Better managing your finances allows you to use those additional savings to pay off any debt you may have, designate them to your pension or spend them on your next vacation. In this video that we share below, you are shown precisely the key to managing your finances in a more efficient way.
How to manage money to avoid debt
In this video on how to manage money to have more income and avoid debt, you will find an Excel sheet specially designed to manage all your expenses. These are tips that will help you take control of your finances by developing a budget that although many think it is difficult, it is actually quite simple.
You must understand that by taking control of your money, you have less chance of ending up in debt, much less likely to be caught in unexpected costs and on the contrary you have more opportunities than to increase your credit rating. You can even positively qualify for a loan or mortgage.
And not only that, knowing how to manage money allows you to be able to detect those areas where you are spending unnecessarily and you can make your income yield. For this it is necessary that you consider the expenses of your house, the costs of your lifestyle, contracted financial products, family expenses such as transportation, food, clothing, leisure, vacations, etc.
The important thing is the habits
When you realize that you are spending more than you are making, you should pay attention to those areas where you can reduce expenses. If you want to know how to manage money to create abundance, this is a great way to start. Almost immediately by making some adjustments to what you are spending, you will realize that you have more money and that you can actually make it perform more. In different websites you can find several discussion on the topic of Buying or renting a home? The most important decision of your life. An evergreen Wealth Formula review on savings that may interest you is how to save money fast and easy, with free tools and templates and go to Value Network and Collaboration site where you can find the finer opportunities for the Best Wealth management.
Tutorial for Excel template
And this to manage finances more effectively is not a matter of one person, this must be something collective that involves your whole family. For this reason, it is convenient that you talk with your family members and let them know your financial management plan so that everyone can follow it. This will help you determine how much money is available and agree on what each member of the family will receive.
So how to manage your money the easy way with a formula?
It is something quite simple. You are going to divide your salary into two parts: the first part will represent 70% of your salary, the support fund.
The second part will remain with the remainder, that is, with 30%, the growth fund. This second part, or fund, will be the most important since it is the one you are going to use to build your wealth.