The headache with expenses at the beginning of the year is a reality for many Brazilians. Expenses with IPVA, IPTU, school materials and insurance are some examples. Therefore, it is necessary to organize well so as not to end up in debt.
A good way to prepare for the new year is to set a budget and look for ways to save on expenses. “Looking for ways to optimize income, either by saving money or getting a money extra, can make a difference in those hours. It is very important to include the payment of these expenses over the months in the budget for expenses for the year”, advises Larissa Brioso, economist at Mobills, a financial solutions platform.
Next, we’ll show you some tips to help you better manage your expenses at the beginning of the year. Check out!
1. Evaluate the best IPVA payment option
Considering the Tax on Motor Vehicle Ownership (IPVA), the ideal would be to pay in cash, given that the payment of the IPVA in a single installment can be made with a discount of 5% to 20% depending on the region, within the established period by each state.
However, we know that the payment this type of tax can end up weighing on the budget of those who have not made a reserve of money for this purpose. So, in these cases, installment payment is an option. In the case of IPVA, it can be done from 3 to 10 times depending on the state. So, it will be necessary to ensure that these installments are included in the spending plan and that they are paid on time.
2. Reduce spending on school supplies purchases
As enrollment/re-enrollment expenses tend to be less flexible, smartly shopping for school supplies will be the big difference. Before going shopping, it is very important to make a list with all materials that are needed. At this point, it is worth analyzing whether the student has any items that can be reused in the new school year.
This shopping list can be done in an online store, for example, where we can find better prices and it is easier to follow changes in values. Currently, there are virtual stores that show the difference in price since the item was added to the list, and even allow free and fast shipping. Comparing prices, whether in a physical or virtual store, is an important precaution for anyone who wants to make a good purchase.
3. Invest in financial organization apps
The achievement of our goals depends on the financial organization. Ideally, they should be clearly defined in a financial control platformsuch as Mobills, and that each month’s planning is thought out in a way that directs part of the income towards the goals.
At the beginning of the year, the expenses already mentioned will have priority in the budget and may have greater savings directed towards them. However, the greater our ability to save money, consequently we will also be able to direct that income towards other goals, such as the medium and long term.
The main difference is where we keep that money. In the case of medium and long-term goals, we can seek greater profitability in financial assets, even if they are less easily redeemable, considering that we will not need to use that money soon.
4. Make extra income
A good alternative to relieve your pocket is to make more money enter the account. In the day-to-day rush, this can be a difficult task, but there are interesting options to help you: invest in points and cashback, be a reseller of products, sell sweets and snacks, make a thrift store of things you don’t use , rent rooms, translate texts, invest your money, etc. The ideas are varied! Your skills and knowledge can become money more, just explore the opportunities well.
By Larissa Andreoli
Source: Maxima
I am an experienced author and journalist with a passion for lifestyle journalism. I currently work for Buna Times, one of the leading news websites in the world. I specialize in writing stories about health, wellness, fashion, beauty, interior design, and more. My articles have been featured on major publications such as The Guardian and The Huffington Post.