Financial inclusion in Mexico ¿Where we are? A theoretical reflection

Abstract

Looking into Mexico’s situation regarding financial inclusion, we find there is a lot to do. Financial inclusion should be a more inclusive and important concept and turn into a global agenda. Therefore, financial inclusion is defined as the access and use of financial services under an appropriate regulation that guarantees protection schemes for consumers and promotes financial education in order to improve financial capabilities in all population segments. During the investigation to approach the concepts of access, use, protection and defense of consumers as well as financial education. It is concluded that the financial inclusion topic not only refers to the number of people linked to the financial system through savings and credit, but also to the efficient access to payment systems and tools. This topic is defined as the ease of access to the range of financial products and services, that allow people to effectively manage their money, regardless of their income level or social status. The importance of implementing this inclusion process is the cost implied by not being prepared for a healthy financial life; the less knowledge one has, the greater the debt incurred, and the quality of life is affected. Heightening, in this way, the economic differences in the population and forcing the policies sought for by the government to compensate for the damage caused by disinformation.