El Buen Fin is a government program in Mexico aimed at reactivating the national economy, seeking to achieve this goal through promoting domestic consumption. For several years, the period covered by this program traditionally spanned four days, from Friday to Monday, coinciding with the long weekend for November 20th, the anniversary of the start of the Mexican Revolution. During these days, various stores nationwide offer direct discounts on their products, some provide refunds for future purchases, and the most common promotion is deferred payments in monthly installments without interest (MSI).

Due to the ongoing pandemic, the Confederation of National Chambers of Commerce, Services, and Tourism (CONCANACO SERVYTUR), coordinator of El Buen Fin, decided to extend this program to two weeks, covering from November 9th to 20th of this year. The decision is based on preventing overcrowding as seen in previous years; for this reason, merchants were asked to implement sanitary measures aligned with this objective. Similarly, the extension of the period has significant economic purposes, as we are coming from a period of slowdown that hit rock bottom in April and May, and this event aims to generate momentum for the recovery of various industries in our country.

El Buen Fin represents a great opportunity to take advantage of discounts and financing options offered on products or services that we already plan to purchase; however, it also opens a window for excessive indebtedness and unnecessary purchases which, combined with the current economic uncertainty, could pose a significant risk to our personal finances in the coming year. Let's not forget that, despite being in a stage of recovery, there is also an increase in COVID cases, a situation that is leading European countries to reimpose economic closures. As individuals, the risk of job loss or income reduction in businesses remains a likely scenario in which we could find ourselves, and we may not be financially solvent enough to meet payment obligations such as MSI.

With the above reflection, I am not saying that we should avoid shopping during this period; rather, I seek to highlight the importance of making responsible, informed, and well-analyzed consumption decisions. Along this line, the first step is to analyze our current financial situation, ask ourselves what we really need, and how much we can afford. This will lead us to create a budget, prioritizing the items or services we will purchase, and even, if applicable, we can set aside a specific amount to take advantage of the promotions we see, and it is vital to stick to it. Once defined, it is necessary to compare prices; we can do this by checking them on the various websites of the stores or using comparison tools such as the "El Buen Fin 2020" application from CONCANACO SERVYTUR. It is important to review the final cost as many stores use discounts on top of discounts or other promotions that can be confusing.

In addition to pricing strategies, some institutions provide refunds for future purchases, which becomes interesting for a user who frequently shops at that place, as not doing so would require them to purchase a product later that they may not need just to take advantage of the granted benefit. As mentioned earlier, months without interest represent a payment obligation, so we must analyze the monthly payment and the time we commit to paying it; it should be treated as a fixed payment, otherwise, not paying or making lower payments will result in certain interests corresponding to the card used for payment.

Let us support Mexican SMEs as much as possible, as they are the ones who need resources the most in these times of crisis. Let's think about producers, local merchants, and those whose annual incomes practically depend on sales during this season. Similarly, let's not forget that Buen Fin is not the only period when discounts are available. If our economic situation is not strong enough, it is preferable to strengthen ourselves, save for emergencies, and once we have greater financial strength, consider taking advantage of seasonal discounts, clearance sales, or other promotions throughout the year to buy what we need.

It is important to mention that, just as our decisions should be guided by financial responsibility, it is fundamental to appeal to consciousness in health matters. We are still in a pandemic period; let's avoid overcrowding, follow sanitary recommendations. El Buen Fin will last for two weeks; let's not overcrowd the stores and let's not go out unless absolutely necessary. When we do, let's maintain social distance and respect the use of face masks. Instead of physically going to stores and moving from one place to another, we can take advantage of the resources offered by the internet and make our transactions online. The best way to move forward is by taking care of ourselves collectively.