Updated: Sep 30, 2021
My good friend Leo Gonzalez, financial professional, goes on IG Live with me and talks about being financial literate. It's definitely incredibly important to be so, especially if you are running your own business. You're in it to make money right?!
One of the shocking statistics he gave was:
That the average net worth of Hispanic households nationwide was $8,000. When compared with other races like whites was $89,000. (6:11)
That was back when Leo was in college. According to this article, it's about $12,000 to $130,000, Hispanic to white.
Leo is on a mission to help our community of Latinx and people of color understand how to manage their money.
Tip #1: Separate your money, at least in a checking and savings account. (9:24)
Tip #2: Make a budget and establish financial goals. (13:10)
Tip #3: Build and use credit. (28:04)
Tip #4: Create good money habits. (32:18)
We go on depth with each of these tips. Watch the video and Learn with Lucin!
Other resources mentioned:
Are you financially literate?
What questions do you have in terms of finances?
Let me know in the comments below!