Money management can be stressful for most people. A recent survey by the American Psychological Association showed that 72% of Brazilians say they are very stressed because the cost of money is increasing every month, and almost a quarter of people say that their stress level is extreme in relation to future expenses.
Currently, ongoing financial problems have led to significant stress in the lives of Brazilian citizens. The best solution is to live modestly, no doubt this can fix many of these problems.
And when emergencies arise, this stress can get worse. A 2014 Central Bank report showed that 47% of Brazilians were unable to cover the financial need of $ 1,500. This is a serious number. By learning to spend less than you earn, you will be able to create savings that cover any possible emergency, and also eliminate the likelihood of being cheated with fraudulent loans.
Building Financial Confidence
When you are able to live below your costs and expenses, you can begin to see your savings grow, as this creates financial confidence. Not to anything better than taking control of your money, instead of feeling as though he had control over you. By gaining that confidence, learning to trust yourself and your financial decisions, you will make smarter choices.
Building financial confidence comes from educating yourself on better ways to manage finances and then applying that knowledge. Learning to live within the limits of income and actually doing this, will help you on your way to financial freedom and not fall into scams.