Discover how to manage your finances, especially if you don’t have a fixed income.
Just as you prepare lunch with ingredients available at home, or organize a family outing for your days off, planning your expenses is necessary to organize your resources and meet your goals with peace of mind.
We know that planning your financial decisions can be especially challenging if the money that enters your account each month is variable.
Therefore, we suggest you prepare a budget based on family conversations, daily savings, and creativity.
6 keys to organizing your finances
Remember the following tips to control spending in your daily life:
1. Review your expenses and those of your home, and set goals
How about taking monthly stock of your personal and family finances? As a family, you can devise ways to reduce expenses, set goals, and celebrate them at the end of the month with a dinner or a movie night.
2. Reevaluate the importance of some expenses
Start with small changes, such as buying less food on the street or getting around by bike or on foot. They can make a big difference in controlling your budget.
3. Examine your debt and make decisions
Make a list of debts that come from credits, loans, and credit cards. Seek financial peace of mind through refinancing or the search for better conditions.
4. Set aside money daily to pay debts
Do you have loans, credits, or debts in general? Avoid waiting until the last day to cover them. You can divide your monthly spending by the days of the month and set a daily savings goal. If it is a semi-annual or annual expense, set a goal per month.
5. Generate extra income
Are you short of money? Think of an activity that you enjoy and that can help you meet your basic needs. You can involve your family and together design a project: desserts, crafts, or gift boxes. You have a world of opportunities in front of you!
6. Be cautious about spending more when there is more income
If one day you receive a higher income than you are used to, set aside a portion of that money to cover the days when income may be lower.
Finally, we recommend subtracting your mandatory expenses, daily expenses, and debts from your monthly income. This way, you will have clarity about the money you have available, and it will be easier for you to save and take care of your pocket.
