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12 Steps to Financial Freedom and Personal Finance Success

Welcome to Moolanomy. You’ve just found a road map to help you improve your finances and change life! I have been managing my own finances since I gradated from college in 1995. Through the course of the years, I have done many things right and I also made plenty of mistakes along the way. My … Read more12 Steps to Financial Freedom and Personal Finance Success

Should You Refinance Your Mortgage? Refinancing Pros and Cons

Should you refinance your mortgage? The general rule of thumb is if you can reduce your current interest rate by 1% or more, it is worth it to do a mortgage refinance. And many people are happy to follow this rule as long as it lowers their monthly payment or lets them take out some … Read moreShould You Refinance Your Mortgage? Refinancing Pros and Cons

Renting vs Buying – Should You Rent or Buy Your Home?

As a Realtor, I have dissuaded potential home buyers from buying more than once. Yes, it is not good for my pocketbook, but it is the right thing to do. If you’re in the financial and credit position to buy a house, buying may still not be the right thing for you (see below). For … Read moreRenting vs Buying – Should You Rent or Buy Your Home?

Budgeting: When You Track It, You Get Better at It

While you would be shocked to hear of a business running their operations without a corporate budget or the ability to account for how much is spent on marketing versus how much is spent on utilities, we live our lives in just that way. We don’t how much we spend on groceries, eating out, or … Read moreBudgeting: When You Track It, You Get Better at It

Top 10 Tax Deductions for Rental Property Owners

When you own rental property you are essentially running a small business. Here are 10 primary tax deductions for rental property owners that you can use to reduce your rental income for income tax purposes. 1. Mortgage Interest Just as you would report your mortgage interest on your primary residence on Scheduled A of your … Read moreTop 10 Tax Deductions for Rental Property Owners