Smart Financial Habits for Year-End

Bing AI

Hello, welcome to my blog, dear and appreciated Hive readers. Today I come to discuss finances.

Checking finances involves being attentive and forward-thinking.

Of all the expenses that one has, basically the important thing here is to prepare to be able to receive a coming year in harmony and with sufficient financial capabilities to be able to pass the beginning of what is coming in a logical way and with an economy comfortable enough to be able to have expenses sufficiently covered or covered to be able to pay the bills, have food and part of the basic services.

This is something that I have learned over the years and I mention this because it happens that this month of December is a time when people traditionally want to celebrate that they have reached the end of the year and that they are going to be able to start another new year of life.

It's very good that they do it, but most of the time the person goes too far, because inside this spirit of celebrating, they invest and spend too much money on clothes, luxuries, meals, and drinks to show off this during this date.

Anything in excess can always be dangerous and it is not only dangerous but harmful to our pocket because if we dedicate ourselves only to spending or rather wasting everything we work so hard for, it has been difficult for us to win.

Bing AI

We will not be able to progress and have a strategy for the future here.

Really, the ideal is to have established in time all the expenses and all the income that are available and what can be spent, even having a plan in which we can see a percentage of unforeseen events that we may have.

Let's say that is saved from all the income that we have in the month. Let's dedicate 5 or 10% for unforeseen expenses and these unforeseen expenses remain in a savings fund that is not touched but is precisely for these expenses.

Unforeseen events: In my case, I try to save 20% of everything I earn as much as possible monthly and apart from that, dedicate 5 or 10%, which I know is a small amount, but 5 or 10% for unforeseen expenses and these unforeseen expenses in case the occasion requires it.

So I put it together with the other 20% that would be my savings in the event of an emergency.

Bing AI

The ideal and what is recommended to many people is to at least achieve 40% of what enters your portfolio monthly prepared for these unforeseen expenses.

Well, it can be an operation, an illness, the repair of something in your home, or an emergency expense that may arise at some point in your life.

If you have these savings or have been saving for at least a year this 40% this will help you to be able to cover those expenses and in case it does not happen, it will also serve as savings to be able to give yourself some pleasure that you want to buy clothes or some electronic or technological accessory.

If you are a technology lover like me, a better computer equipment or a better equipment of game console or a better cell phone then it is important to have this planning and being vigilant and checking your finances all the time to avoid these unnecessary expenses.

Today it is mandatory, especially if you are an independent person who lives alone like me who keeps strict control of your finances and your expenses because this is essential for him to live day to day.