1) Educate yourself

You must start learning about personal finance, create more knowledge about this topic, this is the best way to build confidence to manage your money correctly and have a deposit that will get you out of trouble.

2) Check your credit status on a regular basis.

You should know your credit history and always keep it in mind, this is a file that tells about you and how you manage your money. Basically this tells lenders how risky you are and based on this they make decisions whether to give you a loan or not.

3) Create a budget

Create a plan, a budget of your finances, this will help you monitor your income and your monthly expenses, you can help yourself with digital tools like apps or go old school with an Excel document. Make sure you are not spending more than you earn and that you can save to develop your goals.

4) Pay off your debts

Make it a goal to pay off your debts as soon as possible, start by creating a list of all of your debts, include a current progress of your income, the minimum payment you must make each month and the interest rate of your debt. After you have all this information ready, determine how much money you can add to your debt payments.

Translated by: A.M