Importance Of Controlling Your Personal Finances


The personal financial control brings countless benefits to the life of those who want to adopt this management tool. Not just controlling spending and having more money to spend, gender attitudes also positively reflect a person’s behavior. And, therefore, the importance of controlling your personal finances should be one of the priorities of your life.

The whole process can be done with a few minutes every day, jotting down, analyzing and planning everything that impacts directly in your pocket. To further clarify the relevance of the topic, we have elaborated this article that addresses the importance of controlling your personal finances and the consequent advantages that this financial management tool brings as a whole.

Avoid debts

Avoid debts

There are 63 million people in debt in Brazil, according to data from the Credit Protection Service (SPC). The consequence of this is low purchasing power, inability to get out of the ‘snowball’ of debts and the famous dirty name. Controlling your finances is the way to stay out of debt.

Through financial planning, understanding which are the most urgent debts and paying the debts with the highest interest rates, rescues the possibility of having purchasing power even without earning a penny more for it – only with effective control of finances.

Superfluous expenses are eliminated

Business Financial Control

Even those who are not in debt may have trouble saving a small amount or getting what they want. Personal financial control, in this case, points out the superfluous expenses that can be eliminated, maximizing the available resources.

By putting your routine exits on paper, such as meals away from home, high fuel consumption or clothes that are forgotten in the wardrobe, there is the possibility of seeing what is burdening your resources, allowing you to close the tap of unnecessary spending .

It is possible to realize your dreams

Financial Manager

Stop and think: what is your goal in the short, medium and long term? Do you have what it takes to achieve your dreams? If the answer is ‘no’ to the second question, perhaps control of personal finances is the main way to turn something imaginary into concrete.

Buying a home or a car, traveling with family or friends, investing in retirement thinking, all goals and dreams are most palpable when you understand the importance of controlling your personal finances.

Greater purchasing power

Investment Manager

That’s where personal finances come in: having emergency funds and buying sight products, generating more discount, prevents you from having to borrow. Good planning in this direction can value (and much) the capital you have at your disposal.

Financial control is the first step to investing

Financial control is the first step to investing

The controlled personal finances bring the first step to start investing. With the money left over to pay interest or unnecessary things, you can invest in investments that make your money, literally, work for you.

This is because investing is one of the most compelling ways to learn to have financial control, understand numbers and metrics used by subject matter experts, apply in your life and make a profit – both for your accounts and for your personality through discipline.

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