Meet Sofía: A Model of Responsible Saving
Sofía, a dedicated saver for the past five years, has mastered the art of saving for major sales events like the Buen Fin without straining her finances. Her secret? An “ant’s savings” strategy, accumulating small amounts of money over time.
Sofía’s Savings Strategy
For the 2026 Buen Fin, Sofía started saving in November of the previous year. Her method? She deposits every 5, 10, and 20-peso coins directly into her savings jar. This way, she avoids impacting her daily budget while gradually building a substantial fund.
- In 2025, Sofía saved over 9,000 pesos, which she spent on necessary items and occasional treats.
- Three years ago, she saved nearly 14,000 pesos, using half for furniture and the rest for clothing and smaller items, keeping her debt manageable.
Prioritizing Savings and Expenditure
Sofía’s approach is an excellent tool for avoiding debt during sales events like the Buen Fin. However, it’s essential to prioritize spending and understand different types of savings.
- Emergency Fund: Aim for 3-6 months’ worth of fixed expenses to handle unexpected situations.
- Retirement Savings: Ensure long-term financial security.
- Wealth-building Investments: Explore opportunities that generate returns and grow your assets.
After securing these priorities, any additional savings can be directed towards events like the Buen Fin.
Informal Savings: The Most Common Method in Mexico
According to the National Inclusion Finance Survey (ENIF), 88% of Mexicans aged 18-70 save informally, meaning they store cash at home or use tandas (rotating credit associations) without formal financial instruments.
- 24% of these informal savers allocate funds for purchasing goods like clothing, jewelry, vehicles, and real estate.
Informal saving methods lack security for your money and don’t generate any economic returns, making them vulnerable to inflation and price increases.
Expert Advice on Saving Methods
Finances expert Gianco Abundiz recommends formal saving methods, but acknowledges that strategies like Sofía’s can be a good starting point. He emphasizes that the key is developing a saving habit, as it not only helps you track your money but also brings peace of mind and opens doors to a better future.
Key Questions and Answers
- What is Sofía’s savings strategy? She saves small amounts of money (5, 10, and 20-peso coins) in a dedicated jar, accumulating gradually without affecting her daily budget.
- What are the different types of savings to prioritize? Emergency funds, retirement savings, and wealth-building investments should be prioritized before discretionary spending.
- What percentage of Mexicans save informally? 88% of Mexicans aged 18-70 save informally, according to the ENIF.
- What are the risks of informal saving methods? These methods lack security for your money and don’t generate any economic returns, making them vulnerable to inflation and price increases.
