All posts filed under: earn&spend

Men's Individual Fashion

Men’s Wardrobe Planning Guide – Spend Less, Look Fashionable

Published by Anna Kazakova

The clothing market is huge! There are roughly 7.1 billion people on this planet who own at least one pair of jeans and a T-shirt. Now, go to your wardrobe and tell me how many pairs of jeans you have…. Do you wear all of them? The issue we have here is that women usually have “nothing to wear” and men don’t know “what they’re wearing.” This leads me to believe that most of us have too much in our wardrobes or too little of the “right” clothes. Either way, there is a solution to getting the most out of what we wear and how to wear it. I decided to talk to Christian Frosch, founder of Men’s Individual Fashion, regarding men’s wardrobe planning. Here’s what his guidance on this matter. SHOES Shoes are the basis of an outfit, both physically and in appearance. Never try to save money on shoes, make it an investment instead. Go for Goodyear welted shoes—and properly take care of them. Remember, good shoes will cost you more, but in the …

How to Begin Saving Money

Published by Anna Kazakova

I love investments and I consider myself lucky to find pleasure in it. It’s funny when my boyfriend Robin tries to make heads or tails of all the “financial stuff” I talk about. But at least I know he’s a good listener. The other day he asked me about investment opportunities and how to save to invest. Unfortunately, the  Millennial or Generation Y (Robin and I are contemporaries) framework of spending behaviour  leads us down a path of over consuming and spending money that didn’t exist. So, to spend less we need to change our life-style from consumers to…. something else. We need to change our routines and habits, and that’s the difficult part. The most over-consumed products for young professionals living in cities are clothing and restaurant food (Read more about other most popular spending accounts here). So, changing our life-style and spending habits means buying less of both. But, be prepared to feel a strong sense of emptiness. The power of spending is strong and when it disappears, desolation takes over. Get creative …

Financially Fearless

Published by Anna Kazakova

I have a recommendation for a useful, smart and long-rewarding present: a financial education book titled Financially Fearless: The LearnVest Program for Taking Control of your Money (published 31 December 2013) written by the young and inspiring Alexa von Tobel. This book makes a great Christmas present (or a gift for any occasion) that a parent can give to their child 18 – 26 years old (more financial education books to choose). But really, how many of us have our finances under complete control? According to Alexa von Tobel, 76 percent of all working Americans live from paycheck to paycheck. So basically, three out of four Americans are uncertain about their financial status, and the financial decisions they make. To live paycheck to paycheck is a “ no plan” of action and a bad choice. “You cannot be ignorant,” says Alexa. Financially Fearless: The LearnVest Program for Taking Control of Your Money is full of tasks and questions—and working through these exercises will help anyone build a solid foundation for future financial decision making skills …

Lyxfällan Top 10: Problems People have with Money

Published by Anna Kazakova

“All happy families are alike; each unhappy family is unhappy in its own way.” (Leo Tolstoy, Anna Karenina)  Even though Lev Tolstoy claimed the opposite, we can find similarities in unhappiness of financially broken families—both of which share a common starting point. After analyzing 17 Seasons of the popular Swedish TV Show LyxFällan (Luxury Trap in English), I did draw some conclusions about common money spending habits, lifestyles, and attitudes towards money. If you can relate to at least three of the following economical letdowns, consider yourself warned… Here is a list of the most popular issues that landed people in LyxFällan.  No savings – The most common feature that everybody shared was having  zero savings. This included people with an income of $2000-$6000 per month. No matter how small or large your income is, save at least 10%.  No concept of expenses and loans – Knowing how to budget and control your economy is one ability that most people from LyxFällan did not have. Here you will find The Top 5 Swedish Apps that will help you …

Investing in Jewelry — is it a Myth or a Dream Come True?

Published by Anna Kazakova

While travelling in Russia, I noticed how consumers influence different industries.  Take for example the jewelry industry. It amazed me to see how many jewelry stores were in business, and the variety of international brands that were available. The ‘girly girl’ side of me was charmed, but at the same time, my rational side, influenced by a financial background, held its ground firmly. I thought to myself that there must be a way that would allow women not just to buy jewelry, but also to INVEST in jewelry. This way she can enjoy it and not feel guilty about the purchase because it’s an investment, or is it? Margo Raffaelli To work out if this idea is a possibility I met with independent jewelry consultant at one of the most glamorous galleries in Moscow situated in Red Square – GUM. We took a short tour of the Square, taking notice to the different varieties and brands. Eventually, we landed at Bosco Café.  Margo, a young and attractive businesswoman, has over 10 years’ experience in the jewelry industry. …

Source http://discovermagazine.com/~/media/Images/Issues/2013/Jan-Feb/DSC-PP0113_03.jpg

How does candy relate to your future financial independence?

