Referred to as the cuesta de enero or “steep hill of January”, the beginning of the year is associated with financial difficulties for some who spend too much during the holidays.
One chain of pawn shops, Casa de Empeños La Cueva is preparing its 100 employees at seven locations for the rush of people expected to sell their Christmas gifts, electronics and gold jewelry in order to meet their need for immediate cash. The company charges a monthly interest of 5 percent on items above 100 thousand colones and 10 percent for items with a lesser value.