Hispanic Consumer Market: Solutions to Help Improve Your Financial Wellness
Our wish is for you to attain your life’s goals and dreams. When you improve your financial wellness, the far-reaching benefits provide a “wellness effect” that extends not only to you, but to your families and communities. We will continue to share the solutions to help you start today to attain financial freedom for all your tomorrows. This year, starting at Hispanicize 2017 and throughout the 2017 DiMe tour, we intend to share solutions to some issues that continue to trouble a majority of the Hispanic community:
What you can do from today, going forward For Hispanics, the disconnect with financial planning is largely rooted in lack of awareness and familiarity. Essential questions about financial wellness were asked during the DiMe/Prudential five-city #WomenInspired tour of Latina influencers in 2016. Approximately 100 influencers took part in heart-to-heart conversations and exchanges during the tour, which uncovered a lack of understanding of many important financial issues. The tours provided an eye-opening learning experience that influencers shared with their audiences via personal blogs and videos. There were key themes that arose from the tour, which are likely to be of substance to the larger Latino community. Personal quotes from influencers on their most important lessons learned begin each section of this report.
First Step: Follow Your Own Budget While Juggling Savings
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Save for a Rainy Day—Expect the Unexpected
F unding a Multigenerational Household: Retirement, College and Eldercare
Solutions for your questions This report may help address some of the solutions that may help to protect yourself and those you love; work the numbers of a business/entrepreneurship; deal with budgets and investments; set up guaranteed income in retirement; and pay for college & elder care while saving for retirement. Receiving a helping hand from a Prudential Financial Professional can help put you on a more focused financial path. Many are involved in your community and savvy in the knowledge of Hispanic culture.
ABC’s of Retirement Savings Plans and Social Security Life Insurance: For Those You Love, Except When It’s for You!
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10 Crucial Financial Tips for Entrepreneurs
Working with a Financial Professional ROCKS!
First Step: Follow Your Own Budget While Juggling Savings “I want to create a future by taking the right steps on the road to a financial future that defies the current statistics for Hispanics!” There is a household tug of war for every dollar a family earns. But are you aware of where the money is spent? Do you know where you stand financially – Today? In 10 years? In 20 years? The challenge of building a more secure financial future may seem daunting, but it isn’t as difficult as you think. Managing your money is like anything else that you want to do well. It takes practice, patience – and most of all – a plan to do it right. It’s difficult to build a financial strategy without first figuring out what is important to you and your family. Start the journey there, and everything else will fall into place. A few basic concepts are all you need to effectively manage your money.
Create a budget Here’s the bottom line: balance how much you earn vs. what you spend…or what you “think” you spend. If you are not tracking your money trail, how could you know? See the interactive tool “Slice A Budget” (http://bit.ly/2nkiMVT) below to learn how finding the right balance of spending and saving could help you grow your money for tomorrow.1
How can you invest for the future when the mortgage, utilities and credit card bills are due this week? You might have to buy new computers f