Is it good to have debts?
Many people think that it is not good to have debts, be it credit cards or a bank or payroll loan. However, this is a good tool to capitalize and fulfill a project that you have in mind without having liquidity problems in the short term.
Before contracting a debt or making a purchase for months without interest, keep two things in mind: Acquire something that you “really need” and that is a “commitment that you can face” during the time you are going to be paying, recommends Alejandro Reveles , brand and communication director of the financial company Fintonic.
“If you use it to go beyond your means and spend on things that you will not be able to pay for in the future, it will be super complicated,” added Gabriela Rolón, country manager of Creditas México.
If you have in mind to take advantage of the offers and promotions of the Good End, remember that monthly payments should not be greater than 30% of your total monthly income, recommended Elizabeth Mondragón, spokeswoman for Yotepresto.com.
If you are already paying for other purchases or are in the process of paying off a loan, do not forget to include it in that 30% of your budget and, thus, avoid falling into an unpayable debt or having problems meeting the monthly payments.
For example, if you earn 10,000 pesos a month, what you allocate to pay credits or monthly payments does not exceed 3,000 pesos.
What does it mean to have healthy finances?
Once it is clear that a debt or credit is a useful tool for your pocket, it is necessary to carry out other exercises to know your financial health.
“Having healthy finances or financial freedom is not earning a lot; you can earn 100,000 a month, but if you spend 120,000 they don’t have healthy finances. To have healthy finances you need to spend less than you earn”, explained Mondragón, from Yotepresto.com.