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.
Take control of your money
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 RD $ 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 RD $ 500 pesos. It is necessary that the deposit to that account be the first thing you do when you are paid because it is the way that you are going to program yourself that the owner of your money is you, then over time you increase the amount.
Pay your personal debts
There are debts that you must pay first, among those are credit cards, 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.
Reduce your fixed expenses
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.
Habits are as 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 do not need. Habits are formed in 28 days, the first are the most difficult, but then it is easy, because you already made the custom.
You can take control of your finances, do not be discouraged and better look at the goal, the goal of not being over indebted or eliminating bad debts.