High inflation, credit restriction, and unemployment are the main problems faced by the world in this period of economic crisis. And, we know that financial problems can directly affect our well-being, impairing our sleep and making us anxious. Therefore, amidst the insecurities that surround this scenario, to keep your health up to date it is important to keep your budget organized and run away from debt.
Some actions such as avoiding waste, reducing the time in the shower, replacing consumer items that are getting more expensive with similar cheaper brands, and avoiding eating out in restaurants can help to balance the budget. Here are some tips to maintain your financial health:
Take notes and track your spending
Map out your main expenses, separating them by groups (car, housing, food, education, etc), and put everything on paper. If you prefer, you can do this with the help of applications for smartphones or tablets. The next step is to add up and analyze all your monthly expenses periodically. This way you will know which expenses are unnecessary and where you can save the most.
Create goals
Most people do not establish how much they can spend and, consequently, this generates a lot of late worries, since many times the budget ends up being overdrawn. So set goals of what you can spend on each spending group. That way you can make offsets between them.
Compare your budget with previous months
Comparing your current expenses with the previous months is important to know whether you are overspending or achieving your goals. It is through this comparison that you will understand if you need to change your goals or your consumption behavior.
Ask yourself about your spending
This is one of the most important tips. Always ask yourself questions about the necessity of each expense. Examples: "Do I really need this outfit or can I buy it later?", "Can I wait a little longer to change the stove? Try to think about which unnecessary expenses you can eliminate or postpone. Here are some measures that will help you keep your budget balanced:
- Avoid eating at restaurants and snack bars;
- Don't take on new installments;
- Review your internet and TV bills;
- Give preference to seasonal fruits;
- Replace consumer items with similar cheaper brands;
- Search for prices and promotions.
In the case of commemorative dates, or birthdays of relatives, try to buy gifts in advance and prefer online stores, since prices tend to be cheaper than in physical ones.
Save
Saving is almost always a difficult task, but after organizing your expenses and setting goals, try to save a little money every month for the future. Also, always try to save your Christmas bonus and not spend it all at once.
