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tony

Stop Putting Money Under The Mattress

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Being an immigrant myself, I can relate to this article.  As a growing demographic, the second /third generation better-assimilated Latino population will soon be targeted by financial advisors and salespeople and its probably actually already begun. Financial Literacy might be the only way to save this demographic from the jaws of the sharks and financial scammers who prey on those lacking adequate financial acumen. This article is an example of why financial literacy is not just an elective to take but should be a rigorous required life skill class in both high school and college. I had to take a History class in middle school, high school, and then basically the same class again in college but no class was available about money management. Why?

Please inform me if it won't open for you and I will copy and paste.

I had no understanding of saving or compound interest back then. My family’s needs were immediate: food, clothes, rent. I wasn’t saving, except maybe for some candy. In general, financial literacy among Latino communities is lower than that of the average adult in the United States, particularly among first-generation immigrants, most of whom are scraping by on low-paying jobs.

 

https://www.nytimes.com/2019/01/10/style/personal-finance-latinos.html

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