The budget, income and expense plan that will help you improve your finances


Planning the use of the money earned fortnightly or monthly allows individuals and families to identify unnecessary expenses that harm income, order and plan purchases, in addition to identifying the savings capacity they have.

Few people in Mexico plan their income over their expenses. They do not do it because they live from day to day, earn little or because they record everything in their minds.

There are several reasons that can be found for not doing it, but the effect it has on the finances of people and the home are important because through this action it is verified and it is discovered how well the money is used.

According to the National Survey of Financial Inclusion 2021, 22.5% of people in the country keep a budget or record of their income or expenses. Women have a higher percentage than men in planning or registering their income, with 22.9% compared to 22% of men.

A budget is the planning of the income that is received and the expenses that are made with that money. It is to establish within a physical or digital document what is earned and what will be spent.

It has various utilities, on the one hand, it serves as a diagnosis to review how the money received in the fortnight or month is going.

That is to say, it serves to identify how many ant expenses you have, which are those “small”, “cheap” purchases that are made and that would seem to have no economic impact, but they do and can be from sweets, soft drinks, cigarettes, junk food, etc. catalog shopping, among others. By identifying how much you spend on these issues, you will be able to reduce them and better optimize the money.

On the other hand, it is used to plan the expenses that are made during the fifteen days after the payment, or week, month.

For example, within the budget it is important to write down all the perceptions that we obtain, from fixed to variable income. That is, the fixed salary and if from time to time activities that generate money are carried out.

After this, the fixed expenses that make up the fortnight are written. The biweekly or monthly salary is entered and in parallel the fixed expenses that are made in that period are noted, which are the most important and that have to be done yes or yes, such as electricity, water, telephone, internet, streaming services, pantry , transport, rent.

Subsequently, variable expenses are written, which can be entertainment, lifestyle, meals on weekends, movies.

In the end all this amount will be added and it will give you the total expenses over your income, you will be able to see that perhaps you allocate a lot of money to certain things that perhaps are not so important or that are ant expenses and then you will be able to make an adjustment in how you distribute the money you earn Define what products or services you can buy in one fortnight and what in another.

Another purpose of the budget is that it helps you identify your savings capacity. If the result of the subtraction of income and expenses is positive, that is, you have money left over per month, you can create a savings goal to put an end to that money.

Savings, other item

If the subtraction is negative, it means that you will have to make changes in how you spend to include the savings item in the budget.

It is recommended that you do not leave it at the end, that you do not save the money that you have left over, on the contrary that you include it as another expense concept in the monthly planning, in this way you will have it budgeted and you will not use that money for another purpose.

The budget can be made on any blank sheet, in excel or there are also free platforms that help you do it.

On the Condusef page there is a section called Personal and Family Budget Planner that anyone can access and carry out their monthly or annual planning, at the end it shows if you have the capacity to save with what you spend and, later, it links you to the simulator of savings products where you can review which option suits you best to “save” your money.

If you are not convinced by the Condusef web platform, you can download it to your cell phone and from there start managing your finances. In addition to the Commission there are other mobile applications that you can use for this purpose, for example, Expense, income and budget manager; Control expenses, Quick Budget.

Before downloading any app, it is recommended to read the reviews and see how functional it is, if it has flaws or inconveniences in its use.

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