Which exchange rate to use comes down to the job: record a purchase at the amount your bank took, and convert totals at one published daily rate. Tax returns follow your tax authority's rule.
· 4 min read
How to budget for annual expenses comes down to one sum and one decision: add up every bill that comes once a year, divide by 12, and count either the monthly amount or the bill against your budget.
· 3 min read
Here's how to build an emergency fund: set a first target of one month's income, then move a fixed amount to a separate account every payday. On an income of 3,000, saving 150 a month gets you there in 20 months.
· 3 min read
How much money to save before moving out is usually about three times the rent for upfront costs, plus one month of living costs as a buffer. On a rent of 900, that comes to around 4,600.
· 3 min read
What to do with a tax refund depends on what's costing you most: pay down high-interest debt first, then fill your emergency fund, then cover bills you know are coming. Keep about a tenth to spend.
· 3 min read
To recover from holiday spending, add up what's on your cards, pick a payment you can make every month until it's gone, and cut one or two categories in January. On 1,200 at a typical card rate, 200 a month clears it in seven months.
· 3 min read
A three paycheck month happens twice a year if you're paid every two weeks, because 26 paydays don't fit evenly into 12 months. Budget on two paychecks, and the third is free to go to debt or savings.
· 3 min read
How much to keep in checking comes down to one month of bills and spending, plus a cushion of about a week's spending. On 2,400 a month, that's around 2,700, and anything above it belongs in savings.
· 3 min read
How much spending money per month you can allow is what's left after bills, essentials and savings. On take-home pay of 3,000, a 50/30/20 split gives you about 900 for everything you'd call fun.
· 3 min read
Should I save or invest? Save money you'll need within about five years, and consider investing money you won't need for longer, once your costly debt is paid and your emergency fund is full.
· 3 min read
It's better to pay your credit card in full every month, because a balance you carry starts costing interest. On 3,000 at 22.36% a year, paying 300 a month adds about 351 in interest.
· 3 min read
Is a higher exchange rate better? For whoever holds the first currency in the quote, yes: if the euro goes from 1.10 to 1.25 dollars, each euro buys more, which helps euro earners and hurts dollar earners.
· 3 min read
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