A survey launched by Loanlite in major newspapers in the country is revealing what is the financial profile of the Brazilian. Considering the money left in the budget and what is in debt, 54% fall into what we call “in trouble”, 34% are on edge, 9% are savers and only 3% are investors.
Do you remember what the characteristics of each of these profiles are? See below in the “Identify Your Financial Profile” Infographic:
Analyzing the doubts of the MoneyMind users in the Brazilian context we live in today, we raise four questions that harm the pocket of the Brazilian and increase the people who are “in trouble”:
Who never dreamed of owning a property or a car? With the privileged scenario of the Brazilian economy in recent years, many Brazilians have risen in the economic class and started to consume. As a factor in this consumption, financial institutions facilitated access to credit by financing cars and homes with very long terms and without the need for large inflows. Given this, many consumers, on the one hand, were struck by the ease of purchasing these goods, on the other hand began to get complicated financially, as they could not plan properly for these large purchases.
And when it comes to installment purchases, how can you deny the attractive proposals to buy at 10X without interest? Difficult, isn’t it? What is noticeable is that Brazilians who fumbled with this type of purchase are learning, of course, due to two main reasons:
1) The accumulation of so many installments generates a vicious cycle, where at the moment you have just paid for a product, you still have a dozen others to pay.
2) The arrears, fines and interest generated by the lack of organization of payments, end up bringing so many expenses to the consumer, sometimes paying the price of up to 3 products. Thus, for those who are struggling to manage installment purchases, GuildBayment’s financial planner Luis Krampel gives the following tip: “Whenever possible, set the best due date. The idea is to always put your bills to be paid soon after you receive your salary. This way, you will have a better idea of how much you have to spend without the risk of reaching the end of the month. have to use the overdraft to settle any questions. “
For any consumer who wants to use some type of bank credit it is essential that they have two clear ideas: 1) “The higher the interest rate the more expensive it will become”. 2) “For every product you wish for finance, there is the most suitable credit to buy”. Keeping these simple points in mind, you will hardly make common mistakes, such as making a makeover using the credit card, or paying the bill card using the overdraft. In addition to these mistakes, many consumers use the overdraft limit as part of their salary, make use of the credit card without any control, and have the illusion that they actually have this money. To this end, Luis comments that: “Before making use of any credit that the bank offers, it is important to be aware that as much as you can buy the products you want, it does not mean that you will have enough money to pay their payments. Therefore, having simple attitudes such as planning purchases, saving and paying will be strong allies for a financial life without scares. “
As we have seen in the survey, most of them have in the way of saving part of their salary. But when it comes to avoiding getting new debt, being prepared for unforeseen events, or even becoming an investor, creating a financial reserve is essential. The idea is basically to save 3 to 6 months of monthly spending to protect against any unexpected expenses that might get in the way of your plans. So if you spend $ 800 per month, the idea is to have a reserve of $ 2400 to $ 4800. Do you think so much? Rest assured, don’t let this big sum intimidate your goal. Think of a first step, maybe $ 500 will be enough to cover most of the costs of a possible emergency. Gradually add a portion of your salary to achieve this goal. Start with $ 25 / month, go up to $ 50 a second, and so on.