Recommendations that will allow you to have an economically stable year

During the end of the year, expenses of all kinds are presented and January comes when the much talked about and dreaded “January cost” arrives, where those who did not know how to budget well suffer from an economic imbalance in their pockets. Trust Corporate, an expert organizational consultancy in financial matters, reveals some recommendations to start 2022 in good financial health.

“Managing money correctly is not an easy task. Many times unnecessary expenses can play tricks, or sometimes, the money is simply not enough to save and have support in case of any need. However, with good financial planning, different strategies can be created to better address the different scenarios and situations that arise financially ”, comments Jamez Hernández, president and co-founder of Trust Corporate.

CAF – Development Bank of Latin America-, mentions that lhe financial education facilitates the effective use of financial products and collaborate for consumers to implement skills to compare and choose the best items for their needs.

Hernández, adds that “in times of uncertainty it is recommended to be austere to have greater financial peace of mind. Without a doubt, the best way to have healthy personal finances is with a good organization, so it is time to start working on a budget for 2022 and maintain discipline, to begin to see results during the year ”.

The president and co-founder of Trust Corporate also emphasizes that: “The budget depends on the reality of the person or family. One of the most effective methods to organize the budget is the 50-30-20 formula, where throughout the year it is recommended to allocate 50% of salary to service payments, 30% for personal expenses and 20% for savings or investment, ”Hernández mentions.

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In their most recent CAF-Latin America Development Bank- surveys, carried out in Colombia, Peru, Brazil and Ecuador, they found that 61% of people do not save and those who do do so do so informally, keeping cash in your own home.

Some recommendations to start working on healthy finances to start the year are:

  • * Review how finances were in 2021.
  • * Provision of expenses.
  • * Limit debts.
  • * Budget according to reality.
  • * That all expenses have a goal.

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