Survey finds 34% of Argentines cannot cover monthly expenses
Brain Network's September survey found another 45% only just managed to meet their expenses, while credit cards helped cover shortfalls.
A September survey by consultancy Brain Network found that 34% of Argentines lacked enough money to meet their monthly expenses, while 45% managed to do so only narrowly. Among respondents struggling with payments, 40% relied on credit cards to bridge the gap.
Credit card ownership stood at 79% among respondents. Other ways of coping with payment difficulties included reducing spending, reported by 31%; seeking money from relatives or friends, 23%; postponing payments, 17%; and obtaining loans, 16%, according to the survey.
Repayment problems over the past six months affected 60% of respondents who owed banks and 65% who owed digital finance platforms. Among people behind on payments, 45% said they had received no refinancing offer. Brain Network's Lionel Holzman urged lenders to offer refinancing before borrowers' circumstances deteriorated.
The survey also asked respondents about their financial outlook. An improvement next year was expected by 44%, while 36% anticipated no change and 20% expected their circumstances to worsen.
