As you already know, having healthy finances implies that you already know your budget, you know what you spend on, you keep your debts under control and you have some money saved.
Now, achieving this does not happen overnight, especially since income is limited and expenses can seem endless. But if you want to keep your finances healthy, here are three keys that you should follow:
The management of finances should become a habit, as well as exercising or drinking water.
Keeping your budget is a task that you should dedicate a few hours every end of the month. Recording your expenses should be done daily or at least weekly, to know how you spend.
Just as you leave a space each week for cleaning the house or going out with the family, set aside an hour to update your budget, your expenses and pay pending receipts, to avoid delays.
If it is very difficult for you to know what you are spending on , use technology. There are different applications that can help you keep track and at the end of the week or month you can just add up the totals.
You can also use the application of the financial institution where you have your cards, there it is easier to keep track of everything you have paid with the card.
To create habits, discipline is also required. Saving and the way you spend is just part of it. If every time you receive your income, you immediately set aside a part for savings, over time, it will become automatic.
If before making any expense , such as going out to dinner, buying a new watch or paying for a subscription to any streaming service, you wonder if you should make that expense, over time you will avoid spending unnecessarily.
One tool that you can use for automatic savings is through the financial institution where you receive your income. There you can determine how much is going to savings and how much will be left for your monthly expenses.
And just like anything else, if one day you overspend or forget to save, the goal will be to maintain discipline and try again.
Before spending or acquiring a debt, analyze why you are doing it: Can you afford it? Will you get more than momentary gratification? Is it helping you build a better future?
This does not mean that you should never spend or that you can not buy something just because, very occasionally, the important thing is that you are fully aware of whether the expense you are going to make is for pleasure or necessity.
It means that all the unnecessary expenses that you have, must be controlled and you should never go into debt for them. While all the debts that you acquire must have a greater objective, such as an investment or increase your equity.
Although at first it may seem like a feat, follow these three keys and you will see how your finances begin to improve, especially since now you will know where your money is going and why, instead of seeing it disappear every fortnight.