Clipping of news on Brazilian Culture, Law and Citizenship
11.24.2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Search SPC Brazil reveals that four out of ten defaulters have little or no knowledge of the value of basic accounts of the month and 41% do not know how to count to find out if a promotion is advantageous
A survey by the Credit Protection Service (SPC Brazil) and the National Confederation of Shopkeepers (CNDL) made only with delinquent consumers, in all capitals, reveals that many of them have little or no knowledge about your budget. According to the survey, nearly half (47%) of respondents recognizes know little or nothing about the income available for the next month. And even though in arrears for over 90 days, 53% of consumers surveyed are not sure which expenses will have to cut staff to rebalance the budget. The default behavior is standard practice among respondents: 33% of consumers listen ensure close the month in the red, always or most of the time.
Defaulters know little or nothing about the value of basic accounts
The study also reveals that four in ten (42%) respondents admit they know little or nothing about the value of their basic bills the following month, and this proportion increases among lower educated: 49% for those with no more than elementary school .
Ignorance also covers purchases made on the credit card. Among the defaulters ears consumers, 46% are unaware of or know little about the total value of purchases made recently on the card, 47% are not sure which products and services were purchased on credit card and 48% admit to having little or no knowledge about the number of parcels on which divided their last minute shopping. "The ignorance in relation to spending on credit cards is worrying because that type of credit usually offer higher interest rates, averaging over 400% per year, and may pose a serious risk to consumer finances," explains chief economist at SPC Brazil, Marcela Kawauti.
41% of defaulters know not recognize good deals
To identify the degree of financial ability of defaulting consumers, the SPC Brazil presented some shopping simulations respondents and concluded that many consumers have trouble making simple accounts or realize the most advantageous option of an offer. In one of the simulations was attested that 41% of respondents did not realize that, for a product that costs R$ 100, a discount of 15% is more advantageous than shell out R$ 90 in cash or pay three installments of R$ 33.
"Many consumers they see the promotion as an opportunity that can not be missed and end up leaving aside the math to find out if it really is advantageous. Furthermore, instead of reflecting on the real need to purchase a product, are driven by the appeal of marketing around promotions, and so end up behaving impulsively and often up regretting the purchase soon after, "says financial educator José Vignoli.
The moment held their last purchase, considering a scale of zero to seven, where the closer to seven consumers more happy or satisfied were, 79% of respondents tended to the feeling of joy and satisfaction to 72%. However, these perceptions decreased to 56% and 57%, respectively, 30 days after purchase of the product. "The act of buying may cause feeling of well being, euphoria and even relaxation, which ultimately inducing consumers to act on impulse and buy without promotions before," says Vignoli.
"The default is not the result only of a lack of skill with numbers, but also a consequence of the impulsive consumption and reckless behavior of consumers at the time of the purchases and the lack of control of your spending and expenses," added Marcela Kawauti.
Methodology
To investigate the level of knowledge of defaulting consumers about their personal budget and the level of financial skills, the SPC Brazil (Protection Service Credit) and CNDL (National Confederation of Shopkeepers (CNDL) heard personally 600 consumers of both genres and from all economic classes and over 18 years in 27 capitals. They are considered delinquent consumers who reported having at least one account with the late payment for more than 90 days. The margin of error is at most 4.0 percentage points with a margin of confidence of 95%. This means that in 100 surveys with the same methodology, the results will be within the margin of error in 95 occasions.
Source: SPC Brazil
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This article was translated by an automatic translation system, and was therefore not reviewed by people.