The debts They are the main financial problem that Mexicans suffer to face the January cost, which in this 2022 will be the hardest in two decades, revealed the study «Cuesta dejanuario 2022» of Yotepresto.com, personal loan platform.
24.6% of the mexicans He stated that debts represent his main conflict to deal with the financial problems at the beginning of the year, aggravated by the general increase in prices in the country.
According to data from the National Consumer Price Index (INPC) of the National Institute of Statistics and Geography (Inegi), the annual inflation rate in 2021 was 7.36%, the highest in 21 years.
One consequence of this price increase is the rise in the Bank of Mexico’s reference rate from 4 to 5.5% over the previous year, indirectly generating an increase in credit costs and, therefore, in the increase in debts if bank accounts are not paid on time.
To deal with debts consolidation is an ideal financial tool for people with good credit history. Consolidating a debt will help lower the payment of bank interest and unify several existing debts into one, with the aim that the person saves on the payment of their financial pending and has extra money to face the cost of January.
In six years of operations, Yotepresto.com has placed 1,425 million pesos in loans. Seven out of every 10 pesos delivered are used to consolidate debts.
The lack of savings is another financial obstacle for Mexicans. 24.4% said that they do not have money saved to face the current cost of January, according to the Yotepresto.com study. To face current inflation, Mexicans will take measures such as seeking extra income (36.2%), investing (24.4%), saving (21.4%) or reducing expenses (14.3%).
On average, seven out of 10 surveyed by Yotepresto.com state that the slope of January 2022 will be the same or more complicated than last year. “The beginning of the year is a difficult time for most Mexicans, since prices are on the rise and it is time to pay taxes and services”, reads the study prepared by the Jalisco company.
The full investigation is at this link.