Money Basics Archives • Parent Portfolio
Before you can invest your money to grow your wealth, it’s essential to understand money basics to make sure you’re pointed in the right direction.
Financial Literacy for Kids: 10 Good Money Habits For Kids
Financial Literacy for Kids: 10 Good Money Habits For Kids Read More »
Selling a car privately, rather than trading it in or selling to a dealer, can mean that you get more money for your vehicle. To help you with the process, here are practical tips on selling your car, along with a couple of other options to consider. 1. Research the Market There are plenty of useful …
9 Tips for Selling a Car Privately Read More »
APR vs. Interest Rate: What’s the difference? Is it important to know? How do lenders calculate both? Which one should I use? These are all great questions! I have good news! This post aims to educate you on Interest Rates and APR, their differences, and how they are calculated. The basics: Interest rate is a …
APR vs. Interest Rate: Understanding the Difference can Save You Money Read More »
Sound investing and successful businesses depend on data to make decisions. Having sales determines if there is a demand for a product. However, the contribution margin determines if a product is profitable, which anyone can easily calculate with the contribution margin formula. I’m a big fan of Shark Tank and love how the sharks throw …
Contribution Margin Formula: How to Determine Your Most Profitable Product Read More »
I know a thing or two about the complexities of launching a new business. As the owner of several businesses in the Los Angeles entertainment industry, I know from experience that you’ll have a quadrillion questions. And one of the initial questions you’ll certainly need to ask is, “What is an LLC, and how does …
Credit cards give people the convenience to spend money for their wants and needs. Unfortunately, when they see their billing statement, they might get overwhelmed. They don’t know which balance to pay. Or, they can’t figure out the difference between the statement balance vs the current balance. What is the Statement Balance? The statement balance …
Statement Balance vs Current Balance: How To Tell The Difference Read More »
You don’t have to make a seven-figure salary to be considered a millionaire. Your net worth just needs to be worth at least a million dollars. But, what about your liquid net worth? I once thought a millionaire was someone who made a million dollars a year. So, if you believe that, too, you are …
Liquid Net Worth Is Absolutely Not Net Worth, Right? Read More »
Rich vs Wealthy. Is there a difference? A friend shared with me an anecdote a long time ago. He said, “Rich people brag about how much they spend, and poor people brag about how much they saved.” I laughed in agreement, thinking he was right. At that time, I thought being rich and being wealthy …
Rich vs Wealthy: What’s the Difference? Read More »
By keeping tabs on your finances, you can create a secure and fulfilling future. That’s where a personal financial statement comes in. At its core, a personal financial statement offers an overview of where you stand financially at any point in time. It can help you succeed in various aspects of your life. Why You …
All About the Personal Financial Statement Read More »
Are you wondering what it takes to be financially independent? The first step is to calculate your FI number and then develop a plan to be financially free. So, if you’re asking, “How to FI?” Here are three basic strategies to help you reach financial independence! What is a Financial Independence Number? The financial independence …
How to FI? Calculate Your FI Number + 3 Basic Strategies to ACHIEVE It! Read More »