Here are some financial education tips to take right now thanks to Savebly
Set aside one day each month to organize all your expenses and receipts. Create a spreadsheet, where you can indicate all fixed and variable accounts. Put all your recipes that can be:
- Salary;- Receipt of rents;- Revenues;- Etc.
It is very important that small expenses are also included, that is, anything you buy on a daily basis needs to be entered in the spreadsheet. But you must always feed it, as any account or expense that appears must be within your planning.
Choose your priorities
If when you are doing the spreadsheet you identify that your expenses have been greater than the receipts, the ideal is that you define what is most important. Decide what is paramount and start cutting spending.
Think that it is just a phase that must remain until you can recover and improve your financial life. Trips, going to restaurants, movies and any other things that are not essential should wait until things get better.
Try to save
To be able to organize finances it is essential to save. If possible, create a savings account and put the remaining money at the end of the month. This will prevent you from spending it deliberately and unnecessarily.
But you should not keep only the leftovers, the ideal is that you separate 10% to 20% and leave this established as a commitment.
Learn about investments
After some time, you will have learned to organize your money and then the time will come to learn to invest.
When the accounts are up to date and you can save some value, it is very interesting to find investments that match your profile.
Seek information on the subject and see how satisfying it can be to make money work for you.
Negotiate your debts
Often, people despair about having debts and not knowing how to pay. Therefore, nothing better than contacting the appropriate financial institutions and trying to negotiate payment under better conditions. With that, it is possible to achieve a good reduction in interest rates.