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The most
common mistake of all is not knowing what is "a credit" and you will
say, but we all know that a credit is easy is a loan of money that one party
gives to another, and that money you agree to pay in installments or in one
payment with an additional interest but what happens is that people understand
that when it is a credit card is as if they were paying with your debit card.
Always remember that this practice is dangerous, you must know that the money
you use must be paid before the dates set for this or you will end up paying
high interest.
Today we
will give you 3 tips to avoid this and other mistakes when buying and investing
your money.
1. Create a budget that clearly defines your
financial objectives.
o Make your
budget written or digital so you can review it every time you need to, there
are applications that help you to keep these budgets to the letter.
o Write
down your fixed expenses such as health insurance, car, food, education,
mortgage, house, etc.
o Visualize
where you want to be financially in the next 5 years (minimum) and 10 years
(maximum) and write down your goals.
Goals can
range from improving your financial status, restructuring your debts,
increasing your emergency fund, earning extra income to supplement your current
income, etc.
This tool
will help you reach your financial goal.
2. Develop your savings goals
The ideal
is to start small and increase your goal as circumstances evolve. Once you have
defined your budget and objectives, now comes the second step: saving.
They say
that the most important thing is to make the habit, not the amount you start
with. Make a sacrifice and start saving!
3. Do you
want to invest your money? Invest only what you are willing to lose
Remember to
invest in assets that you have knowledge of and remember to only invest the
amount you are willing to lose. NEVER! Put at risk the money you may need.
These are
the 3 tips that will help you improve your finances 100%.