If you wonder how to make money pay when you feel less and less, these tips can help you out of trouble.
A key element of financial education is learning how to optimize your resources, not that you don’t spend them or save them under the mattress, but find efficient mechanisms that allow you to grow them. We leave you some tips to achieve it. It is not a matter of achieving it overnight, so perseverance and perseverance will allow you to accomplish your goals without throwing in the towel halfway.
Budget:Write down income and expenses
Write down income and expenses, not only of what you have budgeted but of the smallest expenses such as tips, gum and morning coffee.
If you must, pay. Do not leave later what you can pay today. On the first day of your payment, aim to cover the outstanding debts. Whether you owe it to the cousin, the neighbor or require your monthly payments, do not leave them for later because you can spend it and then you will have to pay with surcharges, which will make your loans more expensive.
If after having paid all your commitments you are left with 3 pesos in the bag. Analyze what options you have to overcome this situation. For example, do not think about eating on the street, and take your prepared food from home. Not only will it be healthier, but also cheaper.
You may have noticed that with a period of “tightening your belt” in terms of expenses you manage to avoid this moment of many debts and payments, but if these are greater, it is time for you to start thinking about how to generate new income.
Long term goal
Once you have regularized your situation, save. Have you already paid debts and are you up to date with your expenses? Do not raise your level of spending, as long as you do not set a goal to save. A saving that includes the short term, that is, the next vacation; of medium term for the hitch of a house or go to study abroad, or long term, for when your retirement arrives.
Make your money pay using it in what really contributes to your life, and not that it ends up becoming a financial burden, otherwise you will live forever indebted and without reaching those long-term projects that give you satisfaction because they are the result of your own effort.