The first two weeks of the year have allowed us to reorganize the activities that may have been put on hold due to the end-of-year festivities. At this point we will realize how effective our spending strategy was or if we are entering a new cycle in the red.

If last month’s expenses included planned expenses such as school supplies, loan payments or other commitments and priorities, we will be fine. If not, it is time to plan better and find a strategy that will help us achieve financial peace of mind.

First of all, it must be clear that saving is necessary; experts in personal finance recommend saving 10% of your salary, in addition to avoiding hormiga expenses. This should also be accompanied by an emergency fund, which can be either a bank product or home savings.

Spending should follow a monthly budget, which means that all purchases should be studied and planned. The number of times purchases will be made in markets or supermarkets, where household consumption items will have priority. There may be room for personal tastes, but they should be minimal.

Be realistic about your income and do not overspend. Many things and products can make us illusion, but they are purchases that should be carefully analyzed, taking into account the income, expenses and whether it is possible to invest in this or acquire a debt. We should not rush into commitments that later become a burden.

Finally, if possible, pay off debts, especially credit card debts, or make significant payments to get out of these commitments. By no longer having these payments, this money can be used to meet household needs or for savings with the goal of being able to start a new cycle solvent and with financial peace of mind.