The big goal of reaching financial freedom in 5 years is out there! But what does it exactly mean? How will I know I have reached the goal? Early retirement means having my basic monthly expenses of €1000 covered for the rest of my life. I exclude possible future increases in expenses caused by any exceptional and unforeseeable…
Archives for February 2017
The 13 Worst Investment Mistakes You Can Make
Financial literacy is a life-long process. Along the road to financial freedom, you will have many tempting opportunities to invest and grow your money. Here are a few investment options you should stay clear of: 1. Investing in something you don’t understand Number one mistake tops them all! Don’t get trapped into buying something you…
Personal Finance – Where Do I Even Begin?
The 30 Day Personal Finance Challenge is over. Now what? The first step is the hardest If you feel like you don’t even know where to start you are not alone. Most people are too busy to invest time into a thorough analysis of their finances and putting together an action plan on how to…
13 Things I learned on a 30 Day Challenge
This is post #30 from the 30 Day Personal Finance Challenge: Boost Your Financial Health with a Daily Tip Exactly 30 days I ago I started the Personal Finance Challenge! On one side, I was challenging you to put in shape your finances. On the other side, it was for myself to force me to write a…
Use the Power of the Money Master Mind
This is post #29 from the 30 Day Personal Finance Challenge: Boost Your Financial Health with a Daily Tip! Napoleon Hill introduced the concept of the Mastermind in the early 1900s in his timeless classic Think & Grow Rich. The concept was inspired by Hill’s careful analysis of more than 500 exceedingly wealthy men over a period of 20 years –…
How I Cut My Expenses in Half
This is post #28 from the 30 Day Personal Finance Challenge: Boost Your Financial Health with a Daily Tip! Once I knew how much I spend and for what, I could see what my biggest expenses are. The best way to approach cutting your expenses is to face the biggest pains first and then optimize the rest. My biggest…
Online-Only Banks: What to Look for
This is post #27 from the 30 Day Personal Finance Challenge: Boost Your Financial Health with a Daily Tip! What is an internet-only bank? A bank which offers serves only online. An internet bank provides neither locations that you can visit nor face-to-face interactions with clerks. That’s why it’s so important to conduct thorough research before opening…
Are You Part of the Banking Sector Evolution?
This is post #26 from the 30 Day Personal Finance Challenge: Boost Your Financial Health with a Daily Tip! Do you still pay for having a bank account? Do you still pay for cash withdrawals? Have you overslept the disruption of the banking sector? You might have opened an account a few years back. The conditions might…