And there went the first week of the year. After parties and a lot of fun the bills to pay appear. Whoever used credit cards to buy Christmas presents sees the downside of the festivities: debt. In addition, we have the daily and beginning of the year accounts – the standard accounts of every Brazilian.
For those who programmed, great.
For those who waited for the water to hit their feet, the running begins. Sum from here, sum from there until the game is zero to zero (or close to it). The funny thing – or not so funny – is that we know that this will always happen, after all the property tax, property tax, children’s school expenses, etc., will always be part of the expenses of January and February. But very few (very few) prepare for these expenses.
If you are part of the group that has prepared, congratulations! I believe you are reaping the rewards of your planning, with a clear head thinking about more important things than the bills of the month. If you’re part of the head-warming group, it’s time to eliminate procrastination and start planning your financial life for 2014.
Tips to get started are:
- Organize the information
- Using an excel spreadsheet, software or even a calendar or notebook (simple as that!) Write down all the expenses already scheduled. Also leave a provision for everyday expenses to have a forecast of expenses.
- With the information gathered, begin a cost cutting process. Remember that the whole family should participate in this process. Only then will your planning really work.
- Finally, start creating your reserve fund. With 50 reais per month invested in savings you can reach the end of the year with an emergency fund of approximately $ 620.00. It seems little, but in times of need you can save your month.
If you liked the tips, keep reading the blog and learning more. And remember: more important than planning is to execute what was planned! Happy New Year to you!