Aprende a organizar tus finanzas personales en medio de una crisis

Learn to organize your personal finances in the midst of a crisis

There are a number of strategies and recommendations that can help us organize our personal finances. Take note of these tips!

Peru faces a difficult moment. The scant investment prospects for 2023 suggest a gloomy outlook, with slower economic growth and a very difficult task of recovering the employment levels that existed until before the pandemic.

READ: Tips so you can access credit without affecting your personal finances

All this, together with the increase in the prices of the main products of the family basket, has an immediate impact on the personal finances of all Peruvians, who have seen their purchasing power decrease.

However, all is not lost, since there are a series of strategies and recommendations that can help us organize our personal finances, in order to face the crisis in the best way.

In the first place, the experts warn about the need to have a responsible management of our finances, which implies not getting into debt by obtaining credits that, conscientiously, we know that we could not pay in the required time, because in the short term this will bring us greater problems.

READ: Personal finances: tips before granting a loan

If you are aware of this, now we suggest you pay attention to the following tips that will allow you to organize your finances:

1. Define your financial goals

To do this, set monthly, annual and other long-term goals, put them in writing and proceed to carry out periodic evaluations in order to determine if they are being met. If not, make the necessary adjustments. The idea is to make sure that you are not going outside the established parameters.

2. Once you define your goals follow them

Keep in mind that financial goals can range from recovering from the financial shock of the last few months, getting an extra job or business to supplement your current income, finding the most convenient interest rates to restructure your debt, and increasing your savings level. , among others, hold the economists.

3. Determine if your goals will be medium or long term

It is advisable to visualize where you want to be financially in 5 or 10 more years. This will ensure that your financial goals are more specific.

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4. Create a budget

In which the fixed expenses grouped into categories (payment of rent, mortgage, food, mobility, telephony, services, education, health, debts, etc.) are included. In your budget add a specific category for extra or unforeseen expenses.

5. Take advantage of your budget

Don’t forget that if your budget is in writing, it will be easier for you to determine where you spend your money.

6. Get out of your comfort zone

Determine which expenses are not necessary and which you could do without.

7. Set goals

Create savings goals and meet them without excuses. This is also very important to have personal finances in order.

8. Analyze the possibility of investing part of your savings

So your money will pay off and personal finances will improve.

READ: Millennials: four tips to save in times of inflation

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