Nowadays it is very important to take into account how we can obtain many benefits knowing how to manage our own money, that is the reason why it is very important to carry out personal finance since most people have never taken this into account so that it is very difficult for them to save because of their lifestyles since for many it is not customary to finance themselves.
Nowadays people live with the 15th and the end of the month in their minds since they do not make adequate financing in their lives and produce more expenses than income in the month, it is very important to know that to start making a personal finance the You will always be the most valuable asset and more if you are the head of the family, so it is necessary that you start investing for your health and that of your family so that you do not have future unforeseen events and this will cause you a greater expense and debt for any disease that can be treated in time because health is the engine for you to do your job and meet your needs.
But this does not mean that all the responsibility of saving falls on you, make your whole family participate by assigning tasks to each one such as: establishing hours to watch television, not having lights on unnecessarily, not using the vehicles in all your outings, etc. Young children and adolescents should be taught that the best and beautiful toys are bought only on special occasions as prizes for their grades at school or their birthdays and not on various occasions since they are usually unnecessary expenses, avoid going on vacation and getting into debt now For interest to be paid, the ideal for vacationing is to carry out the plan before vacationing in order to save and thus not have to go into debt so that they also carry out their own personal financing.
The first thing we have to do is develop a personal financial plan which we calculate our wealth and make a budget to establish our financial goals but we must see that all your purchases are strictly essential for your home or personal use, we must take into account that the Brand-name things are not always the best or that the most outstanding stores are the ones that sell the best products on the market, but their prices are higher than in other stores, being the same product and the same brands, you also have to avoid the use of credit cards since they are always used as an option for debt payments or impulsive purchases generating an expense over expense since they give the opportunity to cover comfortably and in payments but with extra interest.
Savings must be made in any financial institution or in any other way or an investment so that it becomes an income generator in the future.
conclusion
Adequate planning and administration of all income and expenses must be carried out as this will lead to better use of your resources, have short and long-term objectives, know how to invest and analyze risks to achieve a better standard of living so that our children learn the importance of good personal financial management.
Bibliography
- Guerri WillisVP Institucional & Corporate Sales / Asset Management and Fiduciario BancomerRicardo G. Mayer, Financial Advisor, Executive Education.
