Autonomous Finances - Zinny Factor

Assessing financial needs, comparing, establishing a spending plan, or setting short-term goals are some of the key points to be self-sufficient in finance. Autonomy is the condition of someone who, for certain things, does not depend on anyone, a characteristic that we should not disdain when managing accounts and personal finances.

For this reason, digital banking can be good to stay on top of your finances and raise awareness about the importance of being autonomous. You should be well aware of your bookkeeping and look at a service such as a Bookkeeper. You can look at bookkeeper launch reviews to see what people are saying. 

Account control

Know perfectly what the monthly income and expenses are, what money is available to save, what extra expenses may occur in each of the months of the year are essential for good finances. This is the first step to be autonomous; as well as knowing what commissions or extras your bank charges for carrying out certain transactions.

Know the tools at your disposal

Both the banking interface and the bank’s apps or others that are used for financial management allow numerous options and management possibilities that greatly facilitate the control of accounts. Some even allow expenses to be grouped under the same label to know the final amount of costs such as vacations, work at home, or the expenses at the beginning of the course.

Evaluate your needs

Why open the account that your bank wants? You should know what your needs are before opting for one account or another: payroll, savings account, deposit? Once you know what the objective of opening your account is (for ordinary expenses, to try to save, to keep the money safe …) Study the differences between the two, what commissions each has, what advantages they offer, etc. 

Compare before choosing

In the past, parents opened the first account for their child in the family bank; But once the age of majority is reached, everyone can make their own decisions about where they want to have their money. To choose a bank, it is best to use comparators that inform you about the pros and cons of each of them, what type of commissions they charge, if the cards or transfers have a cost or not, or what are the maintenance costs. Write down the ones that best meet your needs and expectations, evaluate them, and then make the decision that suits your business best.

Do not spend more than what you have

Sticking to the spending plan or the monthly budget is essential to not depend on third parties or credit or financial institutions. If you do not spend more than you enter, you can establish a savings plan that allows you to make loans to yourself with a 0% real interest, since the rest of the loan methods will carry some type of interest that will increase the cost of the purchase. Sometimes it is preferable to be financially sensible, not to buy something that is a whim or that is not budgeted, and to save instead of getting into debt.

*This is a collaborative post.