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How to organize your finances at the end of the year?

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

December is a key month when it comes to personal finances . Although it is a season of many expenses due to Christmas gifts or holidays of the time, the New Year ‘s dinner and vacation planning, the pocket also receives extra income from the Christmas bonus, annual tax prizes by the companies or higher profits due to the increase in business sales.

In short, it is a month of financial entries and exits that requires special accounting, but not everyone knows how to control it. However, this complex situation can be turned in our favor.

Also, the end of the year is a good time to stop along the way and rethink your financial situation , fixing mistakes made during the previous months and setting financial goals for the next year. We give you some recommendations that will help you balance your economy and start 2022 on the right foot.


It is extra money that you do not have regularly, therefore it must be used wisely. For this reason, you must give priority to pending ones, such as debts, insurance and to liquidate or amortize credits, because there are commitments in which that money can be of great use.

When deciding what to spend on, experts recommend the PAC system (Payment of debts – Savings and investment and reduce Consumption, giving priority to the payment of pending – by 40% -). If you comply with this plan, you will see the fruits of your Christmas bonus.


According to the Condusef , not making a budget can be risky, because at this time you will have a greater number of temptations and not knowing how to manage them could lead to financial failure. It is important to make a list of all the things you want or must buy together with all the members of the household, this will allow you to have a much broader vision of the needs of both you and your family. For example, dinners are not considered a major expense, although they are. Experts recommend that the expenses of these meals be divided between each member of the family group who receives income.

It is important that you budget based on how much you can spend and not how much you want to spend, this will avoid making impulsive and unnecessary expenses that will produce new debts for the next year.

Purchase control

It is essential not to get absorbed by the avalanche of offers and promotions that are in the market.

In this regard, the Condusef says that you must acquire those things that benefit you over time. An example could be choosing to buy an efficient kitchen or washing machine, that is, replacing your old appliances with ones that allow you to save energy, before other things. Someone impulsive consumes disposable things that, over time, only produce imbalances in your economy.

Credit cards

It does not matter if you have three or four credit cards, try to use only one of them for the purchase of gifts, decorations or travel expenses this season.

However, the first option will always be cash. As for the payment of debts in plastics, always prefer the debt that most urges you or the one that you can finish paying faster. If you are looking for promotions at months interest, it may be a good option to save, but you should make sure that they include a 0% rate or at least a very low one. If you pay a lot of interest, in the long run, this “promotion” will make you spend much more.

Other recommendations

  • Avoid making the two main year-end mistakes: over-indebtedness and borrowing or borrowing money from someone.
  • Compare as many prices as possible before making a purchase. The market is wide and the offers vary widely. In this season it is essential that you do your shopping in advance.
  • Save at least 30% of your Christmas bonus and deposit it in an account that you cannot access until after January.

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