Are you thinking of becoming independent? So take note of the following tips.
I don’t know of any young person who has not ever dreamed of leaving their parents’ home and becoming an independent adult, as we all tend to think that doing this will open up a world of infinite possibilities for our lives. However, what few tell us is that there are some factors in which we must be extremely careful, so as not to fail financially at this stage.
Below I share with you some of them, hoping they will be useful to you.
1. Make a budget
When planning your expenses it is necessary that you consider the expenses for payment of basic services, food, clothing and housing. You will know that you are distributing your money badly if at the end you realize that you are missing or that you have practically no free money for the rest of the month.
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2. Be aware of your needs
Although you will start a new life, it is not necessary that you do it by buying all kinds of luxury utensils and appliances for your home, simply simple things that perform the same functions are enough. It is always good to go around those sites that offer second-hand items, you will see that many times the items are in optimal condition and you will also avoid resorting to the dreaded use of credit cards. Before buying think: what would happen if I don’t buy it? If the answer is: nothing, then it is time to stop and save it for later.
3. Keep debts up to date
Although for many people this is obvious or even absurd to consider it, the truth is that being up to date on the payments of the accounts will always avoid serious financial problems.
4. Leave something to save
Emergency situations generally arrive when you have less money on hand, so it is essential that you leave a margin of your income to save them. Try to start with a small amount and as you can, increase it.
5. Look at the little details
Many times we are not aware that the well-known daily micro expenses generate a strong increase in the monthly budget. Try to write down the daily expenses that are really necessary such as: bread, food, mobilization services or others. If you are curious to know how much you spend per month on that cupcake you eat on the way to the office or on that chewing gum that you consume every day, then it is time to take out paper, pencil and calculator, without a doubt, the results will surprise you.
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6. Avoid using credit cards
Although it is true that for some things credit cards are almost essential, try to avoid their use. When we buy with these, almost without realizing it we can pay up to three times more for a product, for which many times we could have saved to buy it in cash.
7. Don’t impress anyone
Achieving financial independence is a milestone in people’s lives, but you must be clear that many times by wanting to impress your loved ones, you can end up paying a very high price. Live simply, always remember that everything at the beginning is difficult.
8. Ask for help
If at any time you feel that you cannot organize yourself with the expenses you generate, then it is time to turn to your support network and ask how to do it with certain financial aspects. It is always better to ask for help than to ruin your entire life for fear of ridicule.
Finally, do not forget to enjoy this beautiful stage, be patient during the adaptation process with yourself and do not let worries about money ruin this important moment.