The start of the academic year is an excellent time to get your finances back in order. In this article we discuss some tips to strengthen your financial basis, this is done through the following topics: Budgeting Saving Investing Book tips Podcast tips Budgeting The easiest way to saving is spending less money. This is difficult for many students and this is of course understandable. But without realizing it, you spend a lot of money on things that are not really necessary. A handy way to do something about this is to use budget software. This allows you to see exactly what you spend a lot of money on and which subscriptions you pay for that you don’t actually need. Banks such as ING and ABN AMRO offer this software through their app, but other free apps include: Dyme iBilly MijnGeldzaken Huishoudboekje Saving Most students will not have much money left over, but it is useful to try to set aside some money every month. For example, to use for large purchases, such as a phone or laptop. Or to make sure you have enough money to go on vacation. Additionally, putting some money aside every month ensures that you get into the habit of saving—a habit you will thank yourself for later. Nowadays, interest rates are higher again, which means you earn more money on the amount in your savings account. A disadvantage of this higher interest rate is, of course, that the interest on your student loan is also higher… But if we focus on the interest, we see that for the major banks (ING, ABN AMRO, and Rabobank), it is around 1.5%. This is already a lot more than you received a few years ago, but at other institutions, you can get a much higher interest rate. For example, at Bunq, a Dutch internet bank, it is 3.36%. You can also place your savings with an investment company. At these companies, you currently receive the highest interest rates. For example, TradeRepublic offers 3.75%, and Trading212 even offers 4.2%. If you decide to place your savings in an account with an investment company like TradeRepublic or Trading212, it is, of course, important to know about the safety of your savings. A high interest rate is of little use if you lose all your savings in the event of a bankruptcy. Fortunately, this is well regulated. For instance, TradeRepublic is covered by the German deposit guarantee scheme. This scheme guarantees that your savings up to €100,000 are safe in case of a bankruptcy. So, if something happens, you will get your savings back up to €100,000. With Trading212, it’s a slightly different story: here, your savings are protected up to €20,000 by the Cypriot Investors Compensation Fund. This is because you are not really saving with Trading212, but placing your money in a money market fund (MMF). Check the following website for current interest rates: https://www.actuelerentestanden.nl/sparen/hoogste-spaarrente.asp Investing Once you have saved some money, it is wise to start investing with a small amount. Even if you can only spare a small sum, it is good to develop this habit. When it comes to investing, the earlier you start, the greater the returns you can achieve in the future. Most of the returns in your investment portfolio are generated from the money you invest in the first few years. This effect is well illustrated in the following video by Visual Capitalist: The Benefits of Investing Early in Life. But why should you invest? Simply put, investing allows you to invest in companies that then share the profits they earn with you. Suppose you own a 1% share in a company, and that company earns 100 euros. Then 1 euro of that profit is essentially yours. Of course, investing comes with risks because investments can fluctuate significantly, and if you invest in just one company, there is a higher risk of losing your money. A good way to mitigate this risk is to invest in a diversified ETF (Exchange Traded Fund). A good example of this is the MSCI World ETF. This is a basket of stocks that invests in many different countries and sectors. For example, this ETF invests in Apple but also in Heineken and ASML. To start investing, you can look at the following Dutch brokers: Bux DeGiro TradeRepublic Trading212 eToro Make sure to do a lot of your own research before you start investing. At some brokers, it is even possible to start with fictional money. Book tips A tip is also to read books on these subjects, so you not only start thinking more about the ideas and concepts but also gain access to in-depth explanations and practical examples that help you better understand and apply the material in your own life. Examples of such books are: Rich Dad Poor Dad (Robert Kiyosaki) I Will Teach You To Be Rich (Ramit Sethi) The Psychology of Money (Morgan Housel) Atomic Habits (James Clear) Money Master The Game (Tony Robbins) “Rich Dad Poor Dad” talks about the lessons Robert Kiyosaki learned from his “rich dad” (the father of his best friend) and his “poor dad” (his biological father). The book discusses the differences in mindset and financial habits between the rich and the poor and emphasizes the importance of financial education, investments, and building assets to achieve financial independence. “I Will Teach You To Be Rich” offers a practical guide to building wealth without too much self-denial. Ramit Sethi discusses topics such as saving, investing, paying off debts, and smart spending. It includes a 6-week plan to achieve financial freedom, focusing on automating finances and investing in yourself. “The Psychology of Money” explores the emotional and psychological aspects of money and investing. Morgan Housel highlights how human behaviors, habits, and emotions influence financial decisions. The book contains 19 short stories that describe the various ways people think about money, wealth, and success and provides insights on how to make better financial decisions. “Atomic Habits” presents
