5 Steps to Take to Get Your Finances in Shape
The summer season, which often leaves both our minds and wallets spinning, has finally come to an end. How can you treat yourself without straining the family budget? This article discusses some specific steps you can take.
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Finax Financial Wellness – A Unique Employee Benefit
At Finax, we believe that having your personal finance in order is one of the core criteria for leading a comfortable life. However, only a few care about their future to such an extent that they’d be willing to sacrifice time spent with family or leisure activities to gain extensive financial education. Therefore, we’ve decided to introduce it directly within companies.
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Are you in debt? You don’t have much time left
Slovaks apparently like living on debt. However, the era of cheap money is definitely over.
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Do You Want to Get Rich? Invest Long-Term
Warren Buffett, one of the richest people in the world, bought his first stocks at the age of 11 and continues to buy them even today. At the same time, he says: "I regret that I did not start investing earlier". Buffett's path to wealth is the embodiment of the compound interest principle. In fact, he earned 99% of his fortune after the age of 50.
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Are you prepared to live 20 years without a salary?
Pensions are not something that is discussed over a beer in Slovakia. However, it is a subject we cannot afford to ignore, as this period represents approximately a fifth of our lives. How much money will I receive during retirement? And will it be possible to make a decent living from this amount? Will I be able to reach the retirement age at all? These are the questions that will sooner or later begin to bother each and every one of us.
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Real estate is thought to be the best long-term investment. Is it?
In past blogs, we have already explained why investing in real estate is not worth it compared to equities. However, prices of flats and houses have been regularly hitting new highs since then, and even last year's survey by Slovenská sporiteľňa showed that more Slovaks still prefer real estate to securities. That's why we bring you an updated comparison, in which we answer whether real estate is still (not) worth it.
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10 cases when you should not leave your savings lie in the bank
Did you know that the ECB deposit rate is at one of its highest levels since the euro was created? The current market environment offers a wealth of opportunities to capitalise on short-term savings with minimal risk. Unfortunately, attractive market yields will elude the 27 billion that Slovaks hold in current accounts. Does this statistic happen to apply to your money as well?
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Book review: Your Money or Your Life
Financial Independence, Retire Early (FIRE) has become a goal of many people in recent years. The idea of early retirement and having free time certainly sounds better than living in a predetermined way: 40 years of work and surviving in retirement. Today, we will have a look at a genre classic from 1992 - Your Money or Your Life written by Vicki Robin and Joe Dominguez, which represents the beginning of the FIRE movement.
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