If you are in debt then it is important to learn about financial education. With just a few adjustments to your budget, you can already feel positive signs.
Therefore, we will present some tips below that you can apply in your company or at home to improve your budget.
How to learn about financial education? Check out 7 practical tips!
To purchase a car, apartment, or simply travel, planning is necessary. To apply financial education in practice, simply follow the steps below:
1. Learn to save part of your income
Unfortunately in Brazil, many Brazilians do not have the habit of saving. However, it is advisable that you learn to set aside around 10% from your salary at least.
For those who have a regular income, it is possible to set aside at least 1/10 to cover emergency expenses.
2. Keep track of your expenses
This type of control can be done using a cell phone application. Having a budget spreadsheet is extremely important for financial education.
This way, you can list all expenses to eliminate unnecessary expenses.
Expenses within your budget are equal to (9/10) of your entire income, including freelancers and overtime.
Therefore, take care of your bill schedule and avoid interest on late payments.
3. Have other sources of income
With the internet, it is possible to combine CLT with other forms of work, investments are an alternative for those who have a little more understanding.
However, there are many ways to have an extra source of income from the internet.
If your focus is dealing with investments, it is important to create an investment portfolio and count on the help of a specialist, study the short, medium and long term objectives.
4. Be careful with losses and learn how to protect your money
For those who want to enter the investment market, it is extremely necessary to be very careful with high profits, do not trust too much in million-dollar solutions, to avoid problems it is necessary to check information such as: risk, return, liquidity, reputation of the institution.
5.° Create a routine to earn, save, invest
To start creating financial reserves, you must learn to earn, save and invest, this becomes a habit for your routine, be careful not to end the month completely zero or with debt, this is a sign that your financial life is not goes well.
6.° Develop budgets
This procedure is completely valid for individuals and companies, after all, in both cases a budget is necessary, with a good budget we can detect:
- Tracking your expenses;
- What are the areas with the highest concentration of expenditure percentages;
- Where can we make cuts?
7. Choose a financial manager
Currently, we can learn about financial education in a natural way, through financial applications, with the help of these applications we have total control of our assets, there is also control of income and expenses, all in a single environment.
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Conclusion
Therefore, financial education is a subject that should be mandatory in schools from pre-primary, so that children can become accustomed to numbers from a very young age. Currently, we can find blogs, free courses to learn more about this topic and ensure a good financial health.