Financial market specialist Victor Loyola gives advice on avoiding default and keeping personal finances up to date
We are already halfway through the year! A lot has happened since you planned your goals for 2022. Have you ever stopped to analyze what your financial life is like at this point?
A survey published by the National Confederation of Trade in Goods, Services and Tourism (CNC) revealed that the the default reached 28.5% of Brazilian households in June. Among the debtors, 86.6% have credit card debt. The number is alarming, but there is still time to reverse the situation, to get out of the “red” and achieve what was desired.
For this, it is necessary to make detailed records of the budget itself, as recommended Victor Loyola, entrepreneur of the financial market. This is because, by putting all the bills on the tip of the pencil, you can know precisely how and how much you spend your money, what your debts are and which ones should be prioritized.
How to plan:
The first step in organizing personal finances is create an expense spreadsheet – or find one ready-made on the Internet – and then enter monthly expenses. If you wish, you can also download applications from your mobile phone that offer the ability to include cash inflows and outflows, view graphs, as well as receive reports.
However, regardless of the tool chosen, the most important thing, according to the expert, is record all goals at the beginning of the month and follow them frequently. And, at the end of each month, analyze the cash flow to understand how the income was distributed and, if necessary, identify where costs can be reduced or cut.
I got into debt, now what?
The problem is that there are so many slippages that it is often difficult to keep debts up to date. Therefore, Victor remembers him there are alternatives in case people realize they will need help closing the month (or year) “in blue”. Among the most common are loans. The big question is that you need to keep an eye on this type of offer, as there are now places that offer this financial product with abusive interests.
“There are now a few ways to get credit in the country. But some of them have exorbitant interest rates, like credit cards and overdrafts. In this sense, payroll deductible credit seems like the best option. 70% less and is offered in partnership with the Human Resources office of the partner companies. Therefore, it comes with financial education programs, which help pay off the loan as well have a direct discount on the paycheckreducing the default “, explains the specialist.
So, before you make that commitment, assess the conditions and the different types of credit on the marketand choose the one that best suits your pocket.
Source: Victor Loyola, Neon partner and delinquency specialist.
Source: Terra
Benjamin Smith is a fashion journalist and author at Gossipify, known for his coverage of the latest fashion trends and industry insights. He writes about clothing, shoes, accessories, and runway shows, providing in-depth analysis and unique perspectives. He’s respected for his ability to spot emerging designers and trends, and for providing practical fashion advice to readers.
