Personal Finance using Management Consulting Hacks

In the second section I will show you all the ways in which you can spend less money and save more. As always I will teach you how to analyze data on your own and make good, rational decisions. You will learn the techniques as well as the tools that will help you analyze different situation in life when you have to decide whether to spend money on something or not. We will discuss many techniques such as: reducing usage, eliminating some expenses, renegotiating others, total cost of ownership, the cost of bad health, value of time, happiness adjustment, reducing liabilities, repurposing assets and many more

Here I will show you the general framework for building wealth that we will use in the whole course. In this lecture we wil go in detail when it comes to ways in which you can spend less and save more

There are plenty of reasons why you have to first see on what you spend currently your money. We will discuss them in this lecture

Let’s start with the goal. You want to see on what categories you spend money and how much they make in your monthly spending. There are 4 approaches to gather data on how much you spend and on what. We will discuss them in this lecture

Imagine that you have to help your friend Giuseppe analyze his spending. He has gathered data for the last 2 months

Here we will discuss the data that we need for the case study. We will have a look at expenses of Giuseppe.

In this lecture we will solve previously introduced cases study.

In this lecture we will solve previously introduced cases study.

In this lecture we will solve previously introduced cases study.

In this lecture we will solve previously introduced cases study.

Just as reminder reducing usage is one of the ways in which we can spend less. Now we will talk about this in details

We are back to Giuseppe. Since we know that he is spending too much let’s try to see how much he can save by reducing frequency of certain activities

In this lecture we will solve previously introduced cases study.

In this lecture we will solve previously introduced cases study.

Let’s imagine that you were to help Maria reduce her one-offs expenses by reducing the frequency of purchase. There are a few things that we know about Maria. Use them to decide how often she should replace: domestic aplliances, clothes, smarthpones, laptos and others

Here we will have a look at data that we will use for the case study

In this lecture we will solve previously introduced cases study.

In this lecture we will solve previously introduced cases study.

I will show you how ot use the low hanging fruit framework to decide which expesnes you should reduce

Just as reminder eliminating some expenses is one of the ways in which we can spend less. Now we will talk about this in details

We will start by discussing how to identify which expenses are worth eliminating. Later on as always we will move on to case studies. There are 3 main reasons why you should eliminate certain expenses

• Eliminate things you don’t use

• Eliminate things you don’t enjoy

• Eliminate things that are harmful

We will discuss it in this lecture

Help Peter decide which things he should altogether eliminate from his expenses. He has gathered data on his annual expenses to be data driven

Here we will have a look at the data for the case study

In this lecture we will solve previously introduced cases study.

Another great thing that you can use to spend is less is simply to look at the prices you pay and change them

We will start by discussing the general approach to renegotiating the prices

We are back to Peter for a second round. This time around you will be asked to estimate how much he can save by renegotiating prices.

Here we will have a look at tha data that we need to solve the case study introduced in the previous case study

In this lecture we will solve previously introduced cases study.

Total Cost of Onwership is an important concept that allows us to make the proper decisions. In the next few lectures we will discuss this concet in details and I will show you how to use it in practice

Here we will discuss a very useful concept that is used in business and should be also used when making serious long-term decisions the so called the total cost of ownership

Let’s imagine that Peter is considering 2 choice: buying an apartment or renting it. Let’s use the total cost of ownership to see what makes sense.

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

Here I will show you when it makes sense to use the Total Cost of Ownership concept

Staying in shape can help you drastically reduce your expenses. Here we have both direct as well as indirect impact. We will discuss the benefits of staying in shape & healthy and why it makes impact on how much you spend

Lukas is a bit overweight and not that fit. You want to prove to him that this is very costly for him and that he can save a lot by exercising and eating less

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

Whether you clean, cook, wait in the line you are effectively using your precious resource that is also limited – the time. Time like money is limited and you can exchange between each other. Calculating the value of your time is the next step that will help you save money.  We will discuss it in this lecture.

Let’s imagine that you want to help Maria use her time wisely. Therefore, you want to show how much she invests in daily things expressed in money.

In this lecture, I will show you the solution to the previously introduced case study.

You can use the value of time for 3 things

1. Make-or-buy analysis

2. Spend less

3. Earn more

We will discuss it in this lecture

As we have suggested you should use the value of your time to decide whether you should do something personally or you should buy it /delegate it

We are back to Maria. Using the previous case study we will try to decide which activities she should delegate using the make-or-buy analysis.

