Usually, some people spend the money they do not have for the Christmas holidays and the celebration of the new year through the use of personal credits (credit cards, bank loans, etc.), and in January they face expenses such as payment of property tax, car registration, insurance policies and traditionally in January there are inflationary pressures such as the generalized increase in prices, which implies paying more for the products and/or services consumed.

Today, the world is experiencing a phenomenon of high inflation and our country is no exception. In the last few months, there has been an increase in the prices of some products of the basic food basket, and in January they may continue to increase, which is why the so-called "January slope" will be more noticeable.

The best way to solve the lack of money in January is to make adequate planning of expenses and avoid contracting personal debts, learning to plan expenses with 90% of income is a way to avoid financial problems.

The proper planning of personal finances lies in not spending more than the income, if we can meet our expenses with 90% of the income we will be in a healthy financial position since it also implies a 10% savings, which we can allocate to invest them or face imponderables in the expenses that unexpectedly may arise.

How can we measure the financial education of a person? This can be checked in January, if there is insufficient income, the credit lines are saturated and the only option to obtain resources is by pawning their belongings and/or selling them off, it would tell us that there is a great area of opportunity in that individual.

The economic difficulties of an individual bring as a consequence emotional and psychological imbalances that can even be transferred to the family and close circle of the sufferer. Therefore, for financial and mental health, it is appropriate to have control of expenses to start the year with joy and with the expectation of achieving the desires we want so much.

By: Leobardo Martín Vázquez González, UAG Academician