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Currently, personal finances have become a very popular topic, since our environment has become very challenging from an economic point of view, but thanks to this, more and more people seek to provide solutions to their economy at this time and to the future. So, today I bring you seven financial purposes to fulfill this 2021 .
1. ONE MORE: We are going to create an additional source of income, this is in order to avoid risks in your finances and for this you do not need to have another job, rather, highlight your talents and skills that help you generate income, such as for example: sell a product or service, give advice thanks to your experience and knowledge in a subject, etc., once you carry them out, you will notice a positive change in your personal economy. If you do not know where to start, I give you my ebook 5 strategies to earn extra money .
2. HORMIGA EXPENSES: They are those imperceptible expenses that you make during the month and that little by little are reducing your economy, however, when you are aware of this type of cash outflow, you may notice that the morning coffee, the Every day in restaurants and even outings with friends have a serious impact on your wallet, therefore, one of your purposes for this 2021 should be the reduction or elimination of this type of monetary outflow.
A simple way to achieve this is to record your money in and out, in an application like Monthly Budget that is free for IOS and Android , in this way, you will become more aware of how much you spend and on what, to finally eliminate emotional expenses of your life.
3. POSITIVE CASH FLOW: It is nothing more than trying to reach the end of the month with money, how to achieve it? Just putting the two previous steps into practice, eliminating unnecessary expenses and generating more money thanks to an additional source of income, in this way, you can maintain your lifestyle without having to resort to debt to achieve it.
4. ELIMINATE DEBTS: It is necessary, since the more debt you have, the more your expenses will increase, moving you further and further away from your financial freedom, however, achieving it is possible, for long-term debts (car, house) it is It is necessary to continue with payments in a timely manner and to settle those that are short-term it is necessary to no longer acquire new debts, in this way, you will become less vulnerable to any economic situation.
5. MAKE MORE MONEY: Speaking of investments, let’s avoid earning and spending, because that way you will only achieve a negative cash flow or become a creditor of debts, the best thing is to make an investment plan to multiply your money, make three plans To invest, you can start with 100 pesos and CETES is the best option since it is the vehicle with the lowest risk because it has the backing of the government, the second is your Afore, see as an increase in the amount for your withdrawal, as well as When the time comes, you can maintain your current lifestyle. If your accumulated capital exceeds 5,000 pesos, you can invest in crowdfunding to generate a little more attractive returns and finally the most important, invest in your retirement plan, according to data from various surveys, 85% of the population cannot enjoy a decent retirement because you never invested in this plan, do not leave your future to chance, invest.
6. PROTECT WHAT IS MOST IMPORTANT: When you go through a time of complicated financial situations, the riskiest thing is to lose what is most important to you, in other words, your assets, starting with your life, your house, your health, your car; how do you do it? Through insurance, find a way to have the right alternative, look for a suitable advisor, a reliable company that provides you with the necessary support, ask yourself how much are the years of your working life worth? I think too much, seek to protect what is most important in your life.
7. REWARD YOURSELF: When you realize that your finances are in order, you can reward yourself, if you are already reducing your debts, you are increasing your income and the investments are already generating returns, it is positive to give yourself an incentive for the good management of your finances . If you put a reward to the fulfillment of a goal, it will be an incentive to keep going. The rewards are good and they work as long as they are moderate.