Knowing your fixed expenses and, in turn, the tools at your fingertips to invest what you have left over are two key aspects when managing your finances and making your income yield.
The idea is that with your salary you can cover your cost of living and, at the same time, build a capital that serves as a "cushion" against any eventuality, for large purchases such as appliances for your home or your vacations.
Prioritize your obligations and do not spend more than you earn: write down the due dates of services, rents, expenses and other monthly expenses so that you do not miss anything. As for the credit card, use it only if you have the money available or if you know that you will receive it by the time you pay off. This will lead you to save to buy. It is also good to avoid the fee trap if it comes with interest because the rates are often high.
If you have something left over
Keeping your expenses under control will allow you to arrive more calmly at the end of the month and perhaps even with a positive balance in the account. In the event that you have more money, it is important that you evaluate what to do with it. One option to invest your income easily and, at the same time, have it available quickly is through a mutual fund. You can access them easily through home banking, previously opening a title account or client account, which is the one required to operate with shares, public titles, etc. By subscribing capital to a fund, you are buying a "piece" of a large investment portfolio and getting a stake in it. Although they are generally considered safe investments, it must be borne in mind that any financial instrument involves risk.
Among the wide variety of funds that exist, there are funds in pesos for immediate settlement (also called money market), from which you can withdraw your money at any time, without having to wait for maturities. One way to make the most of them would be to subscribe the money that you know you will not need in the next few days, considering that interest usually begins to generate automatically. Before doing so, remember to leave a margin in your account for daily use. Knowing the expiration dates of your expenses, the ideal would be that you withdraw from the fund in advance (one or two days before) the amount to be paid. In this way, you would keep a minimum amount in your savings account and, at the same time, you would earn an interest on the resources that you are not going to use yet.
If you do not dare to invest in mutual funds, fixed terms may be useful, but keep in mind that you will not be able to dispose of what you deposited until maturity, so you would have to have more liquidity to meet your expenses.
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@oswvin01 