Sofia Macias, creator of “Small Pig Capitalist”, gives us tips for not committing a crime with our finances at this time.
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“The end of the year is a time of many temptations, and a date where we have the spirit of christmas, the feast, the waste and generosity. For this reason our finances can be unbalanced a lot,” says Sofia Macias, author of the book “Small Pig Capitalist”in an interview with Entrepreneur in Spanish.
That’s why I ask you: are you already prepared for the season of deals this year? and I invite you to make a checklist with the advice that the financial expert gave us for not committing a crime with our money this weekend or the last six remaining of this 2019.
According to Sofia, these are the six tips that you should take into account:
Do you really have something to buy?: Before you go to a discount, Good End, Black Friday, Cyber Monday, Sale Night or whatever it is that you will go through think about whether you really have something to buy because if your going to do some sightseeing to shopping centres, surely you’ll come up with something because you’ll find an irresistible offer.
Don’t confuse saving with “expense discount”: This is one of the errors most classic. That something is on offer does not mean that you may be generating a savings. If you shop without planning, and without comparing prices, you’re not saving, you’re spending with discount. “What is important here is not to get carried away, besides there are already so many seasons of deals in the year that will not be the last opportunity to buy something at a certain price”.
Compare prices on the internet or even in physical stores: If you already have clear what you are going to buy and are thinking of taking advantage of the season sales, you must hike a month before to find out what are the ranges of price of this article and to know if there is a real discount.
Don’t confuse financing or payment terms with discount– Sometimes the products are up to months interest free but the cost is the same. In this case what you would be doing would be prolonging your agony and financial you can become a “collector of months without interest” what can turn in to an uncomfortable income.
Do not buy things that have a shorter lifespan with your pay period: For example, if you are going to buy a Christmas gift, not what goals to 12, 16, 18, or 24 months without interest, because you’re going to reach the next period of gifts and you are going to continue to pay the previous one. It is the same with products that have warranties of one year, if you set it to 24 or 36 months no interest, what are you going to continue paying even though it will decompose.
Do not apply the “cheaper by the dozen”: Even if you have the 30% discount or are 3×2 don’t take the blue shirt, the purple and the black one or the entire collection for feel save. If you do the analysis probably paid two or three times more than if you had purchased a regular price.
Then you place this in your mind will have better tools for taking care of your portfolio. And as it says in Sofia take advantage of the season of deals and don’t let her take advantage of you.