Chilean financial literacy and medical cost concerns rise

Recent studies highlight significant financial vulnerabilities in Chile. Research from the Stefanini Group and the UC Public Policy Center indicates a gap between perceived and actual financial literacy. While Chileans self-rate their financial knowledge at a 3 out of 5, their actual score is 1.6, with only 10% seeking formal education on the subject.

Digital transformation is driving change, particularly among Generation Z, where digital wallet penetration is highest. However, this shift brings risks; data from Chiledeudas and Maat shows that debt among individuals aged 22 to 29 can multiply 33.1 times, posing a sustainability challenge for young digital adopters.

Additionally, a MetLife regional study reveals that 58% of Chileans fear receiving a medical diagnosis they cannot afford to treat. This is the highest level of concern among the three countries studied (Chile, Brazil, and Mexico). Other primary anxieties include becoming a financial burden to family members (48%) and economic dependency on others (46%). Only 29% of Chilean respondents feel well-prepared to face these major financial concerns.