Educación Financiera: ¿Cómo mantener tus finanzas equilibradas a pesar de la inflación?

How to keep your finances balanced despite inflation?

The ABC of BCP shares these 5 tips for you to keep your personal finances balanced.

This October 5th, the Day of Financial Education is celebrated in our country to promote that more and more Peruvians can correctly manage their personal finances. Although it is a complicated context due to the high inflation we are experiencing, there are some strategies to deal with it and maintain financial well-being.

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Regarding this, the ABC of BCP (www.viabcp.com/abcdelbcp) shares these 5 tips for you to keep your personal finances balanced.

1. Create a budget and update it frequently

Build your budget in Excel or with the tool you prefer, where you indicate your income and expenses. Define fixed and variable expenses so you know how much money you are allocating for each responsibility.

When prices go up, it’s important to constantly update your budget and reclassify expenses. For example, you can allocate a little less money for entertainment and thus have more money for larger payments and savings.

2. Save and invest

Not only should we save in times of inflation, but it is an important time to do so. Remember that you must save at least 30% of your salary. Also, to beat inflation, it is important to invest, because many times the interest you earn with savings accounts is not enough to face it.

Look for investment alternatives such as launching a business, opening fixed-term accounts, investing in mutual funds, among others.

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3. Avoid ant expenses

In these times we must be more careful with ant expenses, which are these expenses of small amounts that when combined add up to a considerable amount. For example, the coffee or sandwich you buy at the office every day.

4. Eliminate unnecessary expenses

In a digitized world, many of us have several subscriptions to Netflix, Disney Plus, etc., which in times of inflation also raise their prices, in addition, many times we do not have time to use them all and even so we continue paying for them. Eliminate those expenses that are no longer so important.

5. Capacítate for free

There are many free courses, webinars and events with which you can reinforce your knowledge in difficult times and improve the management of your personal finances.

LEARN MORE

From the ABC of BCP they are organizing the 100% free and virtual event: “Día de Mis Finanzas” for the day of financial education. This will take place on Wednesday, October 5 from 10 am to 6 pm There you will learn about the habit of saving, good debt management, how to take advantage of insurance and much more.

You will learn from national and international specialists in financial education from Banco Galicia (Argentina), Caixabank (Spain), Pacífico Seguros, Prima AFP, the Superintendence of Banking and Insurance, the Association of Banks of Peru, among others.

Likewise, there will be raffles for gift cards and S / 1,000. Registration is free through the web:

For more tips on money management, learn with the free courses from ABC del BCP (www.viabcp.com/campus-abc).

READ: Personal finances: six methods to reduce ant expenses

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