Do not forget that you have to update the file with this data regularly.

2 - Set aside at least 10% of your income: Once you have clarified your fixed expenses, start setting aside 10% or more of your income to invest. This way you can apply this amount of money to yield interest and you won't have the risk of spending it on things you don't need. It is important to keep the focus on saving a monthly value because the results will come only in the long run.

3 - Understand the difference between need and desire: Reflect on whether what you are acquiring is really necessary in your life or just a desire, since many times people buy things on impulse. So, from now on, always make an analysis when you are going to buy something new. In this way, you will create discipline and have more control over your money. These unnecessary expenses can harm your financial goals.

4 - Compare prices: For many things you buy, there is more than one store or brand option, so you can compare prices before purchasing a product or service. This will allow you to make more informed cost-benefit decisions after researching better prices and this can be done through the Internet.

5 - Avoid using your credit card: Making purchases only when you have money is the most advisable to have a healthier financial life. This way it is possible to save more, since you will spend only what you already have on hand and you can find stores that offer discounts for cash payments.

Translated by: A.M