martes, 14 de junio de 2016

Five financial mistakes that we all make

In the current situation where a large part of the world population lives in deep personal economic crisis, we decided to analyze the most frequent "financial mistakes" and give recommendations on how to avoid them.

Credit card use daily

Using credit cards to buy necessities is the most serious mistake we can make. But there is an even worse mistake, and not return in time what one has paid with the card. Many of the products designed by banks and credit organizations are designed to take advantage of the mistakes their clients, explains the portal. At the end we will have to enter a lot more than the initial sum: precisely thus lending organizations receive most of their interest.


If you have to pay a high interest on a loan, it is better not to try to save while the loan is not closed. They are simple mathematics, argues the portal: in very few cases the interest you receive on your savings deposit brings more money to be paid as interest on a loan.


When buying a car, it is best to decide in advance what we will use. Thus we see what services we need and what not. Many prefer to buy new cars, appealing to potential risks of buying a used car.

However, a new car loses value just outside the dealership, stands the portal, however, emphasizes the possibility of paying an expert to assist us when purchasing a used car to ensure a good buy.

Emergency expenses

Many people, especially young people, are optimistic and prefer not to think about the possibility that unforeseen situations arise. But insists that we should create a personal emergency fund. Although in the end fortunately nothing wrong happens to us, this is a good way to save, argues the site, indicating that the minimum period of saving for such a fund is eight months in a row

Extra expenses

Many are not happy with their financial situation, but still not always have a complete picture of where your money goes each month. As a first step, it is recommended that each family member record your daily (or monthly) expenses. Then comes the time to analyze and report their 'cuts' to the family.

All those who feel limited by their financial resources should consider reducing their non-compulsory expenditure. For example, forgetting to take coffee in cafes or restaurants to eat in instead, bring homemade food to work, recommends the portal. With just a couple of months applying these one will notice savings measures and their impact on personal finances.

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