World experts define financial intelligence or financial IQ as the ability of a person to solve their money problems and be free financially.
By working these skills in a disciplined way, you can acquire knowledge to better manage debts, income, expenses, credit cards, purchases, protection of assets, balance the family budget and generally have the “control” of the money.
These are the 5 steps that allow you to increase your financial intelligence:
- Increase your capital with passive income (those that do not depend on our work).
- Protect money from losses and from predators (unnecessary debts) “spending a penny on something you do not need ends up being expensive” Warren Buffett.
- Take a detailed budget of your money.
- Learn to save and invest.
- Increase your financial language.
These steps will help you to have a better quality of life, less stress, tranquility in your family; as well as conquer your dreams and achieve your goals.
5 Financial tips to start 2018
1) The key is that the monthly expenses do not exceed the income and always allocate a fixed percentage to savings.
2) In the monthly budget always allocate an amount for savings and keep your current credits up to date to avoid paying interest for delinquency.
3) Marriage payment, vacation in July or change of car? Set your goals for 2018 and start a programmed savings BN that allows you to achieve it and earn interest.
4) If you plan your financial life in the long term from now, you can have better results. A complementary pension plan from #BNVital is an ideal tool.
5) Improving the budget can constantly help you make better decisions. Identify expenses that can be reduced or investments that can grow.