A board year as Treasurer/Secretary at Asset | Accounting & Finance
In this article, Isa Brangers and Charlotte van der Veeke share their experiences as board members of Asset | Accounting & Finance. Who are you? Isa: My name is Isa Brangers and I am 21 years old. I am originally from Nederweert-Eind, but moved to Tilburg in 2022, at the beginning of the third year of my bachelor. When I moved here I immediately became active at Asset, first in the general events committee and later also in the sports committee of Asset | Accounting & Finance. Now one and a half years later, I have finished my bachelor in Business Economics and I want to start my master accountancy after my board year. Charlotte: I am Charlotte van der Veeke and I am 19 years old. I am from Almelo, which is quite a distance from Tilburg. However, I chose to come to the beautiful Brabant and have absolutely no regrets. I am currently in the second year of my bachelor in Business Economics and joined A&F last summer. After being in the Orientation Committee for six months, I liked it so much that I decided to do a board year. Why did you choose to do a board year at Asset | Accounting & Finance? Isa: Based on the recommendation of my former roommates, I joined A&F, which immediately brought me into contact with many new, fun people. Soon my calendar filled up with all kinds of informal events. Initially, I was on the general events committee, where I still didn’t understand exactly what Asset | Accounting & Finance entailed. After six months, I decided to join the sports committee as well, which gave me a better idea of what was going on in the rooms. Initially, I was convinced that a board year wouldn’t be for me; it seemed too busy and I doubted whether I wanted this responsibility. However, I had almost completed my bachelor’s degree and the decision to choose a master’s was very close. I did have the idea that I would like to study Accountancy, but I didn’t know what this looked like in practice. After hearing countless positive stories about board years, I decided to apply anyway, hoping to meet new people, organize great events, see different companies and finally make the right choice regarding my master’s. Charlotte: I chose a board year because I want to develop myself on a personal level. I feel like I still have a lot to grow in certain areas and I didn’t manage to do this during my studies. Therefore, I think this is a good way to make my desired development possible. In addition, it is a welcome distraction from studying and I can fully dedicate myself to the association. Because I had such a good time last semester, I am looking forward to taking the association to the next level. The choice for secretary is because I am very organized which is convenient for this position. The best thing about my job is that you can ensure everything stays neat. While the rest of the board members are busy completing their tasks, you can make sure that those tasks come together properly. You take minutes during the board meeting, you take note of the new members that the Vice-Chairman brings in, you make the annual planning for the organized events of the other directors (and your own, of course) and you can pick up smaller tasks from them if they don’t have time for them. This is how, little by little, you lift the association to the next level. What does a week as Treasurer/Secretary look like? Isa: As a Treasurer, you are responsible for all the finances within Asset | Accounting and Finance. At the beginning of the year you set the budget, which you keep updating throughout the year. What I find very interesting is that almost everything costs money, so you are involved in all the decisions. Unfortunately, sometimes you are forced to be strict and reject interesting but overpriced ideas. On the other hand, of course, you can occasionally bring good news if there is room in the budget left for a spontaneous drink. I also coordinate four more committees: Activities- Sports-, Investment Night and Lustrum Committee. With these, there are weekly meetings, in which you work together towards the events. What I like about this is the variation. With the Investment Night committee, you work all year towards a big formal event, while with the activities and sports committee, you focus on small informal activities for active members. As a nice bonus, we are celebrating our anniversary this year. So I like the challenge of being responsible for this series of major events together with the committee. It is great to see that such a large group of members and former members attend our activities and that we can share this experience together. In my opinion, a board year is a unique experience where on the one hand you carry a lot of responsibility, but at the same time you have a lot of room for your own