Surely 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.
It is much cheaper to spend our money on something beautiful to remember, rather than on purchases of tangible goods; this will certainly make us happier. For several years now, a stream of psychologists has been trying to prove that living an experience causes greater well-being to our minds than the possession of objects.
The basic concept is that investing in memories fulfills us more than a day of compulsive shopping. It all starts with the idea that buying experiences, such as a trip, a vacation, a concert, a show, brings usmuch more happiness than, perhaps, buying a new dress, an object we like, a fashion accessory.
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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.
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Learn about other financial best practices
Good financial advice #06 Dedicate 30% of income for personal expenses
Plenty of people suggest using no more than 30 percent of monthly earnings for personal expenses, i.e., travel, dinners out, birthday gifts or subscriptions to gyms, newspapers and more.
Good financial advice #05 Devote 20% of income in savings
A good way to save is to follow the 50-30-20 rule that suggests using 50 percent of income for necessary expenses, 30 percent for personal expenses, and 20 percent for savings.
Good financial advice #04 Spend one minute of money a day
To be always sure of one’s financial and, therefore, economic situation, one only needs to devote 60 seconds each day to money management. How? Checking on investment trends, news, and important news.
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