How to get the best out of our budget?

One more year, like every beginning of summer, the traditional sales period begins in our country. For this reason, put me offthe digital payment and flexible financing platform belonging to the digital bank WiZink, has developed a simple list of tips to help consumers make the most of their budget and avoid or minimize unwanted situations related to their personal finances that could become detrimental to their economies.

In addition to being one of the times of the year with the highest consumption, the sales period is also, for the same reason, the period of the year in which consumers tend to resort more frequently to financing their purchases. According to data from Aplazame corresponding to the 2022 season, financed sales increased during July and August by 18% and 15%respectively, compared to the average for the first six months of the year.

With the title “Help us change the rules of consumer credit”, Aplazame has prepared a simple guide that includes five recommendations so that users can function with peace of mind when managing their finances, being able to put them to the test during these next weeks of sales.

  • Think purposeful shopping

The sales period can be a good time to make the purchase of essential products or services, or treat yourself to that whim that we have been waiting for some time. However, it is important not to get carried away by the maelstrom of discounts that can lead to impulse purchases of products that we really do not need.

  • Plan your sales budget

Defining a budget in advance and sticking to it is always a recommendable formula. We must not forget that, although we are in summer and in the sales season, fixed expenses are still there. That is why it is important to take them into account when defining our budget.

  • Maintain financial control throughout the year
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Planning expenses throughout the year, and not only in extraordinary periods, such as those that can represent sales or vacations, is key. If we calculate the fixed expenses month by month (rent, internet, telephone, electricity and taxes), the surplus that we have left will be what we can have to face variable expenses. Therefore, setting a limit to them, and being disciplined in complying with them, can be very useful to avoid surprises. An Excel never fails when it comes to keeping accounts, but there are also many programs and mobile applications that can help us.

Choosing to make sensible and planned purchases also allows you to compare and find the best option. In this way, it is good to search for products on the Internet and choose the price that best suits our budget. At the same time, there are many online stores that announce in advance what their offers and promotions are going to be, so paying attention to this type of message can be a good way to save money.

  • Take advantage of alternative payment methods

Using flexible financing during the sales season can be an interesting option to achieve the objective that we have set for ourselves without giving up the budget that we have defined in advance. Specifically, it can be a good option to undertake those purchases with sense, which respond to a real need, and whose amounts may be somewhat higher.

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