The 3 steps to correct the bad economic decisions of the past

Image result for bad decisionsThe other day I read in a book about personal finances a phrase that read more or less like this: “I never know how young you are to think about your financial future”. What a lovely and true phrase! We all trust that the future is far away and then, we never take precautions about it.


How many of us have friends who think about their retirement since they were young? Surely almost nobody, realistically, as a young person nobody thinks about that, because we think that at the age of 20 we have a determined life. The problem comes later, when you turn 30 or 40 and you begin to see that you have to deal with other things. You would like to return the time.


On the other hand, who has friends who spend their money and time squandering in their youth? Everybody! They will not let me lie, we all have those friends who during the first years of youth, where energy is never consumed and productivity is higher, they do not take advantage of it in good things. Most likely, many of us have also been like that.


And of course, this has nothing wrong, it is always good and necessary to have fun. The downside is when those incorrect decisions of the present will greatly affect our future, such as the time of retirement, for example.


By experiences very close to me I can say with ample assurance that people regret not having financial awareness during their youth. It is not even necessary to reach a higher age to do so, I know of cases in which at 35 or 40 years are already suffering the ravages of poor financial decisions.


Many say “If I had saved a little” or “If I had not spent so much on parties”, among many other complaints. And if you, who are reading this, you felt identified with the previous examples, do not worry, you can always find a good solution that will help us face the days of the past.


Let’s see 3 steps that will put your present finances in order:


1.- Analyze your current situation: To be able to put a solution to your current financial situation, it is necessary to first make an analysis of what is happening. Not only is it enough to say “I do not have money” or “I can not afford to buy the car of my dreams” because that does not tell you anything about the situation.

The important thing about doing this analysis is that you can have enough data to develop an action plan that will lead you to the best solution. Remember that it is not only about improving your present economy, but about doing it to have and enjoy a better future.


2 .- Define where you want to be in a specific time: Surely this is the easiest point to make because we all know or imagine where we want to be someday. The most important thing is to put specific things and times, for example, in a year I want to be traveling in Europe for a month.

You can set various goals, the important thing is that all are realistic and achievable according to the analysis you did in the previous point, but you should not abuse the number, it is best to make a small list and as you keep complying, update that listing .


3.- Create a budget: Once you have done the previous steps, you know where you are financially and also where you want to be, it is time to define the path you must start to follow to achieve all the goals you set.

For this, the most advisable thing is that you work on making a budget as specific as possible. Make columns where you keep track of your monthly income, your monthly expenses, the extra expenses that may appear, as well as your savings. It does not matter if you spent a single peso, you must register any movement that your money has, only then you will have total control of your money.


Remember that the mistakes of the past can not always be corrected, however, the economy and personal finances tend to take radical turns that benefit our pockets. The best thing is to save the beautiful and fun moments of the past and put together a good plan of action that allows us to resurface in the near future. 

Double capital in case of death by accident, double security for yours

Image result for accident

Unlike other insurance products in which we seek coverage of property in property such as car or home insurance, or simply our own welfare as in health insurance, in life insurance we essentially hire not to protect ourselves we or our assets, we do it thinking about the economic well-being of those we love most.

For this we cover the needs of our family by calculating a capital that, at least, always allows us to pay the debts that we can have -mainly the mortgage-, and also leaves an additional capital that allows the rest of the family to cover needs such as the studies of the children and mainly that of sufficient margin so that the family adapted the financial situation to the hard changes that supposes the loss of one of the heads of family.

Double economic security for an unexpected death

But in this calculation not only expenses converge, we also estimate, in a more or less unconscious way, our current or personal economic situation. If we are young, or if we have some assets that we can dispose of, they allow us, a priori, to have a greater margin over our finances and with this, to safeguard the needs of our family.

In the first case, the normal thing is to have a broad life expectancy that allows us to improve our financial situation. In the second case, if we have other assets, such as real estate, it allows us to dispose of them, but always needing some time to administer them or manage the sale of these goods correctly, something that many times we can do in case of illness but not if an accident happens.

Without any margin or time, an accident, always unexpected, can entail not only the strong impact of the loss of a loved one, but suddenly, economic problems arrive with little margin to seek other solutions. To solve these cases, Aegon Full Life insurance offers the payment of double capital in case of accident. With all this, we assure that before this serious unforeseen and always taking as a base a capital that must cover the basic needs, a greater economic margin that helps the ones we most want to cover all their needs, without hassles, without haste.


Image result for cdtiThe new General Regulation of exemption by categories 651/2014 of the European Commission determines the minimum information that must be contained in a request for public aid to consider that this has an incentive effect.

The content of the preliminary request required so far does not meet the minimum requirements of the new regulations, so in the last CDTI council it was agreed to eliminate this previous step for the granting of CDTI aids.

From now on, companies must submit only one complete application. For its part, the C for Industrial Technological Development will start the use of a form of advice on the application, which will be managed by the Directorate of Promotion and Cooperation. In addition, companies can receive expert advice on the degree of novelty of their idea and the fit in the financing lines . In this way it is intended to maintain the levels of advice and accompaniment to the company that are characteristic of the CDTI.

Preliminary applications submitted previously and recorded in the system will be pre-evaluated before January 1, 2015 for its subsequent passage to the full memory.

