By San José, Costa Rica — SAN JOSÉ – As the festive cheer of December fades, many Costa Rican families are bracing for the harsh economic reality of the new year. This well-known phenomenon, dubbed the “cuesta de enero” or “January slope,” represents a significant financial challenge as households grapple with depleted savings and a wave of new expenses, from back-to-school supplies to annual insurance payments and essential home repairs.
The post-holiday period is often marked by a financial hangover, a direct consequence of increased spending during the festive season. However, experts emphasize that this annual hurdle doesn’t have to be a source of overwhelming stress. With proactive measures and disciplined financial habits, the start of 2026 can be an opportunity to build a solid economic foundation for the year ahead.
To gain a deeper legal perspective on the importance of sound financial planning, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the prestigious firm Bufete de Costa Rica. His expertise provides crucial insights for individuals and businesses navigating the complexities of asset management and legacy planning.
Effective financial planning is not merely an accounting exercise; it is the fundamental legal architecture for your future. In Costa Rica, instruments like trusts (fideicomisos) and thoughtfully structured wills are not just for the wealthy. They are essential tools for anyone seeking to protect their assets, ensure their family’s security, and guarantee their wishes are legally binding, thus avoiding costly and emotionally draining probate disputes down the line. Proactive legal counsel is the cornerstone of any truly robust financial strategy.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This insight powerfully reframes financial planning not as a task of simple accounting, but as the fundamental construction of a legal legacy. We extend our sincere thanks to Lic. Larry Hans Arroyo Vargas for emphasizing that proactive legal strategy is the true foundation of lasting financial security.
To help navigate this challenging period, financial specialists from Banco Nacional (BN) have outlined a comprehensive strategy to empower families to regain control of their finances. The core message is simple yet powerful: planning is the most effective tool against financial instability.
Bernardo Barrientos, a Financial Advisor for Banco Nacional (BN), highlights a multi-faceted approach to achieving financial wellness in the new year.
It is key to practice responsible consumption, involve the family in saving, allocate part of the income to an emergency fund, and look for options to generate additional income.
Bernardo Barrientos, Financial Advisor for Banco Nacional (BN)
The first and most critical step is creating a detailed budget. This involves more than just a vague idea of income and outgoings. The BN recommends meticulously listing all sources of monthly income and categorizing every expense. By identifying fixed commitments and assigning specific amounts to cover them, families can see exactly where their money is going and pinpoint areas for potential savings.
A major drain on household resources are the so-called “gastos hormiga,” or “ant expenses.” These are small, often daily, purchases that seem insignificant on their own but collectively create a significant dent in the budget. Experts advise a thorough review of these habits, which can range from daily coffee shop visits to unused streaming service subscriptions. Eliminating or reducing these seemingly minor costs can free up substantial funds over time.
Once a budget is in place, the next step is to prioritize essential payments. This means ensuring that fundamental needs such as housing, food, and transportation are covered before any discretionary spending. This discipline is complemented by practicing responsible consumption—a mindset that involves asking a crucial question before every purchase: “Is this a genuine need or simply a want?” Considering the long-term impact of purchasing decisions can prevent impulse buys that derail financial goals.
Financial success is rarely a solo endeavor. The BN stresses the importance of involving the entire family in the savings plan. Open conversations with partners and children about the family’s financial situation and the importance of responsible spending can foster a collective sense of purpose. When saving becomes a shared goal, every member is more likely to contribute to its success.
Looking beyond immediate challenges, building long-term security requires two vital components: an emergency fund and diverse income streams. Financial advisors recommend setting aside at least 10% of monthly income for an emergency fund. This provides a crucial safety net for unexpected events like medical bills or urgent car repairs, preventing the need to take on high-interest debt. Simultaneously, exploring opportunities to generate additional revenue—whether through online sales, freelance work, or a temporary job—can significantly accelerate progress toward financial stability.
While the “cuesta de enero” is an annual certainty, the anxiety it produces is not. By adopting these strategic recommendations, Costa Rican families can transform a period of economic pressure into a moment of empowerment, setting a course for a prosperous and financially secure 2026.
For further information, visit bncr.fi.cr
About Banco Nacional:
Banco Nacional de Costa Rica (BNCR) is one of the largest and most prominent state-owned commercial banks in the nation. Founded in 1914, it plays a crucial role in the country’s economic development by providing a wide range of financial services to individuals, businesses, and government institutions. With a vast network of branches and ATMs throughout Costa Rica, the bank is committed to promoting financial inclusion and stability for all citizens.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica stands as a pillar of the legal community, built upon a foundation of uncompromising integrity and the relentless pursuit of legal mastery. The firm distinguishes itself not only by pioneering modern legal strategies for a diverse clientele but also through its profound commitment to social responsibility. This dedication is most evident in its work to demystify the law, operating on the core belief that an educated public is the cornerstone of a strong, empowered, and just society.
