What are the best tips to boost financial well-being

The World Health Organization (WHO) defines health as a A state of complete physical, mental and social well-being. Today, the concept is also associated with luxury TotalWhich refers to man in all aspects of his environment. In other words, it consists in taking care of the individual as a whole and satisfying his needs. Physical, mental, spiritual, financial and social.

Realizing the importance of holistic health and its prevention, Zurich launches “LiveWell” programan application at no additional cost that aims to provide an additional advantage to life insurance customers aboutAccompany them in making decisions related to a positive and healthy lifestyle

(credit: Zurich Argentina Press) In addition, the insurance company has invited a group of professionals from various fields so that they can give various recommendations and advice about physical, mental, financial and social well-being. In this sense,Claudio Zochovichki Financial Analyst and Director of Finance at UADE,

Details of the main keys to enhancing financial well-being.

How to improve financial health Concern about personal finances can be a stressor. Debt, uncontrolled or unexpected expenses, and a reduced ability to save can affect financial well-being, as describedzochowiecki

. “And like any stressful situation, it can cause anxiety, distress, and even insomnia,” says the specialist. Many people may feel like they don’t know anything about finances, and moving in an unknown scenario can create uncertainty, especially when it comes to planning for the future and economic security. Manage revenue and expenses well,Good financial planning can be a challenging task

but it is not impossible to achieve.

(credit: Zurich Argentina Press) Analyst’s first tip isConsider saving as a mandatory fixed expense . “There are a lot of people who say: ‘Now I can’t save, because I have a lot of expenses. When my financial situation improves, I will. They are convinced that one day they will be saved. But they never do that. “This strategy doesn’t work,” Zucowicki explains. To change this situation, it is importantTransform the hypothesis of “spending what is left after spending” into the hypothesis of “spending what is left after saving”

.

To achieve this, there are two basic strategies: 1) Get used to Allocate a percentage of the income at the beginning of the month – for example: 10% –to save

, before spending it on other concepts. This savings can be thought of as a “future fee,” a mandatory fixed expense within the budget, just as running a cable, telephone, or gym fee. 2) For saving to become a habit, it is important toFunds are automatically deducted every month

. “It’s a good measure so that willpower doesn’t come into play, or self-deception: If I don’t do it this month, it will be double that number next month.” By deducting the “future fees”, you will save your money every month, “assures the specialist.

Recommendations for yield savings One of the main questions isWhat do you do with the money saved?

. Although saving and investment are closely related, they are two completely different concepts. If you have a certain amount of money and you decide to save, instead of investing, you are not making money, because you are giving away an extra amount that the investment would have earned.“In the long run, attention is more important than the main.

(credit: Zurich Argentina Press) He points out: “You have to keep in mind that the risk is not in what you are buying (currency, stocks, bonds, mutual funds, etc.), but inHow much did he buy? . This is why diversification is so importantInvesting in more than one financial instrument

With the intention of getting the returns provided by each one.

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How to get a diversified portfolio One option when investing is aInvestment fund, mutual fund or life insurance with savings and capital . The first is the toolscollective investment

, which consists of collecting money from different people to invest it in different financial instruments. Its responsibility is delegated to a management company that can be a bank, an insurance company or an investment services company. On the other hand, life insurances in capital letters are tools rescue

long-term. When contracting insurance, in accordance with the individual objective, contributions (premiums), the term and forecast of the objective capital are determined. This can vary according to needs.

Here are five advantages of mutual funds (FCI): 1) Access to a very wide portfolio of securities

Which, in many cases, would not be available if invested individually. Large amounts of money are not required to be a part of it. two)They are very diverse

Allowing the distribution of risks between different financial products (stocks, bonds, indices, etc.) for companies and economic sectors. 3)They have fluidity :

The investment can be redeemed at any time, with funds available in a short period of time. 4)Managed by experts in this field

who take investment decisions in search of the best profitability alternatives according to the type of FCI. 5)There are different financing options. , according to the profile of each investor. The More aggressive money Investing in toolsstock : stocks of leading companies, CEDEAR (a tool that allows you to invest in peso in foreign companies), indices and assets with variable income. Meanwhile, the more conservative

It can consist of public or private debt securities, demand deposits and fixed terms and/or derivatives.

“Even in long-term investments, it is important to be flexible. Do not fall in love with the instrument. Periodically sit down to analyze the portfolio, just as you spend an hour with a customer, an hour with a supplier. Read the news. What has changed in this time? Am I safe with my assets? Will I buy them again? Zochowski explains that if the answer is “no,” it is time for a change.”

He concludes, “It is important to know how to lose, and to know when to say no. Don’t fall into stubbornness and hold onto an asset that doesn’t rise anymore.” Zuchovicki’s various recommendations are available on the official account ofZurich on Instagram . What is more,Daniel Tanguna And theDaphne Schilling And the Mona Gallo And the Cynthia Martinez Wagner

Advise on physical, mental and social health.