Tag: Series

Archive

Prudent Fiscal Planning (Part 6): What Do I Really Own

In our last post in this series, we discussed broadly the balance sheet, which in the sum of all its parts, defines your worth.   Remember, everyone has a balance sheet, even though most of us never take the time to actually define our total worth on paper. To define and actually manage our worth, we must define …

Archive

Prudent Fiscal Planning (Part 5): What I Am Worth

Now that we understand income,  expense and net income–which we arrive at by subtracting expenses from income in any given period–we are now ready to look at the balance sheet, which few understand, but is essential when trying to get a truer understanding of one’s net worth. Everyone’s fiscal interactions with others, which happens everyday …

Archive

Prudent Fiscal Planning (Part 4): To Save, Or Not To Save That Is The Question

Previous posts in this series on prudent fiscal planning, focused on the need for fiscal planning, as well as both the income and expense elements of the profit and loss (income and expense) statement. Today, we will look at net income–which is the total after subtracting expenses from income in any given period–and, yes, it …

Archive

Prudent Fiscal Planning (Part 3):You can’t always get what you want

In the third part of my ongoing series on Prudent Fiscal Planning, let’s discuss the often bugaboo topic of expenses. After following the suggestions from the last article in the series,  you should now have drafted at least your income scenarios for the short, immediate, and long term. Now, you are ready to look at the other …

Archive

Prudent Fiscal Planning (Part 2): Income’s importance in Fiscal Planning and its Effect on Our Standard of Living

In the first post of the series, I discussed the need for prudent fiscal planning in these difficult economic times. Although it may seem that the economy has turned the corner from the most recent, yet severe economic downturn (recession), there are many storm clouds looming on the global economic horizon that could have a …

Archive

Prudent fiscal planning is essential in today’s economically turbulent world (Part 1)

As you sit down to contemplate your budget, and wonder how you will afford to pay for on-going, future educational related expenses, it might be worth your while to take a wider view of your situation from say 30,000 feet. If you where to get airborne and climb to this elevation, this is what you …