Be Uncomfortable With Debt

Be Uncomfortable With Debt

One of our Cari$ Rules for Financial Freedom is to “Be debt free” because we believe real Financial Freedom is only achieved when you are debt free. Put another way, we recommend individuals treat debt with a healthy amount of respect (if not fear), eliminating it quickly, or avoiding it whenever possible. But if we look around, many people use debt freely, almost as if there were no consequences. In this, and a few related posts, we

Buying a Car

Buying a Car

Owning your first car is a thrilling experience; as a matter of fact, your pulse races every time you own a different car! Probably the freedom a car represents is intoxicating. But after the euphoria, we know several people who get a twinge of buyer’s remorse because of unexpected costs that pop up. An improperly evaluated decision can therefore have financial consequences for a number of years. In reality, buying a car is a complicated

Understanding Hire Purchase – Part 1

Understanding Hire Purchase – Part 1

Hire Purchase (HP) transactions take place everyday for various consumer goods such as furniture, appliances, televisions, and even cars. Several retailers offer these items for sale and tempt you by offering you to “buy on terms”, or put another way, pay for the item with instalments over an agreed period of time (usually up to three years). It sounds pretty straightforward: bring a job letter, payslip, utility bill (or some variation of these requirements); sign

What are Savings?

What are Savings?

We are sure everyone intuitively recognizes the need to keep a portion of their income for various purposes, but we would understand if you struggle to decide how much to save and what it should be used for. The purpose of this post is to discuss a few principles around saving: Part 1 will address why saving is important, what is and is not, and in Part 2, we’ll talk about how you could approach increasing your savings. Learning about saving

APR – The True Cost of a Loan

APR – The True Cost of a Loan

We all know the interest rate on a loan is the cost to borrow money. Although at CariDollarsAndSense we believe Financial Freedom is achieved more rapidly if you avoid most debt, if you must borrow, then try to get the lowest interest rate possible. Unfortunately, determining the lowest rate is often not straightforward. The purpose of this post is to help you understand the problems involved, so you can keep more of your money (pay less interest).

Couples Finances: Joint or Separate Bank Accounts?

Couples Finances: Joint or Separate Bank Accounts?

In the previous article, Couples Finances: Long-term Relationships, we explained the importance of having a pre-marriage financial conversation in order for both persons to understand each other’s financial health, philosophies, and goals, as well to obtain agreement on certain key decisions. As a reminder, we view a long-term relationship as a commitment to share your life with someone, whether formally or informally. But to keep the description simple, we just refer to both these arrangements broadly as “marriage”.

More Resume Don’ts

More Resume Don’ts

This is the continuation of the post Resume Don’ts, where we began to provide a detailed point-by-point list of things you should try to avoid when preparing your resume. Your resume is an important document, as it is the key that opens a door to an interview; therefore, it is critical that you avoid as many pitfalls as possible in creating it. In the previous post, we covered a number of out “pet peeves” (which were a miscellaneous collection

How to Create a Personal Budget

How to Create a Personal Budget

If you read Cari$ Rules for Financial Freedom, you’ll notice our first rule is “No Budget? No Chance”. What this means is that we fundamentally believe taking control of your finances and achieving Financial Freedom is only possible when you have a personal budget. While we provide a lot of detailed guidance in our Budgeting Series, the purpose of this post is to summarize the process of creating a budget, so you have a big-picture view before diving into the details.

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