Never buy a new car

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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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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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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In the first blog posts I described how you can assess your expenses. You simply added together your expenses for each month and wrote them down. Starting with the first month. So let us say you did this now for several months and you got something like this: March (last year) = 2345 EURApril (last
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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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I am aware of my expenses and income and write it down at least monthly. I dont need to write down anything, I have everything in my head. I dont care about money. It is just a means to an end. If the first sentence describes you then you already achieved the first step to
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