Monday, 03 July 2023 03:51

4 facts you wish you had known before you were 30 for healthy finances

Written by Evelyn Alas

Reaching adulthood can be a complicated topic, especially when it comes to finances.

How much of your income can you spend? Although there is no strict rule on how much you should spend, a good suggestion to control the flow of money can be that your monthly income is your 100% and you only use 30% on extras or purchases that are not your priorities and use the other 30% on taxes, rent and utilities.

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How to invest with little money? The emerging projects that you are passionate about or startups, in many times can even influence your direction and thus, support the growth of a project with which you identify.

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How to organize your money? Now, in order to keep order and continue to take care of the growth of your money, it is essential to dedicate time and patience. Take at least 30 minutes to make your spending and budgeting plan. The priority in your planning has to be based on how much you want to save and save it.

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Is it necessary to save even if you invest? Saving is the key to be able to solve an emergency and guarantee a good future financially speaking. It is also an action that can help you achieve goals in your life, such as a short or medium-term study, a trip, buying a property or starting a business.

 

Translated by: A.M