Why This Blog (Extended Version)

Being an entrepreneur in a market as wild as Ebay (let’s face it, anyone can sell a book online) means my incoming money has been just as unpredictable.

But as the captain of my own ship, I’ve learned to navigate the choppy waters of money management. It’s been a must for me since day one to keep my finances in check, whether it’s not blowing all my cash when it’s flowing, adjusting my lifestyle when it’s not, consistently saving for the future, or being open to new strategies.

And most importantly, not losing my mind in the process.

Money is a complex and often stressful topic for many people. There are a variety of reasons why people struggle with money, including lack of financial education, psychology-based triggers, difficulty understanding investing, or insufficient budgeting and saving skills. The psychology behind spending patterns can be difficult to manage without the right guidance. While financial literacy classes are available in some schools, they aren’t widely available yet. This means that many adults have to navigate their finances without the benefit of gainful educational resources, making it more likely that they will continue to experience financial difficulties. In order to create meaningful and sustainable behavior changes around money management, evidence-based financial psychology education needs to become more widely accessible so that adults can learn how to better control their financial destiny.

How Did That Go?

Personal Growth (As A Positive Side Effect)

Growing as a person in the world of finance doesn’t necessarily mean becoming a boring, responsible adult – although that might help. But it’s pointless to try to grow our bank accounts if we still have negative attitudes, relationships, or destructive behavior towards money. Because in the end, those bad habits will just undo all our hard work.
In other words, you can have all the money in the world, but if you can’t handle it, it’s not worth having.

„Sometimes people buy things they don’t need with money they don’t have to impress people they don’t like.“

Where Do YOU Stand?

You ever heard the saying „no risk, no reward“?

High returns come with high risks.

Ok, let’s insert a usually there, because this statements is actually not 100% accurate. High returns with low risk is an advanced concept. But for beginners, let’s work with the above statement, because it implies the rule „Never lose money“ in a perfect subtle way.

But just because you’re risk-averse, doesn’t mean you’re stuck living paycheck to paycheck.
The truth is, those tanned Instagram influencers on the beach flaunting their „get-rich-quick“ schemes are full of it. But that doesn’t mean you can’t reach financial stability or independence.
All you need to do is change your perspective, strategy, and emotional stability to avoid falling for the „get-rich-quick-or-die-trying“ trap.
In my experience, there are three main reasons people avoid investing in the stock market:

a) fear of losses,

b) fear of not having enough knowledge,

c) not trusting the process.

But with the right mindset, you can overcome those fears and start reaping the rewards.

So Where Is The Catch Then?

Well, from a technical standpoint, passive investing is the easiest form of investing out there.
And I should know, I got tired of throwing my money into companies I knew nothing about, hoping for a big payout. So, later on, I started saving a set amount every month, picked a few ETFs (Exchange Traded Funds) and planned to hold onto them for 35 years for a solid retirement. But before you start high-fiving yourself, this is just half the battle.

This strategy eliminates the fear of not having enough „skill“ (the above b) but there’s still more to it (a + c).
Also, if you’re already retired or nearing retirement, ETFs for a long-term investment is pointless.

But don’t worry. This blog is chock-full of different perspectives that can help you sharpen your relationship and skills around money. So, start with the first article and you’ll find a strategy that works for every stage of life. And, if you’re feeling generous, pass the benefits of compounding on to your kids. They will remember you as the smartest person ever to teach them that.

The Mental Side

Passive investing may seem like a walk in the park, but it still requires a steady mindset when it comes to risk and money. Especially when your portfolio takes a hit and drops by an amount you’ve never made in a full year.

But, by then you’ll know that saving and investing is a marathon, not a sprint. And you’ll be cool as a cucumber because you know the reward is still greater than the risk (right…?).

Sure, passive investing may not be as emotionally taxing as active investing (you know, the whole daytrading thing of buying and selling stocks, ETFs, commodities, etc.) – but it’s still investing, complete with its ups and downs – both financially and emotionally.

But You Are A Bookseller – Not A Financial Expert!

Right, but isn’t it funny? Even as a non-expert, I can still succeed and fail just like anyone else (and when the so-called „experts“ fail they still charge you for it – that’s the true definition of an expert, by the way).

But in all seriousness, as an entrepreneur for over a decade, finances have been an integral part of my business. And with all the information I consume on a daily basis (from all centuries), my personal B.S. detector has become pretty advanced. I’m open to new ideas and concepts, but some of them declared as such today, are not new at all and may have even failed miserably in the past. Let’s expose those. Some old concepts are still valuable on the other hand, but need a facelift. Finally, some principles are timeless and are still applied by the most successful people and will likely never be outdated.
So, I guess I’m a bit qualified to share those, and hopefully in a more easy to digest way for average people like myself. I don’t think I need to know in depth how to adjust my brainstorming accordingly if a Monte Carlo simulation shows a 6 instead of a 4 in its third digit. Blogging and talking finances will still be fun and possible without having an MBA in statistics.

Understand All Concepts

Join me on this journey of growing our finances and ourselves.
This blog is all about growing our finances and ourselves mentally.

Oh, and books, let’s not forget about those.

Sure, there are more complex plans, products and advice out there, but from my experience, the best plan won’t do you any good if you don’t grow as a person along the way. Blindly following someone with a fancy reputation is just one side of the coin (which is why I strongly suggest reading the disclaimer).

The ultimate goal should be understanding the reasons behind our actions and why some things can be ignored, for a happy life and ultimately financial freedom for you or your kids.

Let’s leave the drama for the novels.