Financial education is according to Liberbank a necessary tool that can help us better manage our economic resources in different stages of life. In childhood we can start with simple concepts such as the value of money, what it is for, where the tickets come from and the importance of saving.
Later, in adolescence, he helps us to be a citizen
more responsible, to know the effort that must be done to obtain these resources and, at maturity, financial education allows people to plan in the best possible way their decisions in the financial environment.
In general, a good financial education helps us to better understand the importance of knowing how to manage, to save, to have a mattress for contingencies, to make a correct management of current expenses and also to make investments with caution and with the necessary knowledge. It will help us to be financially healthy, contributing to our life security and tranquility. It is not healthier, financially speaking, who has more, but who knows how to manage better and for this a golden rule is not to spend more than what is entered.
In these dates of the beginning of the course you can hear how expensive it is to return to the routine and face the rigorous purchases, which are many. Now, in what months of the year is it more difficult for us to maintain a balance in our accounts? or in other words, would there really be hills if we had been foresighted?
The answer to these questions is in the family budget. If we are able to make each one ours, and fulfill it, we can have a balance in our accounts throughout the year and goodbye to the slopes.
HOW A FAMILY BUDGET IS DEVELOPED
There are many tools that the entity advise to use to make this budget but either with pencil and paper, with a spreadsheet or with applications that are on the Internet offered free by institutions and financial institutions, you just have to decide for the one that works best for you. comfortable and take into account some important details to make it really useful and work: you have to consider the time horizon that can be, for example, a year, make periodic reviews to see if it is being fulfilled and above all, do it without cheating, because When you are going to draw up a budget you have to be realistic and honest with yourself and not hide any expense.
It is also interesting that at the time of elaboration we imply all the members of the family, so that they know what the expenses are and inform us of what the others may have. It is about involving everyone to be able to fulfill the proposed objective.
With these premises, we begin by noting every month our income and all the expected expenses, the estimated receipts, the approximate purchase and others that are fixed and known, such as loan installments, some taxes, insurance, and so on. It is also considered essential to allocate something to save, as if it were a fixed expense, since it may be essential in the future to face an unforeseen event or make us a good gift.
Now, if once it is done you see in practice that you have to adjust it and rethink some items because the total expense is excessive, before considering, for example, increasing indebtedness, a good advice would be to cut superfluous expenses and try to reduce others such as light, water, gas, gasoline, etc., in which there is some margin if it is done with care, according to the entity.
It is never too late and this is a good date to start the course with a good footing making a budget true to your economy and your life now that you know the importance of financial education to better face the challenges that arise in our day to day.