Between gifts, tourism and entertainment, December is one of the most expensive times of the year. It is common for people to arrive in January with a 'tight' pocket or even with debt. Experts advise starting the year with special care of your finances, this will make it arrive again in December with economic stability.

As a result of the economic crisis, the Financial Superintendency has set the lowest usury rates observed in recent years. For example, in January 2020 the maximum rates that could be charged by banks to credit cards was 28.16%, now, 12 months later the indicator is at 25.98%.

It is time to take advantage of the low interest rates that banks have and pay off your debts quickly, experts say that rates can continue to fall this year. It is even possible to negotiate interest rates with your bank, entities that have currently relaxed their requirements, understanding the situation many Colombians are going through.

For his part, Andrés Moreno, financial advisor and stock market analyst, stated that "people must remember that banks buy portfolios and that they have the right to transfer that to an entity that offers a better rate." It is advisable to constantly check the market interest rates, migrating to a bank with lower rates can help you save money and get out of debt more quickly.

It is important to remember that many companies review financial history in their job selection processes, and things such as traffic tickets, food lawsuits and reports in Datacrédito influence the decision. If you see that you cannot meet the payments, it is best to defer your debt to more installments, it is preferable than being reported in a risk center.

Source: https://www.larepublica.co/finanzas/los-seis-consejos-de-expertos-para-equilibrar-las-finanzas-despues-de-las-vacaciones-3111855