In a scenario of high inflation, with 7.7% in the first half of December, and the uncertainty that the coronavirus and the war in Ukraine continue to cause, it is important that you are prepared to take care of your pocket.
Something that will give you peace of mind is saving, as you will form a “cushion” to deal with unforeseen events.
Saving
Before allocating an exact amount to savings, review how much you earn and how much your monthly expenses amount. Once you have that clear, you can “use it in cases where you do not have another means of payment and they are essential,” says Juan Luis Ordaz, Citibanamex’s director of financial education, in a report.
Experts in personal finance and the National Commission for the Protection of Users of Financial Services (Condusef) recommend that the amount of your emergency fund be between three and six months, to meet commitments such as the payment of personal, automotive loans or mortgage, as well as day-to-day expenses.
Once you set the amount that will make up your emergency fund, it will be important that you define the amount and frequency with which you will save -weekly, biweekly or monthly-. It is difficult to talk about amounts to save, since it depends on your income, so it is advisable to allocate at least 10% of the total amount you receive each month for this purpose and be constant.
If possible, Ordaz of Citibanamex recommends, set up an automatic deposit to save. This can be both in the bank where you have your salary or in any debit card.
An option that may be useful to you is in cetesdirecto, where you have the option of programming recurring savings and, at the same time, earn interest on your money to shield it against inflation.