WHAT IS THE PURPOSE OF YOUR SAVINGS?
This is the most important!. As in all activities, "start with purpose in mind"… why or what do you want and / or need to save for ?:
For what day to day ?:
- For your daily expenses: food, transportation, recreation. Routine expenses Prevention ??: Health expensesEducation of yourself or your childrenTravel / vacation Pension / retirement araParaespecular ??: To make investments…. "Silver calls silver"… For your personal dream !!!
DO NOT LEAVE THE MORAL VALUES WHEN THINKING ABOUT SAVING !!!
YOU KNOW. WHAT IS YOUR MONEY SPENDED ON?
Keep in mind that making money is easier than saving. The feeling of having cash is a "motivator" to spend more; having cash is dangerous !!!.
Have you ever budgeted for expenses / income? It is time to do it !!!
Keep track of your expenses….. ???.. Make a record in your schedule, in a notebook or on a spreadsheet… This will help you control and be aware of how your money is spent.
Families waste between 30 and 40% of our income:
- Buying unnecessary things; for "if we ever need them" Spending on "nonsense" during the day: a coffee, a pastry, a sweet, an ice cream, "a little detail"…. We go to the market without a prior list of the things we really need. We need. We do not take advantage of buying promotional and / or "harvest" goods. We buy things in larger quantities than necessary; in the end they are damaged and / or “rot” in the fridge or pantry. If you have a vehicle, do you apply methods to save fuel? Have you checked your utility bills ?? He knows that you waste his resources. We do not do preventive maintenance or neglect our goods (household appliances, the house, the vehicle…)
THE DISCIPLINE AND THE ORDER ARE GOOD COUNSELORS !!!
HOW TO GENERATE SAVINGS?
- Prioritize, think / act first to increase income, and then spend !!!! Avoid consumer credits; They are the most expensive on the market. Assign your social benefits to important projects that allow you to capitalize… Eg: home purchase, study, health, financial investment… Take advantage of your additional income: an extra payment, an inheritance… to save; remember: “after the fat cows come the skinny cows.” Make it a goal to save at least 15% of your income; start gradually, in periods of three months…. 5%, 10%; fifteen%…. 30% Have at least the equivalent of three (3) months of your expenses available. Plan your vacation / rest strategically: "maximum fun / rest, minimum expense !!!".
GROW YOUR FINANCIAL INTELLIGENCE !!!
WHERE / WHAT TO SAVE ON?
As experts say depending on your needs / objectives and level of risk "aversion", some of the "places" where you can save are:
Savings accounts: to have the day to day. Take into account the expenses of these accounts (for the card, for withdrawals… other services).
- Term certificates of deposit, for needs from six months to one year. If you are an employee you can use the cooperative and / or your company's Employees Fund. Stock / bond purchase, for two or three years. It can be done with advice or previously informed. Purchase of real estate, for periods of three to five years. You can have rental income and earn by valuation. Voluntary Pension Funds; for long-term periods. They also have tax benefits. Investment funds have better levels of profitability than savings accounts. They are expertly managed, they are safe. Don't risk your money on informal trading; many times they are illegal, and of course no one answers. In any case, never leave your money "under the mattress"; If you have surplus liquidity, it is better to "move" them, of course, with caution!!!.
