how to dollarize savings and where it is best to invest the extra salary to save money

how to dollarize savings and where it is best to invest the extra salary to save money
how to dollarize savings and where it is best to invest the extra salary to save money

However, and although Law 27,073 determines that the first installment of the SAC must be paid no later than June 30, This period may be extended up to four additional business days., which means that this year the payment can be made until July 6, 2024.

Bonus 2024: the strategy recommended by finance specialists

Currently, there is a strong trend among Argentines who choose to invest their money through virtual wallets, financial platforms or apps, a trend driven by the need to maximize returns and protect your income from inflation.

Aside from this decision, financial analysts point out that, at the time of receiving an income, in this case the half bonus, It is important to divide the budget into 3 parts:

  • 50% of the income can be used to buy MEP dollars and create an emergency fund.
  • 30% can be allocated to a Common Investment Fund or Fixed Term and, in this way, take advantage of extra money every month.
  • For the remaining 20%, it is recommended to allocate it to debts such as paying the credit card statement. Or, give it a good destination and use it for purchases that were postponed.

How to take advantage of the half bonus to become dollarized

For long-term investments or to protect against inflation, Buying dollars allows you to protect the value of the half bonus to convert it into savings and not devalue it.

Through an app on your cell phone and with one click, several financial institutions offer the access to MEP dollarfor amounts not so large or for more than USD 200 that the official exchange allows.

“The purchase of the MEP dollar is a viable alternative for those who wish to acquire foreign currency without a monthly purchase limit, in a safe environment”Explain Vanesa Di TrolioRetail Manager of the Reba financial platform.

And he adds: “By carrying out this operation, you are buying public securities in pesos and selling them in dollars. That is to say, when you sell the public security acquired in pesos, you obtain the value of the resold bond in dollars. Furthermore, this way you do not pay taxes, unlike when you buy solidarity dollars.”

Bonus: from a fixed term to digital financial platforms

At the same time, in Argentina, the popularity of fintechs increases every day because they allow daily returns to be generated through Common Investment Funds and are an alternative to traditional savings accounts, which do not generate interest.

This is a great investment alternative to avoid the devaluation of this extra income for the month and mitigate the loss of purchasing power and take advantage of this instrument to invest the money that will be used for short-term expenses, such as paying a debt or paying off the card,” says Di Trolio.

Lastly, the Fixed Terms are a viable option for those who want to invest for 30 days, an expense that they know they will have the following month and want to make sure they do not use this money in that period. For those who need to better control their expenses, this is a good alternative since the money is immobilized and at the end of that time the money invested plus the interest earned is returned to you. This instrument allows you to know in advance how much money you are going to earn depending on the amount invested and the period of time you choose, through a simulator.

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