Thanksgiving: A Personal Finance Story (Chap. 4)

Baked Pie

Authors’ note:

Explaining accounting and finance can be pretty dull. That’s a problem, if you need to learn accounting or finance.

On a plane from St. Louis to Seattle, I decided to try and fix the problem. What if I could wrap some accounting concepts inside of a quirky (funny?) short story? My goal here is to present some information, and then add another step in the story. So, when you get to the end, you’ve been reminded of an accounting concept- but you’ve received the information in a light-hearted way.

Anyway, that’s the goal here. The stories are written in chapter order, so that there is a logical flow for the reader. Enjoy!

Every family is dysfunctional- especially after a Presidential election.

Personal finance ebook: Sample chapters here

Continue reading Thanksgiving: A Personal Finance Story (Chap. 4)

The Shocking Truth About $9.99

Cash Register Close UP

Does $9.99 really make that much of a difference?

It dawned on me on the Wednesday before Thanskgiving that I had subscription fees that were posting over the holiday weekend. They were on my budget as expense items, but I still needed to reconcile my bank account to see if they had posted correctly. Not a big deal, but it was just one more thing that I had to do before I headed out of town.

So, besides the added time to monitor the expense, I had to ask myself: Does a $9.99 subscription fee really make a make a difference in my budget?

Click Here For Free Report: 10 Great Resources For Personal Finance

You may be asking yourself the same question. The answer for both of us is yes- let me make the case why $9.99 can have a huge impact on your personal budget.

Continue reading The Shocking Truth About $9.99

Halloween Night: A Personal Finance Story (Chap. 3)

jack-o-lantern

Authors’ note:

Explaining personal finance can be pretty dull. That’s a problem, if you need to learn about personal finance.

On a plane from St. Louis to Seattle, I decided to try and fix the problem. What if I could wrap some personal finance concepts inside of a quirky (even funny) short story? My goal here is to present some information, and then add another step in the story. So, when you get to the end, you’ve been reminded of a personal finance concept- but you’ve received the information in a light-hearted way.

Anyway, that’s the goal here. The stories are written in chapter order, so that there is a logical flow for the reader. Enjoy!

Halloween weather is always tricky in St. Louis.

This year’s weather couldn’t be better. Greg chuckled to himself as he set up folding chairs in the driveway as darkness set in. Greg’s driveway was situated along a busy route for trick or treaters, so he set up folding chairs, lights, candy (and a cooler of beer) so he could hand out candy.

Continue reading Halloween Night: A Personal Finance Story (Chap. 3)

6 Ways To Reduce Your Home Mortgage Interest Costs

Small Houses

The amount of interest you pay on your home mortgage may have the biggest impact on your personal finances over your lifetime.

Not sure you believe me? Well, consider this example:

I really like Bankrate’s website, and the site provides a simple home mortgage interest calculator. Let’s assume that you’re buying a $300,000 home loan, putting down a $15,000 cash deposit and borrowing the remaining $285,000 for 30 years. At a 5% rate, your payments are $1,529 a month. If, instead, you have to pay 6.5%, your monthly payment is $1,801 a month.

Continue reading 6 Ways To Reduce Your Home Mortgage Interest Costs

How To Make Smart Decisions About Credit Card Car Rental Insurance

Classic Cars

There’s nothing worse than getting off of an airplane.

You’re tired, and probably in a bit of a mental fog. About a year ago, I got off of a plane, expecting to get on a connecting flight to my destination. I looked at my watch, which indicated that I had arrived at the final destination time. I looked at a guy waking next to me off of the flight.

“This may sound strange, but what city am I in?”

(Preview video) Top 10 Personal Finance Mistakes (And the Tools To Avoid Them)

Continue reading How To Make Smart Decisions About Credit Card Car Rental Insurance

Budgeting at the Coffee Shop: A Personal Finance Story (Chap. 1)

Cash Register Close UP

Authors’ note: 

Explaining accounting and finance can be pretty dull. That’s a problem, if you need to learn accounting or finance.

On a plane from St. Louis to Seattle, I decided to try and fix the problem. What if I could wrap some accounting concepts inside of a quirky (funny?) short story? My goal here is to present some information, and then add another step to the story. So, when you get to the end, you’ve been reminded of an accounting or finance concept- but you’ve received the information in a light-hearted way.

Anyway, that’s the goal here. The stories are written in chapter order, so that there is a logical flow for the reader. Enjoy!

‘Excuse me- is that you in that poster?”

Continue reading Budgeting at the Coffee Shop: A Personal Finance Story (Chap. 1)

The Rear View Mirror and the Tree: An Accounting Story

 

 

Winding Road

Authors’ note:

Explaining accounting and finance can be pretty dull. That’s a problem, if you need to learn accounting or finance.

On a plane from St. Louis to Seattle, I decided to try and fix the problem. What if I could wrap some accounting concepts inside of a quirky (funny?) short story? My goal here is to present some information, and then add another step in the story. So, when you get to the end, you’ve been reminded of an accounting concept- but you’ve received the information in a light-hearted way.

Anyway, that’s the goal here. Enjoy!

Well, it seemed strange.

Greg and his dog Collete eyed the tree between the street and the sidewalk. The bark on one side of the tree seemed to be sheared off, and there was broken glass and plastic around the tree. How in the world…..then his cell phone rang.

Continue reading The Rear View Mirror and the Tree: An Accounting Story

What The Rio Olympics Teaches Us About Personal Finance

Wall Street Two Signs

My favorite Rio Olympics-related headline so far:

Olympic kayaker possibly capsized by couch in Rio de Janeiro

Priceless.

Now, the story isn’t confirmed, but it illustrates all of the controversy related to Brazil’s preparation for the Olympic Games. This situation is a great analogy for personal finance, because it helps us think about the answer to this question:

Are you being realistic about how much your investing, and the growth rate of your portfolio?

(Preview video) Top 10 Personal Finance Mistakes (And the Tools To Avoid Them)

Continue reading What The Rio Olympics Teaches Us About Personal Finance

What a 4 Year Old Teaches Us About Earnings Per Share

Cash Register Close UP

So, I overheard a Dad say something interesting to his 4-year old son (at least he looked to be about 4). His son asked him a question and he said: “I just answered that question, so I’m not going to answer it again”.

That approach would have saved me a lot of time when my kids were small…..

(Preview video) Top 10 Personal Finance Mistakes (And the Tools To Avoid Them)

But it brings up an important point for investors, because you’re bombarded with data and it’s hard to know what questions to ask. When it comes to stock performance, one critically important measure of performance is earnings per share (EPS), and EPS has more than one definition. Make sure you’re clear about which EPS number you’re told- the numbers are very different.

Continue reading What a 4 Year Old Teaches Us About Earnings Per Share