Many people do not have a good relationship with money because they have never received financial education and in their home, when they were a child, money was talked about in a negative way, there were many deficiencies and debts.
It is possible that this has become, during adulthood, the replication of patterns of bad economic habits and a lack of knowledge of how to access greater financial freedom.
No one is to blame for the socioeconomic situation in which they grew up, but as adults we must now take responsibility for our income and expenses, that is why in Coopealianza We always provide personalized advice to our clients and try to help all associates to improve their relationship with money through credits with excellent conditions, savings or investment alternatives.
Today we want to share in this article 7 tips to improve the relationship with money and use it in our favor:
- Get to know yourself better: What are your beliefs about money? It is important to start by questioning yourself. What do you think of money? What beliefs do you have that could affect your expectations of a better quality of life? Do you think that being rich is bad or that people with money harm the planet? Do you think you don't deserve to have money or do you think getting out of poverty is too difficult? We are not judging you, only you know your path, but to start improving your relationship with money, all experts recommend analyzing your thoughts regarding wealth or prosperity, because those thoughts are translated into habits.
- Create a realistic plan to pay off your debts. Much of our freedom and peace is pawned on the debts that drown us every month. Focusing on paying those debts is investing in a promising future.
- Save every month. It doesn't matter the amount. Build the habit of allocating a percentage of your income to increase your wealth. This will give you confidence in the challenges of the future.
- Identify your consumption habits. What do you spend more money on and how could you improve those practices? For example, do you have many expenses ant? What unnecessary expenses can you eliminate immediately?
- Make a budget. Something as simple as an Excel table can help you keep track of how much money you spend in each area of your life. Sticking to that budget/plan for the month will help you free up a lot of money you used to spend without knowing what.
- Use credit card responsibly. Find someone to advise you on how to use it and only use it when necessary. Using the credit card as if it were gift money and endless is one of the main mistakes of many people. Remember that it is a loan that must be paid in a timely manner.
- Seek personal finance advice. Don't try to do it all by yourself. There are experts who can help you improve control of your money.
At Coopealianza we can help you find the best alternatives and solutions to discover a completely new way of relating to money, be more financially free and achieve your most ambitious dreams.