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What Is the Formula for Net Income? Net Income = Total Revenue – Total Expenses No matter how much you love what you do, it’s likely you’re working for one reason: money. If you run your own business, you know the ongoing expenses that can eat into your pockets. From employee wages to office supplies, […]
Net Income Formula: How To Calculate Net Income Read More »
Same-sex marriage was legalized nationwide in America in 2015, but the LGBTQ+ community still faces unique financial challenges that can make money management more difficult. With the effects of discrimination, along with expenses many in the general population don’t have, LGBTQ individuals experience unique challenges. Here are five reasons why financial planning is different for
5 Ways Financial Planning Is Different for the LGBTQ+ Community Read More »
How Long Does It Take for a Check to Fully Clear? In most cases, you can expect a check to clear two to five business days after its initial deposit into your bank account. On average, the check clearing process takes two to five business days to hit your account. Business days are generally considered
How Long Does It Take for a Check to Clear? Read More »
There are many different passive income ideas to choose from, especially in today’s world of remote working and flexible schedules. Who knew you could potentially make supplemental income while you sleep? Passive income is the most common solution to do just that. Even though it sounds too good to be true, there are many ways
18 Passive Income Ideas To Boost Your Earnings in 2022 Read More »
What Is Financial Planning? A financial plan acts as a guide for your money and helps you achieve your goals. Financial planning is about building a way to help people achieve their financial goals. You can do financial planning on your own or with the help of a professional. Financial planning is a step-by-step strategy
What is Financial Planning? Read More »
Most young adults want to reduce their financial dependence on their guardians. They know that money management is necessary – even if it’s not always intuitive or taught. From student loans to finding their first apartment, young adults are hit with many important yet unfamiliar financial challenges right off the bat. As a result, it’s
How to Help Your Child Reduce Their Financial Dependence on You Read More »
In a 2021 survey, 32% of all workers reported they were either “not too” or “not at all” confident that they would have enough money to pay for their medical expenses in retirement.1 Regardless of your confidence, however, being aware of potential healthcare costs in retirement will help you understand how much you should budget
Healthcare Costs in Retirement Read More »
Estate planning is an emotionally and financially complex process that investors need to consider. It includes legal and tax implications, investment strategies, and personal questions to help ensure your estate is set up efficiently. Let’s look at some of the most important estate planning documents you should have prepared. Wills & Trusts Wills and Trusts
Estate Planning: Do You Have these Documents Prepared? Read More »
Investing is a long game – but that can be hard to remember when your investments are plummeting. In light of the recent market downturn, some investors are struggling to hold back a sense of panic. You may have heard the current stock market climate described as a bear market. We’ll explain what that means,
Bear Market: Everything You Need to Know Read More »
In a world with stagnating wages and an increasing cost of living, many people are looking for a way out of the rat race. That’s why radical investment strategies and risky business ventures are so popular. Believe it or not, there actually is a reliable way to achieve financial independence – but it’s far from
What is the FIRE Movement + How to Make It A Reality Read More »
With inflation and prices rising at gas pumps, grocery stores and everything in-between it’s more important than ever to track your spending. While it may sound like a daunting task, tracking expenses is easier than you might expect – especially with the help of apps like Mint. The most important thing to remember about expense
Why it’s More Important Than Ever to Track Your Spending Read More »
Long-term financial goals take five or more years to accomplish and generally apply to major life events. Some of the most important long term financial goals people have include saving for retirement and paying off their mortgage. It’s natural to feel overwhelmed when thinking about your finances several years down the road. Seeing your responsibility
Long-Term Financial Goals: How To Plan Your Financial Future at Any Age Read More »
There’s no denying that cryptocurrency has become increasingly popular lately. There are many different forms of cryptocurrency, including Bitcoin, Ethereum, Dogecoin and many others. So while you may hear the terms cryptocurrency and Bitcoin used interchangeably, they are actually different things. Bitcoin is just one form of cryptocurrency, and there exist other types of cryptocurrencies.
WTFinance: What to Know About Getting Paid in Cryptocurrency Read More »
Starting a new routine in any area of life can be challenging. Be it changes to your finances, exercise habits, health or any other type of new routine, one of the best ways that you can increase your chances of success is to make it part of your existing daily routine. Making small changes to
Make Your Money A Daily Routine Read More »
You may have heard that in November 2021, inflation reached the highest rate in 30 years, but what does that mean, and how does it impact you? Let’s start with the basics. Inflation is an economic phenomenon where the value of goods and services in an economy increases over time. Have you ever heard someone
Main Causes of Inflation Read More »
The end of the year can be a time of profligate spending, but it can also be a time where you can find some pretty good deals. If you’ve managed your budget or your sinking funds so you still have extra money left over in November and December, there are a few things you might
Good End of the Year Deals To Look Out For Read More »
Cost Of Goods Sold Definition Cost of goods sold (COGS) is the cost of producing the goods sold by a company. It accounts for the cost of materials and labor directly related to that good and for a designated accounting period. As a company selling products, you need to know the costs of creating those
Cost of Goods Sold Formula: A Step-by-Step Guide Read More »
When diversifying your investment portfolio, the baseball strategy of swinging for singles and doubles instead of home runs comes to mind. Having too much exposure by way of a concentrated position — the equivalent of banking on home runs to win — can increase the risk of your overall portfolio. A concentrated position refers to…
Exchange Funds: One Way to Reduce Concentrated Stock Risk Read More »
For many women around the world, we’ve experienced so much trial and error as it relates to finances. The transitions in life begin in our adolescent years which develop our ideals about money. As we mature, we quickly realize that our wants and needs naturally change over time, directly impacting our money goals. There’s no
5 Women on Things They Wish They Knew About Finances Sooner Read More »
If you’ve decided to take control of your finances, you might be wondering how to start and what are the first things that you’ll want to do. If this sounds like where you are in your life, first of all, congratulations! Deciding to take control of getting your finances is one of the smartest financial
Getting My Finances Together: Where Do I Even Start? Read More »