Your Christmas Bonus and Christmas Shopping

At the end of each year, the Christmas bonus is the most anticipated by all those who have worked hard throughout the almost 12 months. The Christmas bonus is paid no later than December 20th of each year to every worker in private and government companies. This money is usually allocated to Christmas expenses or to cover debts. Here, at Kiwilimón, we offer you some tips to help you make smart use of your Christmas bonus so that you can make appropriate spending and save a little for the months to come. According to CONDUSEF, before you get overwhelmed with excitement for the bonus you are about to receive, consider the following recommendations: Create a budget. Having one will help you keep track of your money and allow you to understand your payment capacity to avoid compromising future income. Avoid impulse buying. It's necessary to weigh your purchases, which doesn't mean you can't treat yourself; the important thing is that not all of the bonus goes towards this type of spending. Plan your purchases. By thinking ahead, you can achieve savings and it will be more difficult to get carried away by the excitement of the season. Compare prices. Before buying a product, visit different stores to detect savings opportunities on each item. Avoid using credit cards excessively. A credit card is not extra money, and thinking it can be an extension of your salary is a mistake. Pay off short-term debts like credit cards. Use part of your bonus to reduce debts and start the next year with less financial burden. Allocate a part to savings. By channeling a portion of the bonus into savings, you will have resources to face unforeseen events or buy something necessary next year. Invest. You can allocate it to grow your wealth; options include Direct Cetes, Investment Funds, or Afore. Remember that if you manage your Christmas bonus wisely, you will be able to make the most of it and ensure your finances end up in the positive this year, helping you face and overcome the January slope.