The Ministry of Finance said that there are three priorities to which individuals should direct their savings: the elimination of debt and the allocation of a reserve for emergency and then investment.
Get rid of debt: Finance advises to start paying small amounts, and then add an additional amount to the next monthly repayment installment to reduce the value quickly, until the payment of the full debt, and then, can start saving.
Set aside a contingency amount: Unexpected costs often take us back, so allocating an emergency fund with between 3-6 months of expenses provides you with protection against unforeseen expenses and high debt costs. Keep these provisions in separate savings accounts For an accessible benefit.
Growing Growth: You can start building your fortune now, and there are many ways to invest and increase money by choosing a passive income source, from low-risk investment funds to real estate assets that make money effortless.