The Buen Fin Season: A Double-Edged Sword
During the Buen Fin season, both physical and online stores offer a plethora of special promotions across various categories, from electronics to clothing and services. This period presents an ideal opportunity for shoppers; however, without proper planning, it can lead to unnecessary expenditures.
While the Buen Fin is synonymous with opportunities, it can also result in regrettable decisions. The abundance of stimuli often leads to impulsive purchases that strain one’s finances. According to a Kantar México study, 4 out of 10 households end up spending more than their budget during this season.
In 2025, the Buen Fin is expected to see a 15% increase in sales, but there will also be a silent rise in debts that extend far beyond the promotional period. Banxico reports that 42.1% of cardholders are trapped in minimum payments, turning “interest-free months” into years of accrued interest.
Expert Advice to Avoid Financial Burden
David García, CEO of Digitt, warns that this trend repeats annually due to insufficient financial planning. To prevent seasonal purchases from turning into a burden, he recommends:
- Keep monthly payments below 30% of your income.
- Pay more than the minimum when using credit cards.
- Avoid taking on new credits.
- Maintain clear records of income and expenses to avoid prolonged debt cycles.
7 Tips to Smartly Leverage Buen Fin Offers
Juan Luis Ordaz, Director of Financial Education at Banamex, shares seven tips to help you:
- Create a prioritized shopping list: Define what you truly need and avoid being swayed by unplanned offers.
- Set a clear budget: Determine how much you’re willing to spend and stick to it. If you have extra funds, save them for unexpected expenses or future purchases.
- Compare prices before and during the event: Research product prices to ensure that discounts are genuine and beneficial.
- Limit credit card usage: If you choose to use them, ensure you can pay the full balance before the due date to avoid interest charges.
- Use interest-free months responsibly: Pay the full monthly amount. Underpaying results in interest and can increase your debt.
- Resist impulse buying: Stick to your list, review the promotions, and purchase only what you genuinely need.
- Review promotion terms: Some offers may only apply to specific payment methods or products. Read the conditions carefully and verify that discounts are reflected in your receipt.
Key Questions and Answers
- What is Buen Fin? It’s an annual shopping event in Mexico offering special promotions across various categories.
- Why should I plan my Buen Fin spending? Proper planning helps avoid unnecessary expenditures and financial strain.
- What are some tips for smart spending during Buen Fin? Prioritize your shopping list, set a budget, compare prices, limit credit card usage, pay more than the minimum when using credit cards, avoid impulse buying, and review promotion terms.
