In the economic situation in Costa Rica, establishing a personal or family savings plan is of the utmost importance. Financial experts assure that in times of uncertainty, saving becomes a necessary issue, because one must be financially prepared to face any eventuality, in addition to paying for needs and responsibilities.
“There is no bad time to save, it is always a good time to do it. Saving is synonymous with good financial health, so it is recommended to set aside an amount of income and allocate it to this concept, visualizing having investment plans, facing future financial needs or developing personal or family projects”, explained Adriana Benavides Villegas, Director of Business Centers of Mucap.
On the other hand, the expert indicated that it is vitally important to provide financial education to children in families to instill savings, the proper use of money and teach them to create budgets to meet their needs or future projects.
Is it better to save in dollars or colones?
To answer this question, it is essential to define the projects or needs for which these savings will be used. In addition, the period and the currency in which you want to make a certain payment.
“It is advisable to keep a savings in both currencies, since one is for projects or short-term needs and that, in advance, we know that its payment is in colones; saving in dollars allows us to maintain the value of money over time, so, with savings in this currency, we can take on projects in the medium or long term, for example the purchase of a vehicle or the payment of a housing premium”, added the Director of Business Centers of Mucap.
Maintaining the value of money
To exemplify this, the expert points out that, if you want to open a savings plan to travel abroad, it is advisable to do so in dollars, since this will allow you to maintain the value of money, regardless of the economic factors that may arise in the future such as the high exchange rate, devaluation of the colon, among others.
On the other hand, if you want to allocate the savings to pay expenses with peace of mind at the end of the year, you must analyze that it is a payment that will be made in a closer term and in colones, therefore, the recommendation is to make this saving in the national currency.
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