What do I do with my first paycheck? How do I plan my expenses? What is a mortgage? These questions and more are the ones answered by María Dolores Balaguer Pérez, 360° consultant specialized in economic and operational cost analysis of businesses and companies, during a financial education training she provided for children of the C19 Youth Center in Ibiza during the months of October, November and December. The initiative, which was supported by the Ibiza Town Hall and the Youth Department, focused on offering essential tools and concepts to learn how to manage money, control expenses and plan, for example, a trip.
“If you learn to manage a thousand euros, you learn to manage a million.” With this simple but effective premise, Balaguer summarizes the importance of incorporating essential habits, such as monitoring income and expenses, identifying priorities, making conscious decisions, setting clear goals and taking taxation into account. This foundation, which the consultant believes should be “universal and compulsory” in schools, is what will enable the management of both modest and larger sums. The idea for the training arose from her work as a consultant: “Seeing the need that both adults and companies have for the analysis of financial data and returns, I thought it would be interesting for these basic concepts to be taught first to children and young people. These are terms that are used daily by everyone, but are not covered by basic education,” he says in an interview with La Voz de Ibiza. “People can educate themselves if they take the responsibility to do so.
And if there is a gap, it is important to seek knowledge and tools on topics that are useful. That is why I directed this initiative towards the youth departments of all the city councils. The idea is that young people entering the world of work should have a minimum basis of financial education that will be useful for their future,” he explains.
Payroll, taxes, investments and other basic items
“Everyone, whether salaried or entrepreneurial, is involved with financial aspects on a day-to-day basis. During the training we addressed topics such as payroll, taxes, different types of investments, debt, mortgages, online shopping and how to differentiate between need and want. At the end, we landed these concepts in a personal financial plan -real or fictitious- to visualize in the medium term how we can reach a specific goal. I recommend and told the children that it is important to always ask professionals before making relevant decisions and avoid surprises,” Balaguer explains. The first thing to keep in mind, says the consultant, is the starting point: “We must know our reality, what our income and expenses are, and then plan how to reach our goal.” “A notebook, a pencil and a calculator are simple but effective tools, but there are also digital options such as Excel or other more complex ones to set budgets. This allows you to see how you will be financially in a year or to plan something concrete, such as a trip, a course or simply saving,” he adds.
Planning and analysis, two key elements
“When you start managing small amounts, such as a thousand euros, you learn a procedure that you can then apply to larger amounts. The important thing is to be clear about what you have, where you want to go and what you need to get there. With good planning and analysis, you can make better decisions to reach your financial goals. The more attention you pay, the more you know, and the more you know, the better you do”, he defines. After completing the training at C19, the Ibiza City Council has proposed him to do an intensive in April 2025 for young people who want to get started in the working world and become self-employed. “The biggest investment we can make is in ourselves and our knowledge. To be better professionals or entrepreneurs, knowledge is our best ally. We have to keep up to date with what exists and adapt the available resources to our objectives,” concludes Balaguer.
María Dolores Balaguer Pérez has a degree in Business Science (Granada) and a degree in Tourism (Ibiza), as well as a Bachelor in International Business Finance (Leeds, UK). She worked for more than 20 years in banking and is currently a 360° consultant specialized in economic and operational cost analysis of businesses and companies. Founder of Pasión por la Conexión.
