Controlling personal finances can be easier than you think. With just 5 steps, you can organize your financial life, know how much you earn and how much you spend, the areas where your main expenses are and where you can cut expenses and save. Here’s how to take care of your personal finances in 5 steps:
Use apps to manage your personal finances
Applications are the best friends of anyone who wants to start managing personal finances successfully. Among the options for Android is Money Wise, which allows multiple accounts to be created, has password protection and features daily, weekly and monthly charts, as well as summaries. Personal Finance, also for Android, allows the user to identify their expenses and income. From there, it calculates the monthly balance. Another interesting feature is the sending of e-mail to alert about the expiration of accounts. An Money and Budget, from the same operating system, is an app that operates with multiple currencies, tailored for those who travel abroad a lot. For iOs, Minhas Economias is an option for those who want to manage accounts of several banks and credit cards, in addition to investments and financing. Money Care works as a basic budget spreadsheet, showing bills paid, overdue and payable. Finance, available for Android and iOs, is one of the most complete for controlling personal finances, despite using more complex financial language, especially for those who are starting to manage money.
Follow tip sites for financial control
Tips and guidelines are never too much for anyone who wants to learn how to organize personal finances. So becoming a follower of websites that provide this information can help a lot in managing finances. Minhas Economias addresses issues such as the best ways to establish financial goals and how to know and control your spending. Mr. Dinheiro bets on generic issues related to personal finances, such as ways to escape credit card interest and how to guarantee money for old age. How much it costs to go to college and how much you earn by saving a dollar a day are some of the tips covered by Organizze. At GuiaBolso, you have access to guidelines and tips ranging from how to take care of family finances, how to use your money well and education tips for young people. Information never hurts.
Save for emergencies and to make your dreams come true
Creating an emergency fund is essential for two reasons. The first is to have an amount set aside for unforeseen events, such as unexpected expenses with medical expenses, fines, school supplies and everyday expenses in general. Having an amount set aside for this purpose saves you from having to borrow or overdraft if you need extra money. The second reason is also noble: saving allows you to have enough financial resources to make your most expensive dreams come true, like going to graduate school, buying a house or traveling abroad. Organizing your personal finances will be worth it.
Avoid term payments
Term payments are among the main pitfalls for those looking for a healthy financial life. This is because these purchases are often made on impulse. That is, people do not even analyze whether they will be able to afford the installments agreed in the coming months. To keep your personal finances up to date, always prefer to save to buy the good you want in sight. In addition, there are still chances of getting a good discount by paying the full amount of the purchase on the spot.
Track spending daily
The best way to manage your personal finances is to keep track of the expenses that have been made on a daily basis. Thus, it is possible to put the brakes on if you have extrapolated the budget in some category and even set your financial planning for the following month.
Taking care of your personal finances is simpler and faster than you think. Ready to take the first step?