Side hustles are works you do to earn extra income besides your job. It could be something you work for and deliver value to other people and get paid. Side hustles can be walking dogs, babysitting, delivering homemade meals, and so on.
Side hustles can also be a side business you are building and selling online. For example digital products, online courses, or building websites for others.
Nearly 25% of Americans do not have emergency funds. And if you ask if they can cover a $400 unexpected expenses, 59% of Americans said they could not, they have to either borrow from someone or sell something.
According to the trinity study, based on the 4% rule, you can calculate your FIRE number by
Financial Independence Number = yearly living expense x 25
If you withdraw 4% of your total asset annually, it will be sufficient for you to live while still preserving your wealth because your investment return is expected to be at least 4% per year. If you want to learn more about how this works, you can read my article <Do This To Retire Early>.
As you can imagine, the lower your yearly and monthly living expense is, the smaller your FI number will…
In our Fast Track Money weekly YouTube live session, I asked Financial Imagineer several questions about the lease and buy. It is interesting to reflect ourselves what is our motivation to own a car. If you really need one, how you can find the most value-for-money option.
One book from Cal Newport I really like is <So Good They Can’t Ignore You>. This book left me a great impression so I am eager to read another well-known book from Cal Newport — Deep Work.
In countries where renting is a popular choice, the majority will live in a rental apartment or house lifelong. There is the stability of rental expenses and lease period. For example, around 60% of the population rent in Switzerland, so 40% own homes. However, around 91% of the population own homes in Singapore. The big difference is a result of the cost of owning vs. the cost of renting.
Besides the purchase price, the costs (and savings) associated with owning a property are
If you have not yet been to China, the chance that you have heard of or event tasted Baijiu is close to ZERO. Because each year 17 billion liters of baijiu produced every year, only 20,000 liters are exported from its native China, according to the country’s National Information Centre of Customs General Administration. You might have not heard of it, but its importance is not negligible.
Kweichow Moutai is the largest producer of baijiu and the world’s most valuable liquor company — with a market capitalization of more than $145 billion. While Diageo, a British company that owns some…
I am used to the zero-fee cards in Singapore, where you can apply for debit cards and credit cards paying zero fees. Once you used the card enough, you can apply for the fee waiver. It is very easy to exceed the amount you need to spend on the card, practically it is for free every year. For debit cards, as long as you have a low minimum balance, the monthly fee is waived. When I moved to Switzerland, I was shocked that the bank fees are so high.
You can start investing as little as $1. You do not have to have a lot of money to participate in the wins of companies. In the past, due to limited accessibility and high entry barrier, people need to put down some amount to buy shares. But now, with the technology and mobile devices, anyone can download apps such as Interactive Brokers or Trading212 to start investing with a little as $1. What is even better, if you register Trading212 using this link, and/or use code FMXbdHfCafter depositing some money, you will receive a free share. Voila, without even trading…