Sociodemographic profiles of the saving and accredited population in Mexico, 2018

Abstract

Purpose: The study seeks to define sociodemographic profiles that identify people with formal and informal savings and those who apply for credit in Mexico.

Design/methodology: This is an exploratory study, cross-sectional and with secondary data from “Encuesta Nacional de Inclusión Financiera” (ENIF, 2018), a multiple correspondence analysis was estimated.

Results: The evidence shows that in the sociodemographic profile of the population with a savings or formal credit, men with higher education, with job stability, high income and who are entitled to receive medical care in institutions such as IMSS and ISSSTE stand out. While the population with informal savings or credit is made up by adults with little job stability and low income.

Implications: The social and labor characteristics of people with formal and informal savings/credit are of greater importance than individual aspects.

Limitations: The sociodemographic characteristics considered are limited and captured only a moment in time.

Originality/value: The research provides evidence on the sociodemographic characteristics of the population with formal and informal savings/credit, thus, contributing to enlighten the life-cycle trajectory and the decisions made for planned behavior in Mexico.