The new year is about to begin and take into account that this implies expenses and obligations.
For this reason, the Banamex financial education area shares some advice and remembers some important dates that you should keep in mind.
- January is usually a complicated month, as many people spend more on the holidays and the famous slope tends to be prolonged. If you are in this situation, the financial group recommends that you develop a plan to heal your finances and identify expenses that are not essential and convert them into savings.
- If you were cautious and reserved part of your bonus, take advantage of the discounts on the payment of some services such as property taxes and water.
- In addition to paying for annual services, consider those that are fixed and covered periodically, such as landline or cell phone, electricity, internet, tuition and even streaming services. If you are currently paying a long-term debt, try to make payments in advance, this way you will end this commitment sooner.
- It includes family expenses and transportation expenses; since they are periodic disbursements, they can also be considered fixed expenses.
- Do you have a car? You must cover ownership, insurance, verification and maintenance services to guarantee its correct operation. Don’t forget to consider paying on time for these services throughout the year.
- The months of March and April are those that the SAT designates to make the annual declaration of individuals and legal entities. Do not forget this obligation and cover this requirement in a timely manner to avoid complications in the future.
- Are you going to take a break and take advantage of any of the vacation periods? Plan your vacation well in advance. Buy flights and hotel stays in advance, you can save a significant percentage.
- Do you plan to attend musical events, cultural festivals and/or concerts? Advance your purchase, your tickets may be cheaper. Avoid reselling tickets and take advantage of all the benefits offered by your credit cards, pre-sales, access to VIP areas, cashback and even taking advantage of interest-free months. This benefit is worth it when you partial a purchase and settle it before the event.
- Keep in mind in your budget those special dates on which you usually give a gift, from February 14 and May 10, to birthdays of family and friends. In addition to festive dates where there are additional disbursements such as Children’s Day, Independence Day, Day of the Dead or Christmas. Remember that it is possible to celebrate and surprise our loved ones without spending more.
- Allocate sufficient resources to acquire the necessary insurance that guarantees personal and family security and stability. Some of the most important ones that you should not miss are medical expenses insurance, life insurance, home insurance and car insurance.
- Build, consolidate or increase your emergency fund, remember that it must cover 3 to 6 months of your salary or, at least, your fixed expenses. Avoid using this fund to make impulse purchases.
- Don’t forget to periodically review your goals, usually these are forgotten in the first months of the year. Set aside specific time for a regular review.
Read: 10 Financial resolutions to have a great 2025
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