Hello there good reader! I’m proud to announce that I have re-branded my site. No longer are we Personal Profit. We are now The Mindful Money Project! Why have I made the change? There were a few reasons why I made the change, other than being chronically indecisive! 1. Blogs in the same space with …
Personal Profit is now The Mindful Money Project! Read More »
Understanding the difference between the two is important, especially when you’re trying to improve your personal financial situation. Ever heard the story of the janitor who surprised everyone when he died by leaving $5 million to his local library? Or the story of the famous athletes who earned multiple millions a year filing for bankruptcy? …
What is the difference between income and wealth? And why you should care! Read More »
At its core, your savings rate is a fairly simple mathematical expression which is your personal profit divided by your income. In this article we’ll take it deeper and walk you through exactly how to calculate your savings rate so that you can be confident you’ve calculated it correctly. What is a savings rate? In …
How To Calculate Your Savings Rate (Your Personal Profit!) Read More »
A profit and loss statement is how a company keeps track of all of its income and all of its expenses. It allows the management and owners to understand whether it is making money, a profit, or whether it is losing money, a loss. A personal profit is the same concept, applied to a person’s …
