The Wallet: How to take care of my finances in times of economic uncertainty?

TL;DR

High inflation reduces purchasing power, making it harder for salaries to stretch.
Increased interest rates by the Banco de la República make credit more expensive but boost returns on savings like CDTs and remunerated accounts.
An emergency fund covering 3-6 months of expenses is crucial for economic slowdowns or unemployment.
Diversifying income sources and maintaining low debt levels are important during uncertain times.
Devaluation of the Colombian peso increases the cost of imported goods and foreign currency-denominated debts.
Financial planning is essential to estimate the impact of tax reforms.
Maintaining a flexible budget, a solid reserve fund, prudent debt, and financial education are key to facing uncertainty.

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