Monday, 04 April 2022 02:59

Five tips for women's success in personal finance

Written by Evelyn Alas

Women are increasingly playing a fundamental role in the financial decisions of families thanks to their qualities in money management, savings and medium or long-term goals.

Their contribution is not only determinant for the growth of the country's economy, but also promotes the development of new companies, promotes work and reduces gender gaps. See more in personal finance.

1-Keep expenses and income organized: It is key in personal finances and household economy to know what are the monthly income and expenses. Thus, you can determine by means of a list: fixed and variable expenses and do not spend on unnecessary things.

2-Maintain savings and create an emergency fund for possible eventualities: Once the monthly income and expenses are defined, it is possible to determine a percentage of them, with the objective of saving to meet a goal or have an emergency fund that provides for possible eventualities such as health problems or home repairs.

3-It is important to visualize the expenses and plans for each month: In each month there may be an extra expense or a new income. It is important to determine what the income will be used for and if you do not have to pay for something extra, you should avoid running out of money with unnecessary expenses and encourage savings.

4-Access financing tools in a conscious way: In case of needing credits for the support of the household or to promote an enterprise, the credit options should be evaluated and go to financial entities that have benefits or better interest rates for women.

5-Find something to invest: Having good financial habits is not only about saving, investment is key and the best thermometer for financial health.