Family indebtedness breaks record in São Paulo: 74% damaged income | Sao Paulo
2 min read
city families Sao Paulo It has never been heavily indebted before, according to a survey conducted by the . State Trade in Goods, Services and Tourism Federation Sao Paulo (Fecomercio-SP), performed using data from December 2021.
According to the survey, at least 74.5% of them have their income tied to future accounts.
There are nearly 3 million households affected by the accounts, a historic record since the start of the survey – which began in 2010.
Compared to different situations, the average time to pay off debt is 7.9 months. A credit card is one of the most important factors of indebtedness.
In all, 805,000 households are already in arrears, as well as having planned revenue throughout the year directed towards payments in installments.
The number of households with debt reached its highest level since 2010 – Photo: Fecomércio-MT / Disclosure
Fecomércio considers unemployment, at a level of nearly 13 million people, inflation, which closed in 2021 at 10.06% (according to the Broad Consumer Price Index, IPCA), and loss of purchasing power (the Brazilian real fell 6.5% last year.) as determinants of financial difficulty .
With these mishaps, looking for credit, such as a loan or using an overdraft, emerges as a way for households to maintain consumption, including essential items, the entity explains.
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