Caring for young children is an absorbing activity that leaves little time for ordering different aspects of our lives. Use these tips to maintain an efficient organization of your personal finances.
Every day women gain ground in the field of administration and financial contribution of Mexican households. A survey carried out by Vivanuncios gives us the perfect example, since this research revealed that 16% of the women surveyed are in charge of the total payment for their housing and 58% of them collaborate with their partner to finance it.
Now, when a woman becomes a mother, many changes and adjustments occur in her life that generally end up occupying more time of her days. On many occasions, this extra time was previously dedicated to managing and organizing their personal finances.
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If you are a mother of young children, keep in mind that trying to find the balance between one stage and another can be difficult, but it is not impossible. That is why here we will give you some ideas so that you can take control of your finances without having to miss any detail of the growth of your young children.
Tips to keep your personal finances healthy:
• Take advantage of your free time
• Control your expenses
• Invest in opportunities
• Respect your savings
• Involve your children
Take advantage of your free time
Although it may seem difficult, taking time to analyze all aspects related to your income, expenses and expenses is a very important activity, as are others in the life of a woman and mother, since it will function as the beginning of an organization that can serve you for a long time.
Doing this detailed and honest analysis from the beginning will save you from having to spend extra time doing it over and over again, correcting and fixing data as you remember it.
Find one or more free spaces and make a budget by entering your income, fixed and variable expenses and savings goals. Remember to write down each of the concepts in detail and assign a weekly budget, with a cushion of money in case of emergency, to which you can stick to to avoid having unnecessary expenses or that represent a significant imbalance in your finances.
Control your expenses
With the help of your analysis and your budget, the expenses you incur can be easier to identify and control. Generally, there are fixed expenses , such as a house mortgage, water, electricity, gas, telephones and internet services, they do not represent an exit or financial imbalance since they are always budgeted, or in mind, due to their indispensable nature . It is the other expenses, also called variables, which affect the economy and personal finances of people.
When you are a mother of young children, you often need to make unnecessary purchases that represent a significant drain on money and solvency, so developing inventive thinking will help you not incur justified expenses such as “emergency” expenses that can really solve by thinking of creative ideas or having a preventive plan.
Invest in opportunities
It is true that it is good to enjoy and keep a certain amount of money on hand to have solvency in case of unexpected situations, but it is also highly recommended to allocate a certain percentage of your income, even if it is minimal, to investments that can reward you in the future and function as a savings that you can use in the education of your children or if you want to fulfill other types of plans.
There are different methods with which you can invest safely. Real estate is always an excellent investment idea to have a secure estate, a roof over your head, and the assurance that your money was used wisely.
Likewise, one of these methods is to put your money in a savings account that has a rate of return that returns a percentage of your investment and that keeps all your movements safe and protected. Finally, you can consider investing in CETES (Certificates of the Treasury of the Federation), which have a value of 10 pesos and in which you can invest at least 100 pesos in a specified period of time. The longer the investment period, the greater the return.
Respect your savings
As a mother, having healthy personal finances is very important to take care of your future and that of your family, so applying a little discipline in your decisions regarding your savings is essential to avoid unbalanced the family economy and sleep with the peace of mind that you are doing everything possible to ensure the financial security of those who depend on you.
Plan what important situations might require the use of your saved savings and stick strictly to this plan. This step goes hand in hand with the previous ones because ant or variable expenses are a danger that can drain your efforts to save money, as well as your investments in different banking institutions. Respect your effort by taking care of your savings and encourage your family to help you do it.
Involve your children
You can make this step a family effort that benefits everyone at the same time! There are many techniques you can teach your young children so that they too learn to manage their finances on a small scale and can grow up understanding the importance of being organized and saving money to meet their goals. In this way, they will begin to understand your need to save for their future and will be more aware when you explain why you do not make expenses that seem a priority for them, but really are not.
Here are some ideas you can apply to make this process fun and useful:
• Become an example to them.
• Teach them to save so they can measure the volume of money.
• Show them the price of the products they consume so that they become aware of the responsible use of money.
• Explain how the money is raised and why it is important to save a portion.
• Involve them in creating a budget.
• Encourage them to set goals with you and support them in reaching them.
Being a mother of young children is a stage in a woman’s life that should be enjoyed, preferably, without financial worries that could steal time from important events. Having healthy personal finances is important as it gives you the opportunity to live fully, providing a quality life for your loved ones, and enjoying the rewarding little details of family and motherhood.
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