How To Track Your Expenses

Do you know how much money you spend on a monthly basis? And we are not talking here about a rough estimate, but do you actually know how much money you spent on groceries, housing and shopping? Do you track your expenses? How much money are you putting aside every month? Is it 1%, 10% or much higher? If you do not have a spreadsheet,… Read More »How To Track Your Expenses

Why Seek Financial Independence

This is the last letter in my crash course on financial independence and might be the most important one of all. It is all about the questions: why seek financial independence? For me there are three reasons why I want to be financially independent: 1.   Security.  Knowing that I have money on the side in case of a major crisis, lets me sleep good at night.… Read More »Why Seek Financial Independence

How Much Money Do You Need?

Now that we have discussed the three levers of financial independence, you understand the basic concepts behind them and know what action plans you can implement to use each of them effectively. The one remaining question is: How much money do you need to never have to work again? Net Worth: Assets minus Liabilities The first thing you need to do is:  Track your net… Read More »How Much Money Do You Need?


Income is a very different topic than expenses and investing. One that is as diverse as it gets and as difficult to give recommendations as it goes. This letter will show you how to increase your income through three different paths. For expenses, the concept and advice is simple: Increase your savings rate by tracking your expenses and cutting out everything which does not add… Read More »Income


Still remember the three levers of financial independence? Income, Expenses and Investing. In this letter, we will focus on how to invest your money. Why not first focus on income? Simply because I personally feel that for the three levers of financial independence the order of importance is 1) expenses, 2) investing and 3) income.  There is one part to investing which can seem like… Read More »Investing

Expenses & Savings Rate

Let’s talk about your savings rate and reducing your expenses. First, we will cover why I think of all the three levers, expenses is the most important one. And then we will go deeper into how to track and reduce expenses as well as defining what the “correct” level of expenses is. Excited? I am for sure. Remember Bad Ass Mike and Nice Guy Andy?… Read More »Expenses & Savings Rate

An Intro to Financial Independence

Welcome to Chocolate and Money! It is amazing to have you here! If you are asking yourself: “What is financial independence?”, then this is the right place to be. Whether you are new to personal finance or already have a basic understanding of financial independence, I hope that these six letters will give you value and put you on the right path towards a financially… Read More »An Intro to Financial Independence