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

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

Creating Your Budget (33/33/33)

Creating Your Budget (33/33/33)

This is the fourth in a series of six articles in which we cover how to create a budget. The previous post Use Cari$ Budget to Pull Everything Together covered how to use a spreadsheet to enter the data you’ve gathered, as well as projecting for twelve months. Here, we show you how to take the next crucial step. If you’ve pulled together all of your income and expenses for a twelve month period, congrats! You have made considerable progress towards

Use Cari$ Budget to Pull Everything Together

Use Cari$ Budget to Pull Everything Together

This is the third of six articles in which we cover how to create a budget. The previous post, Gather Data for Your Budget covered what information you’ll need to have on hand, and now we’ll show you how to use the data. Ok, so you’ve been good and gathered a couple months of data; now let’s use that to get the 12-month picture we explained before. Check out the Tools section; you’ll notice we’re using Excel (i.e. a type of

Financial Plans – A Practical Approach

Financial Plans – A Practical Approach

Let’s try to summarize what are the broad steps you could take to achieve financial freedom. We believe there are two approaches: the “right way” and a practical one. Before continuing, you should remember: A personal financial plan is just that, personal.  Each person’s circumstance is different and will require a different (sometimes radically different) solution.  You should consider if your circumstances require more expert advice i.e. do you need an advisor. This does not mean

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