When we have not yet taken off our swimsuit and left the beach, there are many Spaniards who are preparing for a return to routine that, for now, it says will be complicated. To deal with expenses, experts stress the importance of planning and forecasting .
Specifically, they recommend carrying out a family balance, which is neither more nor less than a small space where all the accounting information of each household is gathered, where the income of each member of the family is recorded, as well as the expenses that they generate. In this way, people will be able to obtain a series of objective results that will help them to know the real state of the domestic economy.
Having a family balance is not a complex task and all that is needed is a few minutes a week where you can meet and capture all the activity in the house in a numerical table. The experts at Prestalo, the online loan marketplace, point out: “From companies in the finance sector like ours, we feel we have a duty to educate people about using their finances responsibly and consciously.
In line with the upward trend in the demand for loans, we carry out the work of the entire team to advise users what type of loan is most suitable for them”, explains Kristoffer Hanson, CEO of Prestalo. According to the marketplace, loans aimed at education and technology grew by 80% and 20%, respectively, in relation to the previous year. In addition, the average amount requested by the users of the marketplace is around €4,600 to face this return to school.
How to prepare a family budget
Excel and start date : The best way to start a family balance sheet is by planning a start date. Normally, the first day of the month is always the reference for all those people who start with this accounting project. Once you have assumed that on the next day 1 you begin to record the economic activity of the whole family, it will be interesting to begin to identify what is considered income and what will be an expense.
Insertion of information and commitment : A family budget must always be characterized by being a reflection of the reality of each household, where each of the income and expenses, as well as pending debt, are reflected in the table that has been created . At this point, it is key to create the daily habit of keeping it updated . It will not take more than a few minutes and as the weeks go by it will take shape and offer really interesting results.
Assessment and analysis of the family budget : After the month, it will be time to take stock of the situation and analyze what we have spent the money on and what the final result is. If the figure comes out positive, we will be on the right track. However, if we already started the first month in the red, it will be more than enough reason to start evaluating cuts in some aspects. There are apps like Balio or Goin, very easy to use, that allow you to control personal and household finances from your mobile .
Facing the cost of spending on school supplies and technology, in a challenge to which is added the increase in the price of food, housing, and electricity, among others. In this sense, experts recommend being aware of the available budget and comparing prices. “There is talk of a post-pandemic economic recession, which will affect most countries, including Spain. For this reason, it is very important to advise users which is the best option for them and thus try to ensure that no user gets into debt. and even what is the maximum quota that the user should assume according to their profile”, explains Kristoffer Hanson.