Tips to achieve financial stability at the end of the year

To avoid excessive debt during the holidays, experts recommend special planning to control spending.

The idea is to keep December time from becoming a headache, and personal finances from becoming a nuisance, so it’s important to take wellness measures before spending.

According to Autonomistas, a platform that provides personalized financial advice, the last month of the year is characterized by extraordinary expenses, such as vacations that they cannot pay for, unplanned gifts with excessive expenses that are often bought on credit. Apart from parties and celebrations that can put your finances at risk.

According to experts, to face these situations, change your mentality and get healthy personal finance and conscious money decisions.

“Money is a major stress factor for people and in our country more than 70% of Colombians find it difficult to be financially stable. The only solution is to face this reality, understand it and act. In life we ​​have few ways to be financially autonomous, organization is key and 99% of people are not,” said Nicolás Quintero, co-founder of Autonomistas.

Use the 24 hour rule

You should let the impulses of the things you want sleep. For this, experts recommend taking 24 hours and thinking about whether you really want or need what you want to buy. If upon reflection, you have the money and His answer is that it is not important, he just saved the amount.

Plan your expenses

Think ahead about gifts and details for December, so you can allocate part of your resources, take advantage of offers and not fall into additional expenses.

It’s key to be specific about the number of people you’re going to surprise, as well as having a budget for each of them and start preparing purchases in the shortest possible time and identify opportunities such as discounts.

Say goodbye to impulses

Remove shopping apps from your mobile phone and also remove your predefined payment methods from these sites. If self-control isn’t your thing, make the shopping process a little more complicated to avoid impulse spending at this point.

The December season has started in the San Victorino sector today, December 6, 2023. Hundreds of people visit this commercial sector to get up early for the December season

Pay yourself first

The best advice for the pros is find a way to automatically put a percentage of what you make each month into your monthly budget. Start at 10% and if you can, feel free to try to reach 30%. This can be a unique way to save and invest.

Allocate resources to your entertainment

Life is not all about limitations, so set aside some of your money for yourself so that you can spend it on a good life. This way, you can take advantage of experiences beyond debt and expenses that create true well-being, such as exercise, meditation, walking, reading.

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