The end of the year is a great time to review your financial situation and start planning for the coming year and beyond. This is also a great time to take advantage of some financial opportunities before the year closes, such as year end tax deductions and retirement plan contributions. You may also find that [...]

Welcome to the October 7, 2011 Edition #205 of the Carnival of Financial Planning. The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security. This edition is arranged by subject heading, [...]

One of the results of the recent recession has been a renewed interest in frugality. We all seem to want to know how to save money. However, sometimes being frugal can be costly in the long run. As you make an effort to be frugal, it’s important not to let the desire to save money [...]

The first rule of personal finance has always been creating a budget. While some people don’t use any budget, others feel they’ve got their budgeting system stored in their head. They are satisfied to know they have a ‘good idea’ of how they spend their money. It would be nice if we only had one [...]

Your actions show what is important to you in life, and your financial life is no different. Whatever you think is important, whether consciously or subconsciously, that is what you will spend your money on. We can say we value investing or saving for the future all we want, but if we do not put [...]

Now that the New Year is upon us, everyone has goals and New Year’s Resolutions that they have made. Some people want to get out of debt, and others want to exercise more and lose weight. No matter what your goals are, they will not be easily accomplished if you do not have a plan [...]

For the financially conscious person, keeping good financial records is an important part of managing the household. It is generally a good practice when you observe some good rules about how and when you should dispose of certain financial records. How Long Should You Keep Financial Documents? Knowing which bills and other documents to file [...]

A net worth statement is a great way to get an overall picture of your financial situation. A net worth statement can give you an overall idea of how much money and other assets you have, as well as list all your debts and other obligations. Let’s take a look at what a net worth [...]

Military personnel frequently move and sometimes things get lost in the shuffle. For example, you may switch banks or credit unions when you PCS and forget to close out an account. You may have been due to receive a tax refund, security deposit, utilities deposit, or a dependent may PCS in the middle of a [...]

There is a lot to be said for paying off your mortgage a little bit early. One way you can do that is to enroll to have your mortgage payment deducted from your bank account on a biweekly (every two weeks) basis, rather than on a monthly schedule. Some mortgage lenders and servicers are contacting [...]