interpretation. It allows you to build a large network both formally and informally. One of the biggest advantages of a board year, in my opinion, is the alternation between formal and informal events. After a formal event, it’s always nice to have drinks with the other board members and board members. However, drinks on evenings before formal events are not so recommended, but these are part of it too! Charlotte: As secretary, I am involved in various tasks. One of these is the weekly Secretary Meeting on Wednesday afternoons, where you get together with all the secretaries of the other departments to keep all administrative matters in order. In addition, around this time of the year, we as secretaries are busy preparing the new annual schedule, which is also an important part of my duties. In doing so, you ensure that next year’s events have a set date and
Working at KPMG
For the Dutch version, click here. Who are you and what do you do at KPMG? My name is Thomas de Wit and I have been with KPMG for 2.5 years now. I am 25 years old and live in Oisterwijk. After my studies I started at KPMG as a trainee in audit where I am now a senior and participate in the Digital Auditor Track, where we are trained to innovate and automate the audit more. Besides work, I enjoy playing tennis, running, mountain biking and meeting up with friends for drinks or dinner together. What do you keep yourself busy with on a daily basis? We always start our day with a daily. Here we discuss with each other how we feel, what we achieved the day before and what we want to do today. This way your team always knows what you are doing, if you need help and how you are doing. Furthermore, the daily schedule is very varied and I don’t really have a ‘standard day’. My daily activities can include meetings with the client to discuss and understand certain documentation, meetings with colleagues to discuss and explain certain procedures, or independently performing the recording of your work for the file. How did you come into contact with KPMG and what is the reason you chose KPMG? During an event from the Economic Business Weeks, together with recruiters and employees from different Big-4 firms, I went golfing in Tilburg followed by a barbecue. At the time I signed up for this event, I didn’t really know at all what I wanted to do for a Master’s or what I wanted to do afterwards. Numbers was always something I liked, so accountancy or finance would be a logical next step. Once at the event I got talking to several people, including the recruiter and two trainees from KPMG. I remember this last conversation best because I had the best click with these people. They invited me to join them for one day. I would then get a laptop and go to the client with a team to get a taste of what a day as an employee at KPMG would be like. No sooner said than done, so two weeks later I was allowed to join them. This worked out really well and I was then invited for a walk-in internship where I had a little longer to find out if working at KPMG would be for me. After I did this, I knew for sure that I wanted to continue in accountancy and I went on to do the Master Accountancy in Tilburg. At the end of this Master I returned to KPMG for a thesis internship after which I started working as a trainee. Like many of us, the feeling at KPMG was very good and I felt seen and heard here, so I knew that KPMG would be a good employer for me. What makes working at KPMG fun for you? A few aspects of working at KPMG stand out for me. First of all, the colleagues. The fact that you work with young people who are in the same stage of life as yourself gives a very nice dynamic to the work. Outside of work there is also plenty to do together with your colleagues where you can think of get-togethers, summer barbecues, the annual ski trip, playing indoor soccer in the KPMG team, running and participating in various running competitions. Secondly, I think serving many different clients where you have a lot of client contact and also physically go to the client is a very cool aspect. Personally, my clients include a small municipal institution, a large energy company, a sensor developer and a vacation rental company. This diversity ensures that my work weeks do not always look the same where you also always take into account different risks. Finally, I really like the fact that you develop strongly. In a very short time, you grow enormously in your knowledge and responsibilities, both professionally and personally. For me, these elements make working at KPMG fun and challenging. What would you like to give students? Especially go to recruitment events, companies, and try to speak to people from as many offices as possible. The work we do is pretty much the same everywhere since we all have to comply with the same regulations. Therefore, getting a taste of the atmosphere at the offices and seeing if you click with people is the most important thing. As you can read, I have done this myself and it has ensured that I am in a good position. Take your time for this. If you want to know more about my experiences at KPMG, you can always send me a message on LinkedIn! If you have any other questions about the (internship) opportunities at KPMG, please contact our recruiter Ariane Kuijt via LinkedIn, email (kuijt.ariane@kpmg.nl) or phone (+31204239495).
