Category Archives: Finances

The Importance Of A Good Credit Score

Everyone has heard the term credit score. Not everyone really understands its purpose or why they should try to have a good number. Most people only know they should have a good number; they just don’t know what it is.

you could buy one of these houses

Let’s get the immediate question out of the way. A good credit score is considered as any number over 720. There are a lot of things that are considered for a credit score, and since each agency seems to do it different, you could have a good credit score at one and not the other. That’s why it’s always good to get your free credit report annually via the federal government’s agreement at the site Annual Credit Report, which we’ve just linked to.
Continue reading The Importance Of A Good Credit Score

What’s Your Relationship With Money?

The above might seem like a strange question to ask but it’s an important one. The reason it’s important is because there’s many people and businesses that have problems with their finances, and often they’re making enough money so they should be able to sustain themselves just fine.

vintage car

vintage car

Excluding the camp that really doesn’t have enough money to get by easily, there’s two basic relationships with money. One is freedom, the other is security.
Continue reading What’s Your Relationship With Money?

The Concept Of Sunk Cost And How To Use It For Evaluation

The term “sunk cost” basically means evaluating the cost of something going forward and whether what you already have or have already done will change in value if you have to make a financial change. It’s an interesting concept to know about and can be very helpful for both business and personal decisions. Let’s take a look at it.

a lot of sunk cost items here

Let’s say you have a business and it’s time to do upgrades in office supplies. You already have a lot of office furniture, and you’re thinking about buying newer items because they offer better efficiency. But you’re torn because your current furniture still looks pretty good, and in your mind you think you’d be wasting your money either buying something new or getting rid of something old that your mind still sees as valuable.

Continue reading The Concept Of Sunk Cost And How To Use It For Evaluation

5 Things You Should Teach Your Child About Money

This might seem like a strange article coming from an accounting firm. Yet, it’s an important topic, more for those who should be doing it than for those who need to be taught the lessons.

kids and money

Kids don’t understand money; goodness, many adults don’t understand money! Regarding kids, they know how much they can buy with whatever you give them, but they have no clue on how to save it, invest it, or budget it. Once again, that aligns them with many adults unfortunately. But since the idea is to try to make the next generation better, we should try to help them along. And if we as adults can learn some of these lessons, even better.
Continue reading 5 Things You Should Teach Your Child About Money

Four Things To Focus On In Your Financial Life

After talking to some friends, we realizes that life and finances can be hard to come to grips with for many people. Trying to decide what the most important things to concentrate on above everything else can be daunting, especially in today’s economy. Thus, here are our top 4 things, in order, that everyone should concentrate on before moving onto other things.

Brett_Hondow via Pixabay

1. Income.

It doesn’t matter if you’re single or have a family, live in a house or a trailer, need food or live paycheck to paycheck, the most important thing overall is income, aka making a living. Whereas there are those who will tell you that money isn’t everything, without money there’s no way you can live life the way you want to live it, or even to live life independently.
Continue reading Four Things To Focus On In Your Financial Life