Budget your responsibilities

One of the best ways to obtain an education about what's going on with the financial life of our family is setting a budget.
It may seem a boring activity. But it's not, it's an essential need. What is surprising is the number of families who do not use this instrument to understand the management of the family's financial life.

Budgets can be made in various ways: some more casual and more regular. There are even applications that you can use to guide you step-by-step in the collection of the necessary information to reach conclusions that are important to your family.

In practical terms, the first steps towards the definition of a budget are the registration and collection of family expenditure and project them for the month and the year. Then, based on the analysis of current expenditure, you can analyze how is your family's financial performance compared with the estimates made.

You can also compare both the incurred projections and expenditure, with the mustered household income in order to conclude if your family´s lifestyle that currently needs to be revised.

Will be a choice that the family must make on the basis of what we value most: a bigger apartment, a better car or more holiday travel per year?
It's up to each family to arrive at their own conclusions.

In any case, at BAI you can count with experts in financial services that will help your family in any of the scenarios you have chosen.
For example, based on account statements, and with access to our electronic banking channels, we guarantee you daily access to your costs and payments in order to assist you in gathering information that will allow you to prepare a comprehensive and enlightening family financial budget.

We have solutions for term deposits available to your savings, which guarantee your capital in our Bank and a reasonable remuneration, until you choose another end for your money.
To help you think about financial decisions, we have customer managers fully available and access to financial experts to help clarify your questions. They can also perform simulations of applications, financing or insurance policies to help you choose the most suitable option for your family.

In addition to our range of financial products and services, we leave you with some final ideas on how you can improve the financial performance of your family:

Save whenever you can:

  • Unexpected gifts that you receive, your bonus work or birthday presents;

Compare your monthly expenses:

  • Use your family budget to compare basic costs of essential activities, such as the cost of using and maintenance of your car; or the total cost of maintaining your home, with extra equipment such as generator and water pumps;
  • Shop between two to three supermarkets. Compare prices and choose the cheaper;
  • Eliminate spending for items that you rarely if ever use;
  • Choose deliberately where you can reduce the consumptions: cutting your hair at home, instead of Barber, probably won't harm you, and you gain new skills;
  • Increase the frequency of some expenditure to the detriment of others: a visit to the dentist is a good investment, but dining out at restaurants every week is an avoidable expense.

A balanced management of the family budget is essentially an exercise in common sense and choices.
Start by choosing BAI as your main Bank and we shall accomplish the rest together.

BAI, the Bank for every occasion.