Having high credit limits can sometimes seem like a validation of our financial success. If these lenders allow you to borrow such a large amount, they must think well enough of you and you are therefore you must be successful. For younger adults, it can even be fun competing with your friends to see who … Read moreIs it Good to Have a High Credit Limit?
Financial Freedom and Personal Finance Success by Moolanomy.comMoolanomy Personal Finance Blog is home to the 12 Steps Guide to Financial Freedom and Personal Finance Success. We discuss financial concepts in an easy to understand language to help you improve your finances and better your life.
Not long ago, I participated in a lively conversation in the GRS forums entitled: Debt Snowball vs. Emergency Fund. The premise is very simple. Should the person start an emergency fund while he’s still in debt? In this case, we are talking specifically about credit card debt averaging 15% in interest. In this article, we … Read moreStart an Emergency Fund or Pay Off Debt?
You know you need to have some money set aside for life’s emergencies, but how much is the right amount? Should you have a separate fund for your car, for unemployment, and for medical problems? At the end of the day having some sort of emergency fund, specific or not, is better than having none at … Read moreEmergency Fund: Your Safety Net Against Financial Emergencies
One of the realities of earning more money is that you also need to report that income to the IRS. When you have a side hustle, you are supposed to report that income — no matter how insignificant it seems to you. Your income is reported on your tax return, usually using Form 1040. Additionally, … Read moreWhat Income Do You Need to Report to the IRS?
Home and auto insurance premiums tend to go up each year. The good news is that it is easy to get free quotes, you can often shop for both policies together and take advantage of multi-policy discount. Insurance premiums are more negotiable than most people think, and with some work, you can save a lot … Read moreHow to Find the Best Home and Auto Insurance Rates
If you sell on eBay or one of the many online marketplaces, you might be wondering if you have to pay taxes on your eBay income? You certainly don’t want to get in hot water with the IRS! So what is the right answer when it come to taxes and eBay income? The short answer … Read moreDo You Have to Pay Income Taxes on eBay Sales?
How much life insurance do I need? That is the same question I asked myself not too long ago triggered by the birth of my son. Personally, I think the best way to answer this question is to educate yourself by reading articles like this one, use a few online calculators to get a rough … Read moreHow Much Life Insurance Do I Need?
Have you ever considered investing in options but got confused just from looking at the ticker symbol? At first glance they can seem a little confusing. A bunch of letters followed by a bunch of numbers just thrown together is enough to scare most investors away. Did you know that option ticker symbols actually serve … Read moreHow to Read Option Ticker Symbols
If you are new to investing and asset allocation, you might see some recommendations to invest in International Stocks, but every person you asks seem to give you a different answer about what percentage of your portfolio should be in international stocks, and why. Personally, I have been in the 30% range for a long … Read moreHow Much of Your Portfolio Should Be in International Stocks?
Mixing money and family typically is not an advisable financial move. All too often personal feelings get tangled up in a web of financial burdens and it can be a very unpleasant and potentially long-term bad situation. It can be made even more complicated when the ones you are closest to in your family … Read moreTips for Lending Money to Family and Friends