Christmas and New Year They are the most anticipated festivities for Peruvians, as it is a month full of celebrations, family gatherings and moments to share with loved ones; However, it can also become a challenge for finances if proper control is not maintained.
Economist Gisell Capristan Luna mentions that, between gifts, decorations for the house, dinners and social activities, it is easy to go overboard with expenses and even more so if we do not have a designated budget. It reveals that it is very likely that the average expense ticket for these holidays will remain the same as the previous year.
According to the Pulso Ciudadano study, in the last year the Peruvian would have spent S/ 379 on gifts for this season. Likewise, it details that the wide variety of purchasing channels available today, especially E-commerce, is one of the main factors that lead many people to exceed their expenses. In fact, this phenomenon could contribute to e-commerce sales during the 2024 Christmas campaign growing between 10% and 15%, compared to 2023.
“This month is very particular for the Peruvian consumer because there is extra income, let us remember that in November 100% of the CTS was released and now, many workers will receive the bonus or bonus; which means that there is more cash available for purchases and expenses this season. Likewise, they are exposed to the different discount campaigns and special offers that different brands are launching. All of this causes purchases to increase and in many cases, unnecessary expenses are incurred,” mentions the economist.
Thus, aware that this is a reality for many Peruvians, the expert provides some advice to take into account when planning expenses during these dates.
- Set a budget: Define a specific amount for each expense such as gifts, decorations, dinners, and outings. Likewise, establish a general spending limit.
- Take advantage of offers efficiently: it is important to compare prices on different platforms before making a purchase. Additionally, it is necessary to prioritize only essential purchases.
- Save an emergency fund: Set aside a portion of your income for unforeseen events. December can be a very unpredictable month, so having this amount of backup can avoid setbacks.
- Keep a record of expenses: write down each purchase and compare it with your budget. This will allow adjustments in real time and avoid excesses.
- Avoid excessive use of credit cards: before using them, it is necessary to consider whether the outstanding balance can be paid the following month or as soon as possible. Interest rates can turn small expenses into large debts.
“The key to fully enjoying the Christmas season is finding a balance between the enthusiasm of the celebrations and responsible financial management. Planning expenses, taking advantage of the available tools and prioritizing important expenses will allow you to close December without economic worries and start a new 2025 without financial setbacks,” concludes the professor at the Faculty of Business and Administration of the Cibertec School of Higher Education.
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