Q COSTARICA — The results of the Third National Debt Survey 2025, prepared by the Oficina del Consumidor Financiero (OCF) – Financial Consumer Office, show that Costa Ricans are typically allocating less money each month to debt payments, although the burden remains high for many households.
In this edition, people reported that they allocate an average of 34% of their monthly income to debt payments, a decrease from the 38% recorded in 2023 and significantly lower than the 52% measured in 2020, when this study was first conducted. This decrease suggests a moderation in credit use or a more prudent management of personal finances, following years of high economic pressure.
The survey, conducted by telephone between July 3 and 29, 2025, among 1,200 people between the ages of 18 and 70, represents the third national snapshot of people’s debt, their financial goals, and their resilience. Its coverage is national, and the results are representative of an estimated population of 3.6 million adults, with a margin of error of 2.8% at a 95% confidence level.
The data also reflect that 87% of people have some type of debt, a figure very similar to the 91% reported in 2023, which in many cases involves small obligations. The reduction is concentrated among young people and those outside the labor force, which could indicate greater caution in accessing credit or greater restrictions on obtaining it in the formal financial system.
This time, there is a change in the most common type of credit, as the number of people reporting having vehicle loans increased (47% in 2025 versus 18% in 2023), while debts with informal lenders, family members, or friends decreased, from 47% in 2023 to 25% this year. The proportion of debts with appliance companies, cooperatives, and solidarity associations also decreased (from 35% to 22%).
For Danilo Montero, general director of the OCF, the results show that the country could be moving toward a more rational stage of financial adjustment, although with persistent challenges in terms of financial inclusion.
“Indebtedness is a reflection of how families deal with their aspirations, unexpected events, and limitations. When a reduction is observed, as we see in this survey, it doesn’t necessarily mean that people have more disposable income; it may be the result of greater awareness of the risks of over-indebtedness, or more prudent access to credit, because incomes are unstable. In other words, it may be a change in financial behavior rather than an economic improvement,” Montero noted.
The survey analysis shows that people aged 35 and over tend to show higher levels of commitment to debt repayment, a situation that intensifies in the 55-70 age group, who allocate an average of 36.8% of their monthly income to loan payments. In contrast, younger people (18-24 years old) show a much lower commitment, at 14.7%.
Debt also increases among those who own their own business (43.3% versus the national average of 34%), those who are heads of household (36.4%), and those with less education (41.4%). More importantly, the debt burden is heaviest among those earning less than ¢500,000 colones per month, who spend an average of 58.3% of their income.
Although only 18% of the population says they finance their debt with a credit card, this method and vehicle loans are the most common types of debt among people who spend more than 33% of their monthly income on them. Although the majority of households manage to cover their expenses regularly (60%), one in three faces months when money doesn’t come in on time, forcing them to take on debt.
While the results point to a slight decrease in national debt, this should not be interpreted as a reassuring scenario.
“Although we are seeing some improvement in households’ relationship with credit, there is still a segment of the population that is highly vulnerable to any change in income. The financial stability of many families continues to depend on their paychecks arriving on time and keeping their expenses under control. Therefore, financial education and responsible use of credit must remain priorities,” Montero concluded.
The Encuesta Nacional de Endeudamiento 2025 (National Debt Survey) is part of the OCF’s commitment to monitoring the economic health of citizens and generating useful information for personal, business, and public policy decision-making.
In the coming months, the OCF will continue to provide a comprehensive and comprehensive survey of the financial services sector.