Advises to create a culture of saving from home
Financial specialist and debt management consultant Ana Brioso explained some actions to take to maintain adequate financial health and achieve an excellent credit score.
Speaking during an interview on the program “Cada Vez Más Cerca” (Getting Closer), hosted by architect Kalil Michel, Brioso said that the first thing a couple should do at home to achieve financial health is to maintain a plan for their expenses, in relation to their income.
“For them to have adequate financial health, first It is planning, above all, and that this begins at home. Couples should sit down and evaluate: this is what we need. This is our consumption, this is our income. We are going to unify it, we are going to establish which item we are going to determine for each of those expenses that we have,” explains the specialist.
Ana Brioso said that what most influences Dominicans to have poor financial health is that they allow themselves to be carried away more “by outside sources than by what they really need,” which leads them to incur in unnecessary expenses.
Financial education at home
Understand that financial education must be implemented at home to achieve a culture of savings through good financial management, control of loans, if any, and proper management of credit cards.
“People are very focused on consuming, competing and doing what others do,” explains the expert, adding that the common denominator of Dominicans is that if their neighbor bought a vehicle, they want to do the same. “If the neighbor bought a Civic, well, I want a Civic, but right now I can’t buy that Civic.”
Harmful social networks
The financial consultant believes that the advancement of social networks also influences the poor financial health of Dominicans, since they show users what they want, and they do not always have the means to get it.
In this regard, he explains that proper planning of household expenses is key to maintaining financial health, avoiding mismanagement of available resources.
The specialist advises that even those who do not have a fixed monthly income can maintain adequate financial health, as long as they can plan their expenses according to what they earn. “If this person makes good plans, even if they are paid daily, because that is how they generate their income, they will be setting aside that portion that corresponds to each of their expenses.”
Ana Brioso is a financial advisor, offering talks on debt management, credit card use and personalized advice. She has a degree in accounting from the Autonomous University of Santo Domingo (UASD), and a master’s degree in Financial Administration from APEC University. She also has a postgraduate degree in Project Management from the European Business School of Barcelona. In addition to other studies and specialization in the financial area.
