How to get better control of your income

Being able to manage your income in the most efficient way is a key step in ensuring your financial stability. By being properly organized, you can have better control over your finances, reduce stress and focus on your personal goals. Let’s see some useful tips that will help you and give you a management solution.

Create a budget and review it to reduce expenses

The first step to controlling your income is to create a clear budget, with which you can track both your income and expenses and know exactly where your money is going. You just have to record all your expensessuch as rent, bills, expenses for food and entertainment, etc. and then assess which ones can be reduced or eliminated. Please reconsider subscriptions and services you use, such as streaming platforms, gym memberships or mobile phone services, and assess whether they are all necessary or if you can find cheaper alternatives. Also, consider switching energy or insurance providers to save money without sacrificing service quality. With small changes in your habitssuch as saving energy at home or preferring to shop on offers, you can significantly reduce your expenses over time.

Focus on saving

Saving is an important tool for your financial security. A good idea, then, is to set a percentage of your income which will go into savings each month and make it a habit to automatically transfer that amount to a savings account. If you think it’s possible, create separate accounts for different goals, such as a trip, education or your emergency fund. Even small amounts, when saved consistently, can in the long run be a good “cushion” that will provide you with greater financial security.

Look for opportunities to increase income

In addition to proper management, boosting your income is another way to gain greater financial freedom. Think of ways to use your skillssuch as taking on freelance work, offering courses in areas you have expertise in, or creating an online store for products you make. With small, but systematic efforts, you can get sources of additional incomewhich will give you the opportunity to achieve more financial goals.

Consider the choice of investments

Investments can be an important tool for increasing your income. Even if they seem complicated to you, they are now affordable options to start with small amounts, always having by your side a financial advisor who can direct you according to your needs. A strategic investment can provide significant benefits and be an additional pillar of financial security.

Take advantage of the new salary transfer service

There are smart choices that can help you manage your income in the best possible way. If you receive your salary at another bank, with the Salary Link service you can transfer free of charge the amount of your salary from €750 up to €3,000 in your Eurobank account every month and gain access to an important package of benefits and discounts. OR service is activated online through your e-Banking or the Eurobank Mobile App and the transfer of the amount of your chosen salary is done automatically every month. Necessary conditions are that you have activated the Account Aggregation open banking service for connecting accounts between banks and that the amount you will transfer comes from your account at Alpha Bank, National Bank or Piraeus Bank.

With the first successful transfer of your salary amount to Eurobank, you automatically get important benefits, like those who receive their salary in Eurobank.

• Free subscription for one year and reduced interest rate for new Mastercard Classic and Visa Classic and Mastercard Gold and Visa Gold credit cards
• Prime rate in the Daily Plus account
• Reward in euros €return for your purchases with cards that participate in the €back rewards program
• Preferential pricing for a mortgage
• Free Eurobank My Blue Advantage package and discounts on the other packages of the Eurobank My Advantage Banking program
• Preferential pricing and reduced costs for a personal loan
• Important benefits for your health and wealth through insurance and investment products.

Invest more in yourself and his knowledge

Financial management is not just limited to numbers, it is also about your personal development. So you need to be updated on developments in finance, which you can achieve by attending seminars and using modern tools that can help you improve your knowledge. At the same time, it is important to review regularly your budget so you can adapt it to your changing needs and priorities. Continuously striving for improvement can help you maintain control of your income and achieve your goals.