Monday, January 24

4 secrets to start 2022 debt free


The saying goes “new year, new life”, however, there is nothing better than having a life without debt, with access to savings and good financial planning. For this reason, in this edition of Clear Accounts, 4 ideas will be detailed to take control of holiday expenses and manage our personal finances more efficiently for this new year:

Importance of the debit. If you still do not feel safe when handling your credit cards, it is advisable to use the debit card at the time of paying since in this way we only spend the money that we have in the account, obtaining more control and security when buying.

Basics of credit purchases. In the case of preferring to use credit, remember the basics when buying with this type of card. First, check the total and available limit of the product, as well as the cut-off and payment date. Second, decide if you are going to pay the debt in full or in installments, when paying it in installments these amounts will generate interest. Finally, it is important to know the assigned interest rate and try to pay above the minimum amount to reduce debt.

Alternative gifts. If giving gifts is one of the activities that most disrupt your finances, it is valid to replace the materialistic approach of the holidays and prioritize alternative gifts, as well as:

Bonuses to claim in the future: They can be coupons for a couple’s picnic, gifts for the future or any other activity, a voucher to carry out a whole day of paperwork, among other ideas.

Communal or family gifts: They can be family subscriptions to your favorite music or movie apps; a culinary experience or a city tour.

Secret friend: Many times by wanting to give a gift to everyone, quality is compromised. In this way we can focus our resources on just a gift and obtain better results.

Annual planification. If for this December our personal finances got out of control, it is very important to plan for the next end of the year. To do this, we calculate how much we spend overall in December and divide the amount over the next 12 months. In this way, we budget for extra expenses in advance and save worry and funds during December.

“Clear Accounts” is a series of Mastercard videos that develops financial information in a close, dynamic and easy to understand way, these videos are published every 15 days since October 2020 and will be extended for the rest of the year through social networks and the Mastercard YouTube channel, where you can find other videos focused on banks, loans, use of cash and more.



elcapitalfinanciero.com