Calculating percentage change is a key skill in general, but very important to personal finance. Investment returns. Budget comparisons and adjustments. Salary Analysis. Expenses analysis. All of these areas of finance require the understanding of this calculation. It’s a simple calculation, but indispensable. I use it regularly as a metric in my Balance Sheet and Income … [Read more...] about Basic Math: Percent Change
Archives for February 2024
The Monthly Family Meeting
One of the best ways to make sure a process works well is to set it up so you don’t have to think about it. There were certain things that I felt we needed to do at regular intervals. These varied by the specific tasks. For instance, I don’t need to review my will every month, But I do need to update and review my budget, Balance sheet and income statements every … [Read more...] about The Monthly Family Meeting
Basic Math: The Median
The median is the middle number in a sorted list of numbers. In other words, it is the value that separates the higher half from the lower half in a data sample, population or probability distribution. The benefit of median, particularly versus another type of average such as a mean, is that the median is not skewed by a small number of extremely large or small values. In … [Read more...] about Basic Math: The Median
Personal Finance Habits and Process
I believe that systems beat goals and habits beat checklists. In order to incorporate personal finance consistently into my process, I’ve used a few techniques. One of those is to turn the activities into habits. The other is to tack those onto already existing habits I already perform regularly. … [Read more...] about Personal Finance Habits and Process
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