Published by Anna Kazakova

 (on the main photo Evelyn Rose, // photo by J. Adam Fenster)  In 1970, Stanford University Walter Mischel and Ebbe B. Ebbesen conducted an experiment that they called the “Marshmallow Test”. They gathered about 600 kids (avg. age 4.5) and basically tempted them with a marshmallow, or some form of candy or cake.  It went something like this: a child is left alone in a room having no distractions whatsoever. A marshmallow is then placed in front of him/her and the child is given two options: to eat the marshmallow straightaway or wait fifteen minutes and receive a second marshmallow as an award. So, what does it have to do with financial independence you would ask…   Guess how many of them waited?  Many of you who follow Life as an Investment either dream to achieve financial independence, or are already on their way. According to Robert Kyosaki (read about his books here), “You are wealthy as long as you can live the lifestyle you’re used to—without having to work.” Basically, Kiyosaki is trying to tell us that …

Top 5 Swedish apps that help you save money

Published by Oxana a.k.a. Merenlin

If you’re like me, a young professional making a decent income and living in Scandinavia, chances are you’re not as clever as you think; that is, with your finances. You’re probably hitting the nearest convenience store on your way to work and picking up a yummy latte, or heading out for lunch on occasion. In any case, you probably also consider the money left over from your salary as “savings.” The reality is that “savings” should be invested wisely and grow, grow, grow. Eating out and consuming lattes do not pay off. For instance, you would save roughly 7000 SEK per year (about 760 EUR) “if” you didn’t stop for that latte everyday. At ten percent annually, that 7000 can grow to 10,000 SEK in only five years. How many “obvious” saving methods can you accomplish? Let’s not kid ourselves, saving is hard work. Unless you’re an accountant, and love being one (who in their right mind would do this anyway? :-), you most likely hate spreadsheets. Imagine constantly hunting for a better price, or entering all your receipts onto a spreadsheet every month. Or, evaluating your budget goals every time you make a purchase. It can be time-consuming and frustrating. Investing, on the other hand, is another …

Money Spending Habits — Take the Leap and Make a Change

Published by Anna Kazakova

How many times have you eaten that LAST burger? Millions of people promise themselves a new start on Monday, but typically nothing happens and the promises continue week after week—sounds familiar? Old habits are hard to kick. Admit it—life is crazy. Having two arms is not enough to carry and operate those devices we so much rely on to get us through the day. No doubt, it depends on what we do to earn a paycheck. Personally, I write at least 20 emails and answer about 15 telephone calls per day. I cannot begin to tell you the amount of social media applications I maintain per day. If you are like me, then we need a solution…and FAST! When we are under such demanding circumstances, we get lost and find it hard to ACT AND STRATEGICALLY MAKE CHANGES WITH POSITIVE END RESULTS. It isn’t difficult remembering to call somebody back or to put together a list of things to do. Challenging is to make overall changes in your lifestyle, behavior, etc. Ok, so you made …

How smart women invested in 2013?

Published by Anna Kazakova

In Sweden, declaration (tax returns) time has come again. Every citizen earning an income, recently received a large yellow form from a local taxation office reminding us to submit all sources of revenue, as well as expenditures. This year my income consisted of the usual source—my job and the firm that I own. However, there was a new entry included among my income sources—revenue from rising stock shares! The value of my portfolio rose 19% from last year. Smart girl! How smart women invested in 2013? “How smart women invest,” for me, was an interesting experience. Back in November of 2013, a friend of mine invited me to a seminar. It was more or less a breakfast meeting comprised of smart women, and Barbara Stewart, a researcher and portfolio manager from Canada, travelled here to Stockholm to share her financial insight and wisdom. The event was organized by NASDAQ OMX. Barbara, an elegant and charming woman, revealed to us information about what motivates smart women to invest, and how they make an investment decision. For her research, she talked to 100 …

April. It is all about money!

April. ‘It is all about money!’

Published by Anna Kazakova

Some of my readers claim that an investment blog should discuss more about actual money investments, and not only discuss the investment of assets like “time”, “lifestyle,” and “connections.” Let’s talk about “the real investments”- The process of investing money for profit. Red Alarm Bulb Some people say that happiness in life is not all about the destination – it’s more about the process. The same idea applies with “money investment” – you need to enjoy the process. If you’re not crazy about the idea of investing because of its association with “limitations” and “saving,” and the red alarm bulb consistently appears somewhere in your brain creating mild anxiety, then I would say it’s about time to learn where, how, and how much. This month I will tell you how to find and harness motivation, as well as save at least 10% of your monthly income, leaving you with a fabulous feeling!   The ugly truth The ugly truth is that I am not a disciplined investor. In fact, not at all.  I remember telling my …