Mapping the Financial Well-Being of Brazilians: Socioeconomic and Demographic Variables in Focus

Abstract

Enhancing financial well-being has been a challenge for countries, especially due to its positive impacts on economic growth, quality of life, and the physical and mental health of citizens. This article’s main objective is to estimate the level of perceived financial well-being in the Brazilian population and investigate how socioeconomic and demographic variables influence this perception. Using a scale adapted for emerging countries, this study employed a large sample of 3,998 participants, covering all five regions of Brazil. The results reveal that a significant portion of the Brazilian population presents a level of perceived financial well-being below the ideal, reflecting a concerning financial insecurity that affects more than 60% of the respondents. Additionally, it was observed that certain groups, such as young people, black and brown individuals, members of the lower socioeconomic classes, with educational levels up to completed elementary school, and self-employed workers, are particularly vulnerable. These findings point to the need for more targeted attention from society and government agencies to mitigate disparities and promote the financial well-being of all strata of the Brazilian population.