My Family Finance Secrets

I share with you my secrets to be financially stable, without debt, earning enough to live and without becoming a slave to money.

I once heard someone say that you never get enough of what you don’t need. That is, if we have a need, by covering that need, no more of that is needed. For example, if we want to cover a well with earth, we put earth in it until it is full and there the problem ends. With things that are not necessary, one does not have a measure to fill or a need to satisfy, so one becomes insatiable. That is what usually happens with money, silver, wool, money, morlacos, pesetas, pesos, greens or whatever you want to call it.

If we only used money to cover basic needs, we would know exactly how much we need, but it is used for many purposes and to disproportionate measures. I do not consider that money is bad in itself, but it can bring many headaches, either because of having too much or not having enough, because of always wanting more or never feeling satisfied with what you have, comparing the same with what the richest neighbor owns.

This is why I share my secrets with you to be financially stable, debt free, earning enough to live, but without becoming a slave to money.

To work

Work usually keeps you physically and intellectually active, that is, it helps you lead a healthy life, since a busy mind does not get into so much trouble. It is a satisfaction to be able to receive something in exchange for your efforts. If you are a man, it is your duty to support your family; If you are a woman, working a few hours a day will take the weight off your husband’s shoulders and together they will achieve financial stability. It is also an opportunity for you to develop in professional and social fields.

Avoid debt

There are few exceptions to this rule, such as when you buy a house or a vehicle, even if you take out a loan to pay for your studies. In addition to cases like these, the best thing is that if you can not buy it with cash, wait to collect enough to do it. If you already have debts, try to pay them off as soon as possible. Interest is a deadly weapon that relentlessly consumes all your earnings.

Save money

Do not spend all the money you earn, just because your salary is high does not mean that you have to spend it all. No matter how much you earn, take out a part, even if it is minimal, and save. You can save to buy something special, to cover an emergency or for your retirement; there is always a good reason to have something saved for the future.

Family decisions

When it comes to buying a vehicle, furniture, a house, taking a trip or any other situation where the amount to be spent is considerably large, it is better to discuss it with your partner or family. It is becoming a custom for each member of the couple to have their own bank account and spend their own money on their things. This can lead to friction between the couple. There is no better rule than that of keeping clear and transparent accounts among the family. That both husband and wife know what the family budget is, how much is earned, how much is available for the expenses of the house, food, studies and that both are the administrators of the money, acting in full trust, honesty and freedom.

Each family is different, and in mine this has worked very well. I hope you find it useful.

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