Debt suffocates families: Record figure

Do you feel like your debt is constantly growing? You're not alone. Household debt in Mexico reached a record high in May 2025, with an annual increase of 12.3%. The average amount per household is alarming: 40,749 pesos, according to data from the Bank of Mexico.

A silent crisis is brewing in Mexican households. Beyond the major macroeconomic indicators, one figure reveals the fragile financial reality of millions of people: household debt has reached an all-time high. During May 2025, the total debt balance of Mexican households grew by 12.3% compared to the same month the previous year, a growth rate that raises alarm among specialists.

The most striking and personal figure is the average household debt in the country: 40,749 pesos. This figure, reported by the Bank of Mexico, is not only high, but also represents a 15.3% increase in just one year.

To put this figure into perspective, it's equivalent to more than five months of the current minimum wage. It's a financial burden that reflects the growing pressure on families' pockets to cover their expenses and aspirations in a challenging economic environment.

Contrary to the belief that debt is generated solely by basic expenses, the Bank of Mexico's analysis reveals a more complex story. The main driver of this record debt is credit for housing and the purchase of durable consumer goods, such as appliances, furniture, and automobiles.

This suggests that families are not only going into debt to make ends meet, but also to maintain or achieve a middle-class lifestyle. Credit has become the tool for acquiring wealth or replacing essential goods that, with stagnant wages, would otherwise be unattainable. This is the aspiration trap: using the money of the future to sustain the present.

Various economic factors converge to create this "perfect storm." Persistent inflation on basic goods reduces purchasing power, while wage increases are often insufficient to offset rising prices and the cost of living, especially in large cities.

> "We are seeing the reflection of an economy where current income is not enough. Families are turning to credit not as an investment option, but as an extension of their salary to survive and meet social expectations of consumption." – (Statement attributed to a financial analyst).

Behind the numbers are human stories. They are those of young couples who sign 30-year mortgages to own their own homes. They are those of heads of household who use credit cards to cover an unexpected medical emergency. They are those of workers who purchase a vehicle on credit because it's the only way to get to work. They are millions of Mexicans who, month after month, see a significant portion of their hard work go toward paying interest.

Record household debt is not a problem of individual mismanagement, but a profound social phenomenon that exposes the cracks in the economic model. It raises a fundamental question about the future: are we building genuine prosperity or an illusion based on a house of cards of debt?