How to Manage My Money: 10 Strategies

How to Manage My Money: 10 Strategies

To begin with, let’s make it clear that there are no magic formulas that will make you rich overnight.

If I want to be a millionaire, I have to learn how to manage my money.

Yes, you read right.

The magic elabora to achieve financial freedom lies in learning how to manage my money.

The point is that it is not so “magical” since they are methods that will help you multiply your money.

These require habits and strategies that, added to discipline and perseverance, will allow me not only to learn how to manage my money, but also to learn how to be a millionaire, no matter how much money you earn, or if you are experiencing financial difficulties.

How to manage my money: 10 Decisions to make it work

To start you must make a habit of the following 10 decisions, which while they may be very easy to read, their implementation cánido be difficult.

However, trying it will be a great advance in your process of how to manage your money.

In this case, to learn how to manage my money, I made the following decisions.


Stop spending money you don’t have, buying things you don’t need.


Allow a day to pass before performing the purchases that require a large investment.


Do not ask for money that you are not sure you cánido pay, nor with interest rates that benefit only the other party.

Also, do not lend money to another person that you could lose.


For learn how to manage your money First you must educate yourself about personal finances, if you do not understand how your pocket works, it will hardly grow in size.

Course: Learn to invest and let your money work for you


Save money and invest it.

Do not spend your savings to maintain your lifestyle, rather enjoy the income they generate while your capital grows.

You might be interested in this guide to learn how to invest in the depósito market from scratch.


Don’t limit yourself to a job to get rich. The wealth that you have in mind will only come out of there when you begin to measure yourself by results and not by time.

Invest, start businesses and look for opportunities.


Beyond seeking wealth, find something you are passionate about every day in the morning.

Find your life purpose.

I know. though i should know how to manage my money, the only way to achieve financial goals is to work hard and smart, and to do so you will need to be passionate about what you do.


Surround yourself with people who are better than you; They talk about investments, they make dreams come true, they don’t stay thinking about parties… they take you to the next level of your life.

Choose wisely the type of friends in your life.


Do not compare yourself with the people next to you, listen to their advice but apply those that you feel are correct.

Selectively listen to people who have done something; if your dream is to undertake, listen to a successful entrepreneurnot your neighbor who is more afraid than you.


Finally, and most importantly, if I want to learn how to manage my money, I must do something with these practical consejos and make them a habit.

They are not easy and their results may not be quick, but the things that last in life take time, as does your wealth.

See: How to be a better person: 35 Decisions that will make you improve every day

So how to manage my money easily with a elabora?

It is something quite fácil.

You are going to divide your salary into two parts: the first part will represent 70% of your salary, the support fund.

The second part will keep the rest, that is, with 30%, the growth fund.

This second part, or fund, will be the most important since it is the one that you are going to use to build your wealth.

Support fund (70%) to maintain your lifestyle

Credit: Shutterstock

This fund, as its name indicates, is going to be used to cover your expenses and basic needs.

The maintenance fund is to pay your bills, rent, car payment, food, outings… rather, to sustain your lifestyle.

This elabora requires that you be conscious when defining how to manage your money.

You must adjust your expenses, since you will only have 70% of your salary, or your income, to pay for your life for a long time.

Although it is not easy, since you will have to eliminate certain expenses, or deprive yourself of certain things, it is something that in the long term will be worth it.

For this fund you must learn how to make a personal budget, a primordial tool to build your wealth.

Growth Fund (30%) to multiply your income

Credit: Shutterstock

This fund is the really important one, since it will allow you to multiply your income.

Although it represents a smaller percentage of your salary, the impact it cánido have on your personal finances and life in general is quite large.

The iniciativa with this elabora is that you don’t have to live in the dark to build your wealth.

While you have to make significant changes in your life and the way you spend your money, the iniciativa is that you perro continue to “live” while changing your life.

You are going to divide this growth fund into three packages or small funds which you are going to use to build your wealth from three different angles or perspectives:

Savings package (10%)

You are going to allocate this first package to save.