Working at Van Oers
For the Dutch version, click here. Veerle Vanlaerhoven started working at Van Oers Accountancy & Advies in 2020 as a work student tax. After she completed her Master Fiscal Economics in 2022, she decided to continue working full-time at Van Oers as a Junior Tax Advisor. What made her choose Van Oers and how does she experience working at Van Oers? We talked to her. Difficult choices Choosing the right education doesn’t happen overnight, as Veerle found out. In high school she already had a strong preference for subjects such as Economics and Management & Organization. On the other hand, she was also interested in Law. In her fifth year of high school, she went to the open day at Tilburg University to look for an education in which she could combine these interests. Veerle: “I found the Business Economics program a bit too economic and the Law program a bit too static. Fiscal Economics was a nice balance of both and that’s actually how I ended up with the Fiscal Economics program.’ Fortunately, she found the choice for a work-study at Van Oers somewhat easier. On this she says, ‘I myself was born and raised in the region where Van Oers is located. Therefore, I was familiar with the company from childhood. During my studies, I also participated several times in the formal and informal activities of study association De Smeetskring, where Van Oers was also often present. When Van Oers employees then talked about the atmosphere within Van Oers, this immediately appealed to me. In addition, Van Oers has a nice and diverse client portfolio where the work is diverse and there is a lot to learn. That made me apply.’ A good balance ‘Brabant sociability is a term we often use at the office to describe the atmosphere. We work hard, but at the same time there is also plenty of room for a nice chat, a Friday afternoon drink, a good party or a sporting activity.’ She also names the close involvement with the customer and among each other as a big plus: ‘Even as a Junior, you are quickly given responsibility and are immediately a full member of the team. You get many opportunities and there is always someone ready to help. At Van Oers you are not a number and that makes Van Oers as an employer special to me.’ Sticking around After her Master’s, Veerle didn’t feel the need to look elsewhere. She feels right at home at Van Oers and gets plenty of opportunities. She is currently taking her NOB training and will soon start the Personal Development program. This allows her to continue to grow both professionally and personally. Is she planning to look elsewhere any time soon? Absolutely not. Veerle sees herself working at Van Oers for some time to come and hopes to make great strides: ‘I hope to be able to trade in the Junior position for the next step. I also hope to be able to develop myself even more in the tax world in order to help clients even better.’ Peaks and troughs Growth and development naturally comes with peaks and valleys. On this she says: ‘Fortunately, at Van Oers there is also room to make mistakes, as long as you are alert to them and come up with solutions. Besides, the highs win out over the low days.’ She finds it difficult to choose her favourite moment at Van Oers, but she does list a few: ‘the tax outings, the big Van Oers party, my first day as a tax graduate and receiving my first salary. Advice for students As her final advice to students, Veerle has, ‘Especially the atmosphere and the click you feel with a company is very important. The work or the customers at different companies are not going to make the difference. If the atmosphere is not good, you will also go to work with less pleasure. I also recommend that students do a work-study or internship in addition to studying to get a feel for the business world. But above all … still enjoy your student time!
