A necessity in personal and family finances is to find a balance between income and expenses on a day-to-day basis. Looking ahead to the second half of the 2022and in the midst of a not very encouraging context of the Peruvian economy, it becomes more important to cultivate habits that allow us to reserve part of our contingency fundsfamily goals or a business.
“This will help you end the year on the right foot and keep the control of your business finances in the short, medium and long term”, indicated Mavilo Calero, division manager of the Comercial Network of Financiera Confianza.
Tips to improve your finances in 2022
This financial institution highlighted four key actions to improve the management of own funds:
- 1. Check your budget. Keep a detailed record of the income received and how it will be managed over time. “You can make a list by week or month indicating the income, expenses and the amount you need for each of them. The formula consists of adding all the income and adding all the expenses, and then subtracting the total of expenses vs. the total income”, explained Calero.
- two. Manage your debt. If during the first half of 2022 you did not keep track of the number of installments paid and the frequency of these, take advantage of this time. “Always try to limit your loan for personal consumption and think instead of investments that generate more income for the family. If the loan will take time to generate new income, design a plan to make the payments, despite this,” said the specialist.
- 3. try to save. Saving funds in the present will support the goals you want to achieve in the medium or long term. “To start saving, you can apply the golden rule: spend less than you earn, save something every day or every week and set aside a part of your income as soon as you receive it,” explained the representative of Financiera Confianza.
- 4. Create a emergency fund. Try to be prepared for any inconvenience for the remainder of 2022. “An emergency fund can help you deal with unexpected events and prevent future losses. You must separate, at least, three times your average monthly current income, “recommends Calero.