Impact of Home Purchase on Future Expenses
This blog will be useful for first time home buyers and long-time renters.I recommend those in he age bracket of 25-30 years that are staying with your parents/ guardians to…
How Does Spending Correlate to Child Age?
This blog is useful for parents/ to-be parents that plan to have their children stay with them. Pre-read: Expense Trending & Budgeting - Myfinancejournal You have now created a detailed…
Cash Flow: How to have money for savings and investments?
This blog is useful for most of the readers as it helps them improve their cash available for savings and investments by making small changes to your habits and improving…
Posted inCash Flow Expenses Personal Finance Basics Savings
Expense Categorization, Trending & Budgeting
This blog will increase your awareness about income, spending and will help you set a budget and eventually a plan to manage your finances better, This is a fundamental step…
Posted inCash Flow Expenses Personal Finance Basics Savings
Can sound financial habits adversely impact your credit score?
This blog will be relevant to you once you have reached a good maturity for managing your finances but are still unsure why your credit score is not increasing. Pre…
Posted inExpenses Personal Finance Basics Savings
All you need to know about Credit Score
When apply for a loan or home mortgage, your lenders would refer to your credit score to determine the interest rate. The lower your credit score, higher will be your…
Investment Considerations (When? Where? Why? How? How Often?)
Investments are essential part of our Financial Strategy. They help us save for the future and also provide a decent growth of our monies over a period of time. Prudent…
Asset Classes for Mutual Funds
Shares are a great way to invest and will provide in some cases "abnormal returns" over short to medium time periods. They also carry market risk as they can wash…
Posted inExpenses Investments Savings
How to Determine Budget for a New Home?
You need to prepare a home purchase spreadsheet similar to the below illustration: Table: Calculating Down Payment Purchase Price$532,410Down Payment to Builder($19,370)Credits and Incentives($12,943)Outstanding Balance$500,097Down Payment Rate (% of Purchase…
Posted inAlternate Investments Expenses Investments Savings
Should I Rent or Buy a Home
Staying in your own dwelling is always a nice thing to do once you are settled from a personal milestone perspective. You need to do a thorough financial evaluation on…
Posted inCash Flow Expenses Investments Savings
Maintain Minimum Balance in your Savings & Checking Accounts
The prime reason for us to have a balance in Current and Savings accounts to help with liquidity and easy access to money when we need it. Usually Savings and…
Save Even More with Balance Transfer Card and HELOC Account
Combining the HELOC with the concept of 0% Balance Transfer Card, you can take even more advantage of your balance transfer card by making only minimum payments to the balance…
Posted inAlternate Investments Cash Flow Expenses Savings
How to Reduce overall Mortgage Cost
Balance Transfer Cards If you shop around, you will usually come across companies providing you balance transfer cards that will have a $0 transfer fees and 0% interest for 18…
Posted inInvestments Personal Finance Basics Savings
Recommended Allocation
Now that we know the Categorization of our money based on objectives, it is appropriate to discuss what factors would dictate investment in one objective over another and what triggers…