In general, the arrival of a new year is also the beginning of a cycle of projects and goals to achieve. However, in order to achieve these goals, it is important to live a healthy financial lifestyle and manage resources properly, keeping in mind that December spending can have an impact on the economy in the months to come, especially if purchases exceed our budget.
We’re sharing five financial tips to start the next year off on the right foot.
These are recommendations you must follow if you want to start 2023 in good financial shape:
- Make your budget: Make a monthly income and expense budget with which you can program yourself economically and know how much you can spend and how much you can save or invest in your personal projects.
- Prioritize your personal goals or objectives: The goals and objectives you set for the next year go hand in hand with financial awareness.
- Don’t make the mistake of acquiring new commitments that go beyond your budget, and always keep in mind which goals are more important and beneficial to your pocketbook.
- Be responsible with your credit card: To avoid high interest on future bills, it is advisable to use your credit cards for what is strictly necessary, make purchases in smaller installments, try not to make advances and, if possible, pay off capital to get out of such an obligation.
Don’t let yourself get “hung up”: to date, 93% of reports to DataCrédito are positive, a result of good behavior on the part of Colombians regarding their financial obligations. In this sense, it is important that people continue to pay on time, avoiding late payment interest charges.
Save or have an emergency fund: If you have an opportunity to save or set aside some money for emergencies when prioritizing and monthly payments, do so.
That way, when an investment opportunity arises or an emergency arises, you can use that capital.