SURVEY REVEALS LATINOS
FINANCIALLY AT RISK
Several recent studies indicate that Latinos can be particularly plan, struggling to pay bills, having a record of missing and late pay-
at risk of running into serious financial and credit problems. With ments, not establishing good credit, lacking investments, and not hav-
the current economic crisis and looming recession, that kind of risk ing adequate insurance coverage.
could become an unpleasant reality for many. In a shaky economic Some of the problems are due to outside forces. For example,
world of increasing unemployment the disappearance of good blue collar
and layoffs, skyrocketing prices, jobs, low wages, the lack of good
mortgage meltdowns and tumbling financial information and advisors in
stock markets, it is important to be Spanish, and predatory lending for
prepared for the unexpected. But it cars, mortgages, and credit and
seems as though many Latinos are things like “convenience” check cash-
already living on the edge and have ing and paycheck advance at interest
little or no preparation for the future rates that used to put loan sharks in
or for unplanned emergencies. jail.
One study by the National The practice of offering initially
Foundation for Credit Counseling low subprime mortgages helped to get
found that the basic building blocks to more people into their own homes,
financial security are often lacking in but when the bubble burst and the
this community. These same problems economy began to tank, people were
also affect many others in the US population, but seem to be growing trapped with rising mortgage payments they could no longer afford.
at an alarming rate among Latinos. These problems include danger- A study by the Joint Center for Political and Economic Studies
ously living from paycheck to paycheck without any savings or backup found that Hispanics and African Americans were about twice as
S A L U D O S 43 H I S P A N O S
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104