How to stop buying excess and save up for a dream: expert advice on personal finance
'21.10.2019'
Source: Woman.ru
In the modern world, it is very difficult to do small. Almost every day, new limited collections of cosmetics, fashion clothes and accessories, even chocolates, appear in stores and they strive to surprise you with a new taste. How to resist and not buy another thing, the joy of owning which will be very short-lived?
Woman.ru talked with Anastasia Veselko, a personal finance expert and author of the @ devushka.s.dengami blog on Instagram, to learn how to approach your spending consciously and direct cash flows not to fleeting purchases, but to really important things.
Anastasia Veselko helps girls manage their money, control expenses and achieve financial goals. She admits that she once made all the possible financial mistakes, including a dollar mortgage, but then she took up the mind, began to keep a table of expenses, stopped spending all her money on shopping, started saving and investing. And now he talks about it in his blog “Girl with Money”.
How did you come up with the idea of creating a financial literacy blog?
At first I studied finances for myself personally, I wanted to understand the budget, I really wanted to try the investments, but it was scary, everything seemed complicated and incomprehensible. She studied, read, made mistakes, and finally got used to it. And I thought that perhaps there are still girls who lack such information, told in plain language. Then I got the certificate of a financial literacy consultant at the Ministry of Finance and started a blog.
Can you say about yourself that you always manage your assets correctly? Or are there still misses?
I am a man, not a robot, so misses happen, not everything always goes according to plan. Yes, and I have no hard plan. In the spring I was late for the plane and had to buy a new ticket, it’s unpleasant. Or recently went to the store for a belt, and went out with a dress. But these points are no longer critical, since there is a safety cushion, there is a budget for such spontaneous purchases, and there is a general strategy.
On the subject: Planning a budget: on what you can and on what you cannot save
What are the main 3 rules that can help you start using your budget correctly, you can name?
- Living within our means. Do not spend more than you earn.
- And at the same time strive for more income, why not.
- Set aside part of all income.
What to do to increase your savings? Earn more or spend less?
I like to work in both directions. But more important is control over spending. With any income, you can get caught up in loans like Johnny Depp or Michael Jackson, so just a big income may not save.
What are the things you can say about “waste of money”.
Everyone will have their own list, because everyone has different goals and values. For me, buying a seasonal eyeshadow palette is a waste of money, and for someone, a necessary part of a lifestyle or a way of self-expression. But exactly what is common to all is loans, which one could do without: for an iPhone, for a vacation, for a wedding. I don’t see the point of paying interest to the bank for what will become irrelevant in six months.
How do you feel about loans? Is credit a bondage or a chance to start living better?
Credit is just a financial instrument. With a disciplined and balanced approach, it really can be a chance to "live better", the same mortgage or a loan for business development. But overall, I am against loans and especially against credit cards. There are so many stories that I know how girls do not cope with them and find themselves literally in a credit hole, when all the salaries and bonuses go to pay off the debt.
On the subject: 6 great ideas to help save in America
Give advice on how to properly manage your money, if you still have it.
There are only two main ones:
- Set aside a piece for a critical case. Create an “airbag” - this is 3-6 of your monthly expenses.
- All from Above - Invest! Money can and should work for you.