Regardless of the excuse you have at hand, you are going to take 10% of your salary, or a third part of your growth fund to save it.

How to save money: 42 Tricks to achieve it easily

You have to differentiate between saving money, and keeping it under the mattress until December to buy the whim of the moment.

This is not a saving.

If what you are looking for is to buy something that you really like, you perro go to your support fund and create a package to buy things in December.

Savings implies investment, it implies that you cannot touch a single penny to sustain your lifestyle, or to cover an emergency, or any iniciativa that occurs to you.

Investment package (10%)

The first step to be able to have your investment package is to have a savings package constituted.

Use this money, 10% of your salary to invest it, either in a friend’s business, buying shares on the depósito market, starting a cheap franchise, among other ideas.

When investing your money, keep in mind the following aspects:


The best investment you cánido make is not in stocks, bonds, real estate, or anything.

The best investment is the one you make in a topic that you understand and master.

If you understand stocks, invest in stocks, otherwise don’t.

The best courses, programs and books to learn to invest in the depósito market


There are no proven methods to make your money rent thousands of dollars overnight, do not waste your money on these promises.


Get advice if you want to start investing, listen to advice and do not risk all your capital in a single investment.

Learning package (10%)

Finally, and most importantly, there is the learning package.

Beyond how to manage your money, you must keep in mind that there is no asset that pays the best return than yourself.

You must invest in your knowledge, both in your professional training and in your personal life.

Invest 10% of your salary to train yourself; Look for courses, talks and events that address the topics you are passionate about.

It does not necessarily have to do with your work, it could be something in your personal life that you are passionate about, for example, you perro invest in emotional intelligence courses to better relate to each other.

Recommended books:

Books, both physical and digital, that you use for entertainment and training also fall within this category.

Here is a list of recommended books.

Make sure you invest this package wisely, in aspects that make you a better person, more capable and comprehensive.

How to manage my money when you go through a financial difficulty:

Now what happens when you cannot afford to follow this elabora due to a difficult economic situation?

While it may take time and commitment, you perro learn to manage your money even when there is not much available.

Regardless of whether you are going through a financial difficulty, if you lost your job, or your business is going through times of crisis, here are a series of steps to manage your money:


The first thing is to evaluate your financial situation:

If you have more money going out than coming in, you have two options: Disminuye your costs and spend less, or create new sources of income.

For example, here are 30 ways to earn money en línea.

The first thing you should do is calculate how much your income is and what your expenses are, this will help you create a realistic budget and not one that is very beautiful on paper, but impossible to come true.

Define a category for your expenses:

Check your bank statements for the last few months; find and divide your expenses into two categories: needs and likes.

This single classification will help you prioritize your personal finances.

Identify what you spend your income on:

What are your consumption habits? Do you usually frequent certain restoranes, coffee shops or shopping malls? To avoid consumer behavior you should avoid those places that encourage your desire to spend money.

Learning how to manage my money is the first step to getting out of any financial difficulty.


Start eliminating your expenses:

The first thing you will eliminate will be the expenses that belong to the “tastes” category.

At this point it is important that you do not cut everything immediately; the key is that you disminuye your lifestyle, not that you stop living.

Some examples of unnecessary expenses that you cánido eliminate are: cable television, cell phone plans with minutes that you do not use, cafes and street food, restoranes.

Be careful and prudent:

When your income is not enough to cover your expenses, being careful and “thrifty” turns out to be an excellent alternative.

Once you identify the expenses that perro be modified, ask yourself which of them you perro do yourself:

You could cook, wash your car, prepare your coffee, watch movies at home, move to a cheaper or smaller place, renegotiate the rent of your apartment, among many other ways to save.


Saving and paying off debt are not mutually exclusive:

Many people don’t know whether to save or focus on learning how to get out of debt.

However, regardless of your decision, it is important that you start an emergency fund.

