Check out 5 tips on financial organization to start 2023 with updated invoices

Many people take advantage of the beginning of the year to change their habits. This list usually includes: saving money or paying off a debt. In the first months of each new year, a series of financial commitments are imposed, such as the payment of IPVA, IPTU, school tuition, among others, which require planning to keep the bills in the blue and start the year with finances under control .

“Designing is the keyword. Many people feel pressured to get organized, it becomes a boring activity. But the truth is that there is no right way to do it: you have to know what your financial situation is right now,” says Caio Albericoni, financial planner and member of the Brazilian Institute of Corporate Governance (IBGC).

Ricardo Teixeira, coordinator of the MBA in Financial Management at FGV, points out that with the organization, consumers can take advantage of extra income at the end of the year, such as Christmas bonuses, holidays and bonuses, to recover finances at the beginning of the year.

THE Money info consulted with some personal finance and financial planning experts and compiled five tips that will help you start organizing your finances to keep your bills up to date in 2023. Check out:

1. Plan your money

Planning before spending is the golden rule, according to the experts we interviewed.

“When you think about planning, it’s not about stopping consuming, it’s about consuming consciously and without causing harm. This extra amount that will come must be strategically directed. What do you want to buy? What kind of expenses do you have to pay without fail? Do you have debts? These are some of the central questions in this planning process”, explains Isabella Brandão, CFP financial advisor and partner in Oikos’ wealth consultancy.

The recommendation is to write down the amounts received and all expected expenses. If the account doesn’t close, the solution is to shorten the list and cut expenses, always in a rational way, explains Caio Albericoni.


Another point of attention is the payment in installments of purchases, travel and other costs. Without control, payment methods can skyrocket. “For this reason, it is crucial to be realistic with your planning projections and wishes,” says Brandão.

The planning exercise can be simple. Here’s an example of how to organize your accounts:


2. If you have debts, pay them off or renegotiate them all

Ricardo Teixeira, of FGV, advises that financial planning should be done in order of priority.

“First, any debt you’re paying interest on, always listing from highest to lowest interest rate. Try renegotiating any accounts you pay interest on looking for better terms,” he suggests.

This orientation is shared by Brandão, who adds that if there is money, pay off the debt. “It is very difficult to invest in an investment that pays more interest than the interest on the debt. If you can pay the full amount and stop paying interest, that’s the best way out.” The recommendation makes even more sense at a time of high interest rates like the current one: the Selic, the economy’s basic interest rate, is 13.75% per annum.


“It is important to write down what debts you have and how much money you spend in installments with interest and, from there, organize on your terms,” comments Teixeira.

3. Route money to other accounts

The next step is to organize your January fixed expenses, such as IPVA, IPTU and school enrollment.

“If you have any money left over after you pay off your most pressing debts, it’s ideal to separate that money from your start-of-year expenses to secure payments. The best way to do this is when the money ends up in the account, so there’s no way to spend it on other things first,” says Teixeira, from FGV.

Caio Albericoni recalls that it is important to pay attention to the January accounts, depending on consumer income. For example: if the extra amount that the person will receive this month also includes holidays, “you can’t forget that in January you will receive an amount less than the full salary, because you received the amount proportional to the days worked”, he says.

“If you take a vacation and spend more than you owe on your credit card this month, you may not be able to pay your entire bill in January. And this is a trap since the interest on the card is very high,” adds Brandão.

The advice he shares that can be useful for 2023 is: try to pay everything in the same current year. “Try to leave December as Deadline purchases of the year, buying something in January or buying something in September. This helps to close 2023 debt-free for the following year,” he says.

Another tip is to only pay for purchases in installments if you have the money to pay for them today.

4. Build your emergency reserve

If, on the other hand, the consumer has no debts, he can start his planning at step 3, being able to set up or consolidate his emergency reserve.

“This is money that will serve as support in unforeseen financial circumstances. Accumulated wealth begins with saving money. To then enter the financial market, buy a property, among other steps. Only those who save can build wealth,” says Teixeira.

Experts advise having an amount between six months and a year’s salary in the emergency reserve to deal with contingencies with the entry of income. “The idea is to compose the reserve. It is not necessary to use everything for this purpose”, says Caio Albericoni. After all, there are those who already have their own financial reserve and can manage their income to allocate it, for example, to other investment categories.

THE Money info has already shown the best investments for 2023, but if you are about to compose your emergency reserve, you can let this content guide you on how to build your own.

5. Enjoy the extra feature

Considering the issue of prudence in planning, Brandão points out that, if the consumer does not have big debts, he can actually have ambitions and “dream big”, after all, “money is a tool and it is needed to be enjoyed. It’s not enough to save.”


The FGV professor also underlines that “if the person has no debts, he can direct the sums proportionally wherever he wants”. The idea is to provide a basis for the consumer to get an organization.

Alberoconi suggests that, during planning, consumers also set a ceiling on spending on leisure activities and gifts.

“Know what you want to spend on and set a maximum amount for it. Do you want to give someone a gift? How many people? How much will you spend? And try to stay within those parameters. It’s the same logic for travel,” she says.

“You have to have balance to enjoy it, with awareness, but enjoy it. And it is worth remembering that people have different motivations and everyone will be responsible for their financial life, the guidelines are just tips to manage money well,” concludes financial planner Isabela Brandão.

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