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Dositeo Amoedo, from AEPF: “The key to success for a self-employed person is to separate family and business assets”

The digitization of the self-employed is an essential aspect in a world where the virtual has more and more weight. And, when we talk about finances, its management and control is basic so that the self-employed professional has the most healthy accounts possible.

From the AEPF have developed a financial tool to help the self-employed, with which they can follow a roadmap in their accounts. This will also help your family economy, so that it is not affected in case the professional suffers. To talk about this solution and other topics about the self-employed, we interviewed Dositeo Amoedo, president of the Association of Educators and Financial Planners.

MuyPymes: What are the challenges faced by a freelancer?

Dositheus Amoedo: In Spain there are more than three million self-employed, and right now we find the highest figure in recent years.

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Among those more than three million self-employed workers there are countless singularities that make the situation of each of them special. But if you can agree on something, it is that the key for a freelancer to be successful with his company is to effectively separate family and business assets.

To focus everything in a clearer way; Many times, the self-employed need to ask for loans so that their company can “start up”, and this is where the first ones are committed. mistakes.

Banks and lenders usually ask for a guarantee as a requirement to give the credit, and the self-employed are sometimes forced to have to put their house or other property (family assets) in order to get that credit.

Knowing how to differentiate between these two spaces should be something everyday and easy, but on many occasions it is very convoluted and without adequate training in quality financial education and the correct advice from the right people, it is very difficult to achieve.

MuyPymes: What strategy should you follow in order to achieve your goals?

Dositheus Amoedo: As we have mentioned before, the two areas must be separated. Regarding the strategy, we must prepare a plan for each one, taking into account the objectives we have (vital and business), the resources we have to achieve them and the results we hope to have.

All this has to be done with constant monitoring to be able to see the evolution of our plan and if we are executing it within what we expected. We must take into account many variables that can alter the course of our planning and have the flexibility to adapt to the new scenario.

MuyPymes: Is there any tool or help to rely on to do this?

Dositheus Amoedo: At AEPF we have recently developed a tool to help the self-employed, both in business and family terms, and we will be presenting it next Tuesday at our forum in Santiago de Compostela on quality Financial Education. I would also like to highlight that it has been developed according to the technical quality standards of the OECD, based on verifiable methods and results.

This digital tool has two slopes, one allows you to design a business plan and the other a family plan, in a simple way to be able to follow a roadmap. For its development, we have had the support of qualified financial educators and based on quality technical standards.

Between the advantage Of these functionalities, the following stand out:

  • business plan: the self-employed must enter the necessary information regarding the company (general data, mission, products or services, strategy, resources, objectives, etc.) and the tool, through a series of calculations, indicates how we must manage the money (how much we dedicate to retirement, marketing strategy, production, etc.). For it to be useful, you have to do a monthly follow-up of the results and see if they go according to the plan that we had established. This should have a specific focus and contain as much information as possible. Apart from the speed and convenience of having everything in the same place, new technologies such as artificial intelligence and big data analysis are a great help to analyze the multiple data that we face.
  • Family plan: In this plane, the interface is very similar to the business part, but with different parameters. You also need to know our objectives, the resources (assets, liabilities, current and future) that we have available, as well as the results that we are obtaining.

It includes a functionality that compares the user’s situation with that of families or people in a similar situation with an INE database, so that they can see in a clearer way the possibilities you have to be able to save or achieve your goals.

It is also related to the peculiarity of being autonomousor, calculating the contribution to contribute according to the level of life desired for retirement, retire, establish vital objectives, protect the economic sustainability of the family in the present with an emergency mattress, etc.

MuyPymes: Is it necessary to have knowledge of economics and financial education to be able to use this tool?

Dositheus Amoedo: It is very intuitive, although obviously you need some basic or initial knowledge to be able to use it. That is where the role of financial educators comes in to help those who want to get the most out of this instrument to be able to do so.

Our job is to guide people to achieve their life goals, have financial stability in the short term and their financial future secured. To do this, we carry out a particular study of each case and advise you on financial products, in addition to instilling financial habits that will also make your path towards the objectives to be met easier, being of great help on a day-to-day basis.

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