It’s almost time to celebrate andthe end of the year. The past few months are known as a time of celebration, rest and family life. It is a time when even workers receive economic benefits.
On the other hand, costs due to the festivities in the last quarter of the year are also increasing as stores announce promotions to attract customers, IEU reports.
The additional costs incurred by the unexpected purchases, causing financial targets to fall behind. Therefore, putting your personal finances in order before the end of the year makes it possible to maintain an economic balance to start 2024 in style.
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Ways to prepare personal finances for the end of the year
The Nosotras portal recommends a series of steps that will allow an ordinary person to start 2024 with better economic expectations.
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How is the current financial situation? The first step to take is evaluate the current economyand for this we look at income, expenses, outstanding debts and savings.
Knowing this helps everyone know where they stand financially and can therefore make decisions that will help them achieve more realistic goals for the coming year.
Set financial goals. Because we have a clear picture of the financial situation, we set the objectives for the coming year. Do you want to pay off debts, save for an important investment or for an emergency?
Once you define this, you will have a goal that will give you a steady direction throughout the year. Only short, medium and long term objectives may be defined.
Adjust the budget. Finances can be managed through the budget. This must be in line with the objectives and expenditure. At this point, unnecessary expenses should be cut back and that money allocated to financial goals.
Discounts are not wasted. Once a budget has been created and objectives are clear, the desire to do some Christmas shopping will likely persist; To do this, it’s a good idea to take advantage of the Buen Fin or January sales. Of course, you should be careful with unnecessary purchases.
(JO)
Source: Eluniverso
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