How to manage your personal finances

Through these points, have the facility to plan your spending, deal with contingencies that will arise, meet their financial goals and save, so you can have peace of mind for you and your family.

1 .- Check your heritage. Subtract all the properties the total of what you do not have or what you owe. This operation will result in a lot of money, which could be your family budget. Do this monthly to determine if the actions you are taking are the right ones to improve their personal and family economy.

2 .- Learn to organize. Be aware that the main thing is to pay its debts ((check here payment plan debt faster) rather than trying to save money.


If you currently have a debt that charges low interest rates, analyze, and if your financial plan allows, probably not necessary to pay all of it to non-capitalized and able to spend that money to other areas, such as save. Decide what issues are top priority, which are closer to reach and which best suits meet.

3 .- If possible, try not to spend the money you receive will increase or additionally, for example, was paid money that was paid a bonus for productivity, profit sharing, overtime, bonuses, etc. . Better save it!.

4 .- Reserve a portion of your money for emergencies. It is very important to have some money available to cover emergencies such as medical care for a family member, preferably, ensure that this money is invested in a bank account that is safe and who may use the money in a suitable time and earn interest above inflation. If you use this money only for emergencies and contingencies, will help you not make "money saved" in "cash for emergencies."

5 .- Consider investing your money on insurance. If you intended steadily as part of your monthly, quarterly or semiannual certain amount of money to keep you protected your home, family health, their self and their most valuable belongings to the time when unfortunate events occur and covers your insurance, will not be financially strapped. Update your policies at the right time, consider the inevitable are the few things that are not planned and can damage its economy and financial plans.

6 .- Use your credit card properly, try not to use much his or her credit cards, remember they are for the unexpected or take advantage of any opportunity that they offer. Keep only the needed and use them sparingly.


Click here to learn more about the proper use of your card and how you can save and win with it.

7 .- If you do not deposit their salaries in a payroll bank account, open a savings account or checking account, depositing your salary and organize your money through your account and not spend it all at once and can manage the best way.

8 .- Take into account and consider all possible sources of income and if you can find new ones, for example, consider the possibility of starting a new business, to sell what you no longer use and even calculate the amount of your pension.

9 .- If the case permits, it is best to plan and manage the family finances with your partner, so both will be aware of the movements of your money and etre both can give good and better ideas to use it.

10 .- Coordinate if you have it, your advisor responsible for keeping their family finances and together review and monitor bank statements, receipts, investment reports, contracts, expiration dates of policies insurance, etc..

11 .- Believe it or not, it is important to keep in mind and determine how much you have in your Afore he retires.


Do the math according to your current salary and assuming that it is constant, along with the increases that will logically about the economic situation of the country also think that if prices increase, increase your salary.

Find out how much you have already accumulated so far and if its Afore has not placed a lot of resources, it may be because you are very young or have little time to contribute in this system. This must include projecting the amount of his retirement at the time of retirement. If in doubt, consult your particular case with the consultant Afores.

12 .- Investigate options to help you raise the money they receive at the time of his pension, for instance through aphorisms or hiring of a life insurance or retirement plan with an independent.

13 .- Confirm your credit history, so you know if you can get credit at the time required and according to their plans, goals and objectives.

14 .- If your credit history are not very good, then do everything possible to improve pay what is necessary.

15 .- If you pay taxes as an employee, always stay up to date, and a statement outside the time limit can cause a serious imbalance in its finances, as well as the amount you pay will have to cover fines and surcharges accumulated.

16 .- You might think it's too early, but it's best and most important, your will be done, so you can make in life that their heritage is in good hands, plus it will prevent them from their loved ones, who have to perform lengthy and costly procedures.

17.-Keep in a safe place all important documents like account statements, contracts, insurance policies and everything else related to your finances and having to do with his family. It is very important that your spouse is even aware of this place, so you can find them in a time of emergency.


The place can be a safe in the bank or at home, also have handy a copy of them elsewhere, because for some reason if the originals are destroyed or lost, the copies need to take the steps and check the authenticity of these.

18 .- Always be prepared to face any situation, of course nobody wants to go through a divorce or death in the family, but it is better to be cautious.

19 .- Ask for help if you feel unable to comply with these tips to improve their personal bond, get close to someone you trust and who also has knowledge on the subject, as a financial advisor.

20 .- Do not be left with doubts about how to manage your money or your adviser is doing, rinse, research and never invest in anything you do not know or do not understand. And if in spite of this fails to be quiet, do not hesitate to ask for other opinions or take their money elsewhere.



source: economia.com.mx