Every area of specialization has its own vocabulary and its own subtleties in word choice. Here are seven pairs of money terms that seem interchangeable at first glance, but are actually slightly different … APR vs. APY These two abbreviations are familiar ones from banks and credit card issuers. Annual percentage rate (APR) gives the … Read more
There are 24 hours a day, last time I checked. How are you creating value for yourself during any of those hours? Times of transition are unsettling. The more transitions we go through, the easier they become, to an extent. If it’s a transition in national power, such as happens every few years, things can … Read more
And this millionaire strategy is not to W-I-N the lottery … I recently was tipped off to a personal finance blog that focuses on achieving wealth through three simple steps. These steps are so fundamental to achieving wealth, the initial letters are baked into the name of the blog. ESIMoney.com focuses heavily on how important it is to earn, … Read more
The pillar of responsible personal finance is to spend less than you earn. If you’ve heard that once, you’ve heard it thousands of times. There are three ways to work towards spending less than you earn: One area that discourages people with finding ways to spend less is that “spending less” often translates to “doing … Read more
A high school friend posted a link to this Mother Jones commentary on an Economist article dealing with education in personal finance. The main point brought out is that “courses in personal finance do not appear to have an impact on adult behaviour.” The article specifically mentions that financial education had no impact on degree … Read more
(That’s the course that follows Unit Pricing 101, of course!) Unit pricing (for the uninitiated) is the calculation that grocery stores put on the shelf price tags that tell you how much an item costs per pound, per ounce, per 100 count, etc. It’s arrived at by dividing the price of the whole package by … Read more
To move forward with our personal finance plan for 2013, we’ll be tracking our expenses more carefully. Just like Johnny Five, we need input to change direction with our finances, and to start making better deals with ourselves to meet financial goals. I’ve had one version of Quicken or another for years, but I’ve always … Read more
Improving one’s personal finances takes some changes. The easiest ones to make are the ones that don’t seem like sacrifice, or aren’t too big a sacrifice. In our efforts to build up our savings again, we’ll try changing our milk habits. Switching from lactose-free milk in the carton to powdered milk may be a change … Read more
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