How can you manage your personal finances ?

How can you manage your personal finances? Here’s how to increase your income through good financial management.

Helping your projects succeed and achieving personal goals depends on good financial management. Managing your expenses can be more difficult than it seems, but there are several ways to save money and increase your income. The tips in this video will be a great help.

Financial discipline: how to manage your expenses ?

It’s undeniable that money is an important part of life. Knowing how to manage your expenses is therefore essential to carrying out your projects and securing your future. Financial education may not be part of the school curriculum, but it's never too late to learn!

Identify fixed costs

Monthly fixed expenses can be used as an indicator to determine your ability to save and optimize performance. Expenses are an important part of your total budget. Identifying them is the first step to living well and saving money

Make a list of your essentials (rent, taxes, school fees, etc.) so that you know how much is left over for your personal projects. Also consider determining current expenses such as food and transportation costs.

Avoid unnecessary expenses

In today's society, there is an unceasing urge to consume. People often tend to buy products and services that they do not necessarily need. Reducing or even eliminating unnecessary expenses is a good way to save money. 

The best thing to do is to learn to differentiate between wants and needs. This way you will be able to determine what is unnecessary and what is essential. 

A simpler life will allow you to save and have more money at the end of the month.

Set up a budget

Setting up a budget helps you organize and foresee expenses over a given period of time, spend intelligently and without excess. Group your expenses according to different categories such as leisure, clothing, food, etc. For each one, you will have to determine an amount not to exceed according to your bank account. Using an Excel spreadsheet and creating envelopes for each category helps you simplify and monitor your budget.

Create an emergency fund

Setting up an emergency fund is essential to managing your personal finances. An emergency fund is a “security budget” that helps you face life’s little surprises, such as loss of employment or health problems. We strongly recommend setting aside 3 to 6 months’ worth of expenses, which will enable you to face the unexpected with greater peace of mind.

What should you invest in and when ?

Investing your capital is an effective way to increase your income and grow your wealth. Note that it is possible to invest in several different areas:

The stock exchange

The stock market is often the first idea that comes to people's minds when seeking extra income. Investment is mainly based on the purchase and resale of shares. 

Currently, there are two ways to invest in the stock market : trading and long-term investment.

  • Trading is short-term investing to take advantage of the daily variations in shares. 
  • Long-term investment offers the possibility of benefiting from dividends and reducing the risk of loss. Most investments are profitable over a 10-year period.


A relatively new market, several cryptocurrencies are available on the market, the bulk of which is dominated by Bitcoin. The latter fell considerably during 2020, but is now recovering. 

This year, bitcoin has made up 50% of the transactions in the trading field. Its value is estimated to be around 30,753.76 euros. Other cryptocurrencies such as Ethereum, DOGE and Ripple also offer interesting investment opportunities. 

There are plenty of cryptocurrency platforms. Among the best are Coinbase and Binance. However, it should be remembered that the cryptocurrency market is volatile. Cryptos are suited to investors who are used to risks.


Forex is a financial market focused on currencies. Like crypto, Forex is particularly volatile. It is especially recommended for short-term trading. 

The EUR/USD is the most popular currency pair in France. The principle of Forex trading is similar to that of the stock market. You have to sell at a higher price than the purchase price to make a profit.

Our advice 

No matter what type of investment you are considering, it is important to make it at the right time. It is essential to learn about the current economic and market situation, which will allow you to effectively determine the right time to invest and minimize your risks.

Apart from these types of investments, other options include real estate, oil or even gold. In any case, there is no “best investment”. It depends on your profile, your capital and your appetite for risk.