What’s your level of financial control?

What’s your level of financial control?

What’s your level of financial control?

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When it comes to  financial control we all have different preferences, consumption habits and concerns about the future, but it is easy to get caught up in the idea of ​​living in the moment without thinking about future consequences. In Mexico 53.8% of workers save little or nothing for their retirement, 42.2% of employees think a lot about their retirement, and in general 62.8% of the working population does not even have a retirement savings account. .

It’s never too late to change habits, but before you know where to go, ask yourself, what level of financial control do you have?

YOLO- Savings from 0% to 2%

If you are on this side of financial control it means that you live nonchalantly, at the limit of your financial possibilities and without worrying much about the future. People at this end of the spectrum of financial control tend to have a rather expensive lifestyle: they live in the most expensive house they can afford, they drive the newest cars and they have the newest gadgets and accessories.

People in this range also tend to treat possessions as disposable, and do not consider any consumption as a long-term investment.

Casual-Savings of 2% to 8%

If you are in this section of financial control it means that you think a bit about the future but you do not make too many sacrifices.You may have a little debt, but it is very insignificant and you pay it almost immediately. But even if you have a normal level of control, your lifestyle is quite expensive, and you have many unjustifiable expenses that you already consider normal.

You want to have a pleasant and carefree daily life but you also know, to some extent, that it is necessary to protect your future a bit.

Hardcore-Savings of 8% to 15%

If you are part of this group it means that your financial control is quite firm, you are looking to retire before the average retirement age, or have more money than you need to save for the future. You like security and stability and you know that the future is unpredictable, which is why you decide to live by spending less than you earn.

The people of this group don’t live in constant sacrifice and, although they have occasional expenses and luxuries, their daily life is quite frugal.

If you are part of this group, it does not bother you to live below your means, and the future is very important for you.

OCD- Savings of 25% to 40%

If you are part of this small group, for you, financial security is your main goal: you like to save in everything you can, make your own repairs, do not incur unnecessary expenses and prefer to stay at home than to travel. You have taken a lot of time planning and optimizing your expenses and an early retirement and financial independence are very important to you. You are ready for any type of emergency and your savings are abundant enough to handle almost any eventuality.

No matter what your lifestyle is, your finances can always be improved, and you can change your level of financial control as soon as you decide, all you need to do is take the first step. Glass is with you to help you take control of your finances, in a transparent and simple way. If you still do not know us, join Glass, and start taking control of your finances now.