First save money and then spend – Debt

money

We have heard the phrase: First, save money and then spend. Have you thought about what you could achieve if you save before spending?

It is a recurring issue that we have the tendency to save the money that we have left after we already spend on our tastes, instead of the habit of saving and what is left of what we have destined to our savings, spending it.

Has it happened to you?

saving money

This is a difficult habit to break, and it is not that it will stop happening overnight, but it is important to raise awareness about it so that we do not run into an empty wallet at the end of the fortnight, savings account in zero and an emergency fund in an emergency.

But, what are some of those healthy financial habits that we could be acquiring and making part of our lives to enjoy healthy finances?

We leave you here four habits that can change your life, dare to try them.

1. Have a clear vision of how to spend.

This is achieved from the fact that each month you put the payment of your fixed expenses without delay, relying on automated systems, such as direct payments for services and credit cards.

2. Take advantage of your resources.

save money

This is not only about not buying for buying, but also taking advantage of everything you still have and can be useful because before buying or disposing of clothes, shoes or household appliances, there is the option of being able to repair them and continue taking advantage of them for all the life they have left.

3. It is not necessary that you have all the credit cards that they offer you.

3. It is not necessary that you have all the credit cards that they offer you.

The more credit cards you have, the more you will spend and your ability to pay will be less, causing you to get into debt and therefore, your finances are in trouble. Those cards that are not necessary and are rather a luxury, you can do without them.

4. A healthy way to save and start generating efficient financial support is by separating 1% 0 of your salary month after month .

save money

The joke in doing this is not to spend it as soon as possible, but to create an emergency fund or to reach some larger economic goal.

Now that you have the tools to first save money, prevent and improve your finances, do not throw them on deaf ears, better put them into practice and you will see that after a few months you will not be snapping your fingers.

Do you want to know the warning signs that your finances are at risk? We leave you this blog? 7 Signs that your Personal Finances are at risk.