Understanding the Context: The Mexican End-of-Year Bonus (Aguinaldo)
Each December, the aguinaldo reappears as a central theme in Mexican households: immediate relief, celebration, and an opportunity to make financial decisions that strengthen overall financial health. As an economist and CEO of UNIFIMEX, I believe there are fundamental principles that should guide the use of this extraordinary income.
To begin, let’s establish the context. The aguinaldo is a mandatory benefit in Mexico that should equal at least 15 days of salary. Various analyses estimate the average in Mexico to be between 20 and 30 days of aguinaldo. For millions of families, this income represents the possibility of ending the year with greater stability.
Financial Health: More Than Just a Concept
Financial health is not an abstract concept; it’s the ability of a family to cover their expenses, meet their commitments, and face unexpected events without compromising their well-being. The aguinaldo can become a valuable ally if used strategically. A basic recommendation is to divide it: one portion for paying debts, another for saving or investing, and a third for seasonal expenses.
UNIFIMEX’s Commitment to Financial Well-being
At UNIFIMEX, we firmly believe that banking should be a genuine ally for people. The financial groups that are part of UNIFIMEX work for the Mexican people, understand their reality, and are willing to help when it’s most needed—even when the water reaches one’s knees or neck. These institutions share a common vision: accompanying clients during crucial moments in their financial lives.
Strategic Aguinaldo Usage by UNIFIMEX Member Institutions
Institutions like Afirme, Bancoppel, Actinver, Banco Azteca, Gentera, Consubanco, and Círculo de Crédito have emphasized the importance of using the aguinaldo strategically. Afirme and Actinver have promoted investing and short-term savings using the aguinaldo; Banco Azteca and Bancoppel have encouraged simple schemes for distributing the aguinaldo among savings, debt repayment, and responsible consumption; Gentera and Consubanco have reinforced the significance of saving and responsible credit for families and small businesses; while Círculo de Crédito has highlighted that using the aguinaldo to reduce debts improves credit history and opens better financial opportunities.
These actions reflect a proactive, nearby, and responsible Mexican banking sector. It’s not just about providing financial products but offering guidance and solutions that strengthen people’s financial health.
Support During Challenging Times
When a client faces difficulties, the banking associated with UNIFIMEX seeks alternatives like restructuring, extensions, and flexible schemes to avoid over-indebtedness.
This is why Bancoppel, Banco Azteca, and Gentera concentrate 80% of their national efforts in financial education and inclusion.
A Call for Mindful Spending
My appeal is to think before spending. Enjoying the aguinaldo is valid, but doing so consciously is fundamental. Saving, investing, or paying debts isn’t a sacrifice; it’s a way to take care of ourselves and maintain our financial health.
I wish all readers a very merry holiday season and that the celebration of Jesus’ birth renews our hope and commitment to a world with more love, justice, and equality for all. Blessings!!
Key Questions and Answers
- What is the aguinaldo? The aguinaldo is a mandatory benefit in Mexico that should equal at least 15 days of salary, providing relief and an opportunity for financial planning.
- Why is financial health important? Financial health ensures a family can cover expenses, meet commitments, and handle unexpected events without jeopardizing their well-being.
- How can the aguinaldo be used wisely? Divide the aguinaldo into portions for debt repayment, savings or investments, and seasonal expenses.
- What role do UNIFIMEX institutions play? UNIFIMEX institutions aim to support clients’ financial well-being by offering guidance and solutions tailored to their needs.
- How do banks help during difficult times? Banks associated with UNIFIMEX seek alternatives like restructuring, extensions, and flexible schemes to prevent over-indebtedness.
