I often meet colleagues who ask me for tips on how to start organizing my financial life. This sounds like a simple process: cut spending, save money, spend less than you earn. However, some things can influence such ease. So, let’s list here some points that will be decisive for you to achieve your goals.
Map all expenses and make a classification of these. Taking down all expenses, whether month or year, helps you prepare your cash flow. By sorting out these expenses you will be able to make a better decision about what can be eliminated, which can be replaced by cheaper options and those that cannot be moved.
Set goals for your investments.
If your income is higher than your spending, you are already ready to start investing (after all, no money is no investment). The question now is what will you do with this money in the future and the second step is to write down all the expenses you will have . And we are not just talking about the value of the parcel and the input. This will allow you to make better decisions about the investment products you will adopt. If your budget closes with a deficit, start with cost containment plans.
Set a monthly value for your leisure.
More than cutting spending and investing, your planning should focus on the quality of spending you have. If the focus is only on investing and cutting costs, your planning won’t last long, as it becomes boring – or rather torturous. The goal is to improve your quality of life, that is, make better use of your resources thinking about today and tomorrow!
These are simple tips to get you started on your planning. For those who want to deepen the knowledge in this regard, we will prepare new materials on the subject. Wait!