We are moving towards a cashless society. This was already true even before the invention of Bitcoin and other cryptocurrencies. Cash transactions have been decreasing over the years as more and more people opt to use credit/debit cards, Paypal, Venmo and other online banking platforms. For those concerned about the lack of physical tangibility of digital money such as Bitcoin, you should realize that most of your money is already just a number in an online database. Continue reading
Let me preface this article by saying that I am extremely fortunate to have been born in an Western nation and had the opportunity to grow up in a place of relative stability and prosperity. Often people from such nations, who have never traveled abroad themselves, cannot even fathom why a person would choose to live abroad. However, to the exponentially growing number of male expats that I have met abroad, the reasons are abundantly clear. Continue reading
I was a late comer to the credit card reward points game. I always thought that I spent too little on average each month to ever make a credit card really worth it. I also despise any type of debt, and view it as the antithesis of freedom. Plus after living in Europe, where credit is not readily available, I had gotten used to just using direct debit cards for everything. I was not aware that Americans are often offered absurdly large bonuses when signing up for credit cards. Continue reading
The majority of European countries are located within what is known as the Schengen Area. Prior to the existence of the Schengen Area, Americans could travel around Europe and stay ninety days in each individual European country. However, now Americans on a tourist visa can only stay in the entire Schengen Area (most of Europe) for a total of 90 days within any consecutive 180 day period. Continue reading
Whenever I’m visiting the United States, I always take advantage of the opportunity to upgrade my computer, smartphone and wardrobe. For when it comes to purchasing consumer goods, the USA has some of lowest prices in the world. However, when it comes to paying for the following items, I cringe at how badly Americans are being ripped off. Continue reading
A few years ago, I was renting a room in a house filled with students who were studying at the German university where I was first paid to study my Master’s degree and then later employed as a researcher.
Because of some bureaucratic rules for switching between a student and a work visa, I had to delay my thesis defense date until the end of that summer. With my thesis research complete, I realized that neither it nor the paid work that I was doing for another lab, technically required me to be physically present during the proceeding months. Due to my record of having performed good work in the past, I was able to persuade the professor who employed me to let me work remotely. Continue reading
As a digital nomad, location independence allows one to optimize their cost of living by moving to a new location. But not all cities are ideal for those who are looking to live cheaply while building a new online business. However, Eastern Europe provides many locations where one’s income can go a long way. This list is based on the places where a person can get the most for their money when it comes to affording a good quality of life. Factors taken into consideration include the cost of rent, food and a night out, as well as how comfortable a city it is to live in and its overall vibe.
Do you want to start your own business, travel the world or simply just spend more time with your family? Whatever your dream is, don’t let personal debt get in the way of it. There should be a mandatory class in school which teaches people the following facts regarding personal finance, given that common misunderstandings so often create long lasting problems and stress. Continue reading
Many institutions in the United States have becoming increasing predatory over the past few decades, among the most notably being: student loan providers, mortgage loan providers, credit card companies and the health care industry. While some of this debt is accrued through misfortune or bad decisions, a good chunk can be accredited to the debt holder having been misguided or misinformed. Many of these industries prey on a person’s sense of self worth and convince them that they are buying a ticket to the American Dream. In reality, they are more likely buying a ticket into indentured servitude. Continue reading
The English economist Adam Smith wrote in his 1776 book The Wealth of Nations:
“Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life.”
While the obvious translation of this is that the more that you can afford, the richer you are, one does not necessarily need to earn more money to become richer. Instead, one could simply place themselves in an environment where they can more easily afford the necessaries, conveniences, and amusements of human life. Continue reading
In this article I am going to explain how I maximize security and eliminate fees when accessing my funds while traveling abroad. By linking a PayPal account with both my primary savings/checking account and a separate Charles Schwab checking account, I eliminate a single point of failure from leaving me stranded somewhere. You can open both PayPal and Charles Schwab accounts free of charge.
During my travels, I have encountered many scams, but luckily have rarely ever been a victim of one. Making mistakes is a great way to learn a lesson, but this does not mean that they need to be one’s own mistakes. It can be much more enjoyable to learn instead from other people’s mistakes. Thus educate yourself about the following common scams so that you can avoid them during your own travels. Continue reading
1. Take Advantage of Currency Exchange Rates
If your earnings are in Dollars or Euro, there are many countries where your money will go much farther than at home. For example, the following meal in Ukraine cost me the equivalent of only $2. Continue reading
The cool morning air blew across my face as I stared down the rail line in the direction which I anticipated my train would arrive. Others waited in the train station reading their papers and sipping their coffees, as a man on a loudspeaker recited lines in a language I did not speak. Continue reading