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  • Finance : English - Introduction
  • Finance : English - Stocks and Shares
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  • 7 Sins - Introduction to the 7 virtues

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shadow-ornament

Why is it a good idea to learn about money topics ?


Here are some suggestions

Lets start with a simple question: Who should be in charge of your finance topics?

YOU!  YOUR VERY SELF! (I hope you came to the same conclusion)

With banks reducing the staff and closing their subsidiaries,the chances are high that it will soon be common to take care about the financial future all by your very self. Websites like this could help, same goes for websites who compare and value financial products.

It´s somehow strange that in todays society we search for hours for bargains to safe a few bucks when buying a new thing, like a TV or a mobile phone, but we do not invest time to learn about our financial long term future. Why is it like this? I already heard all kind of excuses, like “I´m too young, too old, not rich enough” til “Finance is boring” or “Finance is for Bankers”. May we should rename it, “Money is boring” doesn´t sound so convenient, same goes for “Money is just for Bankers”, or even more strange “I´m too old, too young for money”. We live in a world where money/cash is important and finance and economics are the key to deal with this important good.

We gave a simple piece of paper a value and now we decided to live under his rules. Nowadays it´s even more untangible, we work with numbers on computer screens that tell us if we can afford to go for a dinner or if we have to eat noodle soup again.

It´s not necessary to start with 500K to get involved in the world of economic trading, it could start by simply not going out for a weekend and donate the saved money to your account. If you do that twice a month, you may have already have enough money to start a monthly investment plan, e.g. with a Fonds. This very basic way of getting started is even possible when in debts. Of course getting rid of your debts is more important, but even there, small amounts are possible to lay aside. Lets not forget the other side. If you already have “enough” money, and you totally trust your Banks advisor. Thats 100% ok, but it could also be an asset to you if you know what this guy (or woman) is doing with your money. Don´t get me wrong here, Bank employees that are reliable, trustworthy and skillfull advisors are worth their weight in gold, but they have become rare, also because of the decreasing of employees at all. Banks close their subsidiaries and there goes the talent and the knowledge. One more reason for you to get into the topic!

The main problem with semi-talented Bank staff is that they are usually just sales-man not the professional finance consultants that are needed. Also, a matter of change in the banking business, but a change to the worse, if you ask me.

What has an average investment insitute has to offer for an average citizen? Mostly 2 products and both are not profitable as much as they don´t even cover the inflation rate. Here are a few lines about the more common one:

 

Beside the Building loan contract, must used product that is truly damaging to your account in the long run is the savings passbook. A long time favorite from a lot of  people. Established, safe and trustworthy, but far from being profitable.

 

In a nutshell: Annual inflation 2%, interest rate on a savings passbook 0,1%, if you get 0,3% you probably found an internet-bank or are really good in negotiations. However, again, in the long run, you lose money, every day, every night...

 

But why do the people still put their money on such accounts and don´t invest it in e.g. bonds or ETFs? Because it´s more safe! At least thats what the most seem to think, it´s actually a treacherous safety. An average european bank deposit guarantee is usually up to an amount of 100.000.- €, regarding everything above, the bank, and in further instance the state, is not obliged to provide the money in case of the bank going bankrupt. Given, the chances that a huge bank comes to a point of insolvency are not that high, but nethertheless it´s possible and maybe than the government changes the rules...

Another opportunity are Bonds, ideally emitted by countries or large companies.

You may heard of the term “to big too fail”. In most cases it´s true. A company that has reached a certain size, “must” be safed by the government since a lot of employers are threatend to get fired. Same for goes countries, if countries want to continue make business with a struggling one, they somehow have to help, Maybe by decreasing import taxes or act as some sort of bailsman at a Central Bank. e.g. a whole bunch of EU-countries are bailsman for Greece at the ECB. It´s called different and it´s by far more complicated, but the basic system is the same. I put also a Video to the "Brexit" issue with a "ratings and standings explanation" on my Youtube Channel - LINK HERE

There are plenty of other ways and even these 2 mentioned are just to get an idea about alternatives. I did additional explanations in the “Finance : English” Course where I cover the topics of Fonds and Bonds more detailed.

 

Another threat to old school oriented Banks with limited ideas is the Fintec movement, more or less started with the invention of Bitcoins. At least, it get it´s fare share of publicity through that technology. Bitcoins, Litecoins, Ether and all other blockchain variations have the potential to change our financial environment completly. We head for a very interesting future with almost limitless opportunities. Watch out for upcoming videos in the membership area and on the Youtube channel, this is truly a hot topic.

However, with a little time, the idea of depending too much on an Investment Consultant causes a re-thinking about the topic and thats actually very positive. Just you and yourself know how much risk you want to take, just you and yourself know about your emotions when you invest your money, yes, not even that is as easy as it seems. But, with the supportive information you get from this site you have a starting pack to get a foundational knowledge and a great overview about whats possible....