Ján Tonka

Articles by Author

18. June 2024

Finax Financial Wellness – A Unique Employee Benefit

At Finax, we believe that having your personal finance in order is one of the core criteria for leading a comfortable life. However, only a few care about their future to such an extent that they’d be willing to sacrifice time spent with family or leisure activities to gain extensive financial education. Therefore, we’ve decided to introduce it directly within companies.

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Are you in debt? You don’t have much time left | Finax.eu
25. August 2023

Are you in debt? You don’t have much time left

Slovaks apparently like living on debt. However, the era of cheap money is definitely over.

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28. July 2023

Do You Want to Get Rich? Invest Long-Term

Warren Buffett, one of the richest people in the world, bought his first stocks at the age of 11 and continues to buy them even today. At the same time, he says: "I regret that I did not start investing earlier". Buffett's path to wealth is the embodiment of the compound interest principle. In fact, he earned 99% of his fortune after the age of 50.

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21. July 2023

Are you prepared to live 20 years without a salary?

Pensions are not something that is discussed over a beer in Slovakia. However, it is a subject we cannot afford to ignore, as this period represents approximately a fifth of our lives. How much money will I receive during retirement? And will it be possible to make a decent living from this amount? Will I be able to reach the retirement age at all? These are the questions that will sooner or later begin to bother each and every one of us.

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Real estate is thought to be the best long-term investment. Is it? | Finax.eu
27. January 2022

Real estate is thought to be the best long-term investment. Is it?

In past blogs, we have already explained why investing in real estate is not worth it compared to equities. However, prices of flats and houses have been regularly hitting new highs since then, and even last year's survey by Slovenská sporiteľňa showed that more Slovaks still prefer real estate to securities. That's why we bring you an updated comparison, in which we answer whether real estate is still (not) worth it.

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10 cases when you should not leave your savings lie in the bank | Finax.eu
9. November 2021

10 cases when you should not leave your savings lie in the bank

Did you know that the ECB deposit rate is at its highest level since the euro was created? The current market environment offers a wealth of opportunities to capitalise on short-term savings with minimal risk. Unfortunately, attractive market yields will elude the 27 billion that Slovaks hold in current accounts. Does this statistic happen to apply to your money as well?

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Book review: Your Money or Your Life | Finax.EN
17. August 2020

Book review: Your Money or Your Life

Financial Independence, Retire Early (FIRE) has become a goal of many people in recent years. The idea of early retirement and having free time certainly sounds better than living in a predetermined way: 40 years of work and surviving in retirement. Today, we will have a look at a genre classic from 1992 - Your Money or Your Life written by Vicki Robin and Joe Dominguez, which represents the beginning of the FIRE movement.

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Financing a real estate purchase | Finax.en
16. July 2020

Financing a real estate purchase

In recent years, the National Bank of Slovakia has taken several measures in order to mitigate the risks associated with the rapid growth of Slovak household indebtedness. Easily available 100% mortgages are a thing of the past. If you want to live on your own today, in addition to rising real estate prices, you also have to deal with several banks’ requirements.

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