How to make money go further?
Winning the World Cup seemed like an impossible mission… but making the money grow is also an impossible mission?
Keeping money’s value intact seems to be a major challenge these days. Knowing how to make smart purchases, plan your tax and utility bills, invest money to generate profits, and learn how to manage your money are some of the questions most people have.
Julieta Tarrés—an economist specializing in economics— answers some of these important questions.
“Money is melting”
Julieta Tarrés explained why it is important to protect the value of money by investing in so-called “Mutual Investment Funds” in virtual wallets.
“Mutual funds are underwritten by entities that invest the entire amount and provide you with daily returns. This is completely safe (…) and what people need to know is that the return they will receive is guaranteed.”
He also said: “The interest that a wallet gives you, you don’t get it from cash, you don’t get it from the bank, and you don’t get it from having money under your mattress.”
“You can’t just stick with what you believe or what someone told you about money.”
Julieta Tarrés emphasizes the importance of consulting reliable sources when making financial decisions. How can you achieve this?
- Search the internet, always verifying the accuracy of the information and the source of the data: there are official and validated sources to consult, such as the Central Bank of the Argentine Republic or the websites of entities authorized to operate in the financial system (banks, virtual wallets, brokerage firms, etc.).
- Consult different sources and have a lot of information available before making a decision.
- Not taking into account the recommendations and advice of people who are not prepared or qualified to do so.
- Always base decisions on real data: price comparisons, reading statistics, etc.
The importance of smart shopping
“The way to save and invest is always to keep your expenses under control,” Julieta commented in the interview. Along the same lines, she offered some useful recommendations for making a purchase “smart”:
- “For every goal you set, you must have an associated plan.” That is, what you want to buy will be achieved as long as you plan step by step how to achieve it.
- Before buying something, you should know if that purchase or expense meets a previously stated goal. If you buy or spend “just because,” you should avoid that transaction, as it will take you further away from your goal.
- Organize your purchases beforehand: make a list so you don’t go over schedule.
- Compare prices in the same unit of measurement (for example, using the liter as the unit to compare two bottles of the same product instead of their unit price).
