November is a month highly anticipated by many consumers, as there is a greater increase in discounts and promotions. As he Good end (November 17-20) as the Black Friday (November 24) have become emblematic dates for shopping. This phenomenon not only benefits customers, but also represents a crucial opportunity for all types of companies, which seek to increase their sales and strengthen their presence in the market.
This discount period implies for customers to make intelligent financial decisions. Planning and strategy are key to maximizing this window of opportunity without representing risk or severe debt.
According to the Mexican Association of Online Sales (AMVO) during 2022, Buen Fin alone generated an economic benefit of 134 billion pesos in sales. This data highlights the magnitude of the impact that these dates have on the economy, not only in terms of consumption, but also in the dynamization of the market and the generation of temporary employment.
5 financial tips to make the most of Buen Fin and Black Friday
To make the most of this discount season and manage your personal or business finances wisely, I recommend adopting five financial tips to make the most of this season:
1. Planning and budget
The foundation of any successful financial strategy is planning. Before diving into tempting offers, it’s essential to set a clear and realistic budget. Keep in mind which items are a priority, how much you are willing to spend and which offers are truly profitable. The above will help avoid impulsive spending and control cash flow.
2. Research and price comparison
Before making any purchase it is advisable to research and compare prices. In this digital age, there are numerous online tools and platforms that make it easy to compare prices at different stores. This practice will allow you to identify the true offers and ensure you get the best price for a product or service.
3. Strategic use of credit cards
Using credit cards can be a powerful tool during discount season, as long as it is used responsibly. Taking advantage of cashback offers or points and loyalty programs offered by some cards can provide additional benefits; However, it is essential to maintain a financial balance between expenses and income.
4. Prioritizing needs over wants
It is essential to differentiate between real needs and momentary desires. During the discount season, it is common to feel pressure to purchase products that are not really necessary. Staying focused and avoiding the temptation of impulsive purchases is vital to maintaining healthy finances.
5. Be careful with debts
Deals and discounts can be tempting, but accumulating unnecessary debt can have a negative impact in the long term. If you use credit, it is essential to ensure that you can pay off debts without compromising future financial stability.
With careful planning, strategic focus and discipline it is possible to make the most of these offerings without compromising long-term financial stability.
Alan Ramirez Flores Founder and CEO of Coperva, a leading firm in recovery of past due loans. It has various recognitions for innovating the industry in which it participates. Author of the book Leadership for Everyone. Lecturer.