It is not very complicated to do so, you just have to overcome some truths and a few discussions about the use we make of our money. Being honest with our partner is very useful for the correct use of our money and that there are no uncomfortable disputes about unnecessary expenses such as candy, coffees, spare parts, etc.

Having clarified all this, the monthly budget is something necessary and key for the management of finances. This will help you to make your projections if at some point you wish to apply for a loan to improve your home. With the savings you make, it will be possible to plan.

We could start with making a calendar of invoices and payments. Include payment dates for all services. Add up all these expenses and assign a sum of money that can be used to automatically disburse all these payments. You can do it online or through mobile banking. Bank applications already have this modality. This way you can strategically space your invoices and coordinate with your paychecks so as not to jeopardize your liquidity.

Eliminate unnecessary expenses. Those that are discretionary, that one does not regularly need and that put at risk, not always, our health and peace of mind at home. Eliminate it to increase your cash flow. I know it’s difficult but give it a try.

Review your food, fuel and entertainment expenses and set reasonable limits for each category to avoid overspending. This will help you identify some expenses that you can avoid or reduce. Leakage costs” can be avoided, reduced or eliminated depending on our efforts. One example is morning coffee or grocery shopping or eating out too much per week. Discuss it with your partner, i.e. whether it is necessary or you can invest that money in something that has a better benefit for the future. An investment for example.