When to Buy Your First Home?

I have previously mentioned that I own an apartment in my hometown, and today I’d like to tell you a story of how I got my foot on the property ladder at the age of 21, and whether this is something I regret doing. My parents have always been opposed to the idea of renting and firmly believed that one should own their home. They were born during the Soviet times in Russia where renting was a foreign concept (and to some extent it still is). It became more popular to rent after the collapse of the Soviet Union, but the views of the […]

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No Spend Days

I have noticed that no spend days are very common in the personal finance community and almost every personal finance blogger has at least one or two no spend days each week. When I started budgeting in May this year, I set a small amount of cash aside for the week ahead that I could spend on whatever I wanted (a new notepad or a bar of chocolate, for example). I realised quite quickly that if I wanted to stay within my budget, there was no way I could spend money every day, even if it was on something small. I […]

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Emergency Fund: to have or not to have?

Lately, I’ve been reading a lot about emergency funds and savings accounts, and whether there is a real need for them while paying off your debt. Personally, I don’t have an emergency fund because I put every spare penny towards my debt. I have always thought that if there is debt to be paid off, you are supposed to throw everything towards it and you only start saving once your debt has been paid off in full. That said, a lot of personal finance bloggers have an emergency fund or a savings account that some of their money goes to each […]

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