“People who take out loans to pay their electricity bills or buy gifts should be careful. The interest and fees on them weigh on the household budget long after the New Year“, he advised on “This Morning” on bTV financier Deyan Vassilev.
„It is good to prepare for Christmas and New Year not on December 1, but to set aside funds and savings after the summer holidays, so that we can welcome the holidays with our own money, and not take out loans“, Vassilev also said.
He advises not to buy luxury goods that we cannot afford, just to show off.
„We must have a financial culture“, Deyan Vassilev is categorical.
How to distribute our finances after the holidays?
„It is good to have buffers that will help with loans. Many people buy some of the goods and excursions on installments and by February and March they are in a difficult moment“, the financier commented.
“In 2025, we start well, but if there are shocks and an increase in unemployment in a family in which they have loans and one of them remains unemployed, we end up in a difficult situation“, he warned.
According to Deyan Vassilev, we have growth in lending, and in sectors such as light industry, programming and outsourcing, incomes have caught up with inflation.
However, in other sectors - such as the state, salaries are lagging behind.
According to the financier, the increase in the minimum wage in 2025 will lead to an increase in pensions.
According to Vassilev, it is very important to maintain a low budget deficit in order to enter the eurozone.