Favelado Investor shows the way to change habits and achieve life goals
Making investments is not just for those who have a lot of money. “With R$ 30 you can invest in Tesouro Direto, which is the safest investment in Brazil and yields more than savings. With R$ 10 you can now invest in the Stock Exchange”, explains Murilo Duarte, founder of Favelado Investor, live performed by iFood Decola.
For those who still can't make money left over at the end of the month, he explains the three steps to change your habit and start investing money. “Financial education and investment is for everyone. What is often missing is information reaching people”, he says. “The more we learn, execute and change our habits with money, the more we make better decisions with our money.”
Step 1: Take an X-ray of your accounts
First of all, write down on paper or in a spreadsheet how much you earn and how much you spend, writing down what you are spending on. Analyze your expenses and reflect on what you purchased.
Murilo's tip is to separate what we buy because we need it and what we buy because we want it. “When I went to college, I ate hot dogs and drank soda every day. It was R$ 7, but there will be a lot of money in that at the end of the month. I wasn’t hungry, it was more desire than need”, he explains.
This analysis, according to him, helps to identify what is superfluous and can be cut to save money at the end of the month. “When we have this clarity, we start to make better financial decisions, and in the end there will be money left over according to the planning you made”, says Murilo.
Step 2: Change small habits
Knowing where you can save, Murilo recommends going little by little. “There’s no point saying you want to save R$ 1,000 per month and cut everything out of your life. The main mistake is a lack of patience: some changes in our lives take a while to happen.”
For him, the secret is to change little by little, cutting small expenses, but constantly. “If you want to change your financial life, start small. Anyone who wants everything now may take a step too far and fall halfway, and then it may be more difficult to get up”, he says.
The attitude of changing a habit has a transformative effect, highlights Murilo. “If you change your spending habit, you acquire a new habit, which is saving. As you have more money, you get into the habit of investing every month.”
Step 3: Always have a goal
You will only be excited to save and invest if you have a goal in mind, such as taking a trip, buying a house or having a peaceful retirement, for example. “When difficulties arise, it is this objective that will give you strength, resilience. This is the goal that you move towards every day, so it is important to know what this goal will serve in your life.”
In this reflection, he recommends keeping in mind that money is a means of realizing our dreams, it is not the purpose of life. “Money is important in our lives, but it has to serve us, not the other way around”, he says.
Did you like the tips? To learn more about how to better manage money, visit course on financial organization that Murilo teaches at iFood Decola.
