Did you know that to take good care of your money you need much more organization and habit changes than difficult calculations and countless tables? The first steps are: not spending more than you earn, having good financial control, creating a good emergency reserve and spending only when necessary, never on impulse.
These tips are simple, but not always easy to put into practice. And that’s why we wrote this text. Let’s explain step by step so you can take good care of your money and leave your financial health in balance.
Financial Education should be learned in childhood
Most families, often due to lack of information, sins by not providing financial education to children. Since the simple task of adopting a piggy bank to store coins is an excellent idea. Parents can teach that to have a toy or go for a walk you need to save money. As these actions are not done with most families, many grow up not understanding how important it is to have their accounts organized.
What to do then?
Victor Oliveira, Finance and Services Specialist at ReviewBox Consumer Help Site, reinforces that the way you use your money is what will bring you financial success. What does that mean? You NEED to know how much you spend in the month. “If someone asks you today, ‘What is your cost of living? ‘, would you know the answer? And I say more, this cannot be just in the mind. It needs to be noted down. Our mind can make mistakes. The spreadsheet doesn’t lie”, says Victor.
Debts only serve to disrupt your life. In addition to ending your financial health, they also end up with mental health. Don’t spend more than you earn! If you have any overdue bills, try to settle them as soon as possible.. Establish a discharge strategy and cut spending and expenses.
Do you really need it?
Who has never made an impulse purchase that throws the first stone. Know that this is extremely harmful for you. Stop and reflect on how you consume your money. Before buying something, stop and think: “Do I really need this? ”.
Make the credit card your friend
You need to use your credit card wisely. It can be a great ally, as long as it is used responsibly. Don’t take on more installments than your budget allows. And never fail to pay it in full.
Do you have clear goals? Know that having this in writing makes it much easier to reach them. Take a test: write them down on paper and create a path to get to them. Now just fulfill what you wrote. Example: save 200 reais per month to take a trip at the end of the year.
Review your worksheet from time to time
That way you’ll know if you’re on the right path. Remember to put in your spending sheet the periods of the year when you will spend more, such as Christmas, Easter and the end of the year, for example.
save every month
Create this habit in you. Create short, medium and long term goals. It will be rewarding, believe me!
By saving, you will at the same time create an emergency reserve. You never know tomorrow. Ideally, you should have six to twelve months of your living expenses saved.
try to invest
In addition to saving money, it is necessary to make it work. But attention! Before putting it in any application, try to study the subject. Your bank manager is not worried about you. Study what is best for you, according to your investor profile. From there you can set short, medium and long term goals.
Take good care of your money!