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Category: Personal Finance

Your car is not an investment!

I’ve pretty much learned my lesson about depreciation with my first car. I’ve bought it new and after 6 years I donated it to my father, mostly because it lacked AC and engine power. Because it was an affordable cheap car, I gave it everything to keep it in tip-top condition, but didn’t “invest” in improvements. I didn’t track every penny spent on that car, but the values returned by the Car Running Costs Calculator alone hurt. A lot. Continue reading Your car is not an investment!

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Personal finance – we’re doing it all wrong

To be honest, I did not hear about personal financing until I started working. I had some idea about saving, because I’ve always been saving for something when I was a child: a new bike, a new computer or after I have turned 18, a car. But I shouldn’t be surprised, since in this corner of the world only a few people have some financial education and the chances that you have such a person in your circles who could act as a role model in this area are very low. Unfortunately in our country most people don’t trust the banks (which is not necessarily a bad thing) and instead of creating deposits, they hide their money under their mattresses. A lot of people only use their cards to withdraw money from the ATM and still use cash when paying in supermarkets.

Continue reading Personal finance – we’re doing it all wrong

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