Monday, 31 July 2023 06:25

Improve your personal finances with the following tips

Written by Evelyn Alas

1. Detail all your expenses: This point will take you a little more time, since you must detail all the money outflows, no matter how small they are, to see what is the total of your expenses.

In the future, it will be easier for you to update the expenses in your budget, not only because you will already have the habit and the skill to identify your expenses, but also because there will be many recurring expenses (those that repeat month after month) that you will already have located.

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2-. Work on reducing expenses: This is another of the most important tips to improve your personal finances that we can give you.

The only way to get more money is to increase income (which is not always easy) or reduce expenses. Once you have them in place, you will see that you have a lot of room for improvement, especially in those that are not destined to cover basic needs. To help you in this purpose, we remind you of this article on how to reduce monthly expenses.

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3- Beware of ant expenses: We understand by ant expenses those expenses that we make almost daily and to which we do not give importance because they are a small amount. But 'a few make a lot', so it is important that we keep these expenses at bay so that they do not harm our personal finances.

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 4- Avoid impulse purchases: Another tip to improve your personal finances is to improve your shopping habits. One of the main enemies of financial health is impulse buying. Normally, in these cases, we buy things that we do not really need and without having stopped to reflect and compare prices or market options to acquire the one that best suits our needs.


Translated by: A.M