5 tips to start 2020 with your accounts in order

At the end of the year, it is mandatory to take stock of personal and household finances, so that in the future know if there were debts instead of savings. For this, each person must distinguish between household expenses, daily and weekly expenses.

Some economists in the country give some recommendations to people so they can improve the economy at home.

  1. Save money. Buying a car, traveling, painting the house or arriving at the end of the month with money in the bank accounts, are desires that anyone should reach. It is advisable to know the income before making any decision and set financial goals.
  2. Reduce non-essential expenses. Unnecessary daily expenses (buying candy, cigarettes) or weekly (going to the movies, dancing, dining in a restaurant) should be set aside. These types of expenses should be controlled and reduced.
  3. Proper use of credit cards. The best way to use them is under the modality of direct credit, that is to say, to pay a single installment on the date indicated in the account statements, in order not to pay interest. You should also take into account the payment of the debt that has the highest interest, and then pay off the other debts.
  4. Control of income and expenses. You should be clear about the amounts of money spent. Calculate the surplus or missing and know how to handle different situations that arise, such as knowing how to distinguish domestic expenses (electricity, water, internet), living expenses (cleaning, education), transportation expenses (taxis, gasoline), daily and weekly tastes.
  5. Define roles in the family. The most disciplined household members should monitor the budget, be alert on debts, make purchases or payments, etc. The most responsible person should convene once or twice a month to a meeting in which they analyze how things are going,
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