Dealing with financial issues

Dealing with financial issues

How to deal with financial issues?

Seven of each 10 persons in Mexico have to deal with financial issues that are a result of different reasons, such as a lack of planning or excess of debts, and in this article we will show you how to deal with this trouble.

“It is essential to keep a correct administration of your personal and company’s finances, as it is your and your family’s heritage”, said Salomon Juan Marcos Villarreal, president of Grupo Denim and a Mexican entrepreneur.

If you have some financial issues, check out these tips that will help you with your current situation:

  1. Know the importance of saving money – There are plenty of different financial institutions that can help you start saving money, but you have to know how important it is for you to start doing it, as savings will be your back up in case of an emergency, instead of borrowing money and creating new debts.
  2. Buying without any control – One of the reasons to keep a person indebted is how easy it is to get a credit and make compulsive shopping. Remember that in order to buy something, you should always use cash as the first option, and leave a credit card as your very last resource; otherwise, your financial issues will only increase.
  3. One of the easiest ways to have a better control of your finances is to keep a record of the different expenses you have, write down what you spend your money in, and check it out constantly to see which of those expenses can be reduced or eliminated.

“There are plenty of different ways to have healthier finances, it is important to develop habits that will make you achieve it, such as saving money and control the way you spend your money”, added Salomon Juan Marcos Villarreal.