A majority of Latinos say they have trouble covering monthly expenses, and almost 40% say they would have trouble finding $2,000 in an emergency, a new study said.
Despite attaining higher education levels in recent decades, many Latinos find themselves in a "fragile financial state," according to the study released Monday by the TIAA-CREF Institute, the research arm of the New York investment giant.
The report draws on data from the vast 2012 National Financial Capability Study, a national survey of 25,000 American adults, and examines in detail...
- Author: Mass Mutual Financial Group
A new survey from Massachusetts Mutual Life Insurance Company found that compared to the rest of the population, Hispanics are working harder to secure their financial futures. In every way measured in this research, Hispanics are more invested in their own financial future than the general population. The study found that 65 percent of the general population reported that they leave their financial well-being up to chance. U.S. Hispanics, however, leave less to chance (61 percent). The research seeks to shed light on how prepared U.S. Hispanics are for their financial future vs. all...
- Author: MarketingCharts.com
Latinos are generally optimistic about the direction the country is taking in health care, equal opportunity and jobs, but they also feel that Latino discrimination is getting worse (36%) rather than better (22%), according to a survey conducted by Latino Decisions for the W.K. Kellogg Foundation. The study also finds broad optimism about economic opportunities that lie ahead, but that many Latino families are living in a state of economic fragility. In fact, 53% reported that they'd be unable to draw on a loan from family or friends should they fall upon tough economic times, and 53% could not secure a bank...
- Author: National Council of La Raza
National Council of La Raza (NCLR ) released a report entitled “Latino Financial Access and Inclusion in California.” The report’s findings were based on an NCLR survey of over 1,000 California Latinos, focusing on levels of financial engagement.
Latinos continue to be among the most unbanked ethnic minorities in the United States. The report highlights the challenges confronted by the unemployed, differences in financial engagement by citizenship status and the use of bank technology by participants.
The report found an important link between naturalization...
- Author: NBCLatino, by Sandra Lilley
For many Latino families, average household incomes in the past decade have gone down. Hispanics lost 66 percent of their household wealth following the Great Recession, and unemployment has been high among Latinos. This has resulted in two things. Households have reduced spending, but for big expenditures like mortgages, automobiles and higher education, families have to take on additional debt.
Yet in the area of student loans, and even more so with auto loans, Latino families are still being steered in many cases toward riskier and even predatory loans, according to a new report from the