Brazilian families are more indebted

By: Toro Radar
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Sao Paulo - São Paulo - Brazil

SAO PAULO, Brazil - Oct. 12, 2017 - PRLog -- The Brazilian economy has suffered a strong crash in recent years and the consequences of the downturn still cause problems at national level. A proof of it is a survey that revealed that most Brazilian families are behind schedule with their bills.

According to the study, conducted by the National Confederation of Trade, Services and Tourism (CNC), the percentage of indebted households has exceeded the 58% mark in September 2017. In comparison with the previous month, August , the value increased 0.4%.

Another survey, within the same theme, also brought alarming data. According to a survey conducted by the country's Credit Protection Service (SPC Brazil), the number of people who are unsure about how much they owe is significant.

The study found that, among those interviewed, about half said they had little or no control at all over their own finances. This means a percentage of 47% of participants admitting that they did not consider financial planning a priority. In addition, 41% of people have assumed that they do not know exactly how much they spend monthly with the essential bills.

Regarding credit card spending, the survey showed that almost 60% of respondents are not sure how much they owe and what products were purchased recently with the card. In addition, 55% of them admitted not knowing exactly how much was paid for each merchandise and 40% did not know how many parcels  there are until the end of the debt.

Thus, the last question posed by the researchers did not bring great surprises. About a third of the participants, or 35% of them, said they frequently do not end the month with all the bills paid.

The studies cited confirm a panorama that has occurred all over Brazil: the level of indebtedness is directly linked to the rise in unemployment and the fall in family income. As a consequence of the recent political and economic crisis, Brazilians have faced great challenges to eliminate all debts and to have a positive balance at the end of the month.

In addition, another factor contributing to this negative scenario is the lack of financial control. The habit of economizing and controlling finances should be encouraged since childhood, but it is still not widespread in Brazil. In this way, more and more Brazilians are seeing themselves in a situation of indebtedness and overdue.

To learn more about saving accounts in Brazil, visit:

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Tags:Money, Family, Debt
Location:Sao Paulo - São Paulo - Brazil
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