What does Penge have to do with personal finance?
Maybe this is your first time on the site, or maybe you've been around here for a while and you're curious... Why is this "Penge"? And what does it mean?
You're probably thinking I randomly spun around a room and picked a few assorted letters and threw them together.
(I was definitely tempted....You try coming up with a name! It's harder than it looks!)
But what actually happened is...
I started looking up different words for money. I love languages and I thought maybe I could find something in another language that made more sense than just "money".
I came across the word "Penge", which is the Danish word for money.
At first, I was like "this is a weird word". So I moved on. But it stuck with me because I like Danish words and I decided to think more about it.
First of all, I love Danish words because they're often focused around community and comfort, which is exactly what I want my app to be focused around. Ever heard of the word hygge? It's a Danish word that doesn't have an exact English translation, but it's the feeling of being surrounded by friends or feeling comfortable and cozy. The Danish are very focused on this concept, and so am I. So that was +1 for the name Penge.
I also researched Denmark and found that the Danish people are actually pretty concerned with making good financial decisions. They make the top 10 list for countries that save the most % from their annual income. Denmark has one of the highest financial literacy rates in the world. Its citizens are focused on repaying their personal debts, and as a country they recently paid off their foreign currency debts. What inspiration!
Lastly, it kinda sounds like "productive spend", which is what I want to help people do - spend their money productively. (And yes - saving and investing is technically "spending" money!)
So what do you think? I've kinda become really excited about the name because every time I say "Penge", it reminds me what I'm trying to do. Would love to hear your thoughts on it!