Becoming independent is not an easy decision if you do not have control and organization with finances.
Achieving financial independence implies, initially, setting clear goals, having a solid budget, planning, and a lot of discipline.
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According to figures from Nequi, the new generations are inclined towards digital banking services to better manage money, thus 21% use tools such as Nequi’s Goals, Mattress and Pockets that allow them to save money for a particular need or purpose.
For María del Pilar Correa, Nequi Business Strategy Leader: “Users have in their hands the power to organize themselves financially and achieve their goals. In this process, from Nequi we want to support them, provide them with the necessary tools to improve their relationship with money, to be able to save and invest in what moves them and makes them vibrate every day”.
Precisely, the company shared some keys so that this objective of freedom materializes, first, having control of personal finances.
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Five keys to achieving financial independence
1. Set a clear goal that fits your reality, this implies that you set a time limit to reach it.
2. It is important that you have control of your income and expenses, for this, start acquiring the monthly habit of make a budget to make better decisions.
At this point, it is important that:“Take a close look at your spending and look for areas where you can cut back on unnecessary spending and save more. Also, be sure to set aside a portion of your income for investments that generate passive income, such as stocks, real estate, or businesses,” assured the company.
3. Prioritize debt payments and think about whether a portfolio purchase is necessary that allows you to unify all the ones you have.
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4. Seek experts and study personal financeWell, according to the organization “Financial education is key to making smart decisions with your money. Spend time learning basic financial concepts like budgeting, saving, investing. Read books, attend seminars, or search online for information from trusted sources.”
5. Be disciplined with spendingit is advisable to “save and invest regularly, even when times are difficult, this will help you build wealth in the long term,” said Nequi.
Correa concludes that: “With perseverance, financial education and making smart financial decisions, Colombians will be able to organize their money. Informed planning will be one of the keys for people to build wealth and invest in what makes them feel fully fulfilled.”
(See: How to know when it is time to buy a portfolio?).
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