Brazilians’ financial health index average rose to 56.7 points in 2024, the highest score in the past three years (an increase of 0.5 points compared to 2023).
This data comes from the fourth survey round calculating the Brazilian Financial Health Index (I-SFB).
The Brazilian Federation of Banks (Febraban) developed the index with technical support from Banco Central do Brasil (BCB).
Citizens can use the I-SFB homepage to calculate their index for free.
The I-SFB, the country’s most comprehensive survey on this subject, interviewed 4,911 Brazilians, covering “different socio-economic strata and allowing for segmented readings.”
The index is calculated on a scale of “0 to 100 points based” on answers to questions about financial health. It indicates Brazilians’ financial health level in “seven ranges: bad, very bad, low, ok, good, very good, and excellent.”
According to the 2024 survey, the three worst ranges of financial health (‘low’, ‘very low’, and ‘bad’) decreased overall “by one percentage point (p.p.). The other bands outside the risk zone increased by one p.p., indicating an overall improvement in Brazilians‘ financial health.”
Highlights from the 2024 I-SFB Survey:
- Less financial strain: 48.5% say they are experiencing some financial strain (-1.4 p.p. from 2023).
- Less difficulty paying bills: 40.9% say they have some difficulty paying bills (-2.2 p.p. compared to 2023).
- Less pressure on the budget: 32.8% say their expenses are higher than their income (-0.5 p.p. compared to 2023).
- More money left over at the end of the month: 58.6% admit that they often have money left over (+1.3 p.p. compared to 2023).
- Better financial control: 48.7% say they know how to control their spending (+2.3 p.p. compared to 2023).
- More information: 47.3% know how to get the information they need to make informed financial decisions (+2.3 p.p. compared to 2023).
- More knowledge: 35.7% feel able to recognize a good investment (+2.7 p.p. compared to 2023).
While the I-SFB has improved, some results show “that financial education can further enhance this favorable moment.”
For example, 32.4% of respondents said they “could handle a large, unexpected expense, the same result as in 2023.”
Additionally, 67.2% feel some “degree of insecurity about their financial future, and 35.4% say that the way they manage their money allows them to enjoy life more.”
“Meu Bolso em Dia” Platform
The “Meu Bolso em Dia” financial education platform, another partnership between the BCB and Febraban, “personalizes the learning path available to its users by using their I-SFB. This way, citizens can learn about personal finance according to their individual needs.”
Index
The I-SFB survey has been conducted periodically “since 2021 and serves several objectives.”
One is to act as a diagnostic tool that allows Brazilians to measure their financial health “over time, compare it with the national average, and identify vulnerabilities that need to be addressed with financial education initiatives.”
The I-SFB aims to provide decision-makers with information to help them create and “implement public policies and private actions” in favor of financial education and well-being.
