Finances are a sensitive but vital issue, and it is important to become aware of it, in order to have a quieter life and to enjoy every moment, without remorse or worry.
That is why, the following warning signs will be very helpful, to be able to detect in time if you are addressing your pocket to a vicious circle of indebtedness. The essential thing is to act fast and regain control.
1. . Expenses instead of investments
If every month, you notice that within a few days of receiving your salary, you already have severe financial limitations, stop and reflect! This behavior indicates that by having money in hand (or even before), it is already distributed among other debts or whims and temptations.
How can I improve? Before making a purchase – from the simplest as buying new clothes, to complex issues such as acquiring a credit – ask yourself if it is really indispensable. It is also good to question whether the price of the product or service is justified with its quality and the use that you would give it.
This does not mean you cannot “treat yourself” from time to time, but if these are your priority before paying basic necessities, food, housing, health, etc, it is not the best for your economy.
2. “I can’t save up!”
Saving is an important and healthy habit that not only forges a discipline, it also supports you in times of crisis and allows you to carry out goals and desires.
The key is to save between 10% and 15% monthly, according to experts in the field, or even start small. However, if you see that you have no funds to save, open your eyes wide!
The best thing you can do, is sit down to plan your monthly expenses and make adjustments to them, or, consult with a professional to guide you.
3. “I don´t knwo how much I have”
This point does not mean that you should know every day exactly to the last penny you have. It doesn’t have to be so demanding, however, it is good that you have a basic notion and keep track of the significant investments you make every month.
Observing movements on your credit cards is also a good habit. The point you should not reach is to see the notification of “insufficient balance” and be surprised, and / or use the credit card as a substitute for cash and debit card. Since with the accumulation of interests, you can end up paying more than things are really worth.
Everything you can do to learn about finances, savings, etc., will be an advantage in your favor to avoid falling into debt. Try to reflect on your actions for a long time, observe your accounts and be humble, ask for help if you need it at any time.
Do not be afraid of the subject, order and good habits will facilitate this and many other aspects of your day to day!
