Money Tips Network

Yesterday, I pointed out that the house you live in is an essential part of your net worth calculation. But determining the value of your house, especially if it’s the house you live in and not something you track as an investment, can be tricky.

It’s easy to determine the value of your mortgage to include that in your net worth calculation. Just look at the latest statement from the lender. The statement will highlight your remaining balance, and it’s a number you can’t escape if you do in fact, as you should, look at your statement every month.

The house can be trickier to value. But if you include your mortgage in your net worth calculation, you should also include some value for your house. And it should be a value that makes sense. There are at least three ways to determine your home’s value for the purposes of your net worth calculation.

Kathy OGorman

Welcome to the 2014 edition of McDonald’s Monopoly game. The game has returned to its traditional schedule this year with a fall launch. The fast-food giant last year caught everyone off guard by launching the game two months early — in July. But fall just feels right for this game, doesn’t it? The 2014 game [...]

How To Win McDonald’s Monopoly Game, 2014 Edition from personal finance blog Bargaineering.com.

This blog was posted by Kathy OGorman

Naked With Cash is an ongoing series at Consumerism Commentary in which readers share their households’ finances with other readers. These participants benefit from the accountability that comes from tracking their finances publicly and the feedback of the four expert Certified Financial Planners (CFPs).

For more information, read this introduction.

Frugality is a major part of our financial independence strategy. Since we live on only one income and save the other one, we have to be quite careful with our spending.

As I’ve mentioned many times, my perspective on frugality is to spend as little as possible on things that aren’t as important to us so that we can spend adequately on things that are important to us.

Still, there are a number of things that I simply don’t skimp on. Buying the “dirt cheap” version of these things seems to cause more problems in my life than the savings will ever be worth, so instead I either choose to buy these items “for life” (meaning I shoot for highly reliable versions of the item) or I buy the best “bang for the buck” version I can find (relying on recommendations from trusted sources like Consumer Reports).

This is by no means an exhaustive list, but it does provide a great example of some items that I don’t skimp on.

This article is by staff writer William Cowie.

Laughter and hooting filled the house as my wife had Karen and a few other friends over for a mid-morning tea. (Such are the joys of retired life.) The chirping of a cell phone rose from the pile of purses on the sofa. Nobody paid it any attention — whoever it is can leave a message was the general sentiment. Sure enough, the chirping stopped. But then they heard it again. The girls noticed it, paused, but went right on with their story.

Then the phone chirped again. “Whose is that? Don’t answer it!” After the ruffling of half a dozen handbags, Karen held up her little chirper. “Sorry, guys. It’s Rick.” Then she added, firmly, “I’ll call him back later.” Back into its pouch in the purse the phone disappeared, just like a little kangaroo.

It rang again. “Hey, Karen, maybe you should see what Rick wants.”

When I was in high school, I was all about clothes. I mean, I simply couldn't get enough of different shapes, colors, and textures. Buying new clothes at the mall, finding unique pieces at thrift shops, and eventually directing my efforts online was a complete rush for me.

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Net worth is a calculation that immediately defines an individual’s or household’s financial position. It’s only one piece of a greater financial puzzle, but it’s an important piece. The concept of wealth relies mostly on net worth, which contrasts with the concept of poverty, which is generally related to a different financial equation, income.

Wealth however, is relative, while net worth is absolute. Place someone with a net worth of $50,000 in the middle of New York City, and she’s likely to have problems living the same lifestyle as those around her. Place the same individual with the same net worth in rural Kentucky, and the wealth will go further. Visit a developing nation elsewhere on the globe and $50,000 will feel like a million bucks.

"Ewww, oysters!" "Gross, anchovies!" We all have foods we hate, don't we?

But what if those foods are really good for you, and what if it turned out you actually might like them, if fixed another way?