The concept of compound interest. When I was a teenager I worked at a couple of jobs. They paid minimum wage but I did, in total, around 150 hours per month (I didn’t spend much time in school…). So considering the fact that my only cost was my mobile phone bill (and keep in mindContinue reading “What do you wish you had known when you were younger about savings and investments, that you now know?”
Tag Archives: Personal Finance
Is it possible to save most of the money you earn by living in a frugal way?
Yes, it is possible, and many financial advisors and personal finance blogs will advise you to do so. However, my belief is that for most people, that’s setting them up for failure. Most people lack the discipline, the vision and/or the will to go through the “financial diet” required to get from a position ofContinue reading “Is it possible to save most of the money you earn by living in a frugal way?”
What mistake did you make that lost you a lot of money?
About 18 months ago my wife and I adopted an amazing 7 year old girl. Until she moved in with us, I commuted to work by bus – I work in a city about 50 miles away from where we live so the commute took about 2 hours door to door. Once she moved inContinue reading “What mistake did you make that lost you a lot of money?”
What are the ten most important things about personal finance that everyone must know?
In your personal life, there is no such thing as good debt There’s this myth that some debt is “good” because it’s used for growth. The truth is that even when people take out loans with the intention of using it as an investment, they usually cannot resist the temptation to use it for consumption.Continue reading “What are the ten most important things about personal finance that everyone must know?”
What is the best financial advice you can give someone making £25k per year?
I was there not too long ago, I made even less than that as a trainee accountant after moving to the UK. What you should be doing is first of all live within your means. Live in the least expensive property that you can. If you can live without a car – do it. SearchContinue reading “What is the best financial advice you can give someone making £25k per year?”
How can you make better financial decisions?
The past few months have really pulled the rug under many people’s feet. People who had their 9-5, felt safe with a steady, predictable income coming into their bank account every month, and felt that they had life figured out. But then the lockdowns happened, and you might be one of the millions of peopleContinue reading “How can you make better financial decisions?”
Why do I spend so much money, especially when I am consciously trying to save?
Why trying to budget is a lot like a diet
What is the best way to get financially educated? I want to learn how to budget and grow money to buy a house in the next 3-5 years?
The first thing you need to do is go over your monthly expenses and find “easy wins” – large expenses that you can reduce substantially without too much of an impact on your lifestyle (utilities and tv/broadband are a good place to start). Once you’ve done that, start thinking about the other side of thisContinue reading “What is the best way to get financially educated? I want to learn how to budget and grow money to buy a house in the next 3-5 years?”
How can I grow my money while living paycheck to paycheck?
Is a Diet Mindset the best way to save money?
Are People Who Don’t Have Children Financially Better Off Than Parents
Obviously, the answer is yes. There is no way to justify having children from a financial perspective, unless you’re going to monetise those children in some way. Some people do that, honestly I find that sick. But the question is what do you want from this life. We only have, if we’re lucky, 80 or 90 yearsContinue reading “Are People Who Don’t Have Children Financially Better Off Than Parents”
Human Action 