With the beginning of a year, 365 possibilities open up to build the life we ​​have always wanted. But that life is supported by realistic and concrete plans and actions; many of them linked to the management of our personal finances.

The truth is that, in Costa Rica, financial education is not that common. Many people spend their entire lives without understanding about money, completely in debt or broke. For this reason, at Coopealianza we always provide advice to our associates so that they learn to earn, save and better manage their income and investments.

At Coopealianza we want to share 5 tips to improve your personal finances in this year 2022:

It is important to start from the beginning. How much money does he earn in total each month? How many are they and where does their income come from? How much do you spend on fixed expenses and how much on variable expenses? How much do you spend on automatic memberships that you don't even remember you have? How much should you allocate without fail to pay debts or credits? Are you clear about it? You can not pretend to improve something that we really do not know.

There are people who even hate or are afraid to talk about financial freedom and personal finances. That must change in order to later have the ability to take action.

It is essential to make a list of all those conditions that you have already clarified in your self-diagnosis and from there, create a monthly budget that allows you to better organize your money. But the budget does nothing to be written. Stick to it and you'll see how it's enough for more.

How much money do you have to spend each month to meet your needs and pay off your debts? How much money can you allocate at most to leisure, entertainment or fun? Can you afford to save even a small percentage permanently?

With globalization and the infinity of gadgets and things that we can buy in the market because they are – honestly – quite accessible, we end up buying clothes, shoes, technology, appliances and other objects that we don't really need and that rob us of freedom by minimizing our liquidity.

The next time you are tempted in a store or supermarket, for example, be honest with yourself and ask yourself if you really need to buy that. Perhaps later you will need the money for something more important or urgent and you will have to borrow because you have already spent your own money on something that you did not really need.

Always make smart and well-planned purchases, you will not regret it.

If you feel like debt is weighing you down, focus on a debt repayment plan with clear goals and deadlines.

To stick to that plan you can do several things:

 

Saving is a wonderful habit, perfect to adopt in 2022.

At Coopealianza we offer you 3 options:

SAVINGS IN SIGHT: It allows you to have access to your money immediately, for: salary, pension, organization of expenses, money management or business flow (business). It can be in colones or dollars.

INSTALLMENT SAVINGS: It is voluntary and can be done systematically with monthly installments, under the following modalities: Easy Savings, Christmas, Marchamo, Investment, Multiple and School.

FIXED-TERM CERTIFICATES: They generate excellent returns, earning more for your money. It contemplates the dematerialized modalities (minimum amount ¢50.000.00 or $100.00. Minimum term 1 month and maximum 5 years) and materialized (minimum amount ¢500.000.00 or $1.000.00), and they can respond to their own investment plan.

If you want to learn more about how to boost your personal finances this year, Contact us. We have many suitable financial products to achieve your goals.