August 23, 2019

The slope of January is over! 5 keys to maintain economic stability for your financial health

We did it! We arrive at the end of the month. Did the January slope feel eternal to you? Perhaps you were not the only one, like you, many more people felt that January was more than 31 days old.

Overcome the challenge

money savings

Itis necessary that you take up arms on the matter and plan so that it does not happen again and maintain economic stability. See it as a new opportunity to start caring for your Financial Health.

Planning , take the time to analyze what you want in the short, medium and long term, then define what actions you should take to achieve them.

Identify your income and expenses

money cash

Make a list, in it you will put everything you earn, including small income, at the same time you will make a balance of what you spend. This will allow you to be aware of where your money comes from and where it is going, here you can debug the unnecessary expenses. “Forget the ant expenses, even if they seem few expenses, added will make a strong sum.”

Eliminate your debts, One of the main objectives apart from verifying expenses, savings and investments, is also eliminating your debts. Evaluate them, when you acquired them and how long they will last. Be sure to pay them a day to avoid default or high interest. If you have too many loans in several entities, it is best to take a loan to consolidate them and keep one, the interest will be better and the pressure much lower.

Direct savings

money loan

If you do not have it, you do not spend it, an effective way to save is to be automatically deducted from your account and transferred to your savings account. We know that we mention the word save a lot, but it really is necessary to cope with some unforeseen events that may happen throughout the year. “You have to know how much you can save at the end of the month, so you can take actions such as investing, reducing household expenses, finding other sources of income.”

Go after the opportunities Invest! The savings will not make you a millionaire but will allow you to invest to achieve it, make sure it is something sustainable and have a lot of confidence in that project, research, ask and act. Ready! 5 steps that will make you financially stable throughout the year. Put them into practice!