The vigorous defense of saving is not a doctrine currently imposed. It is not “chic,” because it does not favor consumption, because it does not impose social norms or rules. It is sober. It is revolutionary. It is radical. It simply consists of living the life you want, without impositions. Now, saving seems easy to do. It consists of not spending everything you generate. But when the time comes, it is extraordinarily difficult.
Let me tell you something: One of my father’s nephews recently said, “Uncle, I did everything you asked me to do: I went to university, finished my…
“I will not invest in Bitcoin because it has no supportive evidence,” “Its price does not make sense,” “Bitcoin is a bubble and can explode at any time,” “Bitcoin is not a safe currency,” “Cryptocurrencies are extremely volatile.”
Your perception of insecurity towards Bitcoin is simply because you don’t know how real money works.
And I don’t blame you.
I also had those thoughts until I understood that Bitcoin and dollars are practically the same things.
Did you know that over 600 million people around the world live in extreme poverty and survive on less than $1.90 a day? Shocking right? What’s worse is that in the world we live in today, it has become more and more expensive to be broke, and what I want to do now is share with you seven prime examples of how this is the case!
Debts left unpaid for long periods of time build up interest charges that become massive bills that have to be paid. But many people think a little bit of debt won’t hurt, will it…
I grew up in a middle-class household in Malaysia. Before I was born, my parents saved up money to send me to an exclusive private school.
They weren’t rich, but as “typical” Asian parents, they valued education and made numerous sacrifices to ensure I received what they considered to be an “excellent education.”
As a result, I studied in a private school with an average of 20 students per class, as opposed to most state schools, which had class sizes of between 30 and 40 students.
Being privately educated meant I was mixed in with other middle-class students in a…
When you read literature related to achieving financial independence for a long time, you realize that all those people who have been successful in the economic aspect follow a series of very similar, and sometimes even identical, patterns of behavior.
I intend to explain in a simple way a series of facts that people who are successful in their personal finances do so that you can start to apply them yourself and benefit from them.
As I said, many of the ideas I will present are taken from authors who have achieved financial freedom, and others are taken from people…
It’s no secret that saving is an essential skill when it comes to building wealth. No matter how much money you make, if your spending exceeds your income, you will always remain poor.
I’ve read countless articles that emphasize the importance of saving, but they all gave really generic advice, such as eating out less, spend less on clothes, etc. None of those explain the psychology behind why we spend the way we do.
I hope that the advice you find in this article digs deeper into it so you can apply them in a practical manner to start saving…
If you are like me, then you are looking for ways to build passive income so that you can one day leave your day job. You may already own some rental properties, or you may be thinking about buying some, but you have an idea about how to generate income as a landlord. The tenants pay your rent, and you have to take care of everything else (insurance, taxes, repairs, maintenance, management fees, etc).
But what if I told you that there is a way to make money on real estate without being a landlord?
No toilets to fix, no…
Let me tell you a statistic that blew my mind. Approximately 70% of people who win the lottery go bankrupt within a few years.
Why is this? The vast majority of people purchasing lottery tickets are living paycheck to paycheck. They don’t know how to save or invest a lot of money as they’re not used to having much in their bank account. So as you’d expect, when someone wins a large amount of cash, they often spend every cent as quickly as possible. It’s the only thing they know how to do.
But it doesn’t have to be this…
Young people today need to be a lot smarter with money than past generations.
Credit Suisse's 2021 report on global investment returns paint a bleak picture for the investment prospects of young people today;
Young investors today can expect to earn less than half the annual return that baby boomers enjoyed during their careers.
In a world of record-low interest rates and stretched equity valuations, we can’t expect the same level of investment returns that we have experienced over the past decade to continue in the near future.
In this article, I discuss what the low return environment means for…
In my opinion, the best personal finance podcast around is the “Rational Reminder.”
If you love evidence-based financial discussions (no “hype” or BS) I can’t recommend it highly enough.
And no, I have no affiliation with this podcast. The hosts have no idea who I am, it just happens to be my favorite podcast I am listening to in 2021.
Check it out here: