Chapter 2
Financial well-being
“Interest on debts grows without rain.”
– Yiddish Proverb
Eliminate high-interest debt
Pay off debts with high interest rates to reduce financial burden.
Focus on credit cards and loans.
Allocate extra funds to pay down a credit card with high interest.
Use credit wisely
Manage credit responsibly.
Avoid unnecessary debt.
Pay off your credit card balance in full each month.
Avoid lifestyle creep
Don’t increase spending with income.
Maintain your lifestyle as earnings grow.
Keep your housing costs the same after a salary increase.
Understand needs vs. wants
Prioritize essential expenses.
Control spending on non-essentials.
Buy groceries before spending on entertainment.
Build an emergency fund
Save 3-6 months of living expenses for unexpected events.
This provides financial security.
Set aside 100€ monthly until you reach your emergency fund goal.
Feel free to share with your colleagues
Give feedback, ask questions or request new resources
