That the control of your money is in your hands, you already know, do not you? However, day-to-day running and lack of discipline to keep up with expenses are some of the challenges that must be faced in order to avoid financial mismanagement.
Thinking about it, Good Credit gives you tips on how to control your debt and keep up with your personal finances.
To begin with, you need to decide to change or improve your financial habits from now on. Only then will you be able to plan financially to achieve your short, medium and long term goals. Now that you’ve made the decision, come on!
Clarify your income and expenses
The first step to controlling your debt and keeping up with your personal finances is to clarify your income (salary and extra income) and expenses, such as rent, financing, energy and water bills, tuition, among others.
Who does not usually follow these values, can print the monthly statement of the last three months and calculate the average amount spent.
Once this is done, the second step is to write down the values to know the main inputs and outputs. It is also essential to keep track of changes in values, for example, when the energy bill starts to rise.
Track the automatic debit
Registering charges in the automatic debit is an easiness these days, not to forget the payments and thus avoid having to pay fine and interest.
However, the registration of charges in the automatic debit deserves attention. This is because, as it is a scheduled payment, the charge may go undetected in your checking account.
So if you use the service offered by banks to pay your bills more peacefully, include the charges in your personal budget and control your debt. Create alerts on your smartphone to keep track of your bank balance periodically.
Keep an eye on rates
Do you know what the fees charged by your bank are in your checking account? Banking services are not usually free, so it’s important to stay within the values that your bank is practicing.
Many times, amounts are charged to your account monthly without you noticing, such as account maintenance fee, service fee, deposit fee, among other services.
If you have debt, negotiate
Anyone who is in debt and wants to keep up with personal finances needs to negotiate as soon as possible. It is no use having money in the account or even a financial reserve if you have some outstanding debt, because the debt tends to increase rapidly.
Do not think twice: to keep up with personal finances, prioritize the repayment of your debt. The sooner you negotiate and pay off your debt, the more chance you have of recovering credit.
With a personal loan, you can focus all your debts on one, pay less interest and still organize your financial life faster.
Cut or cut expenses
Keeping up with personal finances means having financial balance, that is, nothing suffocates every month to pay your bills!
So if you’re tired of feeling overwhelmed with bills that need to be paid every month, it’s time to reevaluate your expenses.
You should not only spend less than you earn, but also get a “breather” in your account, so get out of the “squeeze.”
To do this, cut unnecessary expenses like services that you use little. You can also try to lower your values by negotiating with providers. It takes attitude to control your debt!
Escape credit card interest
The credit card leads the ranking of the highest interest in the market. To keep up with personal finances, pay your credit card bill in cash and run out of high interest .
The minimum payment and installment of the debit balance are options offered by the credit card operators, but the debt can be much more expensive, as a consequence of the increase of interest of these services.
So a good solution is a personal loan that has lower interest rates. Good Credit can help you find the personal loan for you to get rid of credit card interest once and for all!
When it comes to money, are you more on the economics side or not? Anyone who is looking to keep up with personal finances and not spend “perrengue” every month, needs to save money and have a lot of discipline with unnecessary spending.
Bad behavior harms your goals and can even ruin your financial life in no time. If you have never looked at your daily expenses, there is a task that can help you think about whether you need to consume or not and that can make it easier to manage your debt and save money. Reflect and change!
Make a Reservation
Control of your debt is up to you. If you do not want to be on hand when you need money for possible emergency situations, make a financial reservation as soon as possible.
Now, if for some reason you need money and do not have a reservation for that moment, run away from overdraft, which has one of the highest interest rates on the market.
Choose a personal loan with lower interest rates and installments that fit in your pocket and do not weigh in your monthly budget. Personal loan is an alternative for you to keep up with personal finances!
Set goals and goals
Do you save money just by saving? So it’s time to set your financial goals. If you have not stopped to think about the plans with your money, you can do this at any time. This makes it easier for you to maintain financial discipline, since there are one or more goals behind this action.
When you set goals, you can not forget goals to achieve them. For example, if you want to renovate your home within a year, you must set the amount and time required to do so.
And if you need a personal loan, count on the Good Credit!
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We always publish tips to help you understand everything about loan, organize your accounts, get out of debt and win your dreams. Count on us!