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Latino Daily News

Friday October 12, 2012

Caucus of Hispanic State Legislators Get Behind Initiatives to Promote Financial Literacy

Caucus of Hispanic State Legislators Get Behind Initiatives to Promote Financial Literacy

Photo: Promoting Financial Literacy Amongst Latinos

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The National Hispanic Caucus of State Legislators announced they passed a resolution by Representative Juan Candelaria of Connecticut that supports expanded financial literacy and empowerment for all Americans, especially young adults and Latino households.

The NHCSL staff and legislators will work with other organizations to promote financial literacy, support activities related to the Financial Literacy Month, and urge policy makers to publicize solutions and recommendations for those seeking financial help.

Although the majority of Hispanic households with incomes of at least $45,000 believe they are financially successfully, one-third of them say they still need help making financial decisions. Smart financial decisions are the result of financial education and access to financial management tools, but because these are hard to acquire, it is easy for many individuals to make poor financial choices and become financially unstable.