1. Make the money work for you by investing

 A good option for this model is the fixed term with the tool of compound interest.

When you invest, the financial product in which you decide to invest will generate a return, which is the "payment" that the financial institution will make to you for the risk of putting your money to work with them.

2. Learn to love budgeting

Knowing exactly where your money is going is one of the best ways to take care of it and know how much you must use it properly.

3. Put your money to work in a savings account

Putting your cash in an account is very important, so select the one that gives you a return.  Some savings accounts offer a small amount of interest, allowing you to build up a savings fund over time.

4. Save in your retirement account

It can also become your investment account if you decide to make voluntary savings, as these are invested in the market and have the potential to grow exponentially.

In addition, these contributions are tax-deductible and can even generate a tax refund when you file your annual tax return.

Translated by: A.M