jongminchunginvest

SERIES

Economics and finance for life

From your first paycheck to housing, family, and retirement. A series for understanding money and making your own decisions at life's turning points.

A path through the essentials

Each chapter starts with an everyday question, explains the concepts, works through a hypothetical example, and leaves questions to apply to your own life. Read the chapters in order and build a record of your own finances.

  1. The basic language of money and economics

    Why does life feel more expensive after a pay rise?

    Scarcity and opportunity cost · Prices and markets · Inflation and purchasing power · Interest and exchange rates

    Put it into practice: Compare living costs across two years and distinguish money amounts from purchasing power

  2. Building a system from your first paycheck

    How much of what I earn is actually available to spend?

    Gross and net income · Cash flow · Fixed and variable costs · Assets and liabilities

    Put it into practice: Prepare a monthly cash flow statement and a personal balance sheet

  3. Savings, emergency funds, and room to choose

    How long could I manage if my income stopped?

    Savings goals · Liquidity · Simple and compound interest · Deposits and financial institutions

    Put it into practice: Estimate cash needs from essential living costs and upcoming expenses

  4. Understanding credit and debt

    How does what I can borrow differ from what I can repay?

    Credit · Loan rates · Principal and interest · Missed payments and debt management

    Put it into practice: Compare monthly payments when loan rates and repayment methods change

  5. Housing, family, and major expenses

    What should I calculate before moving or starting a family?

    Renting and buying · Korean jeonse deposits · Total housing costs · Contracts and shared budgets

    Put it into practice: Separate upfront and recurring housing costs and budget for a life change

  6. Insurance and safety nets

    Which losses can I absorb, and which risks need protection?

    Risk frequency and severity · Social insurance · Private insurance · Coverage and exclusions

    Put it into practice: Map existing protection, gaps, and overlapping coverage

  7. What to understand before investing

    When will I need this money, and how much loss can I bear?

    Stocks, bonds, and funds · Risk and return · Diversification · Fees and investment scams

    Put it into practice: Write down goals by time horizon and the losses you could tolerate

  8. Taxes, pensions, and the years ahead

    What will pay for life when my work changes or I retire?

    Tax basics · Public, workplace, and personal pensions · Retirement cash flow · Regular reviews

    Put it into practice: Map future expenses and income sources and set an annual review checklist

Series you can read now