Personal Finance

Choosing Between Separate and Joint Bank Accounts

While it was once pretty much given that a newly married couple would share their finances in a single account, this is no longer the case. More and more couples seem to favor a system in which each spouse gets their own money and often a third account is set up as a joint [...]

Evaluate Your Financial Situation Using the
Debt-to-Income Ratio

Most people have some kind of debt, whether it is in the form of a mortgage, student or auto loans or credit card debt. It’s important to understand that not all debt is bad. Carrying a mortgage, for example, can make perfect financial sense and help you to enjoy the benefits of home ownership [...]

Develop a Personal or Family Budget
to Achieve Your Financial Goals

A personal or family budget is a plan to effectively manage money by tracking your income and monitoring your expenses. Developing a budget is a critical component when setting your financial goals. Done properly, a budget can help you to optimize the use of your income and minimize financial stress. You should be [...]

Develop a Personal Savings Plan by Analyzing Your Spending

If you’re like many consumers, you are looking for ways to cut back on your spending, you might start by putting your expenses into two categories: necessities and luxuries. Necessities are those items that you must have. These would include food (groceries, not fancy restaurants), shelter (rent or mortgage), clothing and other essentials. [...]

A Principal and Interest Calculator for Monthly Loan Payments

A mortgage, student loan or other debt typically requires the borrower to make monthly payments to the lender that consists of interest and principal. The interest rate is what the lender is charging you for borrowing the money. The interest rate on a mortgage or a student loan is usually much lower than [...]

Using a Present Value Calculator to Plan for Future Expenses

The Stock Research Pro Present Value Per Period Calculator answers the question: “If I need to be able to withdraw a specific amount of money over a number of time periods in the future, how much do I need to deposit today to be able to meet that need?” The calculator simply asks you [...]

The Basics of Credit Scores and Credit Reports

A credit score is a value computed by a credit reporting agency or credit bureau to represent a person’s credit-worthiness. A credit score is based on credit report information presented in the person’s credit history. This information is sold on a subscription-basis to banks and other companies for making their credit decisions. [...]

Simple Steps to Eliminate Credit Card Debt

Credit card debt is a growing problem for many Americans. According to some sources, the Average American family currently carries over $5,000 in high-interest credit card debt (other sources put the average closer to $8,000). While credit cards can be useful tools, especially in case of emergency, their over or improper use is [...]

A Monthly Budget and Spending Analysis Calculator

Regardless of the current level of debt you have, the key to avoiding taking on more debt is in controlling your spending. The best way to accomplish this is to get a handle on your current spending habits, categorizing the money you spend on all products and services on a monthly basis. Gaining [...]

Developing a Personal Savings Plan
(includes calculator)

There are many reasons why everyone should develop and stick to a savings plan. Unfortunately, survey data suggests that most of us do not have what most experts would consider an adequate level of savings, and no plans for building such an emergency reserve. Personal Finance begins with effective planning to have your [...]