Beginning of the year always carries a desire to start all over and leave behind what did you wrong the previous year. Take advantage of this early January to review your friendships, “get over there” on everything that consumes you and nothing adds up, and why not start off on your 2018 financial moves.
Starting to save is great, but to make it a habit you have to eliminate some attitudes. Only then will you have the financial success you did not achieve in 2017. How? We have made a list where we will show you the most common mistakes made in the last year and which you can not make in 2018 at all! After all, new year, new life, right? Check-out:
1. Not having control of your budget
Having full knowledge of your income and all your monthly expenses is critical to not making big financial mistakes and getting complicated with debt.
You may be boasting about not having this planning and yet getting into debt in recent years. The big problem is that if your expenses multiply by 2018 – buying a new car, an apartment, or a trip, for example – it will be very complicated to keep your bills in blue. And without a control, you won’t even know where the money is going.
With income and expenses noted, it is easier to find the heaviest expenses and decide where you can save. So you can even plan to achieve bigger goals – how about having a new year’s goal to achieve one of your dreams? ?
For this control, you can choose a manual spreadsheet (the famous Excel or even notebook), but only 2% of people can keep this type of spreadsheet up to date. The GuyBayment app can help you have this control so much easier! Just register your bank account and it categorizes, in less than 2 minutes, all your expenses for you. If you have more than one account, no problem. You can register them all!
2. Invest only in savings
Having an amount saved is reason to celebrate. If you have followed our tips over the past year and managed to keep a cash reserve, you should give her the right treatment to really bring you a meaningful return.
No settle for savings combined? Other investments, such as Treasury Direct, carry as low risk as it is and yield higher, even with the recent fall in the Selic basic interest rate.
3. Don’t worry about emergency booking
A car repair, job loss, or extra medication expenses can compromise your entire financial planning if you do not have an amount set aside for unexpected expenses. Therefore, maintaining an emergency reserve is as necessary as worrying about saving to invest. Incidentally, the emergency reserve should be the destination of the first savings you can muster. It is recommended to have at least the equivalent of 6 months of booked time.
4. Not having bill payment as a priority
The most serious mistake is to leave to pay the basic bills at the end of the month, having already made the party with your salary. To avoid the risk of not having more money left when you settle expenses, plan to pay them as soon as you receive them. Do this also with your investments. That is, apply as soon as you receive the salary. This will allow you to count on leisure and other extra expenses only with the remaining money after the priority has been paid. In fact, having priorities set is crucial!
5. Use and abuse credit card
That a credit card can break the branch in tight times is no secret to anyone, but what many people forget is that it can put them in cold weather too! By paying in this way, it is very easy to lose track of how much is actually available at the bank and thus spend much more than you should. What you should keep in mind is that if you do not pay the bill you will be able to enter the revolving card, whose interest is one of the highest. Only prefer cash payments and use credit sparingly and planning!
6. Not setting goals
Do you know that famous “New Year’s goal”? She is also important to your finances! Here we are not just talking about dreams and big goals to achieve – of course a dream trip or a course you always wanted to do should also be part of your planning. But it is ideal to establish how much of your income will be compromised by basic expenses and how much should be saved, for example, so that you do not risk unnecessarily spending much more than you could.