The Impact of Election Promises on Your Finances

What are the candidates promising?

According to Valor Econômico, presidential candidates have been presenting their political platforms on electoral propaganda, addressing issues ranging from tax reform to taxing the super-rich. Flávio Bolsonaro (PL) wants to cut taxes and lower interest rates, while Lula (PT) promises tax exemptions on the basic food basket and a new work structure without salary reduction.

These proposals may seem distant from your financial reality, but they have a direct impact on your daily life. For instance, the promise of tax exemptions on the basic food basket could mean significant savings in your monthly budget, especially if you are a family relying on these items for food.

Why does this matter?

During election times, candidates' proposals can create expectations that influence consumer behavior and confidence in the economy. When talk of tax reductions arises, it could lead to an increase in people's purchasing power. If the basic food basket becomes cheaper, you might allocate those savings to other areas, like investments or an emergency fund.

Moreover, discussing interest rates is crucial. A lower interest rate could make credit more accessible, allowing you to make purchases or investments at lower rates. Conversely, raising rates might increase the cost of financing your home or car, directly affecting your financial planning.

What changes for salaried individuals managing bills?

If you earn a salary and need to manage your bills, it’s essential to pay attention to promises that may impact your income and expenses. For example, the proposed exemption from Income Tax for those earning up to R$ 5,000 could mean more money in your pocket. Imagine you earn R$ 4,500. With the exemption, you could use those resources to pay off debts, invest in a course, or even increase your emergency fund.

On the other hand, if tax-cutting promises are realized, you may notice a decrease in the amount of money deducted from your salary for taxes, which could also be good news for your budget.

Concrete actions you can take

Regardless of who wins the elections, there are some actions you can implement to improve your financial health:

• Review your budget: Analyze your monthly expenses and see where you can save.
• Build an emergency fund: Aim to save at least 3 to 6 months of your expenses in a separate account.
• Stay updated on the news: Keep an eye on economic policy changes that may affect your daily life.
• Plan your investments: Consider investing in products that could benefit from a growing economy.

Connecting with financial organization and ADXIS

In the end, candidates' promises are important, but what truly matters is how you prepare for the changes that may occur. Adopting the 50/30/20 method can be a good strategy for organizing your finances. Allocate 50% of your income for needs, 30% for wants, and 20% for savings and investments.

Using ADXIS, you can track your spending and adjust your planning as economic and fiscal policy changes. Remember: your financial health depends more on your choices than on the promises made by politicians.