This post is about how I manage my personal finances, both theoretically and practically. If you’re new to personal finances I’d recommend this post to start building a mental map of this (unnecessarily complicated) space. Hopefully this gives you useful ideas that you can apply to your own situation!

The Goal

Soccer Goal in the middle of a field
Soccer Goal in the middle of a field

Before diving into the technical details, I wanted to set up what I’m trying to achieve when managing my finances. In short, my goal is to save more, utilize high-interest accounts as much as possible, and use automation to minimize human error. Let’s look at this piece-by-piece:

  • Save More: The only…

This week we have Josh, who shares his thoughts about saving early and how to think about your expenses so you aren’t wasting valuable $$ on things that aren’t bringing you value!

Bio

Occupation: Software Engineer

Age: 24

Location: San Francisco

Monthly Expenses: Rent, Food, Travel, Cell Phone

Interview

Daniel: Could you give the people a quick self-intro?

Josh: I grew up in Toronto and Canada. I went to Waterloo, did a bunch of internships, graduated in 2018, and currently, I’m a software engineer working at a {tech-company} for about two years.

Daniel: So what has life been like post-graduation?

Josh: It’s…


COVID-19 has had a big impact on our economy: from sharp increases in unemployment to the government putting trillions of dollars into relief programs and individual payouts. However, one of the most prevalent worries has been COVID-19’s impact on the stock market. But what is the stock market? What is investing? How does it all work?

We’ll answer these questions and more as we kick-off the first episode of our Investing mini-series! Investing is the act of committing money (i.e. saving) in the hopes of generating profit (i.e. money making money). …


We’ve talked about why you should already be saving for retirement, now let’s talk about the most common ways to do so: Individual Retirement Accounts (IRAs) and 401(k)’s (so much jargon, I know!) These accounts are great ways to lock down your retirement savings and save $$ on taxes. There’s a lot to say about the U.S. tax code (and there will be future articles about taxes), but we’ll focus on giving you just enough to understand these accounts and start using them to help you retire in style 🌴

401(k)

Did you know that the average 401(k) balance for 20–29-year-olds…


Behavioral Finance is the intersection of economics and psychology and ultimately comes down to biases in decision-making. Our decisions are predictably irrational and are not always in our best interest, from holding stocks that are losing value and selling stocks that are gaining value, to eating that sweet chocolate cake even though we’re on a diet. Understanding these common biases can allow us to catch ourselves before they become a problem, and ultimately live happier, healthier, and richer!

Today, we’ll explore one of the most common biases in Behavioral Finance: mental accounting. …


Over 60% of Americans start saving for retirement after their 30’s, so why should you, a (possibly-sub) 20-something year old even think about it? Well, hopefully by the end of this article, with the help of ✨compound interest ✨, I’ll convince you that saving for retirement yesterday is one of the best decisions you’ll ever make.

Compound Interest 101

Albert Einstein is often quoted describing compound interest as “the most powerful force in the universe” (though the validity of this is questionable). In any case, once you understand compound interest, you will see why this claim isn’t too far off. ⏳

Definition

Here is…

Daniel Snitkovskiy

Interested in productivity, cooking, travel, and personal finance.

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