StudyTour 2023, Brazil: Looking back
For the Dutch version, click here. On May 5, we gathered with our group of 25 people at Tilburg University. From here we would take the bus to Schiphol Airport where a plane would take us halfway around the world, because after all those years of Covid-19 and lockdowns we could finally go on our annual StudyTour again! In addition to the company visits, we thoroughly enjoyed the cultural and natural highlights that Rio de Janeiro and São Paulo had to offer. After arriving at the São Paulo Guarulhos airport, we were immediately confronted with the immensity of Sao Paulo. As we drove to our hostel we saw skyscraper after skyscraper, in addition we also saw the less beautiful parts of Brazil, as we also drove past some favelas while some cab drivers told us what to look out for during our stay in Brazil. After this, we arrived at our hostel in the northern part of São Paulo. During our first full day in Brazil, we immediately did some fun things, as we went all the way to one of São Paulo’s southernmost attractions. We did this via a 1.5-hour subway trip that cost us only 80 cents per person and took us to the famous F1 circuit: Autódromo José Carlos Pace. There we watched both the free practice of a GP and the Sao Paulo cup karting race. We also had lunch there, where we walked over a buffet and paid a certain amount based on the weight of your plate (something quite normal in Brazil). After this, we walked through one of the wealthier areas in Brazil that led us to a large lake where we sat on the waterfront with some caipirinhas, local beers and live music. The next day we would see a completely different side of São Paulo and understood why the cab driver had warned us. After arriving in the old city center, we immediately caught sight of all the homeless people there to collect their free meal for the day. Since there was a somewhat less pleasant atmosphere here, we quickly walked on through the neighborhood. While walking, we came across a large skyscraper with a viewpoint over the city, and upon arrival on the 26th, we were again confronted with the immensity of the city. Skyscrapers were visible as far as the eye could reach! After satisfying ourselves with lunch while enjoying this view, we visited the Minhocas closure, a highway that is closed to motor traffic every Sunday, so that the population (and mostly tourists) could travel on it and admire the city from a different perspective. We ended the evening at a restaurant called Bar Brahma where we had a delicious meal. The following days had more free time planned for the participants, where they went in different smaller groups to different places, such as local shopping malls, neighborhoods with lots of street art, beautiful parks, and other fun sights. We also had some simple formal activities, and organized a fun evening with a games tournament that we christened the “buddy games” and finally left for Rio de Janeiro by night bus when it finally showed up after a 3-hour delay. When we arrived in Rio de Janeiro, we immediately recognized a city that was very different from Sao Paulo in terms of culture and nature. The city was much prettier and greener, and much more centered around the waters there, so it naturally attracted many more tourists. After checking into the apartments, we immediately began our planning as we headed to FGV Ebape, a smaller university in Rio. After a brief presentation about the university, a quick tour of the buildings, and a discussion about ESG in Brazil, we headed back to Copacabana for dinner and finally to bed early as the ride on the night bus had taken its toll on the sleep of the participants. The next day would begin with another formal activity as we had an additional university visit at the Pontifical Catholic University of Rio de Janeiro. After most spent the afternoon at the beach as the weather was lovely, we made our way to Sugarloaf Mountain with the whole group towards the end of the afternoon, to enjoy the beautiful view this gave over the city and the bay with the sunset. We started Saturday with a great tour of downtown Rio de Janeiro. During this tour we visited all kinds of beautiful places like the famous Selaron steps, the city’s cathedral, the city’s oldest park and several other highlights and historical sites. Also, at each point our tour guide managed to tell us interesting stories about the city that belonged to the locations where we were at that time. On the same day, we also visited a soccer match between Rio’s Fluminense and Cuiaba and enjoyed the atmosphere of the bustling Maracanã stadium (the same stadium where the 2014 World Cup final was played). The evening ended fairly split, where some decided to go to sleep in time, and some decided to explore Rio’s nightlife at one of the larger local clubs. Sunday started the day again nice and early with a nice boat ride across the Guanabara Bay where Rio de Janeiro is located, where we could enjoy some drinks and the beautiful view of the city from the perspective of the sea. After we were able to rejoice some of the participants with some solid ground under their feet again, we made our way with the group to a nice beach bar that we had picked out in advance. Here we all had a delicious meal and made our way bit by bit to the beach we were right next to to try the water. After spending some time here and enjoying the wonderfully warm water, we decided to make our way to a nearby beach where apparently the most beautiful sunset in the world would be visible. Unfortunately, we found out too late that we had gone
