The Daily Habit

Very often I think about the relationship between spending habits, comfort and affordability. If your expectation is to enjoy a better financial position in the future, there are sacrifices that must be done in the present, after all that is the natural meaning of delayed gratification. You can either overspend in the lifestyle and things that you think you deserve now,   or put a little bit of pressure on yourself and make some sacrifices here and there, in order to offer your future self a better life. As Dave Ramsey says: "Today I will live like others won't, so tomorrow I will live like others can't" The truth is, quitting to buy your coffee at Starbucks every morning won't make you rich in 20 years. This example is often misunderstood, because this habit alone won't make you rich or poor; but it certainly can become the first step that will give you the mental toughness to embrace uncomfort, and the will power to stick to what is right for y...

Everyone has a different approach to handle personal finances. Some were lucky by having parents that taught them some basic money principles. Others must figure it out on their own and maybe even struggle a little bit while finding the approach that works for them. Either way, there are two things you need to know: 1. You are already an adult and handling your finances must become part of your priorities. Cheers to you for reading this article. 2. Keep in mind that it takes time, but it is worth it. So, how to start investing when you are broke, in debt or have very low income? It is simple, but it is not easy. The most important thing is to set up milestones and start. You won't get anything done if you push goals for "when I have more money", besides, you would be losing time and the benefits of compound interest. 1. Get the basics. The basic step is knowing where you are regarding your financial life. Do you have debt? Do you know how muc...

There was a time when I didn’t know where my money was going or what should I do with it. Needless to say, I was living from paycheck to paycheck and with credit card debt. What I didn’t know at that time is that anyone can build a cushion, an emergency fund, even if it is small or starts from zero. If you keep consistency and develop the right habits and systems, you will be able to see your emergency fund bloom; and a direct path to a better and more organized financial life. One part of me never thought I would be the person writing how to make a budget. A budget sounded so “strict” to me. I used to think I could figure out on my own how to save money, without having the need to make a budget. Wrong. Or at least, it was for me. I bet the world is so big that there are people who do not need budgets, and never had the need to use them; but for 90% of us, it is the best way to start. The following are some tips that I learned on my way to developing a budget every mont...

Puedo empezar contandole que yo tenía una "adiccion" a comprar, que era una manera de lidiar con algunos traumas de una infancia muy limitada económicamente. Llámese "adicción" a comprar al hecho de comprar cosas que uno realmente no necesita, y luego sentirse culpable, vivir de quincena en quincena, no tener ahorros, tener deuda de tarjeta de crédito. Durante mucho tiempo lidie con mi problema y estas fueron las cosas útiles que aprendí durante el proceso: 1. Monitorear los gastos. No hay manera de que ud se ajuste a un presupuesto si no hace una investigación preliminar de en qué se está gastando el dinero. Ahora hay apps muy útiles para monitores sus gastos y hacer un presupuesto al mismo tiempo. Yo uso Excel e incluso hago pivote tables al final del mes. 2. Hacer un presupuesto.  Construya un presupuesto con sus gastos mensuales y pongase una meta REALISTA de cuanto quiere ahorrar. Digo realista porque si no es realista lo más probable es ...