Organizing your finances with personal financial control is essential to be safe and put an end to the monthly headache of trying to figure out where you spent the most and why the month is barely over and the account is already in the red.
For that, you need to do a self-analysis and know your financial habits to know where and how to make adjustments that are efficient for you. This makes it easier to change your behavior and create a habit of controlling your hard-earned money.
Ideally, you should start controlling expenses by writing down everything that comes in and out. Any resource is worth using: it can be in a spreadsheet in Excel, in Word, in applications, a passbook, a pad, anything. In this article, we bring you unmissable tips for you to be successful in your personal financial control. Check-out!
Set goals to achieve goals
When it comes to personal financial control, it is very important to define spending priorities and objectives to set the goals to be achieved. When you have an end point to reach, it is much easier to organize, because you will have a reason. Achieving that goal will help you think twice before committing your money to something else.
And anything goes: change a car, renovate the house, travel, set up your own business, in short, you are the one who determines. From there, the path to reach it will certainly be easier.
Record all entries and exits
Now that you know what you want and why you are saving, it is essential to write down everything that goes in and out to know where you are spending it unnecessarily.
To be able to make a cash reserve, you need to spend less than you earn. This observation seems obvious, but few manage to have this notion and control accordingly, and end up exceeding the limits.
But know that it is possible to have control and even save with your credit card, when buying from the market, on daily expenses. Now that you have it all noted down, you’ll be able to know what’s a priority when saving.
Compare prices before buying
Personal financial control may seem like work, but making a price comparison before buying anything can give you great surprises. In addition, you will notice large price differences for the same product in different places.
As time is our most accurate asset these days, it is no longer necessary to research prices on the spot. The Internet is our great ally and we can consult everything without leaving home before committing money to any purchase. So, use and abuse the search engines until you find the best offer.
Pay cash when there is a discount
As we are used to inflated prices, the Brazilian culture of parceling out purchases is so natural that we forget that we can have a good discount when buying cash products and services.
That is why, after consulting the best price, it is better to save the money and cry for a discount than installments as far as the eye can see, with exorbitant interest. And, of course, don’t forget to write everything down in your expense spreadsheet to make an efficient personal financial control.
As you can see, a few simple changes of habit are enough to make your money pay off and succeed in personal financial control, making it possible to achieve much bigger goals and dreams.