In last week’s blog post, I shared a number of tips on how to manage the COVID-19 crisis in your personal finances. I had mentioned the emergency fund as an important vehicle in your financial setup to manage unforeseen disasters. Set up the right way, the emergency fund can buffer away risks of intermittent earning and buy you loads of peace of mind. The importance of having an emergency fund has been underlined by the current COVID-19 situation. But how does it really work? What is best practice?
The COVID-19 pandemic and the societal and economic implications have overwhelmed us literally in every part of the world. After securing the health and safety of our families, we will need to look at the financial consequences we will have to manage. Losing jobs or reduced business will probably be the most dramatic impact on individuals and their financial situation. But also significant losses in the capital markets as well as ongoing volatility will impact those with investments. This article therefore gives practical tips on how to manage your personal finances and thus effectively navigate the COVID-19 storm.
One of the reasons for writing this blog has been to disseminate unbiased information about personal finance to an interested audience. I want to share knowledge on personal finance topics and make a difference in the world for those who are struggling with their finances. There would obviously be other sources for this information, e.g., schools – which utterly fail at teaching very practical knowledge on personal finance for a variety of reasons or e.g., banks – which utterly fail to deliver unbiased personal finance information. I want to focus on the latter today and analyze why banks are doing so poorly at catering to their customer needs.
Switching my blog from Germany to English? Really? While this may come as a surprise to many of you, I had pondered about it move for a while. Ultimately, I want to reach an audience as broad and large as possible with my blog. I believe there is a tremendous need for fact-based, unbiased information on personal finance issues. Simply put, I want to better cater to this need in English going forward. Let me thank all of my German-speaking readers for their support to date. While I hope you will continue reading my blog also in English, I look forward to having many new readers join the community.
Today’s article will lay out my reasons for switching the language of my blog from German to English—even adding an additional, English URL to reach this blog: myfinancialfreedom.blog
Jüngst durfte ich in einem Blogbeitrag lesen, dass ein geschätzter Kollege bis zu 15% in Gold und andere Edelmetalle investiert. Davon war ich dann doch überrascht und habe mich entschlossen der Frage, ob Gold nicht doch ein gutes Investment ist, nachzugehen. Der heutige Blogbeitrag kommt, zu einem radikalen Ergebnis: Gold ist gar kein Investment! Mag seltsam bzw. provokant klingen, ist aber ernst gemeint!
Zum Weiterlesen klicke hier!