Collecting fast cash can be a challenge for anyone who is not in the habit of saving and especially in the case of people who have to deal with debt. Although the practice requires determination and a lot of willpower, with some changes in the routine and the way to consume to conserve it is possible.
Anyone who is not in the habit of raising money will not be able to get it overnight. So it is important to start at a normal speed. Set aside a small monthly amount and put in the savings as soon as you receive your salary. It does not have to be a high value. The important thing is to make it a habit to save part of your routine. Then you’ll get money together faster and even automatically.
Write down the expenses
By noting the expenses, you know exactly where the money is going and can identify potential savings. Analyze your expenses and see if there are any categories where you can cut spending to raise money.
Have a financial manager
A financial manager is a very useful tool to get an overview of your finances and to accurately control income and expenses. Use the system in your favor to write down your expenses, see how much you spent and how much you can save.
Pay off debts
Debts are one of the main enemies of anyone who wants to learn how to make quick money. After all, to succeed in this mission, you have to pay off all your debts (and the interest that goes with them). Start by prioritizing the most expensive debts, such as credit card rotary and overdraft. An alternative is to use the lower interest rate paycheck loan to pay off the more expensive debts. But this type of credit is only targeted to those who have a formal contract and retirees.
Therefore, consider even taking a personal loan with low interest rates, such as that offered by Just. You can also compare various interest rates within the Mary Poppins application itself.
Making quick money is easier when you have a goal. This helps to maintain discipline. One way to do this is by defining three dreams, one short term (up to two years), one medium (up to five years) and one long term (over five years) dream. Reflect and analyze what is important to you. Your goal may go from clearing to buying an apartment or even achieving financial independence.
Set an amount to save
To start joining money, divide the value of the goals you have by the number of months you will take to win it. Anyone who wants to exchange $ 12,000 in 24 months, for example, must add at least $ 500 a month during this period to achieve their dream. Regardless of dreams, to achieve financial independence, which is everyone’s goal, one should save, on average, 15% of what he earns.
And how will you keep the money?
In addition to defining how much you are going to put together, it is important to choose carefully the type of investment in which you are going to apply your money. For the amount used to make a dream, for example, it is a good idea to store the value in an application that pays interest and protects money from inflation. Savings, which have low yields, are only good for small amounts, for short-term bills, for example. People who think about joining money to supplement the INSS in retirement can go to a private pension plan or even public Treasury Direct bonds with long maturity. Securities are safe and more profitable options. If you want to raise money for the future choose paper maturing next to the date you plan to retire.