How to get your financial life in order? This is the question of many people, especially in the days we live in, learn now.
Controlling a household's accounts is not an easy task, Brazilians don't learn about finances in school like they do in other countries.
Therefore, normally, when we take on this responsibility, we are not prepared for the challenge. Therefore, it is very common to find people trapped in endless debt.
What makes this question common, how to get your financial life in order? However, we will share some important tips for you to solve this problem.
Write down all these tips and put them into practice to change this reality you have been living.
Create a study practice
At first, Creating the habit of studying financial education is what will create all the knowledge for you to solve your problem.
You will find many blogs talking about the subject, as well as about economics, after all, today's asset may not be tomorrow's asset.
An update in knowledge is extremely necessary to improve your financial reality.
Have a spreadsheet and make small sacrifices
Having a spreadsheet with all your expenses is necessary to be able to know where you are and where your money goes. Writing down all your expenses is essential to have a healthy financial life.
Saving part of your salary is essential for paying your debts, of course you will have some leisure time. Nonetheless, Cutting unnecessary expenses, at least in part, will bring relief to your monthly bills.
Using the spreadsheet, you can get an exact idea of what you can cut in expenses. This is the best way to learn to gain clarity about your real financial condition and have a path to change.
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Set goals and enjoy the benefits of technology
Firstly, you need to know where you want to go, how much you have to pay, or how much you want to save in a month. As well as, over the course of a year, how much you want to save.
To increase your motivation in monthly savings, a compound interest calculator can be used. This way, you find out how much you will earn by saving for 5 years.
Have a good application It will help a lot to put your financial life in order.
Financial applications contribute a lot, especially with spreadsheets, so they are always at hand.
Make investments
Firstly, due to the lack of financial education, we don't think about the importance of investments in our financial life.
A very small percentage of Brazilians think about the importance of investing. Whether you have a more conservative profile or a more daring one, investing part of what you earn is essential for your future.
There are many types of investment, you can start by investing small amounts, study the many forms of investment and choose yours.
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- Manual for those who want to invest abroad
Create an emergency financial reserve
Finally, Everyone needs to create an emergency fund. Unfortunately, unforeseen events happen to everyone, whether it's related to our health, car, we always have something unexpected.
When they occur, If we don't have a reserve, we end up with a special check or credit card, with very high interest rates. Set a percentage of your earnings to go toward a reserve.
This way, when an unforeseen event arrives, you don't need to resort to more debt to solve the problem. Have a healthy financial life, so you will have peace to live.
