Author: UNAM
The Christmas season brings important economic benefits as sales increase by department stores and in markets or in sectors dedicated to the preparation of banquets, food, even for those who offer some kind of show; However, in the family sector, this is one of the largest expenses of the year, points out academician at the UNAM Institute of Economic Research Eufemia Basilio Morales.
It usually occurs excessive expenses or compulsive shopping, which has consequences for people’s economies, says a university economist regarding December 24, the day of the celebration of Christmas Eve, one of the most anticipated and relevant holidays, in which more than 50 percent of those at the family level participate bonus intended for this holiday.
Only for the purchase of Christmas tree decorations and sages More than 20 percent of the resources received each year are invested, which represents a significant amount of expenditure beyond dinners, decorations, etc. We must celebrate, but with caution; “We see this from two sides: great economic benefits and, on the other hand, high costs,” he emphasizes.
According to the expert, Christmas holidays They represent a good time for the economy, in addition to national holidays, Day of the Dead and even New Year’s; There are shows, promotions, discounts and other useful events.
Basilio Morales mentions in an interview: According to Mexico City, in 2022, sales for the season amounted to 37.334 million pesos. Secretariat for Economic Development from the capital of the Mexican Republic; This is without a doubt a situation that is conducive to stimulating consumption and investment, and the same is expected to happen this year as well.
We know that there are specific sales that take place in Christmas and the products we see on store shelves from August to January, with the intention of moving closer to the season we crave and buy, remember.
However, he recommends that good family management. We know that times are difficult now, although in terms of inflation last year was more difficult than now; But even then, you always need to anticipate or see further. The goal is to get it right and allocate a fixed budget for dinner and gifts, and this will allow us to have a clear understanding of the savings culture.
For a university student, the best gift would be to pay off the debt or create, for example, a reserve fund. Let’s remember what happened to us because of the pandemic, medical care is not cheap, what if an emergency situation occurs in this area.
Therefore it is necessary to have family savings this, no matter how small, helps and thereby contributes to the development of culture in this matter. Banks offer investment instruments from 500 pesos, you save this amount, and gradually it grows, or at least you don’t spend it, you need to plan, the specialist insists.
Basilio Morales also suggests avoiding credit card debts as many people have exhausted them because it is easy for them to pay with so-called plastic money without tracking it. “We must clearly understand how much we can spend, what interest these purchases can bring if we do not pay on time, in addition to the excess; and make a budget, look how much money I have.”
This emphasizes that acquisitions usually make us happy, and at Christmas even more so when we see the lights and seasonal decorations It gets our attention; When we go to the Christmas sales e-page, we spend half an hour browsing or putting aside some products, and this creates “well-being” whether we buy them or not.
“We spend more than we should irresponsibly and then realize we don’t need it. If you want something, wait 72 hours, then consider whether you are sure you need it, in addition to comparing prices,” he reiterates.
Another beneficial action for the budget is purchasing christmas goods This will help the economy, consumption and investment next season, he emphasizes.
We need to make a budget in life and especially at Christmas based on what we will eat for dinner, how much we will spend and buy the necessary groceries in advance. On the eve the shops and warehouses will be full of high prices, it is advisable to have a list of people to whom we will give gifts, cook food at home“That is cheaper,” says Basilio Morales.
Source: Aristegui Noticias

Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.