With the arrival of the “free”Thousands of Peruvians are already on the run for their last Christmas and New Year’s purchases. It is important, if it has not already been done, to budget for these purchases in advance to avoid spending more than necessary and getting into debt with the use of credit cards.
“It is suggested to take advantage of offers that are not associated with credit card consumption. We can take advantage of discounts and promotions for the Christmas season, postponing the use of credit. If we find a highly desired product or service, which is only discounted with the use of a card, the future expense (commitment) that this implies must be considered ”, says Luis Fernando Terry, director of the Marketing and Commercial Management Career at Le Cordon Bleu University.
Terry also points out that many of the Christmas purchases have an emotional motivation, where nostalgia, feelings and despair play a very important role; so many end up in check and out of control in their budget. “In these times prudence and equanimity are recommended to avoid falling into the irrational impulse to buy everything you want, but not necessarily used.” To achieve this, the specialist shares some tips to keep in mind:
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- Combine offers: Look for offers or promotions in stores, where you can also add discounts for being a member of a subscribers club, an airline, or some favorable condition (university card, for example).
- Earn points or money: Look for offers that generate a profit in miles, in money, or in points to be able to redeem them later.
- Prioritize discounts: Prefer price discounts over volume promotions, especially on household products. Discounts are more profitable than block sales (3×2 or 5×4 promotions). Choosing the latter will make you have more items than you really need.
- The cheap can be expensive: Buying cheaper items, but that were not necessary or are out of your budget, is not a saving, even if they are 50% off.
- Be cautious: Be attentive to the amount of credit / loan that you have consumed on your credit card. The monthly payments of the cards should never add together, more than 40% of your personal income.
At the end of the year, formal workers have access to bonuses, Christmas bonuses and the “grati”, which improve short-term liquidity. On this, Terry shares one last piece of advice, as it is a good time to pay off debts or reduce fees, and keep saving for future needs.
