A $mart & Merry Christmas

A $mart & Merry Christmas

♫ Oy yoy yoy ay yay yay! It’s Christmas! Merry Christmas! ♬ Are you walking around singing Baron’s tune all day? Well ‘tis the season for parang, black-cake, and endless food and drinks. But are you feeling a little anxious over the added expenses that come with the festivities? Well you don’t have to lock your door or say you’re sick just to avoid the costs altogether. It only takes a proactive and creative approach

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

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).

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.

Understanding Credit Card Debt

Understanding Credit Card Debt

In the first part of this post, Joys and Woes of Credit Cards, we identified some of the benefits and dangers of these little pieces of plastic, but we deferred discussing three “dangers” to this post: They are the most expensive form of credit Interest calculations are not easily followed The illusion of minimum payments  Before beginning, we’d like to remind you that we genuinely believe credit cards are an important financial innovation. They just

Cari$ Rules for Financial Freedom

Cari$ Rules for Financial Freedom

Advice and advisors are plentiful for individuals who have surplus funds—at least in the low hundreds of thousands of dollars—to invest. But it is easy to forget that the majority of the working population would not consider themselves “rich” or “wealthy”. Instead, the majority earn a normal income, have a small or limited savings pool, and face normal money challenges and choices in order to grow their savings. At CariDollarsAndSense, we focus on helping the

Regrets Young Earners Should Avoid

Regrets Young Earners Should Avoid

When we look back to our twenties, or compare notes with others about their twenties, of course certain regrets pop up. Some of them are just things you wished you could have done if you had the opportunity and others are just mistakes you should have avoided. Sometimes the best legacy we can leave the generation now entering the working world is to let them know what mistakes we made so they can try to avoid. Naturally, we’ll

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