How to make money work in the midst of 13.25% inflation

in the middle of a national inflation rate of 13.25%Colombians are looking for a way to make their money work, either by saving or reducing expenses.

Given this, the life insurance company liberty compiled a series of tips for people can manage their finances in the midst of this situation that affects, in one way or another, all the inhabitants of the country.

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Ant expenses are those expenses that may seem minor, but that in the future can negatively affect a person’s budget. What Liberty Seguros advises is to have a better planning of expenses: “We recommend choosing a monthly budget for these ant expenses and start adding up the small purchases, in such a way that this budget leads to a spending limit.“.

If you’re going to buy something, make sure it’s something you need or that works for you. This means that it is best to analyze your financial situation well to have a better idea of ​​how much you are going to spend and on what.

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“If you are teleworking and the level of expenses has dropped, you can take advantage of this moment to save, especially given the job uncertainty that has been generated since the start of the pandemic, avoid going to online shopping pages and unlink credit cards of mobile applications”, explained the company.

If you live in a city, the safest thing is that you allocate part of your resources to get around, be it by public or private transportso it is best to adjust these expenses to those that are strictly necessary: ​​“We recommend having a table of fixed monthly transport expenses and taking a percentage of this for savings, assuming that you were actually commuting to work normally”.

It is basically having your finances organized. Take into account everything you earn and organize your fixed and occasional expenses. Likewise, have an emergency budget in case something new arises: “Write down the expenses that are given on a day-to-day basis, at the end of the month, to take stock of the money that is being earned, as well as that which is being spent. The important thing here is to get to not spend more than what is earned, that is the purpose”.

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Inflation does not come alone, and that is reflected in the price of inputs for gastronomic establishments and, therefore, in the price of the menu items. Faced with this situation, Liberty recommends starting to cook at home in order to save a few pesos.

“When cooking at home, expenses are measured more accurately. It is important when going to the supermarket to choose the products according to the budget and needs, a good recommendation to avoid buying more is to make a list of daily menus for the week, that way when you buy in the supermarket the products will be identified necessary to purchaser”.

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