Personal finances

Summary: Success in managing personal finances can come from a variety of can come from a variety of sources. different levels, however, it is structured as an essential essential element that allows to make conscious and more coherent and more coherent decisions in the daily work, which is the "budget". which is the "budget", which is why in this article we will take this is why this article will take this financial tool as a pivotal financial tool as a pivotal element two main purposes: The logical and efficient result of a The logical and efficient result of a series of daily activities activities that allow us to make decisions for personal personal benefit, where we will be able to understand the personal word if you want to be familiar and the starting point to elaborate a strategy strategy that generates a redesign of the expenses or investments currently investments currently made and in this way find an additional find an additional welfare in the management of personal finances. management of personal finances. On the other hand, it will be found that personal personal financial management in its principles and motivations motivations is not very distant from corporate financial financial management, keeping due proportions, leading us to a clear conclusion that financial planning is an ally, motivator financial planning is an ally, a motivator and a generator of added value and generator of added value in our company.

Keywords: -Consumption -Saving -Budget -Investments

Today's world is increasingly more and more demanding in various aspects and finance is no exception. a sea of new knowledge that requires us to be knowledge that requires us to be more prepared and development of specific skills to achieve the achieve the success that each one of us longs for. of us. Whenever we interact with other players in our of our economies, in addition to the the great development of information and communication and communication technologies, to which we it I have thought that I have thought that finance is only one, however, in practical management, however, we have seen a a great division between business and personal and the personal ones. For the former, theory has theory has researched and developed countless tools with the aim of providing to provide companies with suitable instruments companies, while for the latter, experts have
experts have left it to them to develop to develop according to each individual's experience. experience of each individual. It can be inferred that corporate finance delivers a more tangible tangible added value, such as the accumulation accumulation of money by increasing profitability profitability, while in personal finance this added value personal finance, this added value has more to do with the more to do with the well-being of the individual, so says economics.

By providing guidance to families and individuals to families and individuals, a plan for the creation and increase of their creation and increase of their personal fortune. personal wealth.
a discussion of accounting, finance and some investment and some investment options, however, we however, we will provide the reader with an overview overview with strategies for personal wealth personal wealth building. Buying a home, saving for retirement retirement, for children's education and even for children's education, and even managing family budgets more effectively, today requires greater financial sophistication financial sophistication, so consumers consumers need to educate themselves, know, find and information, which will lead to a better information, which will lead to a better functioning of financial markets. of the financial markets. Personal wealth can be determined by analyzing by analyzing different situations in our daily life. in our daily life, for this we can look at a couple of we can look at a couple of questions that only seek to only seek to exemplify the raison d'être of our writing. w Do we have sufficient economic resources resources to pay for our children's college children in college, while maintaining an adequate adequate standard of living? w Do we have the necessary income to buy a house that meets our expectations? our expectations? Personal wealth can be very subjective and subjective and determined by the individual individual making the valuation, e.g., a person may for example, a person may consider him/herself himself rich because he owns several expensive cars, another and expensive cars, another because he makes travels around the world, another because he manages to because he manages to pay off all his debts on time, another another because he is able to pay off all his debts on time, another because he has no other because he has no other cares than to live each day according to his needs, etc. needs, etc., in any case and conscious of the aware of the above, we cannot forget that we are talking about we cannot forget that we are going to talk about financial wealth. We need to have full clarity on why we will study why we are going to study personal finance and to do so, let's look at some essential points. essential points.

The first hurdle we must overcome we must overcome is our disbelief of being able to achieve our dreams, the first step, which we will not go into in any depth we will not delve into, since we would be would be deviating from the essence of the article, is to be sure that we can achieve a personal fortune. For to do so, we must set goals in life, such as non-financial life, such as non-financial goals, which can be those which can be those of the family, the number of number of children, educational level, practice of practice of X or Y religion, social relationships, etc. social relationships, etc., and financial goals that allow us to possess a monetary capacity monetary capacity that allows us to meet the non-financial goals. non-financial goals. In addition, we must also take into account the
time (short or long term) in which we will achieve our goals. achieve our goals. As described in the previous paragraph, we are faced with a choice a choice between the consumption of today versus the consumption of the future consumption of today versus the consumption of the future; for this we will use financial tools that allow us to financial tools that will allow us to make decisions with economic reasonableness in aspects of savings, expenses and investment or seen in another way: How and when can you and when can you pay off your debt? How much should you save today to send your your child to go to college; Can you afford to buy your your ability to pay will you be able to buy that that comfortable house you dream of? Luis Olmedo.