“Saving does not depend on income, but on habits”

Is there any non-negotiable maxim when it comes to saving?

Spend less than what you earn. It may seem obvious, but it is the principle on which everything else is built. Saving often does not depend on income, but on habits. If you always live at the limit of your salary, no increase will help. Saving involves giving up present consumption in favor of future consumption. The maxim is simple: every euro not spent today provides more options tomorrow.

What is the biggest threat to our personal finances?

The ignorance. You can’t improve what you don’t measure. If you don’t know what you spend on, how much you save or what your true financial situation is, everything else is left to intuition. Many people make decisions without a clear view of their numbers, which is equivalent to driving blindfolded. Before investing or getting into debt, it is necessary to measure. Only with real data can you decide judiciously. In personal finances, information is not a luxury: it is the basis of peace of mind.

What percentage of monthly income should be allocated to savings?

As a starting point, 10% may be a good reference, but there is no universal rule. Each situation is different. The important thing is not the exact number, but the consistency. Saving little, but regularly, has more impact than setting out for large amounts and giving up after the third month. The objective is to generate the habit: automate saving so that it happens without depending on willpower.

Can you save by earning 1,000 euros a month?

Yes, although it is not easy or fair to generalize without context. With adjusted salaries, saving is not achieved only by cutting expenses, but by redefining priorities. Sometimes you can’t save money, but you can get time, training or opportunities that increase future income. Even with €1,000, setting aside a small automatic percentage, even if symbolic, has value: it doesn’t change your finances immediately, but it creates a habit that transforms your financial future.

If several debts have accumulated, what strategies are the most effective to reduce them?

The first thing is to be clear about all debts: list them, know interest rates, terms and installments, and make sure not to generate new ones. Once you have the complete vision, it is advisable to establish a plan to eliminate them. There are two main ways: pay the debts with the highest interest first, since this reduces the financial cost more, or start with the smaller debts to generate motivation by seeing quick results as they are eliminated. Not all debts must be canceled; If the interest rate is low, below 2–3% per year, it is not strictly necessary.

Why is it important to have an emergency fund? What is the best way to configure it?

Unforeseen events are part of life, and an emergency fund allows you to face them without resorting to debt or compromising financial objectives. Its objective is to cover between 3 and 12 months of fixed expenses and must be kept in a separate, liquid and safe account. It is not about obtaining profitability, but about buying time when unexpected expenses arise. Having this cushion provides peace of mind and freedom to make informed financial decisions, without pressure or urgency.

If someone wants to start investing their savings from scratch, what products would you recommend?

The product and the assets you invest in are just the final step. Before that, it is essential to put your finances in order, be clear about your risk profile, objectives and personal preferences. Only with that basis can a coherent and sustainable investment plan be defined over time. For most investors, the most sensible thing is global index funds, which allow you to automatically diversify among thousands of companies at low cost, reducing unnecessary risks. Furthermore, it is key to be clear about the time horizon: if the money will be needed in a few years, it is preferable to opt for remunerated accounts, deposits or monetary funds, which combine security and liquidity.

Is it key to diversify investments?

Yes, diversifying is essential. Nothing guarantees returns, and diversification allows you to have more options and greater stability in the face of the unexpected. It offers many advantages without additional costs and reduces unnecessary risks. A simple way to understand this is to imagine that you don’t put all your eggs in the same basket: if one basket breaks, you don’t lose all the eggs. In investment, this means spreading the money among different assets or markets. Although it does not eliminate risk, it protects against shocks and allows financial decisions to be made with greater security and calmness.

The ECB maintains interest rates at 2%. Is it interesting to continue with the money in deposits, interest-bearing accounts or public debt?

It depends on the objective. Whether the money is intended for short-term expenses or the emergency fund, these products offer security and an acceptable return in the face of current inflation. However, in the long term, keeping everything liquid means losing purchasing power, which is why they are not convenient as a long-term investment instrument. The key is not to choose between deposits, remunerated accounts or investments, but to allocate each euro according to the purpose it has.

You need to buy a car, but you don’t have the money. What factors should be considered before applying for a loan?

First, it is important to seriously ask yourself if the car is really a necessity or just a desire, although to many it may seem indispensable at first glance. If it is a necessity, it is important to calculate the maximum payment that can be assumed, ideally no more than 15% of income, taking into account that it will compromise the capacity for future loans, for example, for housing. In addition, it is advisable to compare fixed rates, avoid financing from dealers without reviewing the fine print and not prolong the term more than necessary. In short: you should only request what is fair, in the short term, and only if the car contributes to improving your earning capacity or real well-being.