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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