The vast majority of people today are in financial trouble. Each with their own motive, but what they have in common is a lack of organization, the key to getting your personal finances up to date and some fat to use if need be.
Essential Tips for Your Personal Finances
As we mentioned above, let’s list tips you can take to help you with your personal finances:
Planning : The first step is to have good planning, and this is only possible if you know your earnings and expenses well, because we usually do not do this control strictly. The tip is: create a simple spreadsheet on your computer, or a notebook, and write down monthly how much you earn, each fixed expense you have (children’s school, rent, internet, etc.) and remember to also note any debts or benefits you are paying. paying. That way you can do the math and know how much you spend and how much is left over your salary. Here’s a tip for tracking app, MoneyWise,
Balance and definition of spending : This second step is linked to the first. Knowing how to monitor earnings and expenses can bring balance to your personal finances. Experts indicate that the ideal is to invest in the technique 50-15-35 : 50% should be used for essential and fixed expenses (rent, condominium, electricity bills, water, school, health insurance, etc.), while 15% will for financial priorities (debt or investing in fixed income or saving) and 35% for leisure time, personal care, etc.,
Reduce credit card usage and only use it in situations you’ve already anticipated in your spend / cost spreadsheet, compare prices before making the purchase you want, and if you buy cash you get a good discount , save the money and only buy when you have enough,
Invest: Once you can balance your accounts and practice the 50-15-35 technique, start saving money and investing in applications or savings so you can have control over your financial life and have a good short, medium or long term profitability. long term, so you can live your life in an organized and financially secure way.
Unfortunately the reality in our country is that there is no financial culture, and there is not always interest from the institutions that people understand about how to manage their money better and without relying on them for investments and transactions, so follow our tips for taking better care of your money, or if need be, rely on CASH for that financial emergency.