Banking and checking account may be a confusing thing for you, since so many different banks offer wide range of alternative checking account.

Please note that not all banking checking accounts are the same accounts, everything depends on what you really want to do with them and their needs. (more…)

Assets are things of value, because it can be exchange into cash. Your assets include real estate property you personally own and some of your financial investment. On the other hands you have debts as your liabilities. For this case, your home is your asset, but the mortgage of your home is your liability.

Assets include real estate, personal property and all your financial assets. (more…)

If a review of your net worth suggests that something needs to be done to improve your financial situation, the best way to understand the problem is to compare what you earn to what you spend. This is called a cash flow analysis. It gets to the basic question of how much of your income is spent on debt service, consumption, and savings. (more…)

When it comes to financial basics, and your money matters become more complex, you need a proper record keeping guidelines. Gone are the days when the bankbooks and canceled checks were the only pieces of paper we had to keep and organize. Now, bank records, bank statements, bank account, savings account records, mutual fund statements, deductible expenses, and bunch of other papers threaten to drown us. In this situation, having an effective and efficient record keeping are more important than ever. There should be a record keeping guidelines that save our days. (more…)