Finance For You

Which option would you prefer?


A) I give you 100 euros and then I take 40 euros away


or


B) I don’t give you anything



A is better, right?


Otherwise you're just saying: “I don't want money!”


But people make choice B all the time.


I hear lots of people say this:


“Investing taxes are so high it's not even worth bothering!”


I hear this from people in the United Kingdom, Denmark, the Netherlands, many other places. . .


even countries where taxes aren't all that high. . .


And I get it – no one wants to pay 20, 30 or 40 percent tax on their ETF profits - it’s frustrating.


But paying 40% tax on 1000 euros is a LOT better than paying 0% tax on 0 euros.


And investing is virtually always better than not investing, no matter where in Europe you live.


It's especially dangerous to compare your country with others.


Okay, sure, taxes may be lower in other European countries.


But here's a couple of things to keep in mind.


First, comparison is the thief of joy.


Unless you're planning to move, comparing with other countries is just a recipe for depression.


And second, taxes don't exist in a vacuum.


I’ve been researching taxes in 30+ countries across Europe – and in most cases the countries with the lowest taxes have plenty of other drawbacks…


While many of the countries with higher taxes are the countries where people want to live – because life is very nice there.


So don't sabotage your own wealth.


Don't pick option B and stay broke just because you're frustrated about taxes.


Take action – save and invest – and you'll be far better off in the future than anyone who's stuck in “comparison mindset”.


Even if you have to pay some taxes along the way!

2 years ago | [YT] | 3

Finance For You

Yesterday, we turned our clocks forward again.



Every time this happens, people tell me what an exercise in futility this is.


And I agree, but this practice is beyond our control, however silly it is.


Do you know what else I think is silly?


People living their entire lives not knowing how to manage their finances.


It’s no wonder that “financial problems” ranked first among the issues that troubled Maltese people most in 2024.


These people are your staff, your team mates. Perhaps it’s also you.


But, unlike Daylight Savings Time, this is an issue that you can now control.


I offer tailored financial well-being sessions to businesses who have their team's financial futures at heart.


If you’re interested in getting to know about my programmes, just drop me a message!

2 years ago | [YT] | 0

Finance For You

In my third instalment of my collaboration with Lovin Malta, I delve into the power of using good debt to buy assets. Very often, we tend to think of debt as some sort of albatross around our necks which limits us from living our best life 😖

However, if we use it wisely to acquire assets rather than just liabilities, debt can serve as a great means to generate wealth 🚀

In this video, I use an example of two names which are well-known to most of us: Drake and Robbie Williams 👨‍🎤

While the levels of wealth that these artists have accumulated are most likely multiple times our own, we'd do well to learn a thing or two about the way they have leveraged other parties' money to buy assets for themselves and actually compound their wealth in this way.

Check it out here:
www.instagram.com/p/C0jREQTt52Y/

Always exercise caution and seek professional advice before making financial decisions.

Reach out to me on patrick@financeforyouandme.com if you'd like to know more!

2 years ago (edited) | [YT] | 0

Finance For You

Hi everyone! I am always looking to refine my content to give you the best possible experience. Please take a moment to let me know what type of content you'd like to see more from me in the future.

Your opinion is valuable!

2 years ago | [YT] | 1

Finance For You

What is the rule of 72?

2 years ago | [YT] | 2

Finance For You

I always wondered why school, college or University never taught us how to be more productive or efficient.

I mean, we spend an average of 2.5 hours a day on social media. That is 36 days every year! Surely there must at least be a one-time, ten hour course at University on this topic? One ten hour course that could save us countless hours of mindless unproductive activity!

Alas, no.


So this damning statistic kicked me into creating a system designed around focus and deep work.



In this video, I provide six tips that have helped me save precious time in my jobs:



1. Choose yourself first
2. The best productivity app you can use is “flight mode”
3. Your “one thing”
4. Habit stacking
5. Make it a no-brainer
6. Plan your day ahead



Feel free to share your thoughts on what works for you in the comments below!

2 years ago | [YT] | 2

Finance For You

Let's play a game: "Frugal or Cheap?"



When your friend brings a reusable cup to their favorite cafe, is it a frugal or cheap move? Most would say it's frugal.


But when that same friend sneaks in their own teabag to the cafe, it might lean a bit on the cheap side.


People often confuse frugality with cheapness, but they're as different as buying store-brand cereal (frugal) and eating it with a fork to save milk (cheap).


Frugality is all about sensible money management. It means finding value, saving for the future and being prepared.


Cheapness, on the other hand, involves being overly reluctant to part with money. It's about not wanting to spend a single penny. Like offering your friend some of your Pringles and later asking them to split the cost. Or making a birthday card from tissue paper and calling it "artsy."


My friend actually missed a once-in-a-lifetime Iron Maiden concert for €15 because he thought the ticket cost "a bit too much"! This shows how cheapness can lead to missed opportunities.


Here's the key: being frugal doesn't mean missing out on life's joys. It's all about choices and balance. You can save for the future and still enjoy the latest movie or dine at a fancy restaurant.


To find balance, you can:


Prioritize your spending, cutting back on things that don't add value to you while allowing yourself to spend on things you genuinely enjoy.
Plan ahead, which can save a lot in the long run, from meal planning to booking holidays in advance.
Enjoy free or low-cost activities – a picnic in the park can be as enjoyable as a high-end restaurant, just without the waiter.
In essence, frugality is about being savvy with your money, not about missing out. Cheapness, on the other hand, is avoiding spending altogether.

So challenge yourself: adopt one new frugal habit over the next month and find that sweet spot between smart spending and enjoying life's pleasures.

Patrick | Finance4U

2 years ago | [YT] | 3

Finance For You

As a 14-year old rock addict with a steady but mediocre repertoire of guitar riffs, it was crystal clear what I wanted to be when I grew up: A rock star!



Unfortunately, school got in the way, bands fell apart and I slowly tucked away my guitar for a laptop, calculator and Excel sheet. Various corporate jobs followed. I learnt and grew as a professional in different fields. Unfortunately, nothing could replace the feeling of playing guitar with a band of brothers and performing to a live audience.


But one feeling comes very close to that: Teaching.


I have been teaching in some shape or form since the age of 15. There is something about sharing knowledge with like-minded individuals that fills me with hope and satisfaction. In class or in training, I am in my element. I am a rock star in my own little way.


And so, as yet another MBA course commences, I hope to continue creating heavy metal financial content for many years to come!

2 years ago | [YT] | 5