8 Critical Personal Finance Numbers You Need to Know
8 Critical Personal Finance Numbers You Need to Know
:Posted at Dinar Recaps Archives on 7/10/2019
Post From Money Saved Is Money Earned
Do you know your financial status?
If not, you’re not alone. A recent Gallup poll found that only 32% of Americans have a household budget.
Furthermore, a recent Bankrate survey found that 55% of Americans don’t think their financial situation will improve this year, with 44% who think their situation will stay the same and another 12% saying they think their situation will get worse.
While you may feel your financial situation won’t improve, you are guaranteeing it won’t improve if you don’t know where you stand or if you’re actively ignoring your finances.
Like any path taken in life, you need to know where you’re starting so you know how far you’ll need to go before you reach your destination.
Every journey has a beginning, and you must know yours.
It’s important to be able to accept the things you did know, didn’t know, or ignored that have impacted your current financial situation. Only then can you build an effective financial plan.
You can start your journey any place or any time, but more importantly, start now.
Here are 8 critical personal finance numbers you need to know no matter where you are on your financial journey.
1. After-Tax Income
The first critical personal finance number you need to know is your after-tax income.
This means you must know what money you’re actually putting in your pocket every month (net) as opposed to your overall income (gross)
For those that are salaried, simply look at your paycheck to see what money you’re taking home every month.
After-tax income will be harder for those with a variable income or who freelance, but close estimations can still be made. Plus, if you’re income is variable it’s important to know how much it varies when making other financial decisions so you don’t overstretch yourself.
Knowing how much money you actually have to allocate is the first step in taking control of your financial situation.
Check out 2018 Tax Changes You Need to Know for more information about tax brackets and other important tax laws.
2. Monthly Expenses
Once you know how much money you have coming in you need to determine how much money you have going out. You also need to make sure you’re covering all your necessities and not overspending for non-essentials.
They only way to truly know what’s going out each month is to build a budget.
Many think of a budget as restrictive, but really it’s simply a way to track what you’re spending each month and on what. Once you know how much money is going out and for what, you can make changes based on your goals if needed.
Even those who have good cash flow must still have a general idea of their budget if they want to maintain their finances. After all, 33% of those making $50k-$100k live paycheck-to-paycheck, and 25% of those making $150k are in the same predicament.
There are five major sections to a basic budget. They are:
Income
Fixed Expenses
Variable Expenses
Debt Payment
Balance
Once you know how much money is coming in and going out each month, you can begin to make goals and to tweak your finances to meet those goals.
To continue reading, please go to the original article at
https://www.moneysavedmoneyearned.com/8-critical-personal-finance-numbers-you-need-to-know/
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
VELOCITY OF MONEY - From Virginia Gentleman
I know I don’t have to state the obvious …GO HAVE FUN WITH SOME OF YOUR NEW FOUND WEALTH. However, I would like to pass on some words of wisdom.
As we get ready to punch it in, please remember to act like you’ve been in the End Zone before. Take a deep breath and exhale slowly as you collect yourself with the full intentions of acting with class and integrity.
Respectful treatment of others will be an inherent responsibility of your new status, as well as respectful treatment of your money and assets. You owe this to yourself, your family, your neighbors, and your heirs.
(Dinar Recaps Note: This post is for informational purposes only. It is not legal, tax or investment advice. Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.) Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records!
Iraqi Dinar Breaking News: How to Prepare for a Last-Minute RV, Go Bag Essentials
Wed. 4-30-2025
The air is thick with anticipation, fueled by whispers and rumors of a potential revaluation (RV) of the Iraqi Dinar (IQD) and Vietnamese Dong (VND).
From Recaps Archive by request……..
Note: All items on the checklist may or may not apply to your own individual circumstances…some of the items listed may or may not still be applicable at your exchange apt....ask your banker at the time of your appointment.
Suggested Bank appointment for Currency EXCHANGE Instructions/Checklist
For your own records
Bank Name_________________________________________
I have________________________ IQN(Iraqi)currency
From Recaps Archives
Keep Believin' In The Unbelievable! by Dr. Dinar
Sheesh. They can put a man on the Moon. Or at least we think they can anyway.
Could've been Hollywood magicification for all we know.
Without a doubt the lighting situation was highly suspect.
But let's go ahead and give 'em the benefit of the doubt, just for the sake of discussion.
From Recaps Archive by request……..
Note: All items on the checklist may or may not apply to your own individual circumstances…some of the items listed may or may not still be applicable at your exchange apt....ask your banker at the time of your appointment.
