Learn more about moneyandinvestments with this collection
How to make rational decisions
The role of biases in decision-making
The impact of social norms on decision-making
Debt is a liability unless you use it to finance income-generating assets. Don't take on debt for anything that does not increase in value over time.
Suitable forms of debt include buying real estate as a rental property, investing in your business, or a student loan.
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Personal finance is about managing your own money - how much you spend, save, get into debt, and invest.
How you manage your money will depend on your age, education, ambition, family, and country of residence. While this guide will give you enough input to work out a stra...
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Consider where you find yourself as each phase requires a different strategy.
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Three accounts make it easier to get a grip on your finances.
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First manage the money you do have, then use your money to generate more money. You don't need to think about investing until you're out of debt and have multiple ways of generating income.
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It is too risky to rely on one source of income. Try to generate income without trading your time for money.
Ways to generate extra income:
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Assets are anything of value that you own that can be converted into cash. Examples include:
Your...
We must be wise about taking on debt. Like investing, there are rules to it. One thing is sure: Never borrow money to buy a car, electronics, or anything else that goes down in value. But when it comes to more complex things like growing/starting a business, investing in real estate, or ev...
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