Important Factors for Making a Lot of Money

Important Factors for Making a Lot of Money

There are some studies, which indicate that an average Spanish family is losing the opportunity to save 2,200 dollars a year just by not reviewing how much they pay-and what companies-in basic supplies. A domestic economy spends 14,844 dollars per year on electricity bills, water, heating, gas, etc. and the statistics tell us that if we choose the cheapest suppliers we could cut that figure by practically 15%. In some cases, savings can be around 30%, which would mean paying 4,200 dollars less per year.

These data show that we have in our hands the possibility of saving, but we do not do it, often due to ignorance or simple laziness when comparing options. Spaniards find it hard to create savings habits, but there are some small rules that can give us the momentum we need to begin to better manage the family economy. Now follow Adult money to get better option for the same this is the best deal.

Experts in finance, whether they are advisors or successful entrepreneurs, do not have magic formulas for success, but there are certain guidelines that they usually have in common. From Fin tonic we have compiled some of these tips to save you that would only give you a professional numbers.

Important Factors for Making a Lot of Money

  1. Encourage yourself to save

There is a concept called ‘ mental accounting ‘ used by some advisors. it is the mechanism that is activated, almost unconsciously, when we are faced with a quantity that we have just entered. We begin to think how much percent we are going to spend on A, what percentage will go to B.

  1. Make money with what you are passionate about

Maybe you do not have what was the job of your dreams, but surely you feel devotion to a sport, a specific hobby. Convert it into your extra source of income. There are hundreds of examples of how the blog or the YouTube channel of an amateur has ended up becoming a non-negligible method of financing.

  1. Save as soon as possible and in small quantities

The best time to start saving probably was years ago, as soon as you signed your first employment contract; more so, as soon as you had your first weekly child’s pay.

What experts advise is to allocate to our ‘piggy bank’ between 10 and 20% of our profits from the moment we have them. The latest figures in this regard indicate that today a half Spanish household saves 10.5% of its income, barely half a percentage point more than the minimum advisable.

  1. Automate your way of saving

New technologies can help us save with very simple and completely intuitive mechanisms: the most useful, the periodic transfer. If you charge day 1, schedule a small transfer the next day to another account for only your savings. There will come a time when you forget about it, but it will continue to be done every month, without you hardly noticing, and in a year you will get a very pleasant surprise.

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