Financing a real estate purchase
In recent years, the National Bank of Slovakia has taken several measures in order to mitigate the risks associated with the rapid growth of Slovak household indebtedness. Easily available 100% mortgages are a thing of the past. If you want to live on your own today, in addition to rising real estate prices, you also have to deal with several banks’ requirements.
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Buying or renting - what is more worthwhile?
Securing a housing is one of the largest budget items for most people. If you are not one of the lucky ones who have acquired their own housing almost for free during the housing fund privatization in the 90s or by inheritance, you basically have two options – housing in a rental or “in your own”, i.e. with the burden of a mortgage. But what is more favourable? Is it better to be indebted for decades or to make use of the flexibility and carelessness a life in a rental has to offer?
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High fees are one of your biggest expenses
If your bank or your portfolio manager issued an invoice on tens of thousands of euros, you would think, that it must be some kind of a bad joke. It might sound ridiculous, but it is happening every single day and even without “the invoice“. Overpriced financial products are hindering better future for thousands of people.
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Emergency Fund: In Good and Bad Times
Job loss, prolonged sick leave, leaking roof, broken car, or unexpectedly high utility bills. To prevent such problems from spiraling out of control and necessitating expensive loans, you need to be prepared for them. An emergency fund serves exactly this purpose. How much should you set aside and where to keep the fund? Find out in our blog.
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Financial Freedom - How to Retire Young and Wealthy
Personal finance discussions in Central Europe are often centered around attempts to teach people to save and invest at least a small percentage of their incomes. In the meantime, a different trend is taking off in the West. An increasing number of individuals are setting aside a majority of their earnings in pursuit of financial freedom. Beyond acquiring material possessions, money can buy you something even more precious – freedom.
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How to Free Up Money for Investing?
In Finax, we believe that investing should be a normal part of everyone's life. However, people often try to persuade us that although they know about the importance of investing, their budgets simply have no extra space for it. So far, no one has managed to convince us that this was actually the case. Whether you earn thousands of euros per month or the minimum wage, you can always free up some funds for investing. Disagree? Read on, you may be pleasantly surprised.
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