How much do you identify with these statements? You went to get a credit card only for the pre-sale of LuisMi tickets; you definitely can’t stand the sleepless nights like before; If you dog all the way down, you make sure there is someone nearby or a piece of furniture so you can get back up. That means that you are already a millennial and certain bad habits that you should throw away for life.
Sofía Macías, author of the best sellers from Pequeño Cerdo Capitalista, and Daniel Urías, founder of Cooltura Financiera, give us a list of the eight Financial Habits that every millennial should eliminate:
1. Living without a financial direction
That’s how it is! You are no longer in your 20s, you are between 35, 40 or older, so long gone are the times when you went with your parents to wash your clothes or to see what was in the fridge to steal from you. You need to have clear goals and a fund, you know, for emergencies.
“Most of us who are adults today did not receive instructions during youth to make wiser decisions with our money or to face the challenges that come with age. It is very important that we give ourselves time to learn and reflect on how to face the changes of adult life, regaining peace of mind and focusing on achieving our goals in an organized way”, considers Daniel Urías, co-organizer of the AdultOINK workshop: financial tools for adult life. and founder of Cooltura Financiera.
2. Save what is left over or spend like crazy
You have fixed expenses to cover: rent, electricity, water, gas, internet and the supermarket. With your first job you could spend your entire fortnight going to a bar with friends, the El Sol concert or whatever you wanted. Right now you must apply the “take it from me because I’ll spend it”, a savings strategy that you find in the book Little Capitalist Pig by Sofía Macías, and have a budget to know how your money is going.
“Instead of continuing to add fuel to the fire and mortgaging our future, all millennials and older should start learning about the more adult topics of finance, those that involve decisions that perhaps seem more complex to us than just budgeting or saving for a concert. It is still challenging, but if you turn to specialists in the fields it is easier to take care of yourself and your future and that is why we created AdultOINK the online workshop on tools for adult life with specialists, which will take place on June 15, 16 and 17”, says Sofía Macías, author of Little Capitalist Pig.
3. Apply the YOLO with credits (own or third party)
Yes, you only live once, but do you want to go into debt, especially in someone else’s name? Many times people take out loans to pay debts, without remembering that the credit itself is a debt and that they will have to pay it later. WATERS! A loan is not a bad idea, if it is to grow your business, buy a car or your first home, the detail is that it must have a purpose.
“Much of what we learn about personal finance comes when we are already in the middle of a problem and need an urgent solution. The intention of AdultOINK is to provide the necessary tools to build a stable adult life where we can anticipate and solve some potentially problematic situations before being involved in them”, explains Daniel Urías, founder of Cooltura Financiera.
4. Ignore your tax mailbox
They say out there that “eyes that do not see, heart that does not feel”. That might work for love, but when it comes to the SAT, you definitely shouldn’t ignore your tax box, but rather learn how to use tax deductions to take care of yourself and pay less in taxes. Example: saving for your retirement or deducting your insurance for major medical expenses.
5. Believing that you will always be young and beautiful and neglecting your health
Is Riopan your best friend? Or do you pay for the gym, but you don’t go? They tell us all our lives, but sometimes we don’t understand until it’s not too late. Right now you still have time to take care of yourself so that the next decades don’t weigh on you, or what? Do you want to be one of those people who need help for everything and are barely 60 years old? Better to keep walking on your own two feet at 80.
If you need to know more about your physical, emotional and brain health; you want to help your loved ones get out of debt without paying them back; You are interested in learning more about education insurance; you want to talk about retirement with your parents; Have you thought about investing in real estate, or just want to be at peace with the SAT…. Basically, AdultOINK will give you the financial tools you need for when life gets serious.
6. Walking unprotected through life
It is very common for people to think that insurance – life, major medical expenses, car, house – are just to get money from them. However, then they have an emergency and instead of just paying the deductible, they have to pay the entire bill. Insurance is one of those things that you should always have and hope you never use, but if you need it, it’s there.
7. Thinking that “heritage” is a word for your parents
It’s that you are in your 30s or 40s, why should you think about such things? Because the more time you have to create your wealth, the bigger it will be. Yes, maybe right now you don’t have children, but in the future you could have them and it would be better to have a “credit balance” than “inherit your debts from them”, don’t you think?
8. Keep thinking that retirement is a long way off (your parents’ and yours)
Surely you see your parents and think “they are young, they can last a while working”, but before you think they have to retire and if they did not save anything, how are they going to do it? Their pension is not going to reach them. And if you don’t even know what Afore you’re in, you’re not on the right track either, so it’s still time to get your act together if you don’t want to stay in the terrifying sandwich of facing his retirement and yours without any planning.
Put your batteries with the AdultOINK workshop
AdultOINK is an online workshop with specialists will take place the next June 15, 16 and 17. In addition to the participation of Sofía Macías and Daniel Urías, at AdultOINK the retirement will be discussed with Moisés Pérez Peñaloza, Founder of Yo Retired and also many topics that already interest you if you are over 35.
Some of the experts are: Ángel González from Defense of the Debtor; Gerardo Aparicio, director of the school of the Mexican Stock Exchange; Adriana Guillén, CEO of Xpertha Capital; Nieves Lanzagorta, Vice President of Liaison at Amafore; Eduardo Corona, Portento insurance and estate planning specialist; Natali Lagarda, Master in Clinical Neuropsychology; Fernando Soto-Hay, Founder and CEO of Tu Hipoteca Fácil; Mar del Cerro, meditation teacher; Maricarmen Obregón, author of the WOW Effect, and many more that will help you with the financial issues of adult life.
MORE NEWS:
Entrepreneur.com We are the leading medium for Spanish-speaking entrepreneurs, with the most important news and content on startups and businesses.