In this lecture I will show you the solution to previously introduced case study

In this lecture, I will show you the solution to the previously introduced case study.

Let’s imagine that you were to decided whether it makes more sense to buy a car or to use Uber

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

Many people are stacked with expensive debts. You have to deal with them to reduce your overall expenses. There are some golden rules that you should follow when it comes to debt reduction. We will discuss them in this lecture

Let's have a look a nice approach that is the most useful when it comes to reducing debts

Let’s imagine that you have to help Adam and Eva deal with their debts. They want to lower the amount they spend on interest paid. Have a look at their debts

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

Another step you can take is to repurpose assets that don’t generate income. We will discuss it in detail in this lecture.

In this lecture, we will have a look at an approach we propose for handling the assets.

Tomasz & Monika married 5 years ago, and they have decided to go through their assets and put them to use. Help them with this task.

Just as a reminder, you were supposed to help Tomasz and his wife go through their assets and put them to use. First, you had to divide into 4 groups

In this lecture, I will show you the solution to the previously introduced case study.

In this lecture, I will show you the solution to the previously introduced case study.

In this lecture, I will show you the solution to the previously introduced case study.

In this lecture, I will show you the solution to the previously introduced case study.

The last thing worth considering that will help you spend less is to check the end outcome before investing. We will discuss this subject in this lecture

Let’s imagine that you were to help George decide whether it makes sense to go to USA for MBA

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In order to build your wealth you have to be efficient. Therefore we will devote a lot of time to teaching you productivity hacks. In this section I will discuss hacks that you can use to select things you should do and to decide what things you will simply not do as they are not worth your time. You will learn techniques such as issue tree, 80/20 rule (Pareto principal), how to set priorities, benchmarks etc.

As we said being productive is the key to earning more. Therefore, in this section I will show you productivity hacks that will help you boost your productivity. In this section I will show you:

1. How to measure how much of your time is wasted

2. How to identify which things you should focus on

3. How to work faster and more efficiently

Enjoy the section and if you have any questions just let me know!

Let’s imagine that you have to help Jorge become more efficient. For that use the Overall Labor Efficiency Framework and estimate by how much he can improve

Here we have a look at data that we need to solve the case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you why it makes so much sense to be very good in selecting the topics on which you should concentrate.

In this lecture I will explain you why you should not concentrate too much on details at least at first. I will also show you ways to avoid it.  I will also do an example to show you how to apply these principles in practice

In this lecture I will explain you why you should not concentrate too much on details at least at first. I will also show you ways to avoid it.  I will also do an example to show you how to apply these principles in practice

Issue tree is a simple yet powerful concept used in consulting for structuring discussion and picking the right topics to concentrate on. In this lecture I will show you the principles of using it as well as a practical example

In this lecture we will talk briefly about applying the low hanging fruits in practice. I will show you the principles of using it as well as a practical example

In this lecture I will show you how to use in practice 80/20 rule also known as Pareto principal

Goals are good as long as they are SMART. In this lecture we will talk briefly about applying this useful concept in practice. I will show you the principles of using it as well as a practical example: some of them general and one specific for consulting

Without setting the right priorites to tasks you may end-up concentrating on the wrong things.In this lecture we will discuss the ways in which you can set priorities to tasks that you have to perform. At the end I will apply them in an example to show you the difference in outcome

In this lecture I will discuss the role of external and internal benchmarks. They are a powerful help in business and will help you boost your productivity yet have to be used with caution.  At the end I will apply them in an example to show you the difference in outcomes.

To-do list – highly popularized by David Allen in Getting things done are a great tool to make sure that you do the right things at a fast pace. In this lecture we will talk briefly about applying them in practice. I will show you the principles of using it, types of to-do list as well as a practical example, including the one I am using.

By using the right tools you can drastically improve your productivity. In this lecture I will talk how to get and use the right tools in practice. I will show you as well as a practical example

Bottlenecks are one of the biggest threats in making faster meaningful work. In this lecture I will explain briefly what it is and how to find it. I will show you as well as practical examples

Multitasking is pure evil and should be avoided. In this lecture I will show you how to do it and it will give you. At the end there will be a practical example

People think that sending emails is an effective way to move things forward. The problem with them is they introduce iterative communication that can cause a lot of noise and wreck havoc. In this lecture I will show you how to do it and it will give you. At the end there will be a practical example. In this lecture I will teach you how to avoid emails in practice

Standard folder structure is important  tool to save time and introduce order. I will show you the principles of using it as well as a practical exampl

In this lecture I show you the importance of writting in a clear and coherent manner that will help you get things done faster. You will also waste less time on writing things that nobody reads

A lot of things are repetitive. Therefore, it makes sense to standardize everything. In this lecture we will show to do it in practice. 

