again in March. Consumers increased their borrowing at an annual rate of 7.2%, compared with a 3.1% rate of increase in February. Here is a summary of the worrying borrowing and debt figures: The increase in consumer debt…

I do in my household. Doing the household finances is something I don't mind, apart from seeing all the bills which means money going out the door. I also do the budgeting, taxes and investments. I have a natural affinity for all things finance, a reason I write this blog, and…

Is your desk currently buried under a mountain of mysterious envelopes? You are likely dealing with "financial document fatigue." Signs of this include bills piling up and statements sitting in random piles. Your desk might even be invisible under stacks of paper. Most of us have experienced this chaotic feeling…

Here are 10 good to know facts around one's credit score, what affects it and how to deal with bad credit. 1. Credit scores really impact the purchase of a home Credit scores are driven by the record of paying bills and other debts reported to a credit bureau. Statistical…

Here are 5 quick formulas to help you quickly answer some common money and investing related questions: Q1. How many years does it take to double your money? A1 - Known as the rule of 72. Divide the number 72 by your estimated annual return. So for example, if you…