How Much is Enough Debt? – Part 2

How Much is Enough Debt? – Part 2

In How Much is Enough Debt? – Part 1, we discussed some of the considerations to take into account in deciding the right amount of debt for you. In Part 2 , we get into further details and also focus on the conversation with the lender. As a reminder, in Part 1 we explained that you should determine what you can afford by referencing it to your budget. Once you keep your Fixed expenses to less than

Buying a Home – Part 1: The Basics

Buying a Home – Part 1: The Basics

Are you considering buying a home? This is a big decision, given the potential size of the loan and the long period involved, perhaps one of the biggest financial decisions you’ll make. This type of loan is usually referred to as a “residential mortgage loan” (we’ll say “mortgage” from now), and as you could imagine, there are several considerations to take into account.  We’ll cover this topic in two parts and by the end, we hope to help

How Much is Enough Debt? – Part 1

How Much is Enough Debt? – Part 1

We speak to several people about personal finance and one of the more common issues we encounter is they do not know how to evaluate if they already have too much debt or if a new loan will put them over the edge. In many cases, they rely on a bank to “tell” them based on the amount of loan the bank is willing to provide. We could hear the conversation: someone asks, “how much

Understand Your Net Worth & Set Financial Goals

Understand Your Net Worth & Set Financial Goals

This is the sixth and final post in The Budgeting Series, in which we described in detail how you should create your personal budget. Do you remember how we described a budget? “A budget is the most important component of your plan for financial freedom”.  Financial freedom might mean different things to different people, but we suggested you picture yourself in retirement, then you’ll probably consider financial freedom as being debt free with sufficient income to

Learn to Use Cari$ Loan Calculators

Learn to Use Cari$ Loan Calculators

In  the Tools section you’ll find our Cari$ Loan Calculators. In various posts we refer to how these can help you, so we thought it would be useful to do a separate post to show you how they work.  There are four calculators, which you can download in one spreadsheet, but we show them individually below. Enter amounts in the blue shaded cells, and the calculation results will be shown in the green shaded cells. Go ahead and make

Live Freely Within Budget: Avoid These Problems

Live Freely Within Budget: Avoid These Problems

This is the fifth article in a six-part series in which we walked you through, in a very detailed way, how to prepare a budget. As a reminder, so far we covered the following: Why do you need a budget What information you need to gather How to use a spreadsheet to project income and expenses for 12 months How to create your budget using our 33/33/33 approach If you’ve worked through the articles you should

Wouldn’t You Like to be Debt Free?

Wouldn’t You Like to be Debt Free?

Do you know anyone who is debt free? Are you envious and wish you could be like them? We bet you think they’re lucky, rich people. The reality is, however, you don’t have to be wealthy to be debt free. Yes, some are born with a silver spoon, but many start off with some sort of debt (student loan, mortgage, car loan, whatever) and then work assiduously to eliminate it. Whether your goal is to be debt

Visualize Your Expenses

Visualize Your Expenses

We hope you’ve read though and applied the advice we provided in The Budgeting Series. In that series of articles, we walked you through in a very detailed way how to prepare a budget. As a reminder, we covered the following: Why do you need a budget How to gather your information How to use a spreadsheet to project income and expenses for 12 months How to create your budget using our 33/33/33 approach Pitfalls

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