December, the moment to review and plan 2025!

Planning is the key word, and nowadays, we must increasingly plan, organize, and budget our daily expenses, as well as any extras that may arise

It’s also important to set goals because life shouldn’t be just about paying bills.

We all have something we would like to do or buy, but often we don’t because we lack the financial capacity to do so, or because we think something unexpected might happen and we need to always have some "money in reserve."

Our parents and grandparents passed down some beliefs, among them, "we don't know what tomorrow will bring," so we either go to extremes: we either don’t spend at all or we spend everything.

Balance and Organization!

Lets start by doing a Check-Up to your finances in 4 steps:

1. Review all the fixed expenses you currently have:

• Review all the atual active credits:

In the case of a mortgage, you can and should consult your bank to request a review of the terms of your contract in order to reduce your monthly payment. You should also inquire about the possibility of consolidating all your loans into ONE, further reducing your monthly expenses.

At the same time, you can and should consult a Credit Intermediary, who can do this work for you by approaching various banks to find the option that best suits your case. This service comes at no cost to you, contrary to what you might think.

• Review all active Insurances:

Besides car insurance, life insurance, multi-risk insurance, and health insurance, many people also have coverage linked to their credit cards. The more insurance policies we have, the greater the chance we are paying for overlapping coverage. On top of that, the monthly cost can become quite high, and often, we don’t even make use of these coverages. Therefore, it’s worth exploring the different options available in the market that offer more competitive prices while maintaining the same or better coverage. Stay informed!

• With the assessment done, we move on to the final phase:

We have compiled a file with all expenses, monthly earnings, and the designated amount to reach the goal.

Adhere strictly to your plan. You don’t need to spend the extra funds, and consider whether it’s worthwhile to set up a retirement savings plan (PPR) or invest in low-risk financial products or ones with guaranteed capital.

It may not generate high returns, but it’s a way to avoid keeping your money idle in the bank and earn a small return on that capital.

The success of your financial health depends on you!

Also read our article, Saving rhymes with economizing!