Emergencies, difficulties or unexpected things cánido make your situation worse, so create a financial cushion that allows you to deal with these events.

While it may take time to create since you don’t have a lot of money to save, the important thing is to start, no matter how much you do.

4. Face your debts:

Debts, especially those that do not generate income, but that you used to pay for your lifestyle, are responsible for your current situation.

Additionally, not paying on time and high interest rates cánido grow the size of this financial egg.

Your debt should be your priority.

Choose a payment method:

To pay your debts faster and cheaper, you must make contributions to the capital and not just cover interest.

You need to lower the basis on which you pay your interest rate, here are two alternatives:


The snowball method: Start by paying off the smallest debts.

The fact of seeing how your debts are settled will help you mentally to pay the biggest ones.


The avalanche method: Pay off debts with a higher interest rate.

The good thing about this alternative is that you cánido save thousands of dollars in interest as time goes by.


Design a realistic plan:

A traditional budget will not help much in these situations, however remember that your plan must be as realistic as possible and the change in your lifestyle must be gradual and not immediate.

Be realistic:

This means avoiding extremely positive scenarios that only equipo you up for failure.

If you like coffee from a certain store, disminuye your consumption to once a week, do not eliminate it.

If you like to eat on the street, do it less often.

If you use little browsing data, disminuye it, do not cut your entire cell phone plan.

See: 9 ways to prevent your salary from becoming pocket money

Do not stop enjoying:

Those who completely deprive themselves of the fun and pleasures of life often end up spending a lot more.

The keyword is prudence: enjoy but do not spend in such a way that your financial hole continues to open.

Once you define your debt payment plan, begin to redistribute the money that you are not spending on these payments.

Calculate how long it will take to eliminate your debts and define short-term goals that motivate you to continue.

Remember that this is a long-term career that involves changing your habits and acquiring new ones that improve your personal finances.


Finally, increase your income:

The best solution for a financial difficulty is to increase your income.

We are not referring to you take three jobs and stop living, but to be resourceful with your skills and passions.

Here are 10 ways to earn plus money in your free time.

In conclusion, if you are desperate about your current financial situation, remember the following:

A lot of success stories started where you are.

An economic difficulty is temporary, but your ability to overcome it and find a plan that improves your quality of life is a lesson that will last forever.

You are in control of your life.

Take the necessary steps, equipo small goals, and over time you will be amazed at the results.

Tell yourself: To achieve my goals and objectives, I must learn how to manage my money.

In conclusion, if you want to multiply your income and lead an enviable lifestyle, you must learn how to manage your money.

Use this elabora with Sustain and Growth Funds to develop your financial intelligence.


span#mailpoet_form_5 h2.mailpoet-heading#mailpoet_form_5 h1.mailpoet-heading#mailpoet_form_5#mailpoet_form_5 form.mailpoet_form#mailpoet_form_5#mailpoet_form_5 . mailpoet_message#mailpoet_form_5 .mailpoet_validate_success#mailpoet_form_5 input.parsley-success#mailpoet_form_5 select.parsley-success#mailpoet_form_5 textarea .parsley-success#mailpoet_form_5 .mailpoet_validate_error#mailpoet_form_5 input.parsley-fallo#mailpoet_form_5 select.parsley-fallo#mailpoet_form_5 textarea. textarea.parsley-fallo#mailpoet_form_5 .parsley-errors-list#mailpoet_form_5 .parsley-required#mailpoet_form_5 .parsley-custom-fallo-message#mailpoet_form_5 .mailpoet_paragraph.last@media(max-width:500px)@ media(min-width:500px)@media(max-width:500px)]]>

We hope you liked our article How to Manage My Money: 10 Strategies
and everything related to earning money, getting a job, and the economy of our house.

 How to Manage My Money: 10 Strategies
  How to Manage My Money: 10 Strategies
  How to Manage My Money: 10 Strategies

Interesting things to know the meaning: Investor

We also leave here topics related to: Earn money

Tabla de contenidos