The second tip in the column on good financial advice is:
Keep track of your assets.
No doubt it is a very important habit. Keeping track of expenses and income is essential to be aware of one’s finances and to make, accordingly, the best decisions for the future but also for the present.
Monitoring your net worth is an essential step in managing your finances. ur net worth can measure your financial progress, whether you are getting out of debt, building an investment portfolio, or both.
Net worth is the result of all those daily and weekly decisions you make that eventually add up. All of these are reflected precisely in the net worth. Thus, it is the way to measure your financial progress over the course of each year.
We deal with over-indebtedness prevention related to usury risk every day throughlistening, counseling and support. We are approached by employees and retirees who are in a situation of imbalance between income and expenses and cannot pay their debts.
In the video we show you the steps to follow to receive free support.
If you find yourself in a similar situation, please contact us!
Learn about other financial best practices
Good financial advice #10 Start saving early
The earlier you start your savings plan the better. Saving and creating an emergency fund is imperative to have proper management of personal finances.
Good financial advice #09 Spend on experiences, not things
Did you know that the best way to spend one’s earnings is in experiences? Objects leave time for themselves, while experiences make you happier and allow you to have fewer second thoughts about spending.
Good financial advice #08 Create a spending mantra
Choose a phrase that can help curb your purchases and rationally choose what expenses to make and how to use your budget.
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