Your Personal Finance Wizard
This section of Personal Finance Whizz is dedicated to budgeting. So, it includes budget rules, how to create and implement a personal budget, budgeting tips, calculators, and increasing your income with side hustles.
For converting your monthly salary to hourly, divide your salary by the number of hours you worked in a month. Not sure whether you are getting a fair wage or not? Then a monthly salary to hourly calculator can help. Because it gives you a clear understanding of how much your time is worth and … Read more
To calculate hourly to yearly salary, first multiply your hourly wage, work hours per week, and weeks worked per year. In case you get paid hourly then getting your tax done or setting up financial goals can be tough. Because you don’t know your exact yearly salary. But don’t you worry. In this post, I … Read more
To Convert hourly to monthly pay, you need to multiply hourly wage with daily work hours and days worked in a month. In case you get paid based on hours then budgeting can be tough. As you don’t know how much your earn monthly. So, it’s hard to set up a budget and fulfill your … Read more
Renting when retired gives you flexibility, convenience, and liquidity while saving you a lot on mortgage payments, property insurance, property tax, and maintenance cost. In a hurry?Listen to this audio summary Owning a home in retirement might seem a better option to most than renting when retired. However, retirement brings both lifestyle and financial changes. … Read more
It is advised to spend 25-30% of your salary on rent. This indicates on a $60k salary you should spend $1250-$1500 on rent. However, the real-world situation is much different. Moreover, how much rent can i afford on 60k will largely depend on many other financial factors. So, in this post, I am going to … Read more
The Money Purchase Pension Plan is an employer-sponsored defined contribution pension plan. It’s a tax-deferred plan and you will have guaranteed retirement income. Joined a company that offers Money Purchase Pension Plan? Then this post is entirely for you. Because in this in-depth guideline on the money purchase plan, I am going to cover what … Read more
Yes, it’s possible to make money on twitch by being a partner or an affiliate. Moreover, you can also earn by getting Patreon subscribers and selling merchandise on twitch. If you are a gamer then you must have heard, “Gaming won’t bring you any money?” Well, it’s time to prove them wrong. Because you can … Read more
Cash Stuffing is the process of keeping your monthly expenses in envelopes according to your spending categories. This budgeting method promotes cash instead of debit or credit cards. A few months back I found out about the gen z cash-stuffing trend on Tik Tok. I thought of it as another illogical trend. But little did … Read more
You will get a minimum social security benefit if you have earned 40 social security credits in 10 years. However, it’s hard to tell an exact number as social security benefits are calculated based on your highest 35 years of income. Social security benefits are a great inflation-adjusted social insurance system for retirees. However, it … Read more
In case you are retiring with a pension and social security only then you must consider whether you can receive both or not, will you get full social security or not, can WEP affect your social security, will your pension reduce social security benefits, and many more. Retiring with a pension and social security only? … Read more
