Do you are pursued by debts for end-of-year expenses … of 2016? Do not let it pass. Below we will give you some recommendations to better manage your resources during this time.
Faced with the happiness of having extra money – like the Christmas bonus – several may be tempted to use it at the minimum provocation for end-of-year holiday expenses , and even incur debts that jeopardize their financial stability.
The bonus is a mandatory end-of-the-year benefit, in accordance with article 87 of the Federal Labor Law. It consists of compensation with a minimum of 15 days of salary and must be delivered before December 20.
Other bnefits – some of which are not mandatory – that Mexican workers receive are:
For the public sector
- Additional days to the bonus
- Days of personal stimulation
- Vacation bonus days
- Calendar setting days
- Holiday bonus supplement
For the public and private sector
- End of the year bonds
- Savings banks
Avoid debts for year-end expenses with the following recommendations:
- Use it to acquire durable goods. Furniture, electrical appliances or home repairs, health or educational services ensure years of satisfaction and improve the quality of life. If you have debts, use these resources to settle them.
- Make a budget Identify your fixed and variable expenses, as well as your income – including your bonus. Fulfill your obligations and then use the remaining money as you see fit. Avoid falling into unnecessary expenses and end of the year gifts or impulse purchases.
- Compare prices and decide. Go to physical establishments or do a search online. Start your search even before the season of offers such as Buen Fin, Cyber Monday, etc.
- Anticipate the January slope. Manage your year-end expenses and avoid it.
- Beware of the cardzos. Remember that a credit card is not extra money.
Sometimes the savings or resources we have are not enough to cover our end of the year expenses . In this case, one of the instruments specialized in supporting the Mexican worker is payroll credit.
This is assigned according to the borrowing capacity of the applicant. With automatic discounts on the account where your salary is deposited, the monthly, biweekly or weekly fee is withdrawn to avoid late fees or interest. In addition, the requirements to acquire it are few.