The numbers reflect the reality of our situation, it is not the same to say spend a thousand and a half on food that you write in your profit and loss statement, spend 1,989 on food. People do not like to go to the doctor for fear of being told that they are sick, but to improve our financial health we must do our state to see what the reality is.

Make your profit and loss statement

debt

 

After realizing your profit and loss statement, it is time to take control of your money, make your money stay in your pocket, we know that if you are in debt it will be difficult, but not impossible, so take out a new savings account with $ 500 and label it with the name “My account to take control of my money” Do not mix the money in that account, use it exclusively to deposit a monthly amount X of money, suppose $ 500 pesos.

It is necessary that the deposit to that account is the first thing you do when you are paid because it is the way you are going to program yourself that the owner of your money is you, then over time you will increase the amount.

Take control of your money

There are debts that you must pay first, among those are credit cas, make the commitment that, from now on, all the consumptions you make in the month you will pay them in full and an additional one to decrease the debt you have accumulated.

Make an austerity plan for the next months, depending on your level of indebtedness will be 3, 6, 9 or 12 months. Start by decreasing your phone plan, spending on fuel, subscriptions, fast foods, etc. Just as we go on a diet to lose weight, we must implement this financial diet to lower our debts.

Pay your personal debts

Habits are powerful as destroyers in our lives, as far as we allow; You must change the habits that led you to over-indebtedness and develop new ones, such as eating more at home, not going to all the events that are invited or not buying things that you really don’t need. Habits are formed in 28 days, the first is the most difficult, but then it is easy, because you already made the custom.

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