EA vs CPA: Salary, Growth and More

Many students who are about to graduate from college with a 4 year degree in accounting wonder whether they should choose to become a CPA or perhaps a EA. You would want to carefully consider all options before you, reach a decision – and then stand by it until you achieve your lofty goals. Both […]

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How can learning about finances change your life?


Not everyone is aware that learning about finances can change your life. They don’t know that being in control of your incomings and outgoings has the potential to make your life so much better.

Take me for example, 4 years ago I was struggling to make ends meet. I had a decent income, the average amount of outgoings, but I wasn’t in control of my finances.
Fast forward 4 years, and I can tell you exactly what I have in my account, what’s coming out over the next few days, and how much money I can spend on my day trip next week.

I managed to get where I am today, by working out my income and outgoings, and keeping a track of them every week. Let’s now take a closer look at how learning about your finances can change your life:

Take a look at what you’re paying for

Have a look at what you’re paying for. You are likely to be paying for regular and essential household bills, such as a mortgage, rent, insurance, energy, water and so on.

Now you’ve looked at those bills, you will also need to consider the ‘Non-essentials’. These are bills that you don’t need to have, such as TV subscriptions that you don’t really use, or that gym membership you never got ’round to cancelling. You may also want to switch from a cell phone bill that you pay monthly, to one that lets you add credit when you can. I know we can get used to paying out for these luxuries, but if you cannot afford them, they are doing you no good whatsoever. Start cutting down on these luxuries and make do without them. The money that you’ll save can be spent elsewhere, or you may want to put it in a savings account.

Start saving

Knowing how and when to save money could potentially mean that you have access to cash should you need it. Right now, I have enough money to put down a deposit for a house, and pay the first months’ rent or mortgage. This is because I have saved when I could, but it’s not to say that I haven’t enjoyed myself. I’ve still been able to go on vacation, and for nights out at the movie theater.

Saving just a little bit of cash each month can help if an unexpected bill comes along, or if you need the cash for whatever reason. You may not be able to save a lot each month, but it will all add up eventually, and that’s never a bad thing.

Pay more than the minimum amount on your credit card

I used to get by with paying the $5 minimum on my credit card, then I decided that I would double it thanks to the cash that I saved by budgeting. This meant that I was able to pay off my credit card a lot quicker, and I didn’t have to pay so much interest either. If you cannot afford to double the amount that you pay, add an extra dollar on top instead. $6 instead of $5 will still help you pay it off quicker, and you’ll be glad that you did when you get a credit card bill that says “Amount due: $0.00”.

Take a look at your budget at least once every six months

This is important as the amount of money coming in and going out can change. If you get a new job and you now earn more than you used to, you can afford a few more luxuries each month. Alternatively, you may want to save more, or pay off your credit card bill or loan a little quicker. Learning to take a look at your budget at least once every six months can ensure that you stay on top of your finances, and you won’t go overdrawn.

Know where you can make cuts where you need to

I know that right now, I could end my TV subscription, and visit my favorite place to eat a lot less than I do right now. I have already decided where I could make those cuts so that if and when the time comes, I can pull the plug on them and have the cash that I need.

Knowing where your finances are, and how to deal with them can change your life. You will be able to deal with your debt in a more constructive way, and ‘Balance the books’ so to speak, at least once a month. People who know how to budget, and what they can and can’t spend, are less likely to make bad financial decisions. They are more likely to save money, and therefore have a little bit to hand should they need to.

Learn how to budget, and let the process of controlling your finances make your life so much better.

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5 Tips For Doing Well On Your CMA Exams

It is important for an individual who is aspiring to pass the CMA exams to enroll in an online review course which has a fast pacing and a lively training environment. Also, you need to make sure there are updates which are regularly provided by the course. The information and data which you can acquire […]

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CPA License or Certificate?

I wrote about the CPA requirements in California as this is the state I went through myself, and also for 15% of CPA candidates every year. You may have notice that besides the exam requirements (involving only in education), there are additional rules on satisfying the working experience requirement. I found a lot of such […]

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CA CPA Exam Requirements

*IMPORTANT NOTE* This page contains information on the OLD California CPA exam requirements. This is only good for candidates who passed the CPA exam before 2014 and are ready to get the license can use the information below. Please get an update from the California State Board of Accountancy directly. CA CPA Exam Requirements Fulfilling […]

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