Financial Organization: 4 Tips to Get Your Accounts in Order
Cutting spending and saving money can be a pain if you do it unplanned.
Getting financially organized is a matter of implanting new habits in the routine. To help you with this complicated task, Super Perkins prepared some tips:
1. Spend less than you earn and maintain financial organization
The first step to improving your financial organization is to spend less than you get. To achieve this goal, the main tip is to keep a spreadsheet for spending control, noting all the expenses of the month and how they were incurred (credit, debit or cash card).
With this, you will be ready to start an annual budget, with all your expected expenses, such as IPVA, IPTU, school and other fixed expenses. Super Perkins can help you with this task: just enter your internet banking details and it automatically pulls and categorizes your spending and earnings in less than two minutes.
2. Eliminate Your Debts
Before saving money it is important to eliminate your debts. It is essential to set up a financial organization so that debts are settled. To delete them, follow these steps:
1. List your debts;
2. Contact creditors to find out the current amount to pay them in sight;
3. Counter-bid on this amount by calculating lower interest rates and longer financing so that the installments will fit in your pocket;
4. If you have money saved, pay cash;
5. Do not ask new questions.
3. Set up an emergency fund
Having an emergency fund capable of covering your home expenses for some time is an unforeseen event that is essential to maintaining your financial organization. If you follow the 50-15-35 rule and save 15% of your income per month, you will achieve three salaries in less than two years.
It is also important to keep this money in any application that ensures liquidity so that the money does not get stuck and you can access it anytime. Saving is a good option because of this and also allowing you to schedule monthly transfers. Think of your emergency fund as a paid monthly bill to yourself.
4. Set goals
After setting up your emergency fund, you are ready to take on another financial priority. What is your next dream? Travel? Buy a car? Check in a property? Setting short, medium and long-term goals helps save money. One of the best things is to see your investments pay off for a dream or wish.
Maintaining a good financial organization to save money may seem difficult at first. But remember that there is always a way to reduce spending.
Set limits on your budget and, if necessary, reduce the use of credit cards and postdated checks. Get into the habit of jotting down and checking your expenses on a spreadsheet or automatic financial control tool like GuildBayment, so you don’t risk seeing your money go away at the beginning of the month.