Financial planning for you to turn blue in 2022

by John Labunski The Broke Leading the Broke

It's natural to start the year thinking about what your new investments will be. That dreamed trip, the car you would like to buy, the long-awaited apartment and many other things cross your mind.

But before making any investment, you need to plan. After all, you want to invest to make the most of it and not to have a headache. Having control of finances makes it possible to achieve your dreams more effectively and prepare for possible unforeseen events.

It may seem difficult, but some habit changes made after financial planning can be more significant in your life than you think.

Start by doing a finance survey

Do you know your entire financial life by heart? Do you have control over your finances (how much you earn, how you invest and how much debt you have)? If not, start as follows:

Know exactly the net amount you receive;
Gather in a spreadsheet or list all your fixed and variable expenses;
Analyze current account statements, investments, purchase invoices, proof of income, debts, taxes, insurance, etc.
Raise your assets, the installments that need to be paid and debts;
Compare the interest rates you are paying with those practiced in the market for possible debt renegotiations;
If you have any investments, analyze the profitability and if the risk is in line with your investor profile.

Set your goal: stay focused

If you want to conquer a car in a certain period, your planning will be one. If your dream is an apartment, your plans will be different. It all depends on your focus.

List what you intend to achieve and set a deadline for it. Include the values, the deadline and reflect on how you can realistically achieve what you want.

You will need to analyze monthly if the reality corresponds to what you planned.

Indispensable attitudes to avoid going into the red

Write down everything, even the smallest expenses. It may seem that spending R$ 5.00 here or there makes no difference, but this amount can greatly impact the accounts at the end of the month.
Differentiate need from desire. Do you really need to buy that blouse or have so many meals out?
Use spreadsheets or applications to have financial control;
Leave a reserve of money every month for any emergencies. Without planning, you can fall into overdraft or take out a loan and go into debt.

Now that you are in control of your finances, you can choose the best type of investment for you. There are several, but we will cite just 3 examples:

Saving money in savings is an alternative, however, yields are still low, but it's a start;
Investing in Treasury Direct is a good option, but it requires you to know in depth how the papers work;
Or make a consortium , which is a simple and practical way to make a safe and economical investment.
Start 2022 with a plan that allows you to stay in the blue and also achieve your dreams more effectively. How about starting a programmed savings through the consortium? Enjoy and do a simulation John Labunski