StudyTour 2023: Brazil
For the Dutch version, click here. After two editions of absence, the famous StudyTour of Asset | Accounting & Finance is finally back! That is why we are going big with an amazing trip to the beautiful country Brazil! We will visit many beautiful places and travel to two of the world’s greatest cities: São Paulo and Rio de janeiro. In this Faces article we will explain more to you about Brazil, our travel, and the research we are going to perform during the trip. Information about Brazil Brazil is a beautiful country with a rich culture and natural wonders. One of the country’s biggest attractions is its beaches, which are among the best in the world. The warm waters of the Atlantic Ocean, combined with soft sand and picturesque landscapes, make for an unforgettable experience. São Paulo and Rio de Janeiro are two of Brazil’s most famous cities and are known for their vibrant culture, exciting nightlife, and beautiful architecture. São Paulo is the largest city in Brazil and is a major economic hub, known for its skyscrapers, museums, and art galleries. The city is also home to some of the best restaurants in the country, offering a diverse array of cuisines. Rio de Janeiro, on the other hand, is famous for its beaches, samba music, and Carnival celebrations. The city is home to some of Brazil’s most iconic landmarks, including Christ the Redeemer, Sugarloaf Mountain, and the Tijuca Forest National Park. The beaches of Copacabana and Ipanema are also major attractions, drawing tourists from all over the world. In addition to their natural beauty and cultural offerings, both São Paulo and Rio de Janeiro are home to a diverse and friendly population. The people of Brazil are known for their warm hospitality and love of life, making it a great destination for travelers looking for a unique and exciting experience. Our research in Brazil During our trip to Brazil we will do various activities. First of all, we will do some company visits and have meetings with large multinationals to answer our main research question. This will be done to compare Dutch companies to the ones in Brazil and see how their corporate culture is different, how different issues are dealt with while focusing on an increasing issue regarding sustainability in the agricultural sector. In recent years, sustainability has become an increasingly important issue in Dutch politics and has had a significant impact on the agrarian sector. The Dutch government has set ambitious targets for reducing greenhouse gas emissions, promoting sustainable agriculture, and increasing biodiversity. The Dutch agrarian industry is known for its highly advanced and technology-driven farming practices, allowing maximum productivity and efficiency. The Netherlands is a very small country, yet it is one of the world’s largest exporters of agricultural products. In contrast, the Brazilian agricultural industry is known for its vast expanses of farmland, with Brazil being one of the world’s largest producers and exporters of agricultural products. Brazil’s agriculture is diverse and ranges from crops like soybeans, corn, and coffee to livestock like cattle and poultry. However, Brazil’s agriculture is often criticized for being heavily reliant on unsustainable practices like deforestation, monoculture, and the use of pesticides. The country faces a number of sustainability challenges, including deforestation, climate change, and inequality. Both nations demonstrate resemblances in their respective agricultural sectors. Agriculture plays a vital role in the economies of both The Netherlands and Brazil, as evidenced by their significant exports to foreign countries. Moreover, both countries face somewhat comparable sustainability challenges. Therefore, examining and contrasting the Dutch and Brazilian agricultural sectors is an intriguing prospect, focusing on how companies are differentially supported, the growth of the sector, expert opinions, particularly from financial analysts, and governmental approaches to the agricultural sector. As a result, the following main research question will be investigated during our stay in Brazil: What is the role of Brazilian organizations in promoting sustainable agricultural practices, and how do their economic and CSR strategies align with national and international sustainability goals in the agricultural sector? Exciting activities in Brazil Besides formal activities, the Studytour also includes many exciting informal activities to make sure that we can also see something of the beautiful Brazilian landscape and exciting culture. During the trip, we will for example visit the famous Brazilian Formula 1 circuit Autódromo José Carlos Pace, the Minhocão’s closure, Ibirapuera park and Meseu da Bolsa during our stay in Sao Paulo. After this, we will travel by nightbus to find ourselves in Rio de Janeiro within seven hours. During our stay in Rio, we will of course visit Crist the Redeemer, the Selaron stairs, Copacabana beach, Ipanema beach and watch the beautiful sunset from the sugarloaf mountain. It will thus be a promising trip which will have a lot to offer, and we are very curious about what these 2 weeks are going to bring. However, I just looked up the Brazilian weather and saw that it is going to be 25 degrees with only sun all day long, so I think that we will be just fine!