Clipping of news on Brazilian Culture, Law and Citizenship
 


Debts

Middle class: a growing category of debt

26/08/2013

This article was translated by an automatic translation system, and was therefore not reviewed by people.

 



transparent image



The middle class is growing in the country, but the new situation of purchasing power of emerging consumers is creating an alarming situation: over-indebtedness. A survey by the GuiaBolso.com platform that assists in financial management, confirms the lack of experience of the new middle-class consumers with new financial elements, such as credit.

"Official figures indicate that about 35 million Brazilians entered the middle class in the last ten years, with great access to credit, but without the accompaniment of an effective financial education for them," said Thiago Alvarez, a former McKinsey consultant and co-founder the GuiaBolso.com.
 
Another statistic shows that 31% of the members of the class C spend everything they get, without creating a reservation that could occur in unexpected cases such as unemployment or illness in the family. "These are people potentially subject to acquiring debt," said Alvarez. Only 15% of users of the class C have some sort of savings, while only 2% are actually investors with financial reserves exceeding three months salary.
 
However, in classes A and B the numbers are not much different, with 49% of users with debts that jeopardize a value greater than one-third of the monthly income, while another 28% spend all they receive. On the other hand, the Class A and B have a higher percentage of savers and investors, 16% and 7%. "The increase in inflation in recent times just by raising the cost of living of this people, reducing or even eliminating the monthly reserve they had," explains Benjamin Gleason, an American who lives five years ago in Brazil, a former director of grupon and co-founder of GuiaBolso.com.
  
The proportion of users who really stands out is formed by the classes D, E and F. Even with the lower income, only 36% of them have debts of more than a third of the monthly income, while 41% spend all they receive monthly. Furthermore, 21% already get a monthly savings to start a small savings.
  
Considering the entire base, 55% of users are "in trouble", ie constantly undergo lack of money and need to pay off debts more than a third of their income, while 33% are "on the edge", spending all they receive.

Another survey, released in June by Serasa Experian, revealed that seven out of ten Brazilians do not usually save. Besides not having the habit of saving money for some project or unforeseen, the study reveals that half of Brazilians are unaware of the advantages of saving. The research it can be concluded that the lack of interest in applying amounts in savings has the ignorance that causes financial system - not just the lack of capital.

Discover your financial profile

To determine the actual financial profile and identify whether or not among indebted consumers should review your income, monthly expenses, debts and installments already assumed. The profiles (and the paths indicated) by the Guide are:

Profile: In trouble and The Edge

Consistently missing money at the end of the month and she must take on more debt to pay the bills. The borderline spends almost all gains and comes into debt

What should you do?

Turn a "negotiator": along with every family, review the entire monthly budget and do not be afraid to make tough decisions, like selling some assets and cut many expenses. With new budget in hand, to renegotiate the debt with all financial institutions. Adopt a "controlled": predict a surplus in the budget monthly non-negotiable. This value will be saved must be mentally treated as a debt or an account that pays very important at the beginning of each month. To spare the money, a review of the budget will be required.

Profile: Saver

Can you save money, but still failed to assemble a financial reserve safety

What should you do?

The main reason is the default job loss or illness. Therefore, it is important to set aside money for this type of situation. In general this reserve should be sufficient to cover 3-6 months without work and stay applied for investments with low risk.

Profile: Investor

Already have a financial reserve that allows you to stay at least three months without salary and constantly applies more money on their investments

What to do?

It's amazing how even investors spend much money for nothing. A quick review of the budget can bring interesting opportunities.
The investment side, this stage now makes sense to start diversifying the portfolio a bit more, given the reserves already accumulated financial security.


Source: UOL - Modern Consumer

Our news are taken in full from our partner sites. For this reason, we can not change the contents of the same even in cases of typos.

This article was translated by an automatic translation system, and was therefore not reviewed by people.

Important:
The JurisWay site does not interfere in the work provided by doctrine, why only reflect the opinions, ideas and concepts of their authors.


  Subjects list
 
  Copyright (c) 2006-2009. JurisWay - All rights reserved.