There are many personal finance myths out there. And many people believe in these myths very strongly. Basing your decisions on myths can do a lot of damage to your finances.
For instance, many people believe only the rich can invest in the stock market. It is just a myth. Anybody can invest in the stock market. And many personal finance myths like this are being propagated.
Many of these personal finance myths can be detrimental to your finances. Some will not make significant impacts. But some could ruin your retirement plans.
Without further ado, here are ten personal finance myths that you should learn to ignore.
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In November 2019, we did very few special things. It was a quiet month. But it was still a good month. And it was a great month for our finances.
I spent a few days in Berlin for work for a conference. It was a good conference. Since it was paid by my company, it did not make big differences in our budget.
We still spent more than 5000 CHF this month. But we managed to save more than 50% of our income anyway. So this is not a bad month!
So, let’s see what happened to us during the month of November 2019.
Continue reading “November 2019 – Flights to China”
It is great to travel abroad. You get to discover a new country and culture. However, it can get expensive. So, if you plan on traveling abroad, you need to think of ways to save money. There are tips to save money when you travel abroad. You need to take advantage of them.
I want to talk about all the ways we have used to save money when we travel. And many of these tips can help you save a lot of money. And you will not need hours to apply them.
I am going to focus on things you can do when you travel abroad. But you can also use most of these tips when you travel to your own country.
Without further ado, let’s see 9 Tips to save money when you travel abroad!
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Today’s post is a guest post by Financial Wolves, a blog about making money with side hustles to help you achieve financial freedom. I am very happy to have them as a guest poster today.
Most people hear the phrase “personal finance” and run the other way. However, personal finance is not something to be scared or nervous about. About 50% of all American households live paycheck to paycheck.
At the same time, only 30% of them have long-term financial plans. Therefore, learning money management tips is more important now than ever.
Without proper money management, you are risking your finances. Being smart about personal finance means you are prepared when life throws you curveballs.
Let’s say you are fired or going through health problems.
If you did not have the foresight to plan your finances, what are you going to do? Money management is a vital part of financial planning. If you do not know how to go about it, read on for some easy money management tips.
Continue reading “8 Money Management Tips That Will Free Up Time”
Did you know that one-third of the world food production goes to waste? It is just insane! Do you wish there was a way to fight this? Well, there is: It is Too Good To Go.
Too Good To Go is a service that lets connects business and people to fight food waste. Instead of throwing their unsold products at the end of the day, businesses can sell them to people. They offer a mobile application to do that.
I think this is an awesome concept. It can prevent a lot of food from being wasted. I hope this thing starts getting more popular and continue expanding!
We used this service three times. Find out about our experience!
Continue reading “Fight Food Waste with Too Good To Go”
Everybody will make some mistakes in his life. There is no way around it. Over the years, I made many investing mistakes.
One thing that is very important with mistakes is that you learn from them. Not only should you not repeat your mistakes. But you should also improve your knowledge after you have made this mistake. You need to understand why this was a mistake and how not to do it again.
It is crucial to learn from your mistakes. And it is also essential to recognize your mistakes. There is no value in thinking you cannot make mistakes. And there is no value in ignoring them. I am not very proud of my investing mistakes. But it is better to talk about them than ignore them! And people can learn a lot from the mistakes of other people.
In this post, I will talk about my eleven biggest investing mistakes and what I could have done better. It is also the story of how I got into investing early and left very early. And finally started investing again way too late!
Continue reading “My 11 Biggest Investing Mistakes – How to Avoid Them!”
To choose a safe withdrawal rate, you need to know its chances of success. For that, you can use historical data from the stock market. This lets you see the chance of success for each withdrawal rate. Today, I am making this easier for everybody with a free FIRE Calculator!
Recently, I have been playing a lot with Withdrawal Rates simulations. I am using a lot of data from the U.S. stock market to see which withdrawal rates are safe and which are not.
I have written a tool that can do the simulations for me. I have already released some results with this data.
Today, I am going to share a Withdrawal Rate Calculator that you can use to do the simulations for yourself. And I am also going to share the data and the tool I am using!
You can use this calculator to know which withdrawal rate you should be using. You can tailor the simulation to your situation.
Continue reading “A Free FIRE Calculator – Find your chance of success”
Today, I want to introduce the first interview in my new series: Frugal Living in Switzerland! In this series, I am going to interview that manage to live frugally in Switzerland.
Switzerland is one of the most expensive countries in the world. Many people think we cannot live frugally in such a country. I want to prove them wrong.
And today, to prove that we can live frugally in Switzerland, I interview Janet, a good blogger friend. She saves more than 60% of her income, as a student!
Continue reading “Frugal Living in Switzerland Interview 1 – Janet”
Today, we are going to talk about the Efficient Market Hypothesis (EMH)? Have you ever heard about EMH? Do you what it is?
Behind this complicated name hides a simple hypothesis. It says that the market is very efficient. So the stock prices reflect all available information. It means that stocks always trade at a fair value.
The Efficient Market Hypothesis is an interesting hypothesis. It is also very controversial. Based on whether it is true or not can profoundly change the way you are investing. This hypothesis has many implications, as we are going to see in this article.
So, let’s delve into exactly what this hypothesis is about.
Continue reading “What is the Efficient Market Hypothesis (EMH)?”
October 2019 started with our vacations in Barcelona. We spent six great days in this lovely city. It was a perfect trip!
Of course, with the vacation, our budget suffered a bit. But we still managed to save a substantial portion of our income. So, I am not going to complain, this time!
Even though we spent more than 5000 CHF this month, we still saved more than 50% of our income. I am getting happy about the state of our finances. And our goals are also going great!
So, let’s see everything that happened to us and our finances during this month.
Continue reading “October 2019 – Holidays”