It’s likely you’ve postponed organizing your finances time and again. Unlike a job with a boss demanding results, managing finances is often uncomfortable but essential. Yoel Sardiñas, speaker and founder of Investep Academy, emphasizes that there’s no need to wait for the “perfect moment” to start. No extra knowledge, money, or time is required to change your financial reality—just the decision to take the first step.
1. Design a purpose-driven budget: Understanding your money deeply is crucial. Organize your income, expenses, and debts, and identify surpluses. Aim to allocate at least 10% monthly to invest in assets. Tools like Fintonic or Spendee—or even a simple Excel sheet—can help you begin. The key is to start today.
2. Discover your risk profile as an investor: Whether conservative or risk-taker, self-awareness is vital. Sardiñas suggests that understanding your investor profile helps make informed decisions aligned with your goals. Free tests can help identify your profile and kickstart your investment journey.
3. Apply 15 minutes of power to transform beliefs: Money is as much mental as practical. Dedicate at least 15 minutes daily to work on limiting beliefs about investments, money, and abundance. Books like “Secrets of the Millionaire Mind” or “The Science of Getting Rich” can be transformative. Remember, the invisible precedes the visible in finances.
4. Do a 7-day financial detox: Consumption is a silent addiction hindering financial progress. For seven days, avoid impulse purchases, review automatic payments, and pause reward-based spending. Each night, note the emotions generated by these decisions to analyze your financial behavior. This exercise will reveal invisible patterns sabotaging your economic growth.
5. Take your first step towards the New York Stock Exchange: The stock market is no longer just for experts. Today, more than ever, you can educate yourself on how it works, what assets exist, and how to leverage opportunities in the global economic order. Research stocks, ETFs, or indices like the S&P 500. Understanding the market could be the most profitable decision of your life.
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