How to organize your finances and start 2023 on the right foot

The start of the new year always brings with it an atmosphere of renewal. And many people take advantage of this phase to have more energy and start changing some habits, especially the financial, which is one of the most controversial and complex issues to put in order.

Even though it's a challenge, it's entirely possible to organize your finances and start and continue the year with more financial control. This way, you'll have more freedom to achieve your dreams and goals, which may come faster than you think. Here are some tips on how to have a healthier relationship with your money and save money.

Financial planning is the key to success

If you're thinking of buying a property, for example, it's important to bear in mind that this big step requires a lot of responsibility. That's why you need to start organizing yourself.

The first tip is to understand your current financial situation. Only then will it be possible to set up a plan to achieve what you want and calculate the time it will take to do so.

Put your expenses in a spreadsheet, dividing them into fixed ones, such as energy bills, college, etc., and more flexible ones, such as lunches, leisure, entertainment, etc.

By looking at this spreadsheet, you can understand which expenses can be cut and what you need to do to be able to afford the installments on your property.

Installments must compromise up to 30% of your income

In order to organize yourself financially and not be squeezed when buying your property, it's important that your planning includes the percentage that the mortgage installment should take up. Experts recommend that this amount should not exceed 30% of your total income.

Financial planning includes this, as you need to arrive at a figure for your monthly income that is compatible with the property you want to buy.

Pay attention to fees and entry

In order to plan financially and buy your property, it is important to be aware of all the expenses you will have during the process. The down payment, for example, is an important amount that should be the initial value, as a down payment for the purchase of the apartment.

You need to check with the construction company what the minimum down payment is and how much you're going to put down. From then on, you can plan financially to put together the down payment money, understand what the fees are, set aside this money and also the money for the installments.

Watch out for superfluous spending

What can keep you from your dream of buying a property is spending on superfluous items. It's therefore essential to look at your spreadsheet to see where these expenses lie, from a cell phone bill that could be reduced, to lunches out during the week, among other details.

Saving during this period is the best solution for those who want to organize themselves financially and achieve a big dream, such as a property.

And if that's the case for you, today's invitation is to get to know the MOD Paulista. A unique development, with the best location: close to Paulista and next to the metro.