This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. Opinions expressed by Entrepreneur contributors are their own.

For you to start 2022 on the right foot, the ideal is that you have healthy finances and avoid the January slope. In that sense, Propiedades.com , shared some tips to achieve it.

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Gabriela Miranda, director and founding partner of GAAL Asesores, mentions that the January slope occurs for two main reasons:

• The misuse you could give the money you received in December (benefits)
• External factors. For example, a higher percentage in inflation

So that this is not a problem, the ideal is that your finances are healthy. This means a balance between what you earn, what you spend, and what you save. With this, you can face any eventuality, indicates the Real Estate analyst of Propiedades.com, Leonardo González.

If you want to have this balance in your life, we share some recommendations:

Save

“We always do it the other way around: first we spend and then we save. So I recommend doing it differently. Let’s save first, ”says Miranda.

“Without saving there is no way you can improve your financial life,” he adds.

For you to do it correctly, the suggestion is that you allocate at least 10 percent of your income to savings.

On the other hand, the National Commission for the Protection and Defense of Users of Financial Services (Condusef) suggests that you previously verify that the institution to which you will entrust your money is duly authorized and regulated.

Also, that you know which one gives you a higher interest rate, better service and charges less commissions.

Invest

Another suggestion is that you invest in instruments that:

• Allow you to direct your savings
• That the terms are not long
• Be low risk

An example is the Certificates of the Treasury of the Federation (Cetes). These are easy to use, they allow you to save from 100 pesos and you do not pay commissions.

For that, Miranda suggests that you previously understand where you are investing and investigate the different financial instruments that are in the market.

“First learn how a low-risk instrument works. Once you know it, then go up a level and so on until you get to a more elaborate one and understand its risks, advantages, disadvantages “, he explains.

How to manage a loan?

“You can get into debt as long as it is in something lasting and that your payment capacity is according to what you earn,” says the specialist from GAAL Asesores.

However, if you had to apply for a loan during the January slope, González says that to avoid delinquency you can:

• Set a feasible payment term
• Estimate the income required to pay off the debt
• Adjust the family budget
• Start new projects that help you generate additional income

On the other hand, Miranda suggests that, before accepting the loan, you compare between different institutions and ask for the strictly necessary amount.

Although these tips can be used to avoid the January slope, they are useful for you to follow throughout the year. Also, keep in mind that, if your goal is to buy a home, the ideal is that you previously have healthy finances.