Dear readers: I always thought save with my salary was a practically impossible dream. Every day the salaries conform more to our basic needs and do not cover aspects as importsante as it is recreation and planning of our financial future (investments). Seeing this picture I started to develop additional activities with the idea of increasing my income and surplus contribute to a savings and investment plan. While I was wondering how to earn extra money to save always arose opportunities that focused my attention. So therefore, I managed to increase my income, improve my current financial situation but at the end of the annual period it was me he was still depending on my monthly entries.
It was to really find a job, business or activity extra solution to earn more money? This experience made me reflect and I realized that without any prior planning, my goal would fall simply into a State of non-priority needs, with my extra income, but by the end was in the same financial position without any savings fund. The habit of saving if possible, for me there are excuses of any kind. Who intends to save and make a financial plan must do so with a firm and determined to change attitude. To change we need to know why we want to change and where we want to change. Not having this clear is how to navigate without compass or orientation, with the result that we are lost in our acts and have no results. Therefore, if we decided to have a habit of saving and investment have to do previously as follows: perform a personal balance sheet to discover our true financial needs. This step is to reflect all our income and outflows (expenses) monthly.
Define where you are making expenditures that have no relevance and can be adjusted. Define the amount that needs to be adjusted to cover our expenses, any expenses etc. If performing the 1 point we observe that our disbursements or expenses are consumed more than 90% of our income situation is critical and our settings should be more severe and applied as soon as possible. If expenses or disbursements represent or consume between 70 and 89 per cent of income then we are in a situation of care where you must make adjustments to avoid falling into situation critical. If expenses do not come to cover more than 70% of our revenues then your situation is suitable to make a saving plan. In a nutshell, never let your financial situation to fall into a position where your obligations, debts or expenses exceed more than 30% of your income. Adjustments should be based on releasing the burden of your personal expenses and employ them in your recreation, savings and investment needs. Imagine a lifestyle where managed to get real and constant residual income that cover all your expenses and stay you money for your recreation, saving and investment. You wouldn’t be living so dream financial freedom. Be sure to make this analysis before incurring a savings plan. This will give you a vision of where these stopped at this time, It will tell you your reality and perhaps will surprise you. I can guarantee that knowing your financial reality will open doors arround how I earn money to save.