There are decisions in our lives that condition our future and financial culture can help us

BY EU STUDIO

Updated Monday, November 7, 2022-11:54

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Financial

is that

that helps us make decisions in our monetary field in a conscious and sensible way.

And the truth is that we all need to manage these skills to be more capable of achieving the goals we set for ourselves.

Finding the desired balance between income and expenses is not easy, but as Xavier Puig, professor of Economics and Business at the Universitat Pompeu Fabra - Barcelona School of Management, explains, having certain tools can greatly facilitate this task both now and in the future.

delves into this fundamental question of daily life.

Deciding how to distribute income, order and control expenses, determine what amounts are allocated to savings... these are tasks that require moments of reflection.

As Xavier Puig points out, "whatever profession we have, we all relate to money".

.

Because, it is true, that there are

in our lives that

and financial culture can help us make them more efficiently, such as guiding our retirement, a future investment or a certain insurance.

In the end, in all areas of life, information is power.

A central theme of home economics is

.

Financial culture can help us shed some light on this matter.

Thus, Xavier Puig distinguishes three types:

-

: consisting of saving money at the end of the month.

-

that is dedicated to savings to build what we call an emergency fund.

The money for contingencies of a lifetime.

-

: intended for our retirement.

Here we embark on a long-term project.

Xavier Puig believes in the importance of this last concept.

"

or look good, when we retire, it is necessary to plan that retirement. And the sooner, the better, "he emphasizes.

Then comes the time to determine whether contributions can be made to a pension plan or an investment fund, how much... and determine what the return on money will be once the time comes to leave the professional world.

"Financial culture can help us know what savings or investment tool we have so that money grows faster, and which one suits us at every moment of our lives," explains Puig.

Acquiring principles of financial culture and including it in our day-to-day life will bring us

-being .

Here, balance becomes a key factor: between income and expenses;

investments and debt.

Also between the short and long term.

THE IMPORTANCE OF FINANCIAL CULTURE

All these tips from the professor are part of the 'Much to Do' project, a

through which CaixaBank disseminates

linked to the most frequent vital projects of the population.

In addition to the notions of the finance experts Xavier Puig and Natalia de Santiago, in this portal relevant figures from culture, sports and gastronomy share their personal and professional experiences to illustrate how important it is to achieve success to be able to manage basic financial concepts such as entrepreneurship, indebtedness or bank security.

Journalist Helena Resano chats with soccer player Alexia Putellas.

In this case, the soccer player Alexia Putellas tells us how the application of

and

have been key in her career.

Also, the importance of knowing how to adapt to changes and understand the importance of always moving forward, despite the bad -and inevitable- moments.

"Every day we have opportunities. Accept that you can have a bad moment and then turn it around and overcome it," she explains.

You can see the full interview with Alexia Putellas here.

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