Avoid Informal Savings

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It can be apparently “easy”, be useful at times and even get you out of trouble; But beware, any unforeseen or misunderstood can cause you to lose your money. Entering the famous “tandas”, pyramids, to save your savings under the mattress, can put at risk your economy and your family.


Informal savings

Informal savings

  • Savings at home and the use of batches are the two mechanisms most used by informal savers (28% and 14% respectively).
  • 44% (31 million) of the adult population saves in the informal market.
  • 29% of women use the savings at home and 16% the batches in greater proportion than men, while 10% of them use the loan to a large extent among individuals.
  • Informal savings are used for the same uses as formal savings; however, for the informal, personal expenses occupy the first place (38%), followed by emergencies or incidentals (27%) and education or health (23%).
  • Household savings is the only mechanism of informal savings that is greater in the smaller localities (31%) than in those with 15 thousand inhabitants and more (27%).
  • The use of informal savings for the increase of family assets, such as investing in a house or business, is relatively small (14% and 4% respectively).
  • Regarding formal savings, 36% (25 million) adults claim to have at least one product.


The problem of informal savings is that it entails risks, for example:

The problem of informal savings is that it entails risks, for example:

  1. In case of a round, who organizes it can keep the money and not distribute it.
  2. If you keep your money at home, someone can enter and steal it.
  3. In a fire or flood, you can lose it, among others.


Is it possible to save?

save money

  • Look carefully: If you save a daily weight it becomes 30 pesos a month and 365 a year. But if you save 10 pesos a day you will have 300 pesos per month and 3 thousand 650 per year. IMAGINE IN 30 YEARS!
  • Banks offer different savings options, so you can choose the one that best suits your needs. Do not waste the effort and think now how to save those savings.
  • Remember that by doing so in Financial Institutions, the Condusef can guide you and also defend your rights.


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