How to Make Your Money Go Further in Times of Crisis

As the economy slows to a crawl and many people’s income streams start drying up, knowing how to make your money go further is an important skill. In our recent webinar, we shared insight on how to prioritise, stretch your Euros and make it through this crisis with limited cash.

In case you missed it, here’s the slides from both of our speakers:

Leitha’s slides. (Leitha Matz is a co-founder of Mind the Gap co-founder and COO of Zuper, a data-powered financial platform that makes personal finance smarter, easier and more fun. Today she is proud to help so many of you do more with your money.)

Lubomila’s slides. (Lubomila Jordanova is the founder and CEO of Plan A, a Berlin-based startup that helps businesses monitor their sustainability and reduce their carbon footprint. She was recently announced as 30 under 30 Social Entrepreneur of 2020 by Forbes and Entrepreneur to watch in Germany.)

Hopefully see you at another event very soon! Check our Meetup page for the latest announcements.

Think Long-Term: Successful Investing is All About Time, Not Timing

When it comes to investing, women are more patient and conservative, and think long-term. The old stock exchange wisdom is true: “Back and forth makes empty pockets”. Every purchase and sale incurs transaction costs. That’s why you should take your time and invest long-term. 

The Deutsche Aktieninstitut has determined that on average, the Dax has generated an annual return of 7.7 percent over the past 50 years. 

Don’t let the media drive you crazy, don’t be volatile and sell too quickly, and above all – don’t let yourself be tempted into emotional investment strategies. 

It is completely normal and healthy (!) that the financial market fluctuates strongly from time to time. However, staying power pays off in the form of higher returns.

How To Educate Yourself — and Your Kids — About Money and Finance

Sound financial education not only helps children develop a healthy relationship to money, but also improves their financial IQ. What shares are, how interest rates work, and the ideas behind savings plans and passive income are important topics for children to understand.

It starts with the parents

Here’s another example: A couple saves up all the child benefit (currently €204 per month) from their daughter’s birth. Their chosen investment strategy provides for an equity stake of 70 percent, with an expected return of 6.14 percent per year. For her 18th birthday, the daughter can look forward to the stately sum of almost €80,000 euros! (Taxes may apply.)

Financial education for children

It’s also crucial to get your kids on board with financial education. They need to know how to deal with money — for example through pocket money — and understand the different types of securities, so they aren’t intimidated by them later in life.

Strategic plan for your kids’ financial education

Stage 1 — Financial goals
Set financial goals with your child and help her develop a financial plan to achieve those goals.

Stage 2 — Budget book
Keep a budget book of your expenses. Let your child help you file bills after you pay them. Good accounting is a learned habit.

Stage 3 — Practical experience
Let your child make a shopping list and go shopping alone. He should then write down what was spent on each meal. And importantly, let your child gain experience with cash — this helps to develop a sense of the magnitude of money.


Graduate economist Karolina Decker has over ten years of banking experience in the capital market sphere. Before founding FinMarie and Mind the Gap e.V., she was responsible for the sale of real estate financing, managed a team of 20 employees and was responsible for an annual financing volume of €250 million. She then worked for Deutsche Bank in Berlin in the Compliance department. A certified financial advisor, Karolina’s goal with FinMarie is to make the world of investment more accessible and profitable.

Find more valuable tips from Karolina on ETFs, robo-advisors, securities and more at geldfreundinnen.de