Young adults are experiencing one of the best times of their lives, in our 20s and 30s we have many dreams and goals that we want to achieve. For example, doing a Master's degree abroad, setting up our own company, traveling, buying our first vehicle or buying our own house.
All those dreams are very valid and inspiring and in Coopealianza we love supporting our associates to achieve their dreams and improve their quality of life.
In this article we want to share with all the young adults who read us, some important recommendations.
- It's never too late – or too early – to start saving. If our parents or relatives did not instill in us the habit of saving, we can change that mental programming and adopt a savings plan. No matter how much we allocate monthly, the important thing is to start.
When we start saving, we will realize that we can take control of our finances and set medium and long-term goals. At Coopealianza we have the sight savings modality in colones or dollars, we also have installment savings and fixed-term certificates with excellent yields.
- Never stop learning. Currently there are many books, courses and workshops from personal finance experts where you can learn to implement tools, create budgets, and invest.
From books that talk about the "energy frequency of money" such as Happy Money by the Japanese guru Ken Honda to in-depth courses where the different investment instruments and their risk levels are explained. The key is to have a mind willing to learn new things every day. Personal finance, like any other discipline, is something that can be studied and learned in depth.
- Be aware of your debt level. At Coopealianza we know, from experience, that one of the main plagues that affects the pockets of thousands of people in Costa Rica is over-indebtedness; when the income is no longer enough to assume the expenses plus the commitments acquired by credits before financial entities.
To prevent debts from drowning you, it is best to take responsibility now. How can I have a good quality of life that is not beyond my means and how can I borrow only to the extent that I can actually meet those payments, including the interest?
And if you will allow us an extra piece of advice: Stay away from unregulated lenders.
Unfortunately, most people do not receive adequate financial education when they are children, and we all dream of a car of the year, our own house or travel around the world, as we mentioned at the beginning, but achieving those dreams cannot be detrimental to our peace. mind and our well-being.
If you consider that you already have many debts with different entities, Contact us to assess a possible debt consolidation that allows you to improve your liquidity and take greater control of your finances.