|Your personal background.|
|Saving tips so that as a salaried or freelancer you can buy a house|
ACHIEVING THE GOAL OF SAVINGS IS POSSIBLE, WHETHER YOU ARE A SALARY OR FREELANCE. TAKE NOTE OF THESE TIPS FROM A FINANCE SPECIALIST.
Previously we shared very useful tips so you can increase your wealth and collect the down payment of a house , as well as 5 specific steps that will help you follow the most suitable path to choose the ideal house.
Today we give you more tips so that you can increase your capital, whether you work under contract for a company or work on your own. Take note of the advice that Karla Bayly, specialist in financial coaching, shared in an interview with Vivanuncios, eBay's real estate portal in Mexico where you can find more than 300 thousand houses and apartments for sale or rent.
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IF YOU ARE A SALARY
• Generate extra income, either looking for a second or third option to exploit your knowledge and skills to get paid for it
• Do not spend your Christmas bonus, your annual bonus or any extra income on gifts or vacations: use it for savings for your down payment
• Eliminate unnecessary expenses, saving on breakfasts or meals of the month can help you a lot, you just have to do the math to see how much you would save if you take food to work or buy coffee only twice a week, instead of doing it daily.
How to use your Christmas bonus effectively to pay for your house 2133
IF YOU ARE FREELANCE
• The essential thing for all freelancers is that they know their monthly fixed expenses perfectly and that they have a secure source of income to cover them. Once you have this clear picture, you can mark an action plan for other expenses and for savings
• Try to have another income that allows you to face or avoid emergencies. You may think that you are young and healthy so you do not need medical insurance, however breaking an arm or needing surgery for appendicitis can put you in a very difficult financial situation. Prevention is better than regret, or worse, than going into debt
• Once this is done, try to generate a three-month savings cushion from your salary to have relative peace of mind in the face of unforeseen events.
"When the economic or political situation is uncertain, it is advisable to collect the equivalent of six months or even a year of your salary as an emergency fund," says Bayly.
As a freelancer you need to adopt conservative measures. In that sense, it may be a better idea to postpone your trip to Europe and invest that capital in your education because, by upgrading, you can have a higher value in the labor market.
Being in control of your finances is essential for you to start building your wealth on a solid foundation. Do not trust that the situation will improve in the short term or that you will get your job promotion in a month, sometimes the unforeseen can make you a bad move. Therefore, it is best to always be one step ahead and have the minimum of debt. Becoming a homeowner is not impossible, but it definitely requires order and discipline in personal finances.
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