Next step after you created standards is to create templates. In this lecture I will explain how to do it in practice

Here I will show you exmamples of templates and standards

For some things standards cannot be applied straightforward. You need to introduce modules to move forward. I will show you in this lecture how to implement it in practice

In this lecture I will show you how to take advantage of periods of lower activitie

As you saw in the example of email exchange iteration is one of the worst things that absorbs preposterous amount of  time and prolongs all activities. Iteration is not only taking a lot of time of all people involved but also does not let you go forward fast enough.In this lecture I will show you how to avoid it in pratice

By preparing ahead you can avoid iteration and save a lot of time. In this lecture I will show you how to do it in practice

We are very fast to acquire, buy and collect because even if we do not use it know at some point (usually very distant in the future) specific thing may prove to be  lifesaving.  Most often, the staff we collect we do not use more than once (80/20 rules come into play. In this lecture I will show you how to get rid of unused things it in practice

We will talk on the importance of deadlines, types of deadlines and how to set them

Whatever you do is for some sort of customers – your boss, your girlfriend / Boyfriend, other departments who use what you do. Therefore, you have to identify and understand your customer. In this lecture I will show you how to do it in practice

As I have mentioned previously customers are all the people to whom you deliver whatever you do. In consulting when you are business analyst your customers would be the customer of the company for whom you do the project but also associate or project manager supervising your work. If you are also doing some knowledge base generation then you may have as a customer additionally the Partner responsible for this area. It makes a lot of sense to become your customer. This will help you even further understand how to communicate properly and what will give you biggest results. In this lecture I will show you how to do it in practice

At some point being a jack of all trades is not enough. You have to choose some sort of specialization. It may change over the course of years as your role will change but consciously define it and execute it.

First of all you have to define the fields in which you want to excel. Then you have to diagnose yourself how good you are and set the target level. This will be the starting point of your development and mastering fields that will make the difference for you. . In this lecture I will show you how to do it in practice

1 piece flow is a concept from lean manufacturing very useful also at normal work. In this lecture I will show what it is and how to use it in practice

Smart Batching is a concept from lean manufacturing very useful also at normal work. In this lecture I will show what it is and how to use it in practice

Automation is the Holly Grail not of consultants but basically of everybody. You want you work to be done hopefully without your presence but all the praise to go to your name :) In this lecture I will show what it is and how to use it in practice

At some point all of the tips I have mentioned will be not enough if you want to realy scale up what you do. For this you will need to delegate some work and I will show you when and how to do it properly.

Zero defect rules is not about making zero mistakes. It is about finding mistakes as soon as possible and eliminating them. In this lecture I will show what it is and how to use it in practice

• In this section I will discuss hacks you can use to earn more. You have to have a structured approach to earning more from your work. I will show you some hacks that will help you constantly improve your salary. We will discuss how to: deliver value, how to demonstrate value, how to ask for a raise, get more hours, when it makes sense to change your career path

In this section we will get deeper into ways to earn more. Let's have a look at the general framework of earning more. We will briefly discuss the options available

We will go briefly through the productivity hacks from previous sections

We will go briefly through the productivity hacks from previous sections

New skills & knowledge are extremely important for variety of reasons. We will discuss the benefits in this lecture

There are 2 types of compounding effect that help you with small improvements get big results. We will discuss them in this lecture

We will also help Ann decide whether it makes sense or not to take the course for fast reading and what could be the benefit of that

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

Delivering value is extremely important and unfortunately difficult. The value may have different forms. No matter what it is make sure you are delivering it. We will discuss what we mean by value in this lecture

In this lecture we will discuss the approach to deliver value

In this lecture we will discuss a few tips what to do to demonstrate the value

We will discuss here why you have to ask for a raise

We will discuss in this lecture the process of negotiating the raise

Another way to earn more is simply to change the way you earn money. We will discuss it in this lecture using simple example

