Over fifteen thousand families reached out to DECO for assistance in covering their expenses during the initial half of the year.
In Portugal, managing debt among elderly individuals is a pressing concern, particularly in relation to essential expenses such as housing and food. A study indicates that health costs, following housing, are the second-largest monthly expense for families with more than 60 years [1].
The economic situation of Portugal, marked by high public debt and the impact of the 2010–2013 crisis, likely contributed to personal debt and financial instability for many, including the elderly [2]. Although Portugal's overall debt-to-GDP ratio is declining, personal debt burdens, especially among vulnerable populations like the elderly, may still pose challenges.
DECO (Associação Portuguesa para a Defesa do Consumidor), a significant Portuguese consumer protection organization, offers advice and assistance on consumer rights, debt management, and financial literacy [3]. For elderly individuals grappling with debt related to housing and food, DECO provides services such as negotiation support with creditors, guidance on budgeting, and information about legal rights in debt situations.
DECO can also help elderly consumers understand contracts, identify unfair terms, and seek solutions like payment plans that better fit their fixed incomes. This support is crucial in managing essential expenses without exacerbating debt problems.
In 2024, around 20 elderly people per day sought help from DECO, and in the first six months of 2025 alone, 15,000 families sought assistance due to over-indebtedness [1]. Almost a third of the total requests received by DECO last year were cases where people had to take out consumer or personal loans to cover expenses [4].
The main cause of over-indebtedness for the elderly families is housing and food expenses [5]. Loans, initially used for fulfilling dreams, have become a necessity for many elderly families to cover basic expenses, leading to a debt spiral that worsens quickly due to repeated loan taking [6].
Although specific statistical data about the extent and management of elderly debt in Portugal or detailed programs from DECO on elderly debt management were not directly available, it is established that consumer protection organizations like DECO play a critical role in assisting vulnerable consumers, including the elderly, with financial and legal advice to manage debt, especially for essential expenditure areas such as housing and food.
For more quantitative insights on elderly debt levels and outcomes of such assistance programs, further detailed studies or reports from Portuguese social services or DECO itself might be required. In summary, DECO's assistance is vital in helping elderly individuals in Portugal navigate and manage their financial difficulties effectively.
References: [1] [Source1] [2] [Source2] [3] [Source3] [4] [Source4] [5] [Source5] [6] [Source6]
- Health costs, following housing, are another significant expense for elderly families in Portugal, ranking third after essential expenses such as housing and food.
- To help manage debt and prioritize essential expenses, DECO advises elderly individuals on budgeting strategies and debt management.
- Apart from debt management, DECO provides assistance in negotiating with creditors, understanding contracts, and identifying unfair terms, which can alleviate debt problems associated with housing and food expenses.
- The high prevalence of over-indebtedness among elderly families in Portugal indicates a potential need for more comprehensive financial literacy programs, perhaps focusing on budgeting and debt management within the context of health-and-wellness and mens- and womens-health.
- As Portugal's elderly population continues to grow,, it is crucial to implement personal-finance education programs and policies that address debt management concerns in both health-and-wellness and personal-finance sectors.
