If you start looking into the topic of personal finance and the savings rate that we discussed you might question how all of this can work. How is it possible to become financially free? Isn’t this concept based on the assumption that nobody else or almost nobody else saves a high percentage of their income?
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In Germany, everybody wants to own a house. Owning your own house or at least apartment is always considered the save bet and what most people invest their money in. People with higher income additionally consider to buy further properties, either apartments or houses that they can rent out to make more money. In general,
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You want to be in control of your personal finances? And you want want to be financially free? Well, then you obviously need to start with an emergency fund. That is at least what most, if not all financial advisors say if you read their books or listen to their talks. So what are these
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A while ago, I bought a single stock as part of my investment portfolio and I thought, hey this is a great stock and totally underrated. Yeah it had a bad reputation at the time and quite some debt connected to it but the company was quite old and in my eyes reliable. They merged
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We are talking a lot about expenses in this blog. So it is definitely interesting to have a look at new purchases in general and more specifically certain very common types of purchases that affect your personal finances. One major purchase that many of you will have is buying a car. There might be many
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Understanding how personal finance works is of course fun and entertaining and teaches us a lot about money in general. But just understanding a topic does not mean that you can also apply your knowledge to your own life. Therefore, you usually do not only have to get the financial knowledge, which you are getting
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One might think, what is so bad about monetary scarcity? What is so bad about having no savings? What is bad about living from paycheck to paycheck? After all, I want to live today and want to spend the money that I have before I die. What is the point of having tons of money
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Buying stuff is fun. Of course it is. But it is not source of happiness. At least it should not be. And if it is a source of happiness for you, maybe it is time to change that. If you want to become a financial unicorn and a real member of the financial unicorns club,
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One difficulty with evaluating the monthly expenses is often cash expenses, meaning stuff you pay cash. If you buy stuff with cash in a supermarket you can of course collect all the receipts and keep them at home in a box. At the end of every month you can then add together all the numbers
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So you have now written down your expenses for the last month according to the last blog post but you are thinking “hey this is a lot of effort, why should I do this nonsense?” The answer is simple and difficult at the same time. Because it is your life, it is your money and
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