After Christmas holidays and the end of the year will come January expensesalso known as “financial hangover”So that you don’t start off on the wrong foot and with debts, it is advisable avoid unnecessary expenses, be careful with credit cards and work in the culture saving.
Carlos Floresadvisor from financial education in National Commission for the Protection and Defense of Users of Financial Services (Condusef) in Morelos, it explains December is a period of high consumption and this means more cash flow s bonus that by law every employee must receive in accordance with Article 87 of the Federal Labor Law.
Consider it When receiving this benefit, people had to plan their expenseswhile it should be remembered that it represents efforts of the whole year and that should do the trick better life and well-being.
“The recommendation is to avoid waste, especially in seasonal purchases, creating false needs and desires; But when reality hits in January, we’ll realize that we didn’t ask for it, we didn’t need it or it was just an impulse.”
It’s because of that expert in financial education recommends that part of the bonus be used to pay off loan debt that they contracted during the year or any other expense that was not covered in time.
The ideal, he adds, is allocate 35%. bonus pay debts; an additional percentage to cover the fixed costs of the house (drinking water, telephone service, internet, etc.) or take advantage of the benefits offered by the companies for an annual paymentbecause many times it represents a saving 10% or the whole month.
Carlos Flores details that Impulsive purchases usually occur at this timeeither through inns or exchange offices, which generates irresponsibility when using bank cards or cash.
“(I call for moderation, to spend the necessary time (thinking) and avoid impulsive purchases, (we must) analyze desires against needs, so as not to reach January with things we do not need.”
He emphasizes that unfortunately and January expenses It lasts until March or May, and in some cases even half a year, for the expenses we incurred at the end of the year. And adds, These types of expenses generate a so-called “financial hangover” and in January you return to reality and look forward to the first half of the month.
If January expenses it’s getting harder and harderexplains, the recommendation is that you Christmas or exchange gifts you didn’t like or didn’t work out, put them on sale to recovereven, a little cash.
“Another piece of advice is to avoid credit card debt as the economic forecast for the country is unstable, meaning the equilibrium interbank rate, which is the benchmark base rate, remains high at 11.25%, meaning credit more expensive .”
Finally, Flores suggests having a financial culture, take savings like a backbone planning our budget, not just verifying income or expenses and having the ability to pay.
You can start save 10% of your income to your account saving (First) and follow up so that At the end of the year, you will make a profit and thus have an extra resource.