What is investing and what does it stand for?
Unless a person is self-taught, is interested in or studies investing, they have no way of knowing what investing stands for and how to invest properly. Finax brings you a basic overview of what investing is and explains why should it be part of everyone's life.
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Emergency fund – the first checkpoint on your savings journey
Unemployment, longer incapacity for work, pandemic, leaking roof, broken car or just unexpectedly high energy arrears. If you don’t want the problems that life brings to get out of hand and require you to take out unnecessary loans, you need to be prepared. The emergency fund serves exactly for this purpose. But how much should you “put aside”? Where should you keep the emergency fund? Is your current bank account sufficient or can you invest it?
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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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COVID-19 will put a strain on our family budgets - how to be prepared
At the point of a massive outbreak of COVID-19 in Europe, we were all focused primarily on our health and ways to effectively protect ourselves from the virus. The initial panic caused by the virus is slowly fading. However, there is yet another threat looming over the economy. How to be financially prepared for the upcoming months?
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5 New Year's wishes of your money
Hello, here we are, your money. Could you please stop for a moment and read what are our New Year's wishes? You've been coughing at us enough. We also want you to take care of us.
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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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