Making mistakes is stupid, maybe

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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Everybody wants to be rich and nobody cares about cash flow. Usually discussions about being wealthy, retirement whenever one wants or financial freedom are about overall wealth and never about passive cash flow (= passive income based on dividends). However, in the beginning of the journey to personal financial freedom it is far more important
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I am a big fan of property investments. Especially in Germany properties are highly underrated looking at the global level. Buying houses in Paris easily costs twice of what houses in Munich cost, which means there is still a lot of potential for value increases for the next years. However, I do not have lots
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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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Consumerism is evil. You know this already. Nevertheless, sometimes you have to buy items for everyday life. One of the most expensive items that all of us need today is a smartphone. Of course, the super-savers or so called frugal people will say that it is not true. Nobody needs a smartphone. But let us
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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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So far, we assumed that you have one regular income as an employee. But that is of course very unreliable. It is better to have many sources of income. And it is even better to get money without having to do something for it, also known as passive income. There are basically two different kinds
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We have talked a lot about expenses already and defined the neat KPI L12M_avg_exp. Now we want to go a step further and compare our income and our expenses. To do this, we have to understand income. So what is income? Income is all the money that you get/receive on your bank account on a
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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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