These 6 practical tips will certainly help you have a better financial plan, especially at the beginning of the year when Carnival is approaching and many people lose control of their finances.
But this isn't the only topic we work on here at Digital Seguro. On our portal, you'll find a lot of secure information about credit cards, loans, car and motorcycle financing, and much more.
Contrary to popular belief, the steps to getting your finances in order are quite simple. The Administradores website has listed 10 steps to help you organize your portfolio and get your finances in order. We've highlighted six of these steps for you. Check out the six practical tips for your financial organization below.
1 – Establish a Day for your financial budget
Set aside one day a month to organize your finances. Create a spreadsheet with fixed expenses, debts, payments, and incidentals. Also include all your income, such as salary, rent, and other incidental earnings. Create your monthly budget, adjusting your expenses to your income. Ideally, you should always have a surplus of 10% to 20%.
2 – Next, try to define specific priorities
If your budget is completely out of balance, for example: spending more than you earn, the solution is not despair, but immediate expense reduction.
It's crucial to prioritize and eliminate non-essentials. This adjustment period requires discipline. Remember that it's necessary, but temporary. Going to restaurants, outings, trips, or unnecessary purchases can wait until your financial balance is restored.
3 – Create a financial goals table
Determine a value, a deadline, and a financial goal to achieve. Organize yourself to create the conditions to achieve the goal. Example: buying a car worth R$30,000 within two years. Analyze your budget and see how to reorganize it to purchase the car within the established timeframe.
4 – Difficult, but look for “Always save“
Personal finances cannot be organized without savings. It's the capital reserve that allows a person to face emergencies or seasonal crises. Commit to saving 101 to 201% of your monthly income.
5 – Don’t accept easy credit cards
Easy credit cards pose serious threats to any financial plan. Interest rates are higher, and people are seduced by the ease of debt. Remember, easy money costs much more.
6 – Study about Learn to invest
A person has resources for investment when they actually start investing their money here which is useful, however, not everyone does this.
Look for good methods that enable your growth in personal planning and strategy, but don't invest in just anything, because you may regret it.
Furthermore, it's time to make your money work for you. Look for investments that fit your profile. To do this, ask your bank manager for help, rely on specialized advisory services, or train yourself to manage your own investments.
Click here and check it out other complementary practical tips for your financial organization.