Go to concerts or not? Write down 5 tips that will help you take care of your pocket

Bogotá — After several months of being away from the crowds that concerts and leisure and entertainment activities entail due to the pandemic, at the end of 2021 these events began to be reactivated and in 2022 the year began with everything in this area.

This year the Festival Estéreo Picnic is back, there will be concerts by international groups such as Cold Play and Black Pumas and national artists such as Karol G, Juanes, Morat, Camilo Echeverry, among others. The poster is very dynamic in 2022 and likewise, the expenses to return to these can end up passing a significant bill to personal finances.

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If you are part of the team that will go to several concerts this year, Bloomberg Line consulted several experts to offer you some recommendations that could help you keep your personal finances healthy in the midst of the reactivation of concerts and leisure activities after the crisis of the Covid-19.

What are the tips?

Sergio Olarte, chief economist at Scotiabank Colpatria, commented that “it is important to have a very clear budget, including food, education, payment of financial obligations, and additionally a budget for socialization and mobility.”

The second piece of advice that Olarte gave is that “you should analyze how much of your disposable income can be used for these leisure expenses, normally that should be more or less between 10% and 15% of the monthly expense because the rest would be to satisfy the needs and the same to save, and thus be able to consume durable goods in the future or achieve other types of objectives.

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“We must bear in mind that inflation at this time is a very relevant factor and although it is very important to socialize, since it is essential not only for the economy but also for mental health, monthly disposable income must be taken into account and prioritize purchases

Sergio Olarte.

A third piece of advice given by Rafael España Amador, an expert in financial decisions, is that “before buying tickets for concerts or other types of leisure activities, the first thing a person should do with their salary is save, have a specific destination for that, even, there are people who can consider it a fixed expense. Only after saving should one assess whether or not there is money available for that type of leisure spending.”

The fourth recommendation is that you can make use of savings from the past that had specifically that destination, recreation. “Nothing healthier than being clear that there is a fund for concerts and the discipline of the past can be rewarded.”

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“Although fun and entertainment are fundamental axes of health and personal development, they should be considered as an expense because they are not assets that generate financial returns in the long term, they will not generate income and can go against health. people’s financial

Raphael Spain.

Finally, the fifth piece of advice is not to get carried away by the excitement of the concerts and the reactivation of these activities. “You must have funds or savings to invest in assets that generate returns and improve human capital, such as those derived from studying a postgraduate degree, before saving solely for fun and recreation.”

We wish to give thanks to the author of this short article for this remarkable content

Go to concerts or not? Write down 5 tips that will help you take care of your pocket