By Adolfo Ruiz Guzmán, Public Affairs Grupo Financiero B×+
We are already approaching the middle of the year and we are about to finish a semester, 2023 has really gone fast, so it is a good time for us to review how we are doing, financially speaking; if we have come close to our goals and objectives or, on the contrary, we are moving away from what was planned.
Let’s go in parts to see how we can analyze our current situation.
1. Review the result of your budget
This is an important point because this is where we can understand the true financial situation that we have. If you did not make a budget, we already have the first ruling, surely you will already have debt problems or you have not saved anything. But if you made the budget, you followed it and you were disciplined, surely you have some surplus and your assets have increased.
2. Calm and very calm
As I mentioned in the previous point, if you did not follow the budget or you had an unforeseen event that took you out of the plan, first of all, do not despair, breathe and be calm to really see the situation, which will allow you to analyze it from another perspective. .
3. Establish the payment plan
As I have mentioned in previous collaborations, it is essential that you establish a payment plan, that you follow it and be very disciplined in order to get ahead, remember that you cannot incur one more debtif you do, you will enter a vicious circle from which it will be increasingly difficult to get out.
Remember that today financial stress is a reality and we see more and more people suffering from this disease. Medicine is hard, but it is worth it to have financial slack.
4. Look for the investment now
For you who managed to have savings and now want to channel the surpluses somewhere, it is time to look for financial instruments that help you maximize your resources taking into account your profile and investment horizon.
It is important to go to a serious, registered and regulated institution, to avoid fraud, they will ask you to complete a questionnaire where your investment profile will be analyzed. This is a fundamental document that will serve as a basis for your investment advisor to guide you on the instruments in which you feel comfortable due to the risk to which you will submit the resources.
An element that is accompanied by this is the investment horizon, where you will establish the terms in which you want to keep your money in the different instruments.
The combination of both will help you select the most convenient for you and remember, don’t invest in something you don’t understand.
5. Keep it up!
If the balance of your finances was positive, congratulations! You are on the right path to achieve financial freedom. If it wasn’t, you already have a great tool that is your payment plan and I think it’s no longer necessary for me to insist on the importance of the budget.
The second semester of the year awaits you, I would invite you, if you obtained good results, do not get tired and be more ambitious, at least set yourself the goal of achieving what you did at the cut. Financial freedom will be closer and within reach of your hands. If it wasn’t so good, come on, cheer up! Make up your mind today and start putting your finances in order.
Editor’s Note: This text belongs to our Opinion section and reflects only the author’s vision, not necessarily the High Level point of view.
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