Eight out of ten Brazilians are in debt, according to a survey by Instituto Locomotiva and MFM Tecnologia. According to business administrator Tiago Tozzi Nunes , author of the book “Financial education and reflections on true wealth”, lack of financial control, often linked to emotional instability and limiting beliefs, is one of the main factors behind this scenario. To reverse this situation, Nunes suggests an approach that involves both conscious financial management and spiritual support.
You highlight the importance of internal control to avoid financial mismanagement. How do you suggest people develop this internal control and overcome limiting beliefs that can lead to impulsive spending?
Many people try in vain to fill their inner emptiness with things to sustain an image of “success.” Throughout their lives, they have been told lies, such as “you are useless and incapable.” The way out of this cycle is to go to Jesus, forgive, and discover your value and potential. Among so many benefits, self-control is vital to curb desires and spending.
What are the early signs that a person is starting to lose control of their finances, and how can they recognize these signs before it becomes a bigger problem?
The initial signs are dissatisfaction or inner emptiness, comparisons with other individuals and with the “perfect people” on social media, which can lead to late payment of bills and use of money without being aware of the future impacts of this decision… To prevent it from becoming a bigger problem, it is recommended that people write down their income and expenses monthly, in order to have an idea of what can be spent and what needs to be saved.
You mention the importance of prioritizing basic needs and planning financially. Can you give practical examples of how someone can reevaluate and adjust their budget to meet these needs?
It all starts with discipline and decision-making. As a general rule, fixed expenses, such as rent, water and electricity, should make up 30% of total income. The rest of the budget should be divided into four or five parts – considering the number of weeks in the month – and used for more variable expenses, such as food, transportation and leisure. It is always possible to look for more economical options for everything. It is also important to save at least part of the money for savings, investments and financial security.
What is your opinion on the impact of emotional and spiritual aspects on financial management? How do you think faith can influence the way someone deals with their personal finances?
Faith helps with personal finances because it fills the void within, as well as providing forgiveness and self-forgiveness . It also helps us find our own value and inner potential, as well as combating anxiety, which makes us suffer in advance and makes it difficult to be disciplined with our finances. Faith eliminates this fear caused by anxiety.
You suggest building up a financial reserve and planning for annual expenses. What are your recommendations for people who have difficulty maintaining a reserve or who are starting from scratch?
It is necessary to create the habit of saving. Studies show that a habit can be created in 21 days, if put into practice. The important thing is to start with what you have: set aside a reserve amount as if it were a bill that needs to be paid every month. It is possible, anyone who wants to do it! With planning, we can adjust extra income and expenses that we have throughout the year.
In your book, you talk about true prosperity. How do you define true prosperity and how does it differ from material wealth?
Material wealth is only one part of the whole called prosperity. Also part of it are the inner peace and joy found in Jesus, in health, and in a united and well-adjusted family. Prosperity is also found when there is provision for your needs, for the fulfillment of your dreams, and for the greater goals of generosity.
Regarding the guidelines in the release, which do you consider the most challenging for most people, and how would you advise overcoming that challenge?
The biggest challenge is to overcome our emotions and desires. Our desires are very strong within us: when we let them get the better of us, we can destroy ourselves with uncontrolled spending and its terrible consequences. We can also seek joy, identity and self-control in Jesus and in faith.
You also mention the importance of honesty and family unity in finances. How can these qualities help build a solid financial foundation and avoid future problems?
The greatest principles of prosperity are unity and honesty. Family and finances are interconnected, so financial discipline is vital for both. When you fail to pay a bill, someone is being cheated; and dishonest people attract problems, they never prosper!
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