With good management of our personal finances, we can save month by month without having to deprive ourselves of anything. The keys to starting good management of our economy are very simple and will help us to create an image of what our situation is. We must analyze what our revenues are and what our expenses are, what savings capacity we have and what financing needs. For all this, we can help a multitude of tools, from a simple table to create a budget as a comparator that will allow us to compare financial products to make the best decision. It is very important to know well the financial products that we have hired or those that we are going to hire and never give any product that we do not know. Understanding correctly the contract of the products we have signed is key to having control of our personal finances and avoid future scares such as unexpected commissions, permanence clauses that we did not know or exaggerated interests in case of delay.
5 tricks to take charge of our financesKeeping up to date and having our personal finances controlled is not as complicated as it seems and the result can be very positive. For example, if we have savings, we can invest them in a deposit to be rented instead of leaving them in a 0% checking account if we are not really going to need the money or if we usually postpone payments when using our credit card. devote a few minutes to analyze the conditions of the "plastic" and see if there is any better in the market than settle for what we have because, in the end, we can get expensive. Here are 5 tips to take charge of our personal finances:
- Analyze our financial situation and ask ourselves what our financing needs are, what use we usually give to the card or what capacity of saving we have. You will not need the same type of product a user who always pays at the end of the month that one who constantly delays their purchases or a customer who needs financing that one who is looking to save. There are apps from some very developed banks that help us with this task.
- Analyze the financial products that we have contracted (accounts, deposits, cards, loans ...) and check if they meet our needs and if they are the most competitive in the market. It is also important to know the exact conditions of all of them.
- Compare the products that we already have with the rest of the existing options in the market, to check if there are better ones. It seems a lie, but by choosing our account, our deposit or our card we can save or earn a generous difference of money.
- Establish an action plan . For example, we can consider starting to save a certain amount of money per month or reduce our debt by decreasing, for example, the deferred payment with a card. There are many tricks that will allow us to reduce our expenses.
- Investigate what the market offers us and be aware of the promotions, maybe there is one that interests us. Banks continuously launch campaigns to attract new customers ranging from discounts to gifts. So if we are attentive, our personal finances can be greatly benefited.
AccountsThe accounts are indispensable financial tools for our domestic economy. Thanks to them we can manage payments and collections. We must know that not all accounts are the same: some are used for day-to-day operations while others give us the opportunity to save by offering a return on our money. Here are the main topics you need to know about bank accounts:
- Open an online bank account
- Advantages and gifts per household payroll
- Accounts with insurance and free cards
DepositsDeposits are simple and risk-free savings products that give a return for the money deposited in them. Between them, we find many differences, both in the interest rate and in the requirements of the product. Here are some pages that will help us to know if we are thinking about hiring one:
- Fixed-term money, investment without risk
- How to invest in time deposits
- Deposits with a gift, an interesting fixed-term option
Loans and creditsReforming our home, paying tuition for a university degree or buying a car are costly projects that our savings can not always afford. If we need extra help to finance any type of project, Citrus North has a wide variety of financing products in the market, from the personal loans of the whole life to the mini-credits, without forgetting other options such as the commitment of cars. In addition, in the current context, loan providers have multiplied and now, in addition to banks, private lenders can be used. If you want to know more about loans, below you will find the most interesting current topics in this section:
- Pawn of cars
- Personal loans simulator
- Urgent loans
CardsCarrying an excessive amount of cash on top of, in addition to annoying, can be dangerous. Thanks to the cards we can make any purchase without having to carry the full portfolio. But not only that, the cards are very versatile products: they allow you to make purchases over the Internet, withdraw money from an ATM, borrow a certain amount of money from the line of credit, etc. On the other hand, it should be noted that now we do not even need to have a plastic since we can have virtual cards in the smartphone. In addition, cards (especially credit cards) have many advantages, such as discounts, the return of purchases or free insurance. If you want to know more about this means of payment, below you will find its main characteristics:
- Cards without commissions
- Credit lines
- Online credit cards
MortgagesMortgage loans, better known as mortgages, allow you to buy a house and finance it over a long period of time, which can be several decades. Next, you will find all the information you need about the world of mortgages, what requirements the bank requires to grant a mortgage loan, what expenses entail the purchase of a home and what you should take into account to avoid contracting abusive clauses. In addition, you will learn to compare the different options to choose the best mortgage in the market and we will give you the tools to calculate the quotas and the total cost.
- Mortgage simulator
- Mortgage deficiency
- Buy house
What should we look at before hiring products?Before hiring any financial product it is important to read the contract carefully and pay special attention to the "fine print". Depending on the product (loan, card, deposit, account, mortgage ...) it will be necessary to fix more in some aspects than in others, but, a priori, these five points affect all the previous products:
- The interest. It is a percentage that reflects the performance of the borrowed money, either in favor of the client or in favor of the bank. In the case of financing products, the interest will reflect the money that will have to be paid to the bank for the loaned capital, while in the remunerated accounts and in the deposits, it will reflect the interests that the client will earn.
- The commissions. This point is very important. Each product includes costs that we will have to pay special attention to. To find out the prices we can consult the book of rates of the entity, available on its website or any of its offices.
- The access requirements. In general, the fewer requirements an entity requires us to hire a product, the better.
- The linked products. Some entities oblige customers to contract extra products that a priori may not need to contract other products or give them better conditions. It is usual when contracting a loan or a mortgage that the banks demand the insurance contract, for example. It is important to analyze the cost of this type of added products.
- The operative. You have to find out what channels you can operate without paying costs (virtual banking, offices, mobile applications, phone calls ...).