Achieving financial independence is a big dream that, to many people, seems distant and difficult to achieve. But with good planning you can get there. • Achieving financial independence is getting financially organized so you can get the financial resources to accomplish all your goals and dreams in a given period of time. It can be everything from leaving home, taking a trip, buying a car of the year or entering an apartment ?, says economist Christiane Monteiro of MaisMoney.
She says resorting to some type of bank loan may also be a temporary option for a specific purpose, but it should not be something that becomes part of the routine. • A person can borrow from the bank to buy the apartment and arrange to repay it, for example. Is it positive for young people when they want to achieve their goals without the help of their parents?
By following a few basic tips, anyone who works can be financially independent, making ends meet without saving anyone and saving part of their monthly salary.
"Just plan and balance spending and earnings to plan the future within your reality," he says. She teaches some tips that will help you better handle your money and achieve your goals. Check out:
1 ? Plan your budget
Put down everything you earn and spend on a month, a semester or a year. This is essential in organizing and planning for the future and is the most effective way to control finances. Consideration should also be given to eventual expenditures that weigh on the budget. Thus, it is necessary to have control over consumerist impulses.
2 ? Set goals
Dreaming is the fuel that drives forward. When you have a dream as your goal, immediate consumption no longer causes the same satisfaction as there is a higher goal for money. When someone has no dreams, there is no need to save and it is easier to have a financial imbalance and suffer that feeling of frustration.
3? Pay off your debts
If you have debt, make a diagnosis of the commitments already made, put in a spreadsheet the amount and time required to settle everything, and decide the strategy you will use. Budget control must be well defined so that it is possible to define how much will be earmarked for the payment of these debts. Extending payment terms as long as this does not imply high interest rates can be a good alternative.
4? Talk to family members
If you live with your family, it is critical that all expenses are made clear. So no one ends up paying for expenses that are not yours. As well as avoiding any quarrel, this attitude also helps you better control what your actual expenses are and thus know how much you can save per month.
5? Work with pleasure
Doing what you like and working on something that gives you pleasure and satisfaction usually results in a bigger and more positive outcome. This generates a stimulus and thus makes it more enjoyable to get the money you need to become independent.
6? Make the income + expense equation zero
Include in your expenses the monthly amounts that will be saved to achieve your goal. Do not leave a penny without destination, as loose money is lost / spent without realizing it. Therefore, the sum of revenue, overhead, and investments must be zero.
7? Save at least 10% of your net income
This is the economic standard that must be adopted to have a reasonably healthy financial life. If you receive, for example, 2 thousand net reais, you must deduct 10%, ie 200,00 reais. There will be 1,800.00 left, which will be considered the total amount to cover your expenses. Ideally, you should set aside the amount to be saved as soon as you receive the salary as it makes it easier to control and prevents the money from being used for other purposes.
8? Understand What Financial Intelligence Is
This happens when we use credit to our advantage. An example: the desire is to buy a new car and there is money to pay in cash, but instead of doing so, one chooses to buy a commercial room and, with the price of the rent, the payment of the installment is paid. car. It is a way to leverage equity by using credit wisely.
9? Have Minimum Financial Survival Capital (CFMS)
The Minimum Survival Asset is the one you need to have in order to simply turn your life around in the event of unforeseen circumstances such as unemployment, illness and others that alter or even cease your income. It's simple to calculate, just multiply your monthly spend by six.Ex: If you spend $ 1,500 / month, your CFMS will be $ 9,000.
10? Know what money means to you
Depending on the person, money can have a different meaning like:? Power when it is believed that money will guarantee prestige, authority and social recognition. Pleasure, with positive feelings related to money, such as pleasure, happiness, psychological and material well-being, self-esteem, hope and harmony in interpersonal relationships. Stability, seeing money as a source of security. Success or failure when it depends on whether or not you have money. Detachment, involving a need to give more importance to the values of solidarity and generosity than to material goods.
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