2023-07-08 06:39:32
Before the loss of purchasing power Due to high inflation and the rise in the dollar, Argentines think twice before making a decision. purchase. And it is that beyond evaluating whether it is really necessary to make the expense, it is essential to know how to choose the most convenient payment method for make the most of money.
From clothing, supermarket items to household appliances, although the decision will be adjusted to the individual situation of each one, it is necessary to know that, depending on how you pay (cash, installments or loan), it will be avoided harm the pocket a little less.
“Today we found a wide range of entities and products that cover different needs. The economic and financial decisions that are taken have to be much more thoughtful and require greater knowledge and management of information,” said Joaquín Sepulveda Lemus, founder of the startup Simplestate, a real estate investment platform.
And he stated that “this obliges everyone to educate yourself financiallyto be able to manage personal resources and finances in the best way”.
Faced with the loss of purchasing power due to high inflation, Argentines think twice before making a purchase. Photo: File.
Payment methods: cash, credit card or personal loans
In order to make informed and conscious decisions, it is first necessary to know in detail what it consists of and What does each of the means of payment imply?:
. Payments with cash or debit card
In both cases you are paying with money you already have in your wallet or in your bank account.
Paying with a debit card provides the convenience of not having to withdraw cash from the ATM and move it from one place to another, thus avoiding the risk of loss or theft and the possibility of receiving a counterfeit bill.
. Credit card payments
It is a payment instrument that is managed by a financial institution or a credit card issuing company. One of its characteristics is that it offers the possibility of paying in installments.
It allows you to make purchases in businesses and online stores that are affiliated with the card’s payment network. It can also be used to withdraw cash at ATMs.
Unlike the debit card, the funds to be used when making a purchase must not be previously deposited. This amount can be totally or partially canceled and the outstanding debt accumulates interest.
Buying with a credit card offers the possibility of paying in installments. Photo: Shutterstock
. Personal loans
Is a Amount of money that one entity or person delivers to another in exchange for a certain pricewhich is commonly established through the payment of the initial capital plus interest (that is, the initial amount lent plus what they charge you for lending), distributed over a determined period of time.
The person or entity that lends the money is called the lender and the one that receives the loan is called the borrower. The amount of the loan is called principal (or principal), which will be returned in one or several payments (periodic payments).
The repayment of the loan (amortization) is normally made by paying regular installments (monthly, quarterly or semi-annual) over an agreed term. Each installment usually includes part of the initial capital lent and the agreed interest.
Knowing how to pay for clothes, the supermarket and household appliances helps to reduce the impact on your pocket. Photo: File.
How should you pay to buy clothes, a supermarket and household appliances?
. Shopping at the supermarket
Faced with this constant rise in food prices in recent months, pay for regular and basic purchases at the supermarket cash is more advantageousespecially when it is used to stock non-perishable products that will surely increase the following month.
Although it is common that most prefer to pay as late as possible through credit card financing, this option is not always the most convenient when there is an interest cost involved. Therefore choosing to get rid of a part of the cash at once will be, in this case, much more wise.
In this sense, the specialist in consumption and director of the consulting firm Focus Market, Damian Di Paceexplained to Clarion that “anticipating the future evolution of the prices of basic products, which are already known to be used in the following months, will mean savings of between 10% and 30%”.
. clothing purchase
In the last time the clothing industry was located Among the items that suffered the most increases. Before buying, you must first really analyze what you need and from there look for the best deals or discounts.
Currently some businesses and shopping malls, but not all, have agreements with banks or credit cards on special days of the week, and offer financing in 3 without interest.
This would be the most convenient option, as long as you are on the plan Now 12 and it is not a financing of the trade, since the cash is kept while the purchase will be canceled just in three months without extra costs and having beaten a future price increase.
However, before buying with Ahora 12 and choosing the number of installments, it is important to bear in mind that the longer the term, the rate has a greater impact on the total debt, this is because interest will be charged for a longer time.
In addition, in the first installments more interest is paid and less capital is amortized and while the rate is higher, the amount that is amortized at the beginning is less. In this sense, financing is more convenient in a few months but as the deadlines are stretched, it is not so convenient.
In the meantime, whoever has some extra liquid moneyyou can take advantage of the promotions offered between a 15% and 20% discount for purchases with physical tickets or choose to shop at areas where clothing is significantly cheaper. In this sense, the famous Avellaneda avenuemay be an alternative to consider.
It is one of the most popular clothing poles in the Buenos Aires Metropolitan Area, which is currently becoming increasingly attractive among middle-class Argentines, especially the youngest, who seek to continue dressing in fashion, without sacrificing good quality and at affordable prices saving up to 50% in your purchases.
When buying with Ahora 12, it must be taken into account that the longer the term that is chosen, the more impact it will have on the total debt. Photo: Telam
. Purchase of household appliances
If you are considering purchasing one or more household appliances, Di Pace pointed out that “although many chains offer their own non-bank financing credits, they are not convenient because they have a very high total financial cost. In that case the Plan Now 12 is more advantageous it can pay in up to 24 installments.
In this case, it applies to white line products such as water heaters, refrigerators, freezers, freezers, air conditioners, air conditioners or ventilation, dishwashers, washing machines and dryers, kitchens, ovens, stoves, heaters, stoves and hot water tanks.
Although this alternative has interests, which increase with the number of installments, they are below the extra costs that would be paid with a financing plan outside of said program.
Currently, as detailed by Di Pace, future inflation is calculated between 130 and 140%, “the Total Financial Cost for payment by credit card through the program Now 12 is 140%“.
However, he warned that you have to take into account that they are offering you Now 12 and not the personal loan that although it says “without interest”it actually does, and it carries a high total cost.
. Purchase of air tickets
In the case of tickets, for travel within the country there are plans of odds with Now 12, but only for some destinations. Meanwhile, he considered that the option of financing outside the plan, both for transfers both within and outside the country, is much more expensive.
In this sense, the consumer specialist recommended prioritizing the destination over financing to avoid getting too much debt.
At the end, he commented that in the case of opting for a personal loan today, “if you can validate it and you have a registered salary, the total financial cost floor is 230%. On the other hand, if you do not have a registered salary, for example in the case of a monotributista, or someone who has a lower level of income and is not constant, that personal credit can go up to 330% of the total financial cost.
Consequently, as Di Pace pointed out, “today the cost to finance yourself with a credit card is lower than a personal loan. Therefore, currently, in these cases, the best thing to do is to finance consumption with a card.”
LN
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