According to a study by FecomercioSP, approximately 3.1 million families in São Paulo began February 2023 with some form of debt, which represents 70% of families in the city. This marks an increase from January, when the debt stood at 68.9%, the lowest percentage in nearly a year after three consecutive months of decline. The uptick in indebtedness has been primarily attributed to the typical expenses households face at the start of the year, such as property taxes (IPTU), vehicle taxes (IPVA), and school materials, which disrupt family budgets.

FecomercioSP suggests that while the increase in debt levels is noteworthy, it could be seen as a normal reaction to the financial obligations that typically arise in the early months of the year. They note that the rise is not extraordinarily high and indicate that many households might be experiencing temporary budgeting challenges rather than a severe financial crisis. The data illustrates how seasonal expenses can impact household finances in a pronounced manner, emphasizing the importance of financial planning to mitigate these unexpected financial burdens.

Among different salary brackets, families earning up to ten minimum wages are most affected by debt, with figures rising from 72.8% in January to 73.5% in February. This demographic faces greater financial strain as their disposable income is often smaller, making them more susceptible to fluctuations in expenditure from unexpected bills. The continuing rise in indebtedness within this group raises concerns about their long-term financial stability and spending capacity in the economy.