How to have good personal finance management

• If you want to improve personal finance management, you should keep reading.

• Having a good financial education will allow you to improve your economy.

• Taking care of your pocket requires healthy financial habits. See how to do it.

These tips will be of great use to you in the correct management of personal finances.
Well, this way you will get the financial education you need to improve your personal economy.

Make a spending plan

To start controlling your personal finances, you must first know how much you earn and how much you spend.
Make a spending plan noting all income and expenses.
Each expense management consists of the following:

Income

• Salary, unemployment benefit, pension.
• Net return on investment (discounting the money invested)
• Other capital.

Expenses

• Mortgage, rent.
• Other loans: car letter, fast loans, etc.
• Transportation expenses: metro, gasoline, etc.
• Leisure expenses.
• Shopping expenses: food, clothing, etc.
• Insurance
• Bills: water, electricity, internet, mobile, etc.

Reduce gastos

If you reduce expenses, you will be more comfortable monthly and it will also allow you to save.
Many people find it difficult to save, a task that most of the time is unsuccessful due to poor optimization of the economy.
If you have the impression that you do not earn enough to save, ask yourself if the reason is really a bad financial organization.

How to cut expenses:

• Reduce unnecessary expenses, you don’t have to live in misery, but try to keep a balance between your social life and your income.
• Don’t buy compulsively.
• Check your subscriptions: Gym, internet, phone, Netflix, Spotify, etc.

Related Notes:
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Dedicate time to your economy

Financial education is essential, and spending time with your money is a golden rule that you should follow.
Educate yourself and train yourself to be able to analyze the most profitable investment options that will make your money grow.
The more informed you are, the better decisions you can make, whether to invest or to decide in which bank you want to open a bank account.

Check your credit regularly

To improve your personal finances, check your credit regularly to know how much you are spending and how much you have available.
To know how to handle personal finances you have to know the money you have to be able to decide and prioritize purchases.
Check your bank accounts at least once a week.

Automatic payments

As far as possible, establish automatic payments, a preventive measure to avoid defaults.
To improve your personal finances, you can establish automatic payments for monthly expenses such as internet, rent, etc.

Save and invest

As far as possible, try to save every month, even a thousand pesos, this will allow you to have a financial cushion.
Do not leave the money in your day-to-day account, put it in a savings account, which although it generates little income, will prevent you from falling into the temptation to spend it.
Don’t be too strict, some months you can save more and others less.
Set a savings goal in your finances that motivates you, for example, you can save to buy clothes in the sales, to buy a car or motorcycle or to go on any weekend outing.
Start small and get the personal satisfaction of having achieved your savings goals.
In order to save you will have to eliminate those unnecessary expenses and whims that give satisfaction but destroy your financial future.

Pay outstanding debts

As far as possible, liquidate outstanding debts, take advantage of the savings to solve the debts that you have pending
It is very important that debts such as loans, plus the mortgage credit and moreover, the microcredit should never exceed 30% of your income.

Having good personal finance management will help you take care of your pocket and achieve long-term goals that may now seem unattainable.

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