A new report from Kantar says 69% of Brazilian homes ended 2022 with debt.
The study also found that 73% of Brazilians changed how they spend money to cover bills in early 2023.
The survey talked to 4,915 homes from October to November 2022. About one-third of people said their salary barely covers monthly bills.
Most money went to buying things like food, drinks, and cleaning supplies. The cost of cleaning supplies went up by 15% from last year.
Younger people felt the money crunch more. In homes with people up to 29, 37% struggled to pay fixed bills. For homes with people over 50, that number was 29%.
Debt went up everywhere in Brazil since last year. On average, people earned R$ 1,614 but spent R$ 2,042 each month.
São Paulo had the highest debt level, and the South had the lowest.
Spending on pets is still rising. Middle-class families spent more on pet food. Lower-income families spent more on vet care and pet hygiene.
Money spent on the internet and streaming is going up. Spending on cable TV decreased from 23% in 2021 to 17% in 2022.
At the same time, spending on streaming services grew by 23%.
Brazil’s economy has been shaky for years, impacting family finances. The COVID-19 pandemic made this even worse by causing job losses.
The government has tried various methods to boost the economy but with limited success. High inflation is another big issue that’s affecting daily life for Brazilians.
These economic challenges make it hard for people to cover basic costs, adding to the country’s debt problem.