June arrives and with it also the opportunity for Colombian workers to receive an additional income that corresponds to the first premium of the year, a social benefit that must be guaranteed by employers before the 30th.
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The figure of this additional source of liquidity is calculated with respect to the total or partial time worked during the semester. And it is, without a doubt, an amount that, if it is not managed with the proper financial planning, could mean more expenses and indebtedness.
What are the errors when receiving the June premium?
June is one of the most anticipated months for Colombians.
Parachute Camilo Garay, Vice President of Consulting at DataCrédito ExperianColombians incur in spending it before receiving it, as a result of indebtedness and, on the other hand, fall into the temptation of allocating it for insufficient consumption.
“For this reason, it is important to encourage the good distribution of this additional input so that people have control over their expenses and can take care of their premium,” said Garay.
In this sense, the vice president of DataCrédito Experian Consulting, provides five recommendations for Colombians to properly manage this income:
Create a spending budget
Before you start spending, it is important to know what to spend on. The premium can be used in different ways and for different fines, It is important to know how much money you are going to use in each activity. In the event that this money is not enough for everything you have planned, try to prioritize what is best for your finances.
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Prioritize the payment of your debts and obligations
If you have debts and the premium can help cover them, pay as much as you can in order to promptly complete those obligations with third parties. Do not make the mistake of making necessary expenses and thus in the short term you will show yourself with greater liquidity.
Make a plan if you decide to go on a trip
Define how much to spend on lodging, transportation, meals and incidentals. This exercise will allow you to put the premium to good use so as not to over-indebted. Regarding this, it is also important to know the spending capacity so as not to generate payments and/or purchases with unsustainable future financial obligations.
Manage the quota of your cards
Think about your future and save.
It is likely that with the premium you want to make a purchase and, since you do not have enough money, you see the need to use your credit cards; for it It is recommended to verify what is the maximum quota of the card or cards that you are going to use.
It should be noted that it is key that you know your borrowing capacity and that you review your credit history, you can do it for free through midatacredito.com.
If you can now some pesos, do it
If you do not have debts, or you were able to cover them with the premium and you also had solvency, save your money. It is recommended that you reserve this extra money, keep it in your savings account or in a CDT so that, in the future, when you need it, you can take advantage of it.
An additional recommendation is to be careful with your data when making an online transaction, preventing you from being a victim of cybercrime.
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*With Portfolio information
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