episode 3 finance

Jorge discusses the importance of managing finances. He advises dividing your salary into percentages based on needs. Rent in different cities affects the percentage allocation. Saving is crucial for emergencies or desired purchases. Comparing prices and avoiding unnecessary expenses are also recommended. Tracking expenses and prioritizing spending is essential to avoid financial loss. Overall, it is important to spend money wisely and invest in things that won't compromise your finances. Hi everyone, it is Jorge here in the room one more time, in today's podcast I will talk about a fundamental topic that is important to your existence, well, the theme is about finances specifically, I will talk about this theme from the perspective of the economy, how to spend money and a few tips for saving, well, let's start with your salary, the amount of money you earn is very important in order to support yourself as an independent adult, you will need to distribute your salary into different percentage depending on your needs, the study conducted by NHE revealed that in Mexico between 13 and 15% of Mexicans only salary is spent on rent or property, I will also be discussing their percentage level to consider, well, it depends on the city you live in as the price varies, for example, in comparison to a salary and rent in Mexico City, the cost is higher than in other cities that are more affordable, this is the reason why we discuss in percentage, we should consider that we have a certain amount of money that we need to divide into different percentage, for example, if you are not paying rent and you own a house, I will be relieved as you will have more income, there are different ways to manage your money, and I will mention some of them, let's say your salary is 2000%, you can divide into 18 and 20%, the 18% is for expense of your needs and things that you require for your existence, while the other 20% can be used for things like personal spending and savings, however, if you are paying rent, you will have to divide between the 13 or 15% and the remaining, 30% will be used for your other needs, such as food, transport, health, however, it is very important that as an adult, you save money because emergencies can always arise, you can save for something that you have always wanted to buy or things that you truly need in the house, but you cannot afford to pay for them all at once, you can also save for emergencies such as medical or personal use, this is money that we have to keep and not touch, so if you want something, do not touch it and keep it for emergencies, another tip that I can guide you to have a better life as an adult is to compare prices when you go grocery shopping or making your shopping list, visit several places and compare the best prices, sometimes, even sometimes might cost you a few cents at the end of the purchase, they can make a big difference and save you a lot of money, also make sure to only buy things that you actually need, as we often waste a lot of money on unnecessary purchases over time, another tip is to be careful with small expenses as it is easy to think it is just one peso, two pesos or even ten pesos and end up spending more money than you intended, by the end of the week, you might realize that you have spent a significant amount of money that could have been used for something else, another practical tip is that if you lie with your partner or sometimes spend time with, rather it is a disgrace, however, it is important to manage your expenses carefully and avoid your incoming departures to cover your weekly or monthly expenses, everyone has different expenses so it is crucial to identify your own and manage them efficiently, you can classify your expenses into categories, important and not important, this will help you prioritize your spending and distinguish between essential and non-essential expenses, in conclusion, it is essential to track your expenses prior to ten bases on importance and avoid unnecessary purchases, the problem is financial loss, spend money wisely and invest in things that won't compromise your finance, and well, that's all for now, see you next time, goodbye.