Let’s face it: spending is very easy, it’s even easier to lose personal financial control due to lack of organization. With that in mind, we’ve separated 9 essential tips to help you maintain control over your finances, without having to spend even more money and the best: so that you can plan to achieve your goals and dreams. Come with us!

Much has been said about finance, but many people do not understand very well what it is and worse, when they do, they do not know very well how to start carrying out personal financial planning and control.

If you have a very big “yes” to all these questions, then you certainly have a problem that you need to solve!

And do you know exactly how? 

Personal finances are everything related to money and the financial environment of your physical person.

And in this article you will learn how to carry out personal financial control for a more organized life and focused on your goals. 

Why is it important to carry out personal financial control?

A good personal financial control must be included as a habit in your life to organize all your monthly and annual receipts and expenses, taking into account the amount you receive in the month, fixed bills and general expenses.  

It is an important habit, as it is very common to find people who do not know very well how much they spend in a month, and, consequently, are faced with financial lack of control.

Therefore, understanding personal finances and knowing how to control them is as fundamental as going to work every day. After all, money is part of our lives and without it we don’t have anything to eat, we don’t shower, much less do we have access to leisure.

Understanding and learning about how to control personal finances is the best way to get out of the red, and it starts with taking care of your budget, your dreams and your goals.

In this way, check out the 9 tips that we have separated for you below, so that you learn once and for all how to control your personal finances, and stop losing sleepless nights thinking about how to pay that bill that is overdue.>

9 tips for personal financial control that you cannot miss (nor ignore) 

Now that you understand the importance of carrying out personal financial control, carefully read the tips below and  start  putting them into practice today. 

1. Identify and monitor monthly spending and expenses

The first tip is for you to start getting organized.  

Take a piece of paper and a pen and do an exercise at home: list all the fixed bills you have in the month, such as: 

  • Rent;  
  • IPTU (if you pay in installments); 
  • Light; 
  • Water; 
  • Average amount spent per month in supermarkets; 
  • Phone/cell phone account; 
  • Internet; 
  • Transport; 
  • School/college, among others. 

What is the average value of all these accounts?  

The value shown represents your cost of living, and it is not very  variable,  but it is essential and probably the largest part of your expenses. 

Keep this value in mind, and what remains will be the value you have available for variable costs such as leisure, investments or financial reserve. 

2. Check priorities and set goals

Your savings cannot just be based on what is “left over” in the month. And with the lack of control, there’s often nothing left, right?  

Your savings must be a priority for you to reach your goals. That is, they must become a goal. 

If your priority is to save money for a down payment on a car, then do the little exercise: from the money left over, how much can I save per month? 

Make it a monthly habit and set aside that amount for your goal. Preferably, as soon as you receive it, keep that money in a different place from where your money is for fixed expenses and variable expenses such as: leisure, clothes, beauty, among others. 

One way to keep track of your money and know where it goes is to set spending targets for each area, such as: 

  • 15% of what is left for leisure (snacks, ballads,  happy  hour, movies); 
  • 5% for clothing, accessories and beauty such as salon and barber shop. 

But, of course, this value is also variable. After all, you won’t buy clothes every month if you have set goals, for example. 

Another tip is: make a wish list of what really matters to you, and separate the value to fulfill one wish at a time. 

3. Spend less than you earn

The basics sometimes become the most important. And many people are not in the habit of checking their bank statements and sometimes have the feeling that they are spending less than they earn because of their credit cards. 

Therefore, the third tip is the following: check your statement frequently and avoid spending more than you earn, so you can invest the amount in other areas of higher priority. 

And always think in the short, medium and long term. Installing a new, high-tech television in 12 installments on your credit card doesn’t mean you spend less than you have, it just means you have an extra fixed bill to worry about every month. 

Do an analysis of what you earn, apply the first two rules. If the new television is a dream, that’s fine, but be sure to pay essential bills to make dreams come true.

Because, when you least expect it, you will be in the red again due to lack of  planning . 

If necessary, get organized first and then buy the television you want.

4. Reduce the number of bills and avoid credit cards for better personal financial control

Having multiple checking or savings accounts at different banks only adds to your lack of financial control. Plus, the fees charged for withdrawals, transfers, monthly maintenance fees, and other services can make a significant dent in your budget. 

Therefore, reduce the number of accounts, preferably keep only one, and avoid recurring credit card use.  

In addition to reducing costs, it is easier to monitor and control your monthly expenses. 

When you start using cash or a debit card, you begin to have greater personal financial control, and you will know exactly where your money goes. 

5. Learn how to save money and eliminate waste

Have all the tips above in mind? Cool! Now you know exactly where your money goes. This way, saving becomes even easier.

There are no economic rules, it will depend on your lifestyle, the amount you earn and your priorities.  

Grab a pen and paper again, or use an app to manage expenses , and ask yourself: 

  • Based on the fixed expenses I have per month, what can I save? 
  • Can I reduce transportation costs?  
  • Can I save money at work by taking lunch from home instead of buying it every day?  
  • What is my daily spend on small items? Are they necessary? 

Another important tip is to reduce waste. That is, those items that you pay for but do not use. So, check out some practical examples below that can help you: 

  • Do you have subscription TV and don’t watch it? Cancel.  
  • Do you have a landline at home, but don’t stay at home? Cancel. 
  • Is your cell phone plan for calls and mobile internet superior to what you actually use and need? Lower the plane. 
  • Do you pay for the gym every month and only go when you feel like it?   Stop wasting your money on this, choose to perform exercises at home or outdoors if you only want to do them when you feel like it. 

Savings and reducing waste is a way to achieve your desires faster. In addition, it is also a way to save money for that year-end trip, without worrying about whether you will have money at the beginning of the year for annual bills such as IPTU and IPVA. 

6. Learn to compare prices and use a discount coupon 

Certainly, not comparing prices can be considered a villain for your personal finances. Because, often, the price variation between one store and another is considerably high. 

Also, there is no shame in “haggling”.

To make it easier, you can use comparison apps. A great savings is to buy things that are used and in good condition and will serve your needs in the same way that a new product would.  

Use discount coupons in stores. With the advancement of technology, many applications and even Google extensions have been created to facilitate your product search and price comparison. 

7. Set aside money for annual expenses

Enter year and exit year and the error continues. That is, people forget about annual expenses, and when they realize they are in the red at the beginning of the year. 

Therefore, to prevent this from happening, when making your planning, make it a goal to save part of the money every month for annual expenses such as IPTU, IPVA, insurance, among others. 

8. Learn and teach your family about personal financial control

If you are single or live alone, you don’t have to worry about this issue. 

On the other hand, when you live in a family, it is extremely important that everyone is committed to achieving the goals of the house to avoid small and even large conflicts. 

Therefore, create moments that involve the discussion of personal and family objectives, priorities and goals around money. Consequently, over time, you will see that everyone will celebrate the achievements together. 

9. Bet on technology for personal financial control

Make financial apps your personal financial control’s best friends.  

In this way, technology will optimize control and facilitate organization, and you will only use a few minutes of your day to feed the system and keep everything the way it should be. 

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