The typical slopes of January and September now coexist with some more due to the impact of inflation on households. To the calendar it is time to add the autumn or winter season, which comes with the drop in temperatures, the greater energy expenditure and the preparation for Christmas expenses, today an expense campaign that lasts from Black Friday in November until Three Kings Day. .
Inflation is not forgiving, with increases since July. "With the perfect storm of rising prices and rising rates, everything has increased: food, services, education, clothing, travel...", explains José Manuel Corrales, professor of Economics and Business at the European University. Although it has been possible to use savings accumulated in the pandemic to face the situation, the margin is becoming smaller and smaller. "Families with fewer resources are having a worse time," he concludes. There are five major fronts to attack.
Between food and energy, a good part of the income is already gone. In order not to deviate and end up in red, you have to do numbers. "It is essential to face the fall slope by planning and knowing that there is less debt capacity," says Corrales. The rise in interest rates leaves loans more expensive, in addition to the closing of the tap carried out by the entities themselves.
The advice is to set a budget, with clear items and objectives so as not to deviate, without forgetting to always allocate a part for savings. A closed shopping list, without being guided by whims when going to the supermarket, can make a difference. In a broader picture, we must prioritize and distinguish between essential expenses, such as energy, housing or education; necessary fixed expenses such as clothing and footwear and dispensable expenses such as vacations or leisure. Adjust more on the last.
This planning can be best applied, especially by families with good income or above low income, says Corrales, since between housing, food and bills, those who earn little barely have room to manage their accounts.
The big expense that bursts into homes these months is in any case energy. The increase in energy costs was already one of the main problems in homes last year, with the gas being released after the invasion of Ukraine broke out. This exercise seems to be more benevolent, but without being free of scares. "The war in the Middle East can cause an increase in gas, oil and energy prices and favor an inflationary crisis," warns Corrales. From gasoline at the pump to the daily price in the electricity market, in the coming months we will have to pay attention to its evolution.
On the electrical front, once again we must take out the repertoire of tips to save on the bill. "With the drop in temperatures it is very easy to make the mistake of keeping the heating or the light on for too many hours," explains Manuel Zabala, co-founder of the Chollometro offers portal. The simplest are to maintain a temperature of 19ºC and 21ºC for heating, reduce the use of appliances that need heat to operate, such as the oven, replace light bulbs with LED type ones, check that you have the correct contracted power, and unplug appliances that are not used frequently.
The greatest savings, in any case, are achieved by having the technology that is most cost-effective for the type of home in which one resides, comparing, for example, the expense with boilers and heat pumps. The initial investment may be higher, but in the long run savings are achieved bill after bill.
Back in the shopping cart, the need to compare repeats itself. "The economic context is causing changes in purchasing habits, there is an increase in users who visit platforms that bring together offers and promotions from physical and online stores. They are becoming much more informed before purchasing and think more about their decisions," explains Zabala. In this type of portals you can save up to an estimated 80%.
Thus, discount and comparator platforms present themselves as an ally. "The consumer tries to modulate spending and direct it to what is necessary," says Jaume Molins, director of mass consumption at Shopfully Iberia (Tiendeo).
Molins explains that in the supermarkets' own (white) brands they try to keep the price lower as they are more difficult to compare, while in the manufacturer's brands "in the context of the current high CPI, the offers help to decide the purchase", so they are launched continuously.
The customer increasingly chooses to compare at home and buy in store. The digital brochure is consolidated to provide an overview. According to a recent report by ShopFully and NielsenIQ, 46% of consumers consult catalogs before making their purchases. It is mainly done to find out about new offers and discounts and look for promotions from the usual brands. It also pays off for the sector, since it accesses a more digital client. "For two or three years it has been understood that the greatest viewing is achieved on online channels," argues Molins.
With rising expenses in tight pockets, the coming string of commercial parties can lend a hand and serve to save. At the same time, without control it can complicate things much more.
In a few weeks the list of commercial holidays begins. As a summary: November 11 is Single's Day, November 24 is Black Friday, the 27th is Cyber Monday, Christmas, Three Kings Day... "They help you find cheaper products, but you should always take advantage of them." promotions in a responsible way," says Zabala.
The offers of the first days are usually in technology, although this year we have to broaden our view. "It is likely that the conditions of high temperatures and inflation will lead to growth in textile offers during the coming weeks, coinciding with the start of the most important commercial campaigns of the year," he believes.
Again, you have to watch both extremes. That of taking advantage, since the discount season serves to advance the purchase of Christmas gifts at more affordable prices, for example; and to avoid compulsive purchases, with a list of what you want to buy to focus only on certain offers.
In addition to comparing, another obligatory step is to study the evolution of prices to avoid coming across false discounts. The OCU estimated that 99% of the sales were "not real" on Black Friday last year. Chollometro and similar portals do this price monitoring in certain cases, which allows you to see its trend and if the reduction exists.
As at any time of the year, silent expenses, those that eat up your wallet without you realizing it, have to be attacked. From subscriptions to platforms that are not used, gyms that are not visited or leaks that increase the base water bill, between ghost and vampire expenses, the pocket is suffering.
The problem is that by charging them on a fixed basis they take a part of the budget from the first moment. Identifying and eliminating them is a good way to gain margin for other expenses or savings.