Bank appointment for Currency EXCHANGE Instructions/Checklist
For your own records
Bank Name_________________________________________
I have________________________ IQN(Iraqi)currency
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
Possible Bank Perks to ask for at your Exchange Appointment .
AUM - Assets Under Management
1. No fees ever for foreign currency exchanges
From Recaps Archives
Services You Get As You Get Richer
1. Housecleaning Services (Your time is worth more than the effort it takes to maintain your living space)
2. Personal Trainer (Reduces stress, improves your health)
3. Personal Chef (Customize your nutrition. Saves time from planning/cooking)
4. Advisors in All Areas (Attorneys, tax planning, estate Planning, etc.)
(Note: This Article can apply to Lotto-Winners, A Big Inheritance and Dinarians!)
This story appears in ESPN The Magazine's Dec. 8 Big Money Issue.
HERE'S A CHALLENGE: Imagine what it feels like to be 21 years old, extremely successful, famously wealthy, wildly stressed and unbearably miserable. How, you might wonder, can all those conditions exist simultaneously?
Start here, with Cowboys All-Pro offensive tackle Tyron Smith, talking to his mother on the phone one day in 2012, his second year in the NFL, during a time of growing tension between him
"We've found a house," Frankie Pinkney told her son.
From Recaps Archive
*A Source Is A Source* By Dr. Dinar
We've all heard the song "Whatever Gets You Thru The Night" by the amazing John Lennon. Combined with the talent of Elton John on backup vocals and piano, that song had all the ingredients, a recipe for a "win" if ever there was one.
After nearly a decade on this journey to the RV/GCR, it's pretty much come down to just that. Whatever it takes to help get you through the night and on to the next day. The next week... the next month.
To simply hang in there, especially during the toughest of times, when hanging in feels like the last thing you have the strength to do. Yet somehow we all have to muster the strength to hang in there and cross that finish line, shoe box full of currency held high.
From Recaps Archives
Note: All Dinarians should read this.....So it will NOT happen to you!
Investorchick at TNT: Lotto Winner Loses It All
I had the pleasure of meeting a very charming senior in the last few weeks. It's my friends mother and this lady is in her 70's.
She won 5 million dollars in the year 2000. I saw a copy of the cheque on the fridge at her son's house. I did a double take because I've never seen a cheque that large.
From Recaps Archives
Keep Believin' In The Unbelievable! by Dr. Dinar
Sheesh. They can put a man on the Moon. Or at least we think they can anyway.
Could've been Hollywood magicification for all we know.
Without a doubt the lighting situation was highly suspect.
But let's go ahead and give 'em the benefit of the doubt, just for the sake of discussion.
DON’T QUIT
When things go wrong as they sometimes will, When the road you’re trudging seems all uphill,
When the funds are low and the debts are high, And you want to smile, but you have to sigh.
When care is pressing you down a bit- Rest, if you must, but don’t quit.
Iraqi Dinar Today Video Update Tuesday AM 5-28-24
WOW JP Morgan Chase Bank & World Trade Organization Approved – 4:40
WOW Its ,Massive New exchange rate Set 3.86$ - 5:11
Chase Bank Wonderful Announcement On IQD New Exchange Rat – 4:48
Congratulations ✅ Revaluation Done Go And Your Dinar & Dong On New Rate – 4:23
Iraqi Dinar Video Update Thursday Evening 5-23-24
PM Of Iraq Announced New Rate – 3:10
Chase Bank Announced About IQD RV - 4:14
Iraqi Dinar International Revaluation - 4:56
Iraq Currency Printed New Notes IQD RV – 4:32
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
From Recaps Archives:
Possible Bank Perks to ask for at your Exchange Appointment .
AUM - Assets Under Management
1. No fees ever for foreign currency exchanges
2. Provide a Private Banker/Wealth Manager at the time of exchange to initially park the funds in an non-interest-bearing account overnight and sweep those funds into other non-interest bearing accounts within your bank the following day; until I meet with bank advisers and other financial professionals and make some general guidelines for the management of these funds and the distribution of a portion of these funds through your bank, trust, and LLCs.
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
Bank appointment for Currency EXCHANGE Instructions/Checklist
Bank Name_________________________________________
Bank 800#__________________________________________
“I am calling to schedule a foreign currency exchange”
My name is___________________________________________
My zipcode is__________________
My e-mail address is (If they ask for it)________________________________
From Recaps Archives
15 Things To Do If You Get Rich All of a Sudden
In this Alux.com video we'll try to answer the following questions:
What should you do if you get rich all of a sudden?
What do to if you inherit money?
How to manage a large sum of money?
What should you do if you get rich?