Get a 90-day microloan


 Get a 90-day microloan

Surely on more than one occasion you needed cash urgently, but you did not need a personal loan that you would have to repay in 24 months or even 36, since it was only going to serve you for an emergency, which you had to cover Immediate, so having a microloan that has a total repayment period of 90 days was the perfect solution.


Online microcredits

These are fast microcredits online, since the way to request it is quite simple and best of all fast, that is to say that the efficiency that you have to be able to request them is very high, therefore, to many clients the It has helped to get out of the penalties that they have at the moment, but also to invest in the short term, since the amounts that can be requested are not so high for endorsements or payrolls, so in general terms it is an excellent alternative for request mini credits and step out.

Currently there are a lot of entities that offer personal loans to their customers and new users, but the defect they have for this type of emergency that usually occurs in people, is that the return periods as I mentioned before are quite large, it is precisely for this reason that the requirements that are requested to people are quite complicated and for many are totally inaccessible, so they will always be rejected.

The good news has been coming for a couple of years where the vast majority of entities have started to offer microloans to users, but the best thing is that the conditions for requesting them have been adjusted to the needs of consumers.

The flexibility in the request

Among the main features that can be mentioned when requesting fast online mini-credits is the flexibility that is in the part of the requests and also in the extensions, since for example the strongest entities in Spain offer very interesting promotions, One of them is the first loan is free, that is, it will not have any interest, with the difference that you must return the exact amount that has been lent to the entity within 30 days, but if you have an Excellent planning could have an extension that can go up to 90 days, without costs that prove to be very strong for the clients.

It should be noted that among the most common microloans are those that have extensions ranging from 7, 14 and up to 30 days; while the amount that can be requested for new customers to the entity would be 300 euros, but if you already have a good tour of the bank the amount could increase to 900 euros, amounts that can certainly help everyone to solve emergencies that can be had at any time.

The steps to request a 90-day mini-credit

Surely you are wondering what are the steps to follow to request and get a loan today with no job of up to 90 days, the answer is quite simple, since the first thing you have to do is fill out the form that is on the web, once there you must enter your personal data for an agent to confirm and if everything goes well in a span of 24 hours you can have the money in your bank account, which you must pay within 30 days.

But you can make an extension of 30 more days if before your expiration date you have a subscription of 120 euros so that the extension is possible and request it. The best of all is that you will be able to make 2 extensions, in the second you will have another 30 extra days to be able to finish with the amount they lent you, and you will have to repeat the previous process, that is, pay 120 euros and request a new extension for the period of time mentioned above and ready.

If the bank goes bankrupt: what customers will recover their money first?

According to the agreement reached this week by the EU’s finance ministers, the shareholders and creditors of the affected banks will have to pay the bill in case of bankruptcy

Until a few months ago, the money invested in accounts and bank deposits was untouchable and its owners were the first to recover their money before a bankruptcy. But the latest orders from Brussels no longer ensured the same in the case of deposits of more than 100,000 euros. This week, the Econfin has met and made a final decision that affects the order of priority of banking entities, according to

In the early hours of last Thursday, the 27 ministers of Economy of the European Union have reached a political agreement on the rules that will distribute the losses to pay future bank rescues. This resolution could be summarized in that it will be the shareholders and creditors of the affected banks – and not the taxpayers, as has happened up to now – who will pay the bill in case of bankruptcy of the entities- Bankruptpcy-Solutions.

What happens with deposits of more than 100,000 euros?

That is the main point that was decided at the meeting. Minister De Guindos clarified that as of now “deposits of less than 100,000 euros have what we can call a super protection”, while “those with more than 100,000 also have special protection with respect to other types of bank liabilities”, as the main and subordinated debt, and the preferred ones.

In short, deposits of less than 100,000 euros are now more secure than those of more than 100,000, so the current priority order, that is, the list that indicates which customers have priority to recover their money in case of bankruptcy (with the wreck) remains as follows:

1. Accounts and deposits of less than 100,000 euros. Here there is no doubt. It is our money and it is the responsibility of the bank and the State (FGD) to keep it safe.

2. Deposits of more than 100,000 euros. The conclusion reached by the Ecofin is that “If the deposits are touched, it establishes the possibility that the rescue fund can inject the capital and there would never be losses for the deposits”.

3. Mortgage Certificates. Their holders have preference over the others because they are titles with the additional guarantee

4. Senior promissory notes and bonds. Senior debt at the same level (pari passu)

Legally, in case of bankruptcy, these 5 products – accounts, deposits, certificates, promissory notes, and senior bonds – have the same preference for collection. What distinguishes them is the guarantee. Thus, the deposits and accounts have double guarantees (from the bank and the FGD) and the mortgage bonds also have double guarantees (from the bank and the mortgages).

That said, it is difficult to say which is the number 1 between deposits and certificates, but you can place the deposits first considering your liquidity, that is, before you reach a bankruptcy, if a saver needs money, with a deposit what will recover much more easily and without suffering losses in capital.

Thus, once all the holders of senior debt had collected, they would collect the following in this order:

5. Subordinated bonds. Their name indicates that they are subordinated to the payment of the Seniors.

6. Preferred shares. Debt without return period.

7. Participatory quotas and actions. Here we no longer buy debt but shares, that is, it is an investment in capital. And investors in the capital are always the last to charge.

Finally, the Spanish minister stressed that the directive establishes “very high protection for all deposits”, sets a “common model” on how banks must deal with losses and guarantees “a protection of taxpayers’ money”.