One of the most important activitiy that will support your efforts to earn more is to create you network of friends in the firm. In this lecture I iwll discuss why it makes so much sense

Let’s see why it makes sense to befriend people at your firm

Networking within your firm is not enough. You have to reach out to outside network as well. We will discuss in this lecure a few reasons why it is so important

Another way to earn more is simply to be promoted to a higher position

In many cases the fast way to get a promotion or a raise is simply to move from one firm to another. We will discuss this strategy in this lecture

Lukas is a wondering whether he should stay in his current firm or move to a new firm. Help him estimate how much he could gain if he does it every year

Here we will discuss the data avaiable to solve the case study

As you may remember we said that you can work more by improving productivity. You can gain a lot also by eliminating chores at home. This is what we will discuss in this lecture

We are back to Maria. In the previous case study we have made the make-or-buy analysis. Now we will see what she can do with the gained time

Here we will have a look at available data

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In many cases you have the choice to stay on your career path ….or to change it to a more promising one. We will discuss when and why it may make sense

Julia has finished History and currently works as a barista in a coffee shop. Help her decide whether it makes sense to change her career path.

In this lecture I will show you the solution to previously introduced case study

Here we will discuss how you can earn more by generating additional revenue streams that will help you increas your income. It may be taking additional job, selling your service, creating tools and assets that you can sell.

Additional revenues is another way to increase your wealth. We will start by looking at general frameworks, what options are on the table when it comes to generating additional revenues

Here we will discuss what are the main ways, methods in which you can try selling your tools and assets

One of the ways to create additional revenues is to sell your services. In this lecture I will show you some examples such as Uber, Doordash, Postmates, Dribbble, 99 design and many more

Now we will talk about tools and assets that you can create or buy to earn more in the future

As we said there are plenty of tools and assets that you can create to generate additional income. In this lecture I will show you examples of such tool.

Here I will discuss how you can sell the assets and tools that you have created

There are ceratin ways that can help you find ideas for tools and assets that you could produce. In this lecture we will discussed it and I will give you some examples of soruces of ideas for new assets and tools

In this case study we will analyze what makes more sense - to creat online course or Excel bases tools. We will see what generates higher income

In this lecture we will discuss how much you can earn by producing online courses

Here I will show you how to calculate how much you can earn from creating Excel based tools and selling them online. We will see whether this option is better thatn creating online courses

Here we will compare the 2 options we have discuseed so far: online courses and excel based tools

On some occasions you may use the assets and tools that you have created to generate new revenue streams by offering additional services. Here we will discuss when it makes sense to do it

On some occasions you may use the assets and tools that you have created to generate new revenue streams by offering additional services. Here we will discuss when it makes sense to do it

In this short section I will show you how to calculate how much money you need to retire.

People hardly ever define how much money they actually need.

In this very short section I will show you how to calculate how much you have to earn to retire

Enjoy the section and if you have any questions just let me know! I am always happy to help with whatever I can

In this lecture I show the backward thinking /induction. This approach enables you to design the whole process, company on the bases of the expected outcome

Try to estimate at what age can Peter retire using his own savings. To estimate the age of retirement use the backward reasoning

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In this lecture I will show you the solution to previously introduced case study

In the last section we will discuss briefly what things you can invest in and how do they differ from each other

In this section we will get a little bit deeper into how to invest wisely your money. We will discuss the general frameworks, what can be done when it comes to investing wisely

You have 7 main groups of investment assets: Cash, bonds, stocks, mutual funds, ETF, real estates, other. We will discuss them shortly so you can see the difference.

In this lecture we will discuss a few golden rules worth applying that we recommend following

There are 3 factors that will impact your investment results:

• Knowledge

• Timing

• Luck

We will discuss how they impact different class of assets

When it comes to stocks there 2 ways in which you can earn money from them: Dividends, Increase in value of the stocks. Let’s see what drives the dividends and the increase in the value of stocks / shares

Also with bonds you have to be very careful. Some consider them safer, yet you must know that they differ greatly. We can divide them in 3 categories:

• Bonds issued by countries

• Bonds issued by states, regions

• Bonds issued by firms

We will discuss them to some extent in this lecture

When it comes to real estate, we have 3 main groups. The majority invest in residential real estates

• Residential

• Commercial

• Land

We will generally discuss how you can earn on residential real estates

Of course, real estate has its risk factors as well. We will discuss them in this lecture