In December, workers receive the bonus, a little extra money for everything they have worked during the year and since it is a season of gifts and festivities, it is normal for them to spend a little more.
So that the bonus pays off and you can buy both what you need and the occasional treat,it is important to think and plan well before going out to the stores,which is why here we share some recommendations issued by the Federal Consumer protection Agency (Profeco).
What does Profeco say about taking care of the bonus?
If you have already received your bonus or they are about to give it to you, it is important to draw up a plan to distribute it during December and the first month of the following year, to avoid reaching the so-called January slope with financial difficulties.
Through the Consumer MagazineProfeco shares the following tips to make all your money work for you.
You might be interested in: Where does the tradition of putting up a Christmas tree come from?
Savings, your Afore and your bonus
One way to make the bonus pay off in the long term is to allocate a part of it to savings or investments. You can start with a small amount that you can sustain over time so that it grows.
Adding an amount of your bonus to your Afore is also a way to invest in your future, so if possible, Profeco recommends that you allocate an amount for this purpose.
Calculate and plan your expenses
One of the keys is not to buy just for the pleasure of acquiring something new, even though the temptation is great, sitting down to make a calculation of what you need and want to buy will give you a clearer idea of how much and when to buy to avoid the waste.
Although it is valid that your bonus also serves to give you some treats that you may have been waiting for all year, try to prioritize the needs, things that you really need, for example, medical consultations to take care of your health, urgent repairs at home, etc.
Prioritize what is critically important over what is urgent. Get out of debt!
We know that this season we have manny temptations to spend money around us, advertisements, offers and discounts flood stores, social networks and the media; However, if in your case you are carrying debts, designate part of your bonus to pay them off.
Starting a new year with debts paid off will give you the peace of mind to start again with healthier financial activity.
Prepare your grocery list and stick to it
Has it happened to you that you go to the supermarket and shopping mall with a single purchasing objective and end up spending more than expected? We have all done it at some point, confident that the bonus supports us.
If this year you want to shop responsibly, work on your willpower by making a shopping list (only with what is necessary) and stick to it without giving up, this expense control will help you better manage your bonus.
Use your credit cards responsibly
We know that credit cards can get us out of a lot of trouble, but they are also a double
Even if you already have your bonus in hand or are about to receive it, remember that the credit card is not an extension of this benefit, do not use it to make excessive purchases thinking that your bonus will later be used to pay.
You can reserve its use only for emergencies or necessary and calculated purchases that are within your spending plan or offer you a good payment plan.
Compare prices and choose the best options
Although the impulse to buy the first attractive thing that is shown to us can be strong and comparing prices can seem tedious, this practice is important when purchasing, especially products of high monetary value.
Comparing prices in diffrent establishments will help you intelligently choose the best purchase option based on price, quality, payment methods, guarantee, customer service and promotions so that you can be sure that you took care of your money.
Set aside a part of your bonus for start-of-the-year expenses.
Sometimes the hardest part of the end of the year is starting a new one economically speaking, spending excessively can complicate things when facing the dreaded “January cost”, where many of the essential products rise in price and consumers find themselves in debt and with almost empty wallets.
So that this does not happen to you, you can designate a part of your bonus to face this stage of the year without so many complications and resume the normal rhythm of expenses during the first months of the year.
so prepare well and plan your expenses so that your bonus is enough for you to have a happy holiday and does not become a problem for the following year.
What are some smart ways to allocate a holiday bonus to ensure financial stability?
interview Between Time.news Editor and Financial Expert on Responsible Bonus Spending
Editor: Welcome to Time.news! Today, we have the pleasure of speaking with financial expert Dr. Laura Sánchez, who will share valuable insights on how to make the most of your holiday bonus while avoiding common pitfalls.Welcome, Dr. Sánchez!
Dr. Sánchez: Thank you for having me! I’m excited to discuss how individuals can maximize their bonuses effectively during this festive season.
Editor: Fantastic! As we approach December, many workers are gearing up to receive their bonuses. Can you explain the importance of planning for these extra funds?
Dr. Sánchez: Absolutely. Bonuses can be a significant financial boost, especially during a season filled with gifts and celebrations. Planning your spending is crucial to ensure that these funds last beyond the holiday season and don’t inadvertently lead to financial stress in January.
Editor: That’s an excellent point. The Federal Consumer Protection Agency, Profeco, offers some strategies for managing this bonus. What are the key recommendations you think our readers should keep in mind?
Dr. Sánchez: Profeco emphasizes a few crucial strategies. Frist,creating a budget is essential. Sit down and calculate what you need versus what you want. This will help you avoid impulse buying—something we’re all susceptible to during the holidays.
Editor: Impulse buying can definitely throw us off balance. You mentioned prioritizing needs over wants.what specific needs should people focus on during this time?
Dr. Sánchez: It’s critically important to ensure that basic needs like medical expenses or urgent home repairs are addressed first. These are critical to your well-being and shouldn’t be overlooked for more frivolous purchases.
Editor: Great advice! profeco also suggests considering savings and investments. How can that apply to a holiday bonus?
Dr. Sánchez: Allocating a portion of your bonus towards savings or investments, such as your Afore, can have a long-term impact on your financial stability. Starting with even a small amount can help you build a habit of saving and secure your financial future.
Editor: That’s a valuable outlook! Now, let’s talk about debt. Many people might be tempted to splurge, but Profeco advises using some of the bonus to pay down debts. Why is this particularly important?
Dr. Sánchez: Paying off debts can provide a mental and financial relief that allows you to start the new year fresh. It’s about creating a solid foundation. If you go into the new year with a clean slate, you’ll have more freedom to focus on future financial goals rather than being weighed down by past obligations.
Editor: So true! One last tip Profeco stresses is the importance of a grocery list while shopping. Why do you think that’s so essential, especially now?
Dr. Sánchez: Sticking to a grocery list can prevent overspending. It’s easy to get caught up in the excitement and buy more than necessary. By planning your meals and sticking to a list, you not only save money but also avoid needless food waste.
Editor: great insights, Dr. Sánchez! As we wrap up, what final thoughts would you like to share about making the most of our bonuses this season?
Dr.Sánchez: Remember that the holiday season is about balance. Enjoying the festivities is important, but being mindful about how you spend your bonus can set you up for a healthier financial future.Plan wisely, prioritize your needs, and you’ll thank yourself in January!
Editor: Thank you so much, Dr. Sánchez! Your expertise is much appreciated, and I’m sure our readers will find your insights incredibly helpful this holiday season.
Dr. Sánchez: Thank you for having me, and happy holidays to everyone!
Editor: And to our readers, may your bonuses bring you joy this season—wisely spent!