Introduction A financial journal is like a diary, but with numbers. Back in primary school, around the early 2000s, I remember some of my classmates—and even a cousin—keeping diaries. They’d jot down the highlights of their day or week, turning those pages into a treasure trove of emotions. Happiness, embarrassment, Read more…
Elmads shared a comprehensive review of his 2023 year-end investment portfolio, detailing a 43% equity allocation that underperformed compared to major indices like the S&P 500. Holding investments in three financial brokerages, he discussed investment decisions in both local and international stocks, including challenges like managing capital gains tax and the inefficiency of frequent trading. Reflecting on both successful and underperforming stocks, he emphasized the importance of personal improvement and adapting investment strategies. Elmads highlighted the significance of loving the process and competing with oneself rather than others, maintaining a positive, forward-looking approach amidst the financial ups and downs.
Elmads discusses the impact of revisiting old social media posts and financial data, highlighting how they trigger memories and emotions, and promote self-reflection. The post emphasizes the importance of documentation in personal growth and financial management. Elmads shares personal experiences with a self-developed finance tracker that aids in money management and setting future goals. He advocates for proper financial documentation, stating it helps to assess past decisions, manage finances better, and prepare for the future. Elmads encourages everyone to start documenting and tracking their financial journey for better financial health and fulfillment.
Elmads’ blog post discusses the importance of utilizing the UK’s tax-exempt Individual Savings Accounts (ISAs) to manage and save money effectively. It emphasizes earning enough to cover essential needs before saving and highlights various ISAs like Cash ISA, Lifetime ISA, and Stocks and Shares ISA suited for different financial goals across various timeframes. The post encourages strategic planning and understanding the specific benefits and rules of each ISA, advising on aligning financial activities with the UK’s annual ISA allowance of £20,000 to optimize financial outcomes.
by elmads Introduction “Wealth is the ability to fully experience life”. —Henry David Thoreau There was a time when Bill Perkins, an American hedge fund manager and film producer, didn’t know what to do with his life. He got his engineering degree from the University of Iowa, yet he did Read more…
by elmads Introduction Our personal financial free cash flow is the amount of money that can be used for saving, investing, and leisure purposes. The narrative changes if a person allocates his or her free cash flow to generate more money in the future, because that compounds the reinvested capital Read more…
by elmads Introduction Budgeting our hard-earned money can be a challenging task, especially for those who are new to the practice. The transition to a spending plan-conscious lifestyle may take time, similar to the commitment required for exercising and maintaining a healthy diet. The level of success we can achieve Read more…
by elmads Introduction A recession is defined as two consecutive quarters of negative economic growth. A lot of things can cause this, such as supply and demand shocks like during the 1970s (oil crisis) and the 2020 Pandemic (global economic shutdown), financial overleverage and panics (the US panic of 1907 Read more…
by elmads Introduction Have you met or know anyone who is a part of the FIRE movement? I haven’t, but by reading about it, I personally perceive that the individuals who follow the FIRE principles have one common trait, and that is frugality. FIRE is an acronym for Financial Independence Read more…
“Reports are more of a medium of self-discipline than a way to communicate information. Writing the report is important; reading it often is not.” -Andrew S. Grove Introduction I’ve disciplined myself to always take accountability and responsibility on handling my finances. Accumulating the knowledge, honing the skills, applying the two Read more…