7 Powerful Financial Tips I Would Have Wanted To Know In My 20S

7 Powerful Financial TIPS I Would Have Wanted To Know In My 20S
7 Powerful Financial TIPS I Would Have Wanted To Know In My 20S

Introduction Of 7 Powerful Financial TIPS I Would Have Wanted To Know In My 20S

7 Powerful Financial TIPS I Would Have Wanted To Know In My 20S. The best version of yourself so you will be new around here consider subscribing the first recommendation is to create a financial calendar both of which this sounds a bit boring and is not like an idea of those life transformers but it can save you a lot of money not fear the number of people.

Analyze Your Expenses Financial Products

Who overpay late fees for not knowing when they have to pay their credit cards their vehicle loans and mortgages amounts of things and also knowing, for example, in the matter of credit cards at what time you can pay for purchase so as not to cancel interest at what time of the month you have it, it makes more sense, let’s say, do the purchase to be able to have a month and a half month to pay even.

If it is in a single installment or several the truth is that making a budget is very simple because it implies that you sit down and analyze your expenses financial products if you have credit cards and credit cards at what times of the month are you going to make those payments in an application such as.

The calendar on your cell phone with what is a recurring reminder of every month and so you will never forget me, the truth is that I am very forgetful and I use these tools to help me a bit but they fear to be clear about it and planning it at least the first time is key to later having excellent handling, on the other hand, a serious mistake that.

A Long Journey Financial Is Not Having Clear Interest

I see that even many very adult people make people with a long journey financial is not having clear interest rates or practically not worrying about their interest rates we talk about credits, for example, it is very simple illo purchase with a credit card put it at 12 months to 18 months to 36 months and pay monthly interest amounts for that purchase.

When another bank is willing to give you another credit card buy the debt of this credit card do what They call portfolio purchase or balance transfer and give you a better rate with which you reduce your monthly interest expense, simply not knowing this can cost you a lot of money depending on the number of debt hundreds and thousands of dollars and just knowing this even in a vehicle loan. You Can Also Read The Real Reason Most People Never Achieve Financial Wealth.

This was what I did with my first vehicle loan I was paying a let’s say a very large amount of interest because my risk profile at the beginning I was too young it was very high than when they had already been for 8 or 10 months Having paid this, I started looking for options in the market and I found that several banks are not willing to give me a better rate and buy.

The Truth Is That It Implies That You Seek To Make Movements

The debt from the Another bank that originally gave me that debt, then the truth is that it implies that you seek to make movements that you analyze and investigate that you may have to incur some expenses, some people see it as expenses because I had to do it at the time I know people who have done this with their house with the mortgage of the house as such these expenses.

The truth is that they can be considered an investment because they can save you a lot of money and know specifically the rates the conditions if you have insurance and everything else is key. third is perhaps the recommendation that we hear everywhere but we do not know exactly what it refers to and it is to maintain a budget but it is always asked as a budget so that suddenly.

I have it clear if it is to travel how much I am going to spend on tickets in a hotel in food in plans and others but in daily life that means that I can define how do I spend per month on food How much I spend per month on rent How much I spend per month on transportation How much I spend per month on tastes in fun and others and define a limit to each thing not because.

If You Get An Increase In Your Job Or Create A Business

We limit ourselves but because we want to take care of our relationship with money easily if we do not put a limit if we do not put a ceiling on each of these expenses can grow disproportionately and this is where we have the following recommendation and avoid lifestyle inflation is a something that is practically never talked about but.

If you get an increase in your job or create a business, you start to generate more money or for example, you were unemployed or you are a student and you get your first job and you start to earn more, your whole lifestyle will probably adapt to be able to consume all those new resources that you now have to spend all the money.

That comes to you each month this is called Lifestyle inflation and the truth is that it must be avoided at all costs because it means that if you start to earn even more money you will spend everything regardless of the amount and the truth is that there are sad cases of people who can earn more of 100 thousand 200 thousand dollars a year and they do not have a single penny left.

Finances About Personal Success

Because they adapt to being in debt to buy luxuries to trying to impress people who practically do not care who knows why but it is a habit and if you break that habit of starting to raise your lifestyle and you can live comfortably, peacefully, and happily with a limited number of expenses and a limited amount for each of these categories of expenses, you will be able to grow financially much faster, on the other hand.

We must be educating ourselves daily about finances about personal success anything that helps us can be a youtube video can be reading a book can be studying a course or any c many sources of information even if they are in some documentary on television about something about finances the truth is that we should not stop learning about money, personal finances, and personal success never in life so much so.

I would go as far as Now to affirm that every day there must be at least 10 minutes of financial education it does not matter if it is Saturday it does not matter if it is Sunday it does not matter if we are on vacation nothing matters every day we should learn a little more and already having the Circumstances if, for example, we are talking about a vacation.

Where you want to disconnect from technology, take a book and occasionally you can read a little and learn a little more, develop that skill more and in any case to train your brain a little to be more agile and more active the sixth recommendations ever in life never be a co-signer be co-authors practically have all the responsibility and obligation for the debt that another person is acquiring in fact in the credit score in the credit history.