The decade of the 30 years It is considered one of the most important because it is the stage where life projects are directed who demand to have an adequate financial health, such as buying a home or starting a family.
LOOK | Smart houses and apartments are the new trend in Peru
“Enjoying good financial health will be key to facing the responsibilities of all thirty-somethings. It is also important to know how the financial system works to make the best decision and take advantage of the benefits that entities in the sector offer to good payers.” explains Guillermo Dioses, finance specialist at Caja Piura.
The expert suggests four financial objectives that people should contemplate before reaching the age of 30:
- Avoid sinking into debt
Acquiring and complying responsibly with a loan, whether mortgage, personal or business, contributes to a good financial profile. “If you have problems dealing with several debts, you can follow the ‘snowball’ method, which consists of ordering your credits from the smallest amount to the largest and paying them off in that order,” affirms Gods.
It also adds that people should be aware of the benefits that financial institutions offer to people with punctual payments, such as rewarding customers who pay their installments without delay.
If you are still beginning your 20s, the best recommendation is to save to carry out activities that increase your chances of generating more income, such as studying a specialization or master’s degree that strengthens your professional profile.
“It is a time where you have more time to do things you are passionate about. The most important step is to develop the discipline to save a percentage of income that allows you to meet your goals”, advises the also head of collections of Caja Piura.
- Start a retirement plan
One of the most frequent mistakes is to leave the organization of a retirement plan for when you turn 40. Experts recommend doing it as far in advance as possible and preferably in a long-term savings account to avoid the temptation to use the money for spur-of-the-moment emergencies.
- Invest to make money grow
When it comes to investing, the best age to learn might be between your 20s and 30s because you have fewer financial commitments and can take more risk with the expectation of a higher return. There are a variety of options to invest.
YOU WILL BE INTERESTED IN:
Ucayali: Shipiba university teaches children their native language through children’s songs
How to keep the vegetables and fruits of my business fresh in the middle of summer?
Exercises in the morning or at night? Know its benefits and which one suits you best
