The easiest way to cover those expenses is to schedule savings in advance, and make every month the same, that is to say, if you need a set amount of money for Christmas gifts, then that amount is divided into equal installments for each month. Only then will you not need to cut spending to a minimum or worry about not being able to keep up with the gift list and other things.

Elizabeth Sanchez, personal finance expert and host of the program Cuentas Claras on Mastercard's YouTube channel, explains in an easy to understand way, how to organize ourselves with the savings programmed to meet all the expenses for special dates, vacations, school tuition, among others.

Sanchez's recommendation is to make a list of expenses, then look at how much time you have left to start saving for Christmas and school tuition expenses. Finally, divide the amount to be saved by the number of months remaining, only then will you have clarity on how much to save monthly and this will allow you to meet the scheduled expenses.

In episode 17 of Cuentas Claras we tell you all the steps to be able to organize your money and be ready for any eventuality with the programmed savings. You can watch this and more episodes on Mastercard's YouTube channel.