Articles on Personal Finance

The Importance of Personal Finance

There is no shortage of education in the field of finance. There are various academicians who work tirelessly in the...

Process of Financial Planning

The financial goal of most people is to become wealthy. This is the reason why a lot of people are...

The Financial Life Cycle

A lot of young people are not aware of what their financial goals ideally should be. Most of them fall...

Three Types of Income

Financial theorists and practitioners all seem to agree on one basic principle, i.e., diversification is the most important tool which...

Misconceptions about Personal Finance

The importance of financial planning at an individual and family level cannot be overstated. For years, people and even governments...

Macro-Economic Factors and their Effect on Personal Finance

Personal finance is defined in such a way that it is supposed to be linked with the financial decisions of...

Going From Financial Goals to a Financial Plan

The process of financial planning is a bit more organized compared to the traditional saving and investing approach. During financial...

Components of a Financial Plan

Financial planning is often confused with investment planning. Although investment planning is a major part of financial planning, it does...

Personal Financial Statements

It is common practice for businesses to prepare financial statements. This is because they need to get these financial statements...

Advantages and Limitations of a Budget

In the previous article, we learned about the three financial statements. We also learned how income statements and balance sheets...

Ratio Analysis in Personal Finance

Ratio analysis is considered to be very important when it comes to making financial investments. There are many retail investors...

Dollar-Cost Averaging

There are two predominant schools of thought about the stock market. The views of these schools of thought are somewhat...

Pitfalls of Dollar-Cost Averaging

In the previous article, we learned about what dollar-cost averaging is. We also learned about some of the benefits that...

Value Averaging Method of Investment

There are many investors who believed that dollar-cost averaging was not a good strategy and that it did not work...

The Rent vs. Buy Decision

The rent vs. buy decision is as old as the concept of financial planning itself. There are people who have...

Financing Your Home

Buying a home is a huge financial decision. The effects of this decision are felt throughout the life of an...

Fixed-Rate Mortgage vs. Adjustable Rate Mortgage

We already know that a mortgage is one of the biggest expenses that any investor has. It is also common...

The Phenomenon of House Poverty

Homeownership has been at the center of every American dream for the past few decades. The conventional belief is that...

5 Step Retirement Planning

Retirement planning is one of the most neglected fields in financial planning. This is the reason why a lot of...

Retirement Basics: Roth IRA

Roth Individual Retirement Account (IRA) is a retirement account that has been named after Senator Roth, who played an instrumental...

Auto Loans and Personal Finance

Personal finance gurus seem to have differing opinions on many subjects. Some of them believe that mutual funds are good...

Earnings Power in Personal Finance

The United States of America is full of people who have huge student loan debt, credit card debt, and mortgage...

Zero Based Budgeting System Using Envelopes

Budgeting is the start of all financial planning. Till a person is not able to take full control of their...

The Concept of Financial Freedom

Every activity done by human beings is generally linked to a larger goal, a pursuit to achieve something important in...

The Financial Independence Retire Early (FIRE) Movement

In the previous article, we learned about financial freedom or financial independence. However, in the traditional financial planning world, financial...

The “Rich Dad Poor Dad” Philosophy

The domain of personal finance is exceptionally wide. There are lots of experts who have differing opinions, who coexist in...

The Pay Yourself First Principle

Millions of well-intentioned people around the world try to save and invest money every month but fail. They are consistently...

Personal Finance Lessons from Rich Dad Poor Dad

Most of the lessons taught in the “Rich Dad Poor Dad” book series are somewhat unique. This is because the...

Estate Planning in Personal Finance

The goal of personal finance is to accumulate wealth and then disseminate it at the right time in order to...

7 Personal Finance Mistakes to Avoid

In this entire module on personal finance, we have written several articles on steps that need to be taken to...

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Articles on Personal Finance