One in four Brazilians cannot pay bills; 16% sell to pay off debts - EZFICE

One in four Brazilians cannot pay bills; 16% sell to pay off debt

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One in four Brazilians cannot pay their bills on time. At least that's what a recent survey released by the Confederation of National Industry (CNI) points out. Budgets have become tighter as inflation exacerbates unemployment and lowers household incomes.

The survey also showed that even workers who were able to pay their bills on time were living in dire straits, mainly because there was nothing left to save. This is the reality of seven out of 10 people who participated in the survey.

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Paying bills on time is more difficult

To make ends meet, many families have completely cut out the minimum necessary expenses. For example: leisure. In fact, even the purchase of personal items such as clothes and shoes is excluded. According to the relevant survey, this is the reality for 58% of respondents.

Still others have to make more difficult choices because it's difficult to pay for all the porcini. Data collected by the CNI showed that 25% of Brazilians responded that they reduced or stopped buying medicines, while another 19% — among those who stopped buying — stopped paying for their health plan.

Paying rent and paying in installments for the property also entered the debt list of at least 14% of Brazilians. Another 16% said they sold assets to pay off all debts.

While the results point to real difficulties for many Brazilian families, the CNI survey brings more optimistic expectations. The majority of respondents, around 56% of them, believe that their financial situation will improve by December.

The improvement in the forecast is the result of the resumption of job opportunities, followed by the fall in unemployment and the increase in family income. The CNI survey was based on the opinion of 2.008 Brazilians from states across the country. Data collection took place between the 23rd and 26th of July.