Spending and lending: New Year rings in economic challenges
By Jesús Ibarra January 18, 2008 San Miguel de Allende

Many people begin the New Year in debt, having spent a lot of money during the holidays. The costs of Christmas parties, posadas, presents and Christmas and New Year’s dinners all add up. On January 6, Three Kings Day, parents buy presents for their children.

And more expenses come during January: aside from property and vehicle taxes, prices for goods and services often increase. Most people have already spent all their aguinaldo (the yearly bonus paid in December), and they have to take out loans to pay their debts. In Mexico, this time of year is known as cuesta de enero (January price hike).
 
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Que Pasa Que Pasa is the most complete weekly guide to arts and entertainment in San Miguel de Allende.