The notion of electrical vehicles, known as EVs, is gaining superiority within the European Union, including the Czech Republic. Some people enjoy the benefits of electric cars, such as the environmental approach, while others prefer EVs for their distinctive looks and design offered by leading tech companies, including Tesla. Yet, you do not have to drive a Tesla to enjoy all its benefits.
In 2016, Tesla entered the market in the Czech Republic with a triumph, selling sixty-two cars in the first year of its operations. That was a spectacular success, and by June 2022, the company’s business operations had expanded. There were 1,100 cars sold, accompanied by a vast chain of fifty-two superchargers.
In other words, there is one charger for every twenty-one Teslas, which is phenomenal as the metric is three times lower in the Los Angeles area. On top of that, every electric vehicle could be “fueled up” at these supercharger stations powered by Tesla shortly. As you can see, there is no actual need to own a Tesla to enjoy its benefits.
What about people who are unable to drive? There is also a simple and straightforward solution available to anyone thanks to FinTech, which joined the market in the Czech Republic in 2015. People could take advantage of something luxurious and extravagant to prospect for a better future and a more prosperous life without the need to own a Tesla as a car but rather as a stock.
Investing in big companies with a prosperous future is a big step that not everyone can take. Some people are afraid to lose all their savings and prefer to store the money under their pillows in case of a black day. Others are skeptical of the stock market and what challenges it could bring due to a lack of financial education and help in managing the investment portfolio.
“My parents taught me the basics of financial education, but they did not have experience with investing, so they could not teach me that. Now, I have my investment portfolio, and it feels empowering to know that there is more security in my financial future,” highlighted Anna Rubešová, co-founder of 24 Hour Journal, money, business, and investing newsletter for the freelance economy, and 24Hour Investing.
The lack of financial education is not the only challenge people face in the investment world. The stock price, for instance, could be another barrier to access to the stock market. In this sense, some publicly-traded companies understand the issue of newbies and attract them by splitting their stock into smaller parts. Recently, Tesla split their stock (3:1) to raise money and bring in new investors.
“The main reasons people don’t invest are fear of losing money and uncertainty of how to pick companies,” says Dennis Wisco, Co-Founder of 24Hour Journal and 24Hour Investing, an online course for beginner investors.
24Hour Investing is the creation of Dennis and Anna’s work in providing more structure and guidance to create more economic opportunity in the Czech Republic.
“Overcoming fear and uncertainty is an easier obstacle to overcome than the lack of access, which FinTech has solved. Now anyone in Czechia can access the most significant financial market in the world, the US stock market, ” underlined Wisco.
Still not sure about investing? Take a quiz: ‘What is your relationship with money?’, powered by 24Hour Journal and 24Hour Investing, and discover your money personality based on your personal relationship with money. Build a better future, become more financially safe and secure, and thrive through the coming years.