Due to the pandemic, the event of savings and purchase for months without interest will run from November 9 to 20.
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October 17, 2020 4 min read
This story originally appeared on Alto Nivel
Due to the health emergency generated by COVID-19, this year’s edition of El Buen Fin will seek to avoid crowds that could put the health of buyers and people who work in stores at risk. For this reason, the duration of the event was extended to 12 days. Fabulous!
Just to control the number of people entering the stores , one person per family will be allowed as long as they have a healthy body temperature and wear masks at all times.
The stores will also apply many sanctuary security measures so that customers can shop safely.
The truth is that, due to the pandemic, the most convenient thing would be to do our shopping from home.
According to the Mexican Association for Online Sales (AMVO), it is estimated that online sales will represent 30% of the proceeds during El Buen Fin this year . The association also estimates that five out of ten shoppers plan to spend more money on purchases over the Internet than in physical stores. I am in that statistic; I like to buy with the same conditions, or better, than physical stores.
If you are going to buy online, to avoid being a victim of fraud, enter the full address of the store you want to visit in the navigation bar , do not use public computers or unsecured Wi-Fi networks, check the purchase conditions, do not share unnecessary data To purchase a product, check the movements in your bank account through the App of your bank or through online banking.
Returning to purchases, in addition to there will be discounts, the Association of Banks of Mexico (ABM) has indicated that banks will offer up to 24 months without interest in the use of credit and debit cards, double and triple reward points , decreases in the applicable rates, and discounts on auto, life, home and personal insurance, as well as bonus monthly payments. Super!
One of the advantages for credit card users that exist in campaigns such as El Buen Fin is the possibility of being able to pay in months without interest, which allows the consumer to buy without being undercapitalized . What you need to be clear about is that you are committing to pay a fixed amount each month until the end of the financing term, which implies having to reserve a part of your income for this purpose.
An additional way to get more out of your credit card is by going to department stores, which in many cases allow you to transfer your points to an electronic wallet with an additional bonus for you to make purchases at that establishment. The same is true of many other loyalty schemes like the airline one.
If you plan to shop before, during or after El Buen Fin, don’t forget to first make your priority list and your budget so you don’t overdo it.
To support you in preparing your budget, ask for your Special Credit Report at www.burodecredito.com.mx; This document will help you get a complete picture of your current credit situation. You can get it for free once every 12 months.
When you know how much you can spend, compare products and prices in different stores so that you always take home or better at the lowest price.
Editor’s note: This text belongs to our Opinion section and reflects only the author’s vision, not necessarily the High Level point of view