It is no secret that a large percentage of the Mexican population currently does not have a stable economy, so the low class rate has gradually absorbed the middle class. And in many situations it is easier for the Mexican to hold someone else responsible for this type of grief, for example the government, which may be partly to blame, however it is worth reflecting on some bad economic habits that the average Mexican commits daily
It does not save: According to CONDUSEF data, the 40% of the population does not save, however, despite the fact that the other 60% claims to do so, they carry it out informally, that is, through the so-called “tandas or mutualists”, some keep the money at home, so you could lose value over time. In the same way when they are given the cash they have the money to make pending payments. It is advisable to protect your money in a bank, which have different plans that this does not lose value over time or may even generate interest in favor.
Much less invest: In the previous paragraph the lack of savings culture in the Mexican was mentioned, therefore the number of people who invest their money in their own business or in the stock market, according to the economist of each 10, 000 people in Mexico, only 35 invest in the Mexican Stock Exchange, while in the United States for every 100 at least 65 does. The situation in Mexico is because people believe that this activity is for people of the upper class, there is also the fear of failure to start their own business.
Misuse of Credits: It has become something completely normal that when the Mexican begins his liberal this is seduced by the promoters of credit cards issued by the banks or some department stores, which are often accepted to be used "in cases of emergency" or to take a “taste”, even some of the cardholders are captured from an early age, so they do not always have the knowledge or maturity of how to use the credits. According to the National Banking and Securities Commission in the 2017 there was 2.15% of debts against the different types of credit, which represents the amount of 4.3 billion pesos. The Mexican is used to using more than one credit card, calculating how much he can deposit to these when having his salary, in many occasions as well as paid salary they remain without this, since everything was directed to the payments of the cards. Now imagine what would happen if these people were left without a job for one or two months, they might not be able to pay what corresponds to them during those months and even if they re-enter the workplace, interest will have already increased the debt significantly and this is one of the reasons whereby cardholders stop paying their credit permanently.
Ant expenses: These can be generated daily without us noticing, they are small monetary transactions that many times we do not pay much consideration, for example buying a 500 ml soda daily, which is around $ 10.00 mx, at least in a month In this type of drinks the Mexican would be spending $ 300.00, now take into account that people usually have more than one ant cost, for example, cigarettes, chips, cookies, coffee, etc.
Envy and competition: Unfortunately, the Mexican is in constant competition with his neighbor, so sometimes he is on the lookout for the achievements or expenses of his relatives or neighbors, for example if the brother-in-law bought a new car suddenly from the Mexican, he seizes the desire to buy one and preferably better, perhaps making an unnecessary expense. Another example would be when the neighbor decides to start a small food business, it begins to go well, but instead of one applauds the success of the other the Mexican begins to question why he is doing well, compares with the neighbor and even swears that he or she cooks better and could easily compete.
Slave of marketing: The Mexican is an easy prey for different marketing strategies, so he constantly ends up buying things that he did not really need or perhaps, but bought the most expensive product for reasons that the brand has a reputation for. Among the most common strategies are interest-free months, product auction, seasonal sales; It is as if the brain told them "if you don't buy you don't save".
It does not keep track of all your expenses: It is rare to find a Mexican who carries out the registration of his fortnightly or monthly expenses, at least in an 100%, they may have the record of the payments that he must make in his credit or departmental cards and other fixed expenses, however Expenses that were not contemplated are ignored.
It does not have a contingency plan in case of emergencies: Although it is an obligation on the part of employers to provide their workers with Social Security membership, many ignore this legal requirement and the employee does not demand this right, in the same way there is a significant percentage of Mexicans who support economically by the informal route so they do not join Social Security either. Unfortunately, the percentage of Mexicans who take out insurance such as life or vehicle accidents is even lower because of the classic thought of "What is the probability of that happening to me?"
Machismo: One might ask, How does machismo have an impact on the Mexican economy? Unfortunately, in some of the country's families, it is not enough for one of the paternal figures to work, but in many “conventional” marriages there is still bad practice in the one that the husband forbids his wife to work and generate more income for the home, imagine the benefits they would provide to their home if both contributed financially. Similarly, there have been situations where both work, but the ego of the husband is hurt by the fact that his wife receives more economic benefits than this.
Which of these bad habits did you identify with ?, and what other bad economic habit do you know?
Bachelor of Education with a Master's Degree in Political Marketing