The first months of 2023 will be accompanied by increases in the rates of taxes, transportation, rentals, food, among other basic expenses of Colombians, which are driven, for example, by inflation and the increase in the minimum wage.

In the presence of «the January slope», an economic phenomenon that occurs annually due to the growth in the cost of living, making the most of available resources becomes more important.

(Also read: Follow these 8 recommendations to have a debt-free 2023)

For this reason, experts from BBVA and Liberty Seguros Colombia offered some advice to carry out smart savings that allows citizens to realize pleasure and start 2023 with good financial health. In addition, it will be possible to calculate the spending and saving capacity during this time.

recorder expenses

It is essential to make a list of monthly expenses –transport, public services, food, among others– in order to be able to carry out a record of what is invested month by month in the essentials in order to review what is earned and what can be saved.

Write down the expenses that are given on a day-to-day basis, at the end of the month it will be possible to take stock of the money that is being earned, as well as the money that is being spent. The important thing here is to get to don’t spend more than you earnthat’s the purpose.

Prevent emotional triggers for spending

Detecting the psychological causes that drive consumption allows avoid temptationsbuy at times when you are stressed and avoid environments that encourage you to buy.

Sometimes free time and constant access to devices such as computers and cell phones can lead to buying necessary items on the internet. Promotions, applications with discounts e advertising while even working or studying, can result in filling the credit card quota in online or home purchases

Control the expenses ants

Moderate smaller purchases It can be a great relief because these represent one of the largest expenses that end up increasing financial capacity at the end of the month. Therefore, it is key to be able to carry out a diagnosis in order to keep in mind the destination of the money to carry out better budget planning.

(Also read: Layoffs: this is how you can find out how much interest you receive now in January)

Identify services that are not used

Knowing if you are losing resources due to unused subscriptions and/or services can be of great help to many people who purchased gym passesstreaming services, magazines, apps, bank accounts, among others, since these generate necessary monetary flows of which trace is lost.

Travel to national destinations

Given the possibility that Colombians can travel during this new year to have a few days off, it is better to consider visiting some national destinations given the economic situation that the market is facing due to the dollar rise.

Prepare food at home

Back to normality, it is common to go out with co-workers, friends or family to eat in new places without measure, discovering an additional expense, however, when cooking at home, expenses are measured more accurately.

It is important that when you arrive at the supermarket choose the products according to the budget and needs, a good recommendation to avoid buying too much is to make a list of daily menus for the week, that way when you buy in the supermarket you will identify the necessary products to buy.

It is also recommended to check the expiration dates of the food, in this way its durability is measured and will avoid wasting them in case of not using promptly. The main objective is to acquire a complete basket according to the needs and the number of family members at a moderate cost.