LIVE STREAMING

Eight things we learned about college-educated Latinos and personal finances

More than half of college-educated Latinos (59 percent) reported having difficulties covering all expenses and paying bills in a typical month.

MORE IN THIS SECTION

Mourning in Colombia

Piñatas For Everyone

A Latino in the Stars

Hispanic Role Model

A Latino Storyteller

Pau Gasol enters the HOF

SHARE THIS CONTENT:

More than half of college-educated Latinos (59 percent) reported having difficulties covering all expenses and paying bills in a typical month, according to a survey published this week by TIAA-CREF, which revealed the following:

  • One-fifth reported that their spending over the past year exceeded their income, and an additional one-third said it was about equal, leaving no income to save.
  • One-half feel that they have too much debt.
  • 50 percent of credit card holders engage in expensive credit card practices, like making the minimum payment only, making late payments, using cards for cash advance, or exceeding their credit line.
  • 35 percent have used one or more high-cost borrowing methods in the last five years.
  • Less than one-half (40 percent) of households have emergency or rainy day funds sufficient to cover expenses for three months.
  • Almost four in 10 college-educated Latinos said that they probably or certainly could not come up with $2,000 within the next month in case of an unexpected economic need.
  • College-educated Latinos are 20 percent less likely than whites to display a basic level of financial literacy and one-half as likely to demonstrate advanced financial literacy.
  • LEAVE A COMMENT:

  • Join the discussion! Leave a comment.

  • or
  • REGISTER
  • to comment.
  • LEAVE A COMMENT:

  • Join the discussion! Leave a comment.

  • or
  • REGISTER
  • to comment.
00:00 / 00:00
Ads destiny link