My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.


By Topics

Overall:
0. About (10)
1. My Progress (139)
2. Car & Home (107)
3. Credit (138)
4. Banking (33)
5. Saving (49)
6. Investing (308)
7. Taxes (89)
8. Spending (74)
9. Misc (97)
A. Archive (49)



MONTHLY ARCHIVE

Feb 2014 (3)
Jan 2014 (6)
Jan 2012 (1)
Apr 2011 (1)
Mar 2011 (1)
Feb 2011 (1)
Jan 2011 (1)
Dec 2010 (1)
Oct 2010 (1)
Sep 2010 (1)
Aug 2010 (1)
Jul 2010 (1)
Jun 2010 (1)
May 2010 (1)
Apr 2010 (1)
Mar 2010 (6)
Feb 2010 (2)
Jan 2010 (7)
Dec 2009 (3)
Feb 2009 (4)
Jan 2009 (8)
Dec 2008 (1)
Jun 2008 (2)
May 2008 (2)
Apr 2008 (5)
Feb 2008 (3)
Jan 2008 (15)
Dec 2007 (32)
Nov 2007 (6)
Oct 2007 (8)
Sep 2007 (9)
Aug 2007 (24)
Jul 2007 (2)
Jun 2007 (1)
May 2007 (3)
Apr 2007 (4)
Mar 2007 (4)
Feb 2007 (13)
Jan 2007 (6)
Dec 2006 (3)
Nov 2006 (7)
Oct 2006 (7)
Sep 2006 (6)
Aug 2006 (4)
Jul 2006 (10)
Jun 2006 (1)
May 2006 (3)
Apr 2006 (2)
Mar 2006 (6)
Feb 2006 (6)
Jan 2006 (3)
Dec 2005 (1)
Nov 2005 (9)
Oct 2005 (8)
Sep 2005 (13)
Aug 2005 (25)
Jul 2005 (16)
Jun 2005 (17)
May 2005 (19)
Apr 2005 (20)
Mar 2005 (24)
Feb 2005 (23)
Jan 2005 (36)
Dec 2004 (40)
Nov 2004 (34)
Oct 2004 (17)
Sep 2004 (21)
Aug 2004 (59)
Jul 2004 (37)
Jun 2004 (31)
May 2004 (29)
Apr 2004 (52)
Mar 2004 (49)
Feb 2004 (49)
Jan 2004 (31)
Dec 2003 (48)
Nov 2003 (52)
Oct 2003 (29)
Sep 2003 (8)
Aug 2003 (5)
Jul 2003 (2)
Jun 2003 (2)
May 2003 (5)
Apr 2003 (2)
Mar 2003 (2)
Feb 2003 (3)
Jan 2003 (29)



 

Running Household Finance As A Business, The Introduction

Contributed by mm | March 9, 2007 11:06 AM PST

In my daily job, I navigate different avenues of corporate finance and manage hundreds of millions dollar of annual budget. Outside of work, I read and research extensively about personal finance and play with my gold pot that will hopefully reach 7 figures in a couple of years. Corporate finance and personal finance by definition are very different disciplines, but they are also similar in some key concepts. In fact, I found it is interesting to examine our household finance under the corporate finance microscope.

So here comes this series, in which I attempt to look at our family finance in the light of corporate finance.

INTRODUCTION TO BUSINESS

MM Household is a multi-national holding company that extends across a number of different business lines. At this moment, it includes four 100%-owned subsidiaries:

Money Manager Co. offers first-class corporate finance controllership service, people management and finance professional development courses. Currently we are dedicating our resource to support the Asia Pacific operation of a Fortune 50 company in the IT industry.

Perfect Future Publishing Co. was started in 2003 to offer free personal finance tips, independent reviews and experience sharing online in the U.S. market. Perfect Future Publishing Co. is supported by advertising revenue.

Expat Service Co. is our newest subsidiary that just started in late 2006. It partners with global relocation management companies to offer leading destination services and cross cultural training to expatriate families relocated to China.

Value Invest Co. is the investment arm of MM Household that engages in a number of investing opportunities to seek maximum return of the company's financial assets.

Next: The Cash Flow Chart of MM Household.

This Post Has Received 5 Comments. Share Your Opinions Too.


CPA1298 Commented on March 10, 2007

MM - I like where you're going with this post. However, I'm confused about the 'subsidiaries'; which of these are actually entities you've incorporated? I know you've incorporated some of your side businesses, but which ones?


MM Commented on March 10, 2007

I would consider the subsidiaries mentioned above more like different business segments. They do not have to be a separate business entity.

Having said that, I did try to incorporate the Publishing Co., but the mounting foreign tax credit on my personal 1040 actually encourages me to keep it as a sole proprietorship.)


LatinGuy Commented on March 18, 2007

Aha! For the record, I guess it was the first time that you revealed details about your new sideline business! As a long time reader, I think it does make all the sense to invest in something that you & your wife may thrive at (helping U.S. expats in China). As always, congrats and success going forward.


Michael Halls-Moore Commented on April 12, 2007

It's great having a business running at home. In the UK we can get tax benefits as long as certain areas of our house are declared as use solely for work. I assume there is something similar over in the US?

This is a bit of a minefield, but with an accountant it can have a major gain (especially for me as I'm a web developer and do a LOT of work at home!).


Arusn Commented on April 18, 2008

Corporate finance and personal finance by definition are very different disciplines, but they are also similar in some key concepts.


Add Your Comments










Remember personal information?




(It will take a few moments for your comment to be published. Please do not close the window until then.)


Read More ... 139 Posts In The Same Category










This page was last rebuilt at February 09, 2014 08:17 AM PST. (273 Words)
 

RSS FEED





PERSONAL FINANCE BLOGS I READ

Consumerism Commentary
Get Rich Slowly
My Money Blog
All Financial Matters
The Simple Dollar






.



Copyright 2003-2014, PFBlog.com. All Rights Reserved. (Privacy Policy)