As our country grows, the needs of the population every day increase, and the employment needs become more vulnerable for Mexican families, that is why when we hear through the media that the country is in economic crisis, this means that there are several economic aspects that will affect the pockets of Mexican families. For example, money can become more expensive, less scope for basic products, price increases, the exchange rate becomes fragile due to the sending of money from abroad, bank interests destabilized, etc.
Therefore it is more difficult to maintain bank savings. In addition, there is the possibility that there are fewer opportunities to obtain credits, financing and opportunities to start a business.
There are factors that most influence personal finances during a crisis and one of them is saving, since as most Mexican families do not have that culture and habit, they are not prepared for a price increase in their basic necessities. and many of them are affected in maintaining the family standard of living, therefore it is necessary to be prepared for that effect, and one of the tools is precisely to prepare a budget that allows you to promote savings and keep control of your expenses.
Savings
It is saving a part of your income today to use it in the future, that is, saving is not what is left over if it is not a fixed amount that must be included in the budget and therefore it is important to ask yourself, what is the use of saving ?, there are 3 purposes of saving:
1: Achieve short-term goals.
2: Have capital to invest in a business and obtain other types of assets, 3: Have an emergency fund.
If families established goals considering the previous purposes, they would not be affected by an economic crisis since having an emergency fund means preparing for unforeseen events and in addition to that, a budget is drawn up, they would know how much money they would have to reach their short-term goal establish a percentage of savings and emergencies.
But what is a budget?
It is a prior and detailed written record of your income and expenses within a certain period, it must be realistic since it is necessary to follow it strictly. Budgeting is simply planning what you want to do in the future and expressing it in money. And this is formulated to achieve the objectives set in a certain period.
To make the budget you need to identify 2 important elements: income and expenses.
Income: are those that are received regularly; and an example is the salary that is received every fortnight or also through a pension, we call these fixed income. There are also variable income, that is, when your perception is not always the same
And expenses: refers to the action of spending or the amount of what is spent and can be inferred from the money used in a purchase. As well as income, expenses are also fixed and variable.
Fixed expenses are those that are considered necessary and that the cost remains the same regardless of the occupation. For example: food, transport, electricity, gas and rent among others.
Variable expenses: are those that change according to the tastes and activities of each person. Or that they depend on the activity that is going to be carried out. For example: buying fashionable clothes and shoes, or simply eating out.
In conclusion, it is very difficult to know when a crisis will occur, that is the importance of developing this article, creating in the mind of the reader the habit and culture of saving to face a crisis, this through the use of financial tools as is the budget, since through it we can have a better control of the use and management of the income that is perceived.
