All posts tagged: spending habits

Men's Individual Fashion

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

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 …

money save

How to Begin Saving Money

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 …

close-up of human hands cutting a credit card by scissors

Lyxfällan Top 10: Problems People have with Money

“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 …

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Top 5 Swedish apps that help you save money

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 …

NordA: Life as an investment author

Money Spending Habits — Take the Leap and Make a Change

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 …