Every time I see a person on the street drinking an overpriced ‘to-go coffee’, I am looking at what could have been a millionaire. Over time those daily coffees will amount to lots of money, but that is not everything. Every dollar spent on a ‘to go coffee’ is a dollar that can not be invested and generate interest. Because of compound interest, this can become a lot of money over time. If you are already a personal finance expert, this is no news to you (although the forces of compound interest are always a good reminder!), but if you aren’t, this might be an eye-opener. The eighth wonder of ..read more

At the time of writing, I am NOT affiliated with any of the shared web hosting providers mentioned in the review. I wanted this to be a fully independent review of the best shared web hosting services providers. However, I might become affiliated with some of them in the future in which case I will clearly state it here. Why I changed my shared web hosting provider Last month, I decided to change my shared web hosting. I not only decided to change it, but I decided that I wanted to find the best shared web hosting provider in the universe! I used to have iPage as a shared web hosting provider ..read more

I consider myself a quite rational and normal human being. I make decisions based on facts and rarely let my feelings guide me – especially not when it comes to money. However, when it comes to investing, I have experienced many behavioral biases that impact my investments. Even though I am aware of these biases and have taken several behavioral finance courses (and even done experiments on them), I still experience these irrational feelings. I keep on getting the same feelings even though I know that they are irrational. If you are investing in anything from stocks to bonds to startups, you s ..read more

If you are following this blog, you know that I am going to make the most of my life before I die. I have long wanted to make a list where I set concrete goals for different things I want to do in life. I therefore bring to you… my life bucket list! How my life bucket list will be used Being a consultant, I naturally want to make my bucket list specific, measurable and realistic. It should be very clear what it is I want to do, how to measure whether I have done it and be attainable (it cannot be a goal that can never be completed, e.g. “stay out of debt”, or something impossible). I don’t see ..read more

As you probably know, there’s generally two ways for you to save money and increase your savings rate. The first is to increase your income (this one is oftest the hardest), and the second is to decrease your spending (this is often the easiest). Decreasing your spending has been one of my main focuses in the past year, and for me, it has had a much bigger impact on my savings rate than the income increases I have had. I have found that one of the best items to save money on are subscriptions. What do I mean with ‘subscriptions’? Subscriptions can be everything from TV (e.g. cable, Netflix), m ..read more

One of the most common reactions people have when you tell them you will be financially independent at age 33 is: “But.. what will you do?!“. I blog about FIRE (financial independence, retire early), and it is no secret I am mostly focused on the first part: financial independence. To me, the whole ‘retire early’ just sounds wrong, because it doesn’t reflect what most FIRE people do, and people in general misunderstand what is meant by ‘retire’. As you will read, for me achieving FIRE is not the same as not working. I might “retire early” from the traditional hamster wheel of being dependent o ..read more

Today, we are going deal with perhaps the hardest subject I know of: the purpose of life. I am no philosophical mastermind, but I am spending a great deal of time thinking about what the purpose of my life should be. I want to make sure that I have a life purpose that enables me to live my life to the fullest – and I want the same for you. When your life is coming to an end, I want you to be able to say that your life has indeed been a life well-lived. That is why you (and I) need a purpose. ‘The purpose of life’ should not be confused with ‘the meaning of life’. The former I’ll be able to she ..read more

I pay more than 50% of my income in taxes – and I love it. I live in Denmark, a little country in Northern Europe with borders to Germany and Sweden. I live in a welfare state. This means that we pay high taxes (most people abroad think it is outrageously high taxes!), but we also get quite a lot of benefits from the state. In fact, we have one of the largest public sectors in the world (relative to GDP). Denmark has one of the highest equality rates in the world. Even though we are far from perfect, we are perhaps one of the best examples of a modern Robin Hood country. We have a progressive ..read more

Nowadays, more people are in debt than those who are not. This means that people increasingly are seeking debt relief for the following reasons: To reduce financial stress To become debt-free without affecting savings To improve family relationships To set up a bright future for their families If you are in debt, I suggest that you get out of debt as quickly as possible. One way to do it is to follow these three steps to living a debt-free life: Clear your Debt The first step to living a life free of debt is starting to pay off your debts. You cannot live comfortably until you fini ..read more

Do you feel like you’re living paycheck to paycheck? Do you have enough of a buffer in your bank account to handle unexpected expenses? Are you spending more than you’re making each month? I decided to write a post on my top 10 favorite ways of saving money. If you’re having trouble keeping up with your cost of living, these ten tips will definitely help you cut down on personal expenses. 1. Track your spending One of the easiest ways to cut down on personal expenses is to track your spending. If you haven’t done it before, it can be a rude awakening, but you won’t know where all your money is ..read more