After having spent a large part of your lives working and saving, it is time to make good use of that mattress you have created for your golden years. The idea is that we can live with a good quality of life and we can also indulge ourselves with a craving from time to time. For this, we give you some tips on how we can organize our finances and make the proper use of our money.
- Carefully spend of the savings which you have made during your entire working life since the money you have after the retirement will be what you will use to live this period of life. That is why good management or planning of expenses is essential to make good use of this income.
- Maintain a good organization of documents, this is essential to have at hand all the important information such as bank account number, users and passwords, health and life insurance contracts, bank contracts and bank account statements and other financial documentation. For this, we can have a folder or a file in which we keep these documents together and classified.
- It is important to have a notebook to plan income and expenses. It is a way to prevent and control the money that you will need or that you will use during your day today. An easy way to go writing our “financial balance” is, for example, to use three columns: in the first you will write down all the expenses that you have planned and those that arise during the month, such as food, hygiene, medicines, cleaning, personal care, and accompaniment, etc. In the second column, you will record the income, such as retirement, life annuity, and fixed term income, among others. And in the last column, we can write the savings that will be a fund for sporadic expenses such as trips (inside or outside), spa sessions, among other things that we want to give away.
- Make a good selection by including someone as a co-owner of your bank accounts. You have to remember that the co-owner can also manage that bank account and dispose of the resources that are in it, that is why you must choose a person who is completely trustworthy.
- Review your account statements, preferably once a week to verify expenses and purchases you have made, so you can identify uncharacteristic charges and file a complaint with the bank if necessary.