What’s the Difference between Income and Wealth

What's the Difference between Income and Wealth

In personal finance Income and Wealth are two very different things that are weakly correlated with each other. Having a high income does not mean that you are wealthy, and having a low income doesn’t mean you are penniless. In personal finance, wealth is your net worth. That is the value of all our assets minus your liabilities. Assets being things you own, such as …

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Managing a Debt Problem

How to manage a debt problem

Before you read on, I want to make you aware of a few key points; There are many free services in New Zealand and other countries to help you deal with debt- more about that later. Debt problems only get worse if you don’t address them. If you are hiding your debt from your family, you know it’s a problem. Never borrow more to get …

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The Cost of Your 2-ton, Dinosaur Exploding, Transportation Machine

The Cost of Your 2-ton, Dinosaur Exploding, Transportation Machine. Car ownership costs

The general advice to anyone starting to optimism their life is to cut out spending money on coffee and other daily expenses that are not providing true value to their life. I’ve said it multiple times. But in reality, you should start by optimizing the big expenses first. And the two biggest expenses in your life are housing and transportation- if you own a car. …

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Get Rid of Your Debt ASAP!

Get Rid of Your Debt ASAP!

Let’s be blunt if you have debt you need to pay it off as fast as possible! A little debt, a lot of debt. It doesn’t matter, pay it off!. Maybe your debt’s even gotten to the stage that it has become crippling. There is a way out for everyone with debt. All you need to do is put together a debt elimination plan. And …

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Calculating some FIRE numbers

Calculating some financial independence retire early numbers

I want to achieve financial independence and be able to retire early, just like many of you. There are many reasons for it. To slow travel more, spend quality time with family and friends, expand my mind and pursue my dreams and hobbies. To be able to manage my own time and quite the commute. More freedom. But I realize that I don’t really have …

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Can Higher Taxes Generate Lower Government Revenue?

Can Higher Taxes can Generate Lower Government Revenue

Let’s look at an interesting concept in economics that I read about the other day. It’s called the Laffer curve. Ok, so it’s not really personal finance.  But knowing the strategies behind how governments set tax rates still affect you. So you should know something about it.  If you’re like me, you don’t know what a Laffer curve is, or who Laffer is. Then again, you …

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The Cost of Holding a Job

How much does it cost you to keep a job. there are many extra work expenses that you pay for associated with you job that you may not even be aware of

That is right, you do pay to keep your job. It sounds absurd. Why would someone pay to keep a job? You go to work to earn money, not to pay to keep your job. But you do pay for your job, it’s just not as obvious to you as your paycheck is. You pay for your job through many unnecessary expenses that you incur …

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