Manage resources properly is no easy task and indeed, spending has always been easier to save. Usually we associate the financial crisis to a lack of money, but tend to be more related to mismanagement of our resources. That is why these tips you may find quite useful:

1. Keep track of your income and expenses. Take time to make a balance between your income and your expenses. You can start with a simple table to record by date income (money that has to date and the entries returned), their expenses (the money has been spent or outputs) and balance (the difference that remains after subtracting the money he had, which has been spent). This will help distribute their money and to consider adjustments in the event that your expenses are greater than their income.

2. Fixed vs. Flexible expenses Expenses. It is important that a distinction between fixed costs (those costs that can not be ignored, as the monthly fees, taxes, supplies, etc.) and flexible spending (of which you can reduce or waive if you have the case, as the rumba, lunch and transportation). Spend only according to their possibilities. Do not fall into unnecessary expenses is a matter of habit and disposition.

3. Avoid debt and pay your bills on time. Try to be satisfied with payments. This will not be tempted to waste money and add more debt. Try not to borrow excessively and organize your fees so that you feel comfortable paying them to avoid incurring arrears.

4. Create your own emergency fund. If a sudden, it is best to have prepared a “lifeline” which subject. The emergency fund you can create yourself. It is simply a separate allowance, so that will serve as an easily accessible savings to cover urgent expenses that were not covered within your budget. The amount of money in the fund depends on their levels of inputs and outputs (see tip No. 1.). However, we recommend you enough to pay between 3 and 6 months of expenses. Having this book as you can away from the crisis in times of economic … Read More