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Personal Finance

Reader Question: Are Clothes a Part of Net Worth?

by Flexo

A reader recently posed this question to Consumerism Commentary: Are clothes a part of net worth? In May, I wrote about how to calculate your net worth. Technically, your net worth includes the value of everything you own subtracted by everything you owe. Your wardrobe, shoes, furniture, coin collection, car(s) if you have one, house(s) ... Continue reading this article…

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How to Calculate Your Net Worth

by Flexo

When I put together my monthly financial reports, I tend to get questions about how I decide what to include and what not to include in my balance sheet. The purpose of determining your net worth is not to compare yourself with others. The real reason to do these simple calculations each month is to ... Continue reading this article…

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Financial Lessons From Television Fiction: House

by Flexo

I have to admit there are are two or three television shows I enjoy watching each week. House is one of those shows. I’m drawn to this show for several reasons. I’m a fan of Hugh Laurie from his Blackadder days, and his American accent is usually very convincing. Also, the show takes place in ... Continue reading this article…

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4 Ways to Simplify Finances Where Possible

by Flexo

As I write this I am in the process of looking at apartments for my next move. Meanwhile, I’m also considering moving into a condominium or single family house. This is a tough decision as I have too many unanswered questions about my immediate future. I can’t waste time; my lease is up at the ... Continue reading this article…

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Should High Schools Require Money Management Classes?

by Flexo

USA Today reported earlier this year that teens are not getting a decent financial education. High school students failed a 2006 quiz from the JumpStart Coalition for Personal Financial Literacy, correctly answering an average of only 52.4 percent of questions about credit cards, insurance, retirement and savings. This is well below high school students’ average 57.3 percent ... Continue reading this article…

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Financial Ratios for Personal Evaluation: Debt to Income Ratio

by Flexo

The main reason I first started Consumerism Commentary was to publicly track my financial progress from “down-and-out” to “not quite as bad.” I started plugging my financial details into Quicken, and like Kara from Ka-Blog says, watching your net worth grow is addictive. There’s more to your finances than just the bottom line, though. I ... Continue reading this article…

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Financial Ratios for Personal Evaluation: Working Capital Ratio

by Flexo

I’m a fan of using financial reports to analyze my personal financial position and progress. I’ve done this so far using basic reports, like the balance sheet and income and expense report. When investors and decision makers analyze companies, they also look beyond these statements. There are a number of ratios or comparisons that tell ... Continue reading this article…

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How to Be the CFO of Your Own Life

by Flexo

I think there is a point in every person’s life at which he comes to a realization and has to make a decision that shapes the course of his life. This happened to me in the early part of the year 2002. I’ll spare most of the details, but at this time I realized I ... Continue reading this article…

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Flexo’s Top 6 Personal Finance Websites

by Flexo

If you’ve ever wanted to take a peak inside my brain, now’s your chance. Just don’t try Sylar‘s approach to brain examination. I’d like to share my favorite websites related to personal finance, not including blogs or pfblogs.org. The websites that are listed are here for different reasons. Some I visit often to get new ... Continue reading this article…

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If You Like Calculators, You’ll Love This

by Flexo

When I was a little kid, I had this relatively large, yellow calculator. I had no idea what it was called until I did a little Internet research yesterday. I matched photographs until one jogged my memory: the Little Professor Calculator (more info). Not only could it perform the basic arithmetic functions (I think), but ... Continue reading this article…

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Financial Health Day on Gather

by Flexo

Tomorrow, September 28, 2006, is Financial Health Day on Gather. Gather is a social networking and community website that is based around informative articles written by the community members on an incredibly wide variety of topics. Here are some sample personal finance-related articles that will be featured tomorrow: * Pay the Real Estate Property Tax ... Continue reading this article…

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Here is the Winner of The Big Money by Fred Kobrick

by Flexo

Earlier this week, I participated in JLP’s Question of the Day Marathon by asking about readers’ childhood experiences with money. The question received a number of great responses. To spice up the event, I added a giveaway. One lucky random commenter will receive a free copy of The Big Money: Seven Steps to Picking Great ... Continue reading this article…

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Question of the Day #15

by Flexo

I am participating in JLP’s Question of the Day Marathon, and today, it’s my turn to ask the question. Also, I have a free copy of The Big Money by Fred Kobrick to give away to one random commenter if at least 50 unique individuals (not including trackbacks) post their responses to this question below: ... Continue reading this article…

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Savvy Saver’s Turn to Ask the Question

by Flexo

Today’s Question of the Day comes from Savvy Saver. She asks about a critical financial decision, either good or bad, that put you on your current path. Check it out and leave your answer with Savvy Saver.

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