Practical Guide to Financial Skills for Non-Financial

Being young you can sometimes make bad decisions about how you handle your money and obviously many of the consequences you will not see immediately, but within a few years. For this reason it is essential that you learn certain financial skills that help you protect your personal finances.

The management of finances is one of those issues that you should deal with even from your youth, because the way you treat your money today will result in the financial future you will have in a few years. Hence the importance of starting to acquire some financial skills .

The management of finances is not an exclusive subject of “older people”. You perfectly being in your 20s are prepared and trained to take control of your money. You just need to be aware of the discipline you should put into practice.

You still don’t know what strategies to put in place to take care of your finances and acquire financial skills while being so young? Here are some tips and simple tips to achieve it successfully. Pay attention.

Give your money a purpose

Give your money a purpose

You are very young and most likely you want to have fun and have a good time. This is not bad, it is valid to splurge from time to time; However, you should give yourself your tastes with a defined plan to pay for them and a good management of finances .

How to do it? The best way is through a budget. This financial skill will help you to give each weight you gain a purpose. In addition, this tool will give you the power to know and decide when and how you spend your money.

Take advantage that at this age you do not have on your shoulders major commitments such as housing payment or large debts on credit cards. Use this in your favor and try to include in your budget what benefits you, especially in the future, such as savings or health insurance.

Save money every month

Save money every month

Without a doubt, saving will be a fundamental pillar that will make you reach financial success. If you are already active at work, do your best to save a fixed amount each month.

You can start with the reservation in your bank account of a specific amount of money. How much? Everyone saves according to their commitments and needs, however, the ideal would be to start with 10-15% of your monthly income and increase the amount as you earn more.

Saving is important, but honestly it is very difficult to get rich just with that. In itself, it will be the basis that will allow you to access bigger things like investments, which can lead you to achieve true future financial milestones.

Search for offers

This is something that causes many people some discomfort, because they feel they are being stingy with money. Nothing further from reality. Finding offers and capitalizing on any tool that saves you money is one of the most successful financial skills you can learn to protect your finances.

When looking for offers you will be saving a considerable amount of money and you can allocate it to other important matters.

Make your purchases with a list

This is another action that you may not like because you feel more comfortable shopping freely. But the truth is that with a list you will stick to the products you really need, you will avoid buying without control, as well as acquiring items by simple impulse.

It is a simple habit that will only take a few minutes before going out to make a purchase. The list will not only help you save money but also time, since you will go directly to what you have written down.

It is worth trying this tip, because by maintaining greater control over your purchases, you will see at the end of the month an accumulated amount of money that you thought was impossible to save.

Create balances every month

Create balances every month

It may seem like a somewhat tedious task, but it is one of the most profitable and necessary financial skills to keep finances under control.

A continuous analysis of your personal financial situation will help you mature on money, optimize financial management, allow you to have an accurate calculation of your assets and give you tools to anticipate future situations and deal with them effectively.

Try to check monthly income and expenses. See where you may be failing in case the money is not reached.

Creating balances month by month can prevent you from overdrawing your account and incurring in forgetting your financial commitments.

Start a financial plan

Start a financial plan

Most important things in life require that we draw a clear path to achieve them. Our finances are no exception. To achieve financial goals you need to establish a plan that will take you to the goal.

Believe it or not, having a financial plan can motivate and encourage you to achieve relevant goals such as: paying off a debt, buying a house or a new car.

Search for your Bank or in your case save for your retirement

Our productive working years have an expiration date, for this reason it is transcendental to think about what we will live when the moment of retirement comes. It is important that from a very young age you begin to contribute deposits in an Bank or establish an additional savings plan for retirement.

In case you decide to save on your own for retirement, ideally you would allocate at least 15% of your income for this concept. If it is difficult to reserve this amount, no problem, you can do it according to your possibilities.

The important thing, beyond the amount, will be the proof with which you make deposits for your withdrawal. Keep in mind that in those years you will have needs to attend but you will not have the same conditions to work.

Preparing yourself financially for retirement will allow you to live a dignified life without any surprises at that stage.



Before starting to put all these financial skills into motion, you need to assume that the more control you have over managing your finances , the easier it will be to achieve your personal and professional goals.

It is never too early to improve the management of your finances. Take advantage of the benefits of youth to save, with the aim of enjoying a peaceful, debt-free and healthy finances future.



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