Learn more about moneyandinvestments with this collection
Leonardo da Vinci's creative process
How to approach problem-solving like da Vinci
The importance of curiosity and observation
Keep your money in different accounts
To be able to actually save money on a regular basis, you should first make sure that you cannot touch the money that is intended to be saved.
Ensure this is by keeping your money in two different accounts: a checking and a savings one. The accounts should be at different banks, making it more difficult to transfer the money from the savings account to the normal one whenever you feel like buying something that is not really needed.
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Increasing your saving power
One way your savings get to grow really fast is when you receive a lot of money at once. Even though the temptation to go spend everything is bound to appear, you should remember that you have invested all this time into saving for one particular purpose. So why not take this opportunity to help ...
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Setting targets when saving money
Setting reachable goals is always one of the main keys to success, no matter the field.
By setting a reasonable target, as in the amount of money, each month, you are more likely to succeed than you have made up your mind to save more than half of your salary, which is totally unrealistic,...
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Side hustles
Getting a side hustle can only prove beneficial to you, as you will not only save more money, but you will also get the chance to do something different from your everyday job. And if you are not truly passionate about this job, the hustle may be your escape door.
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Saving money
Everybody wants to start saving money as soon as possible. However, quite few people actually do it. This is because saving money implies giving up on the immediate joy that one could feel when purchasing something.
And most of us find it difficult to fight this need to buy on the spot wha...
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Change your focus when saving money
Whenever you try to save money, try focusing on the process itself rather than the final goal. For instance, telling yourself that this is a temporary situation might prove extremely useful and help the time pass faster.
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Myth: Leave Extra Cash in Checking
Leaving money in your checking account might make you spend more than you planned, simply because the money is available. The money in your checking is also not earning any return.
Instead, lessen the temptation. Try budgeting carefully enough and transfer the extr...
What happens to your money
Banks don’t like to give away their money. That mindset is reflected in the interest rates of checking and savings accounts of 0,5% and 0.9% avg. annual interest respectively.
When you deposit your money in the bank, the bank turns around and invests that money at 7% a year or more. ...
Depositing to an Offshore Bank Account
Offshore bank accounts are mostly funded electronically through international wire transfers. The systems that enable free electronic transfers common in domestic banking are typically not able to transfer money internationally.
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