Do you want to know why so many Hispanics are in debt? I'll tell you, it's because nobody is out there helping them to make the right financial decision.
I know this because I too once had trouble managing my finances. Nobody taught me about finances growing up so when I worked I spend my money and never saved. I didn't see why saving was important so I spend my check every month.
You may be thinking to yourself, saving is common sense. Don't judge me yet, keep in mind that i'm debt free but boy I used to be far from it. I had a brand new Ford Mustang that kept me from building wealth.
I was making $400 dollars a month payments on a new car that was dropping in value every time I drove it to work.
For four hard years I worked but at the end of the fourth year I only had a few hundred dollars to my name. I spend all the money I made on my new car, food and entertainment outings. The car is what kept me in financial bondage.
Let me just tell you that when you see Hispanics know that they are in the same position that I once was. I know because they are my family, my friends, me a couple years ago. Hispanics purchase these nice trucks and SUVs and finance them for 5 years making outrageous payments.
So when Hispanics then add a mortgage they also add financial stress every month. You see hispanics do not work off a budget most hope they can make it the next month. This is how they get into debt. They fall into making monthly payments on stuff they cannot afford.
Today I want more Hispanics to pay off their debt so they can build a better future for their children so I started a site called Debt Free Hispanic. The site is built to help others learn from my mistakes. I write about saving money and building wealth with your income. I do not recommend using any credit to make purchases, that is how you become debt free.
I know this because I too once had trouble managing my finances. Nobody taught me about finances growing up so when I worked I spend my money and never saved. I didn't see why saving was important so I spend my check every month.
You may be thinking to yourself, saving is common sense. Don't judge me yet, keep in mind that i'm debt free but boy I used to be far from it. I had a brand new Ford Mustang that kept me from building wealth.
I was making $400 dollars a month payments on a new car that was dropping in value every time I drove it to work.
For four hard years I worked but at the end of the fourth year I only had a few hundred dollars to my name. I spend all the money I made on my new car, food and entertainment outings. The car is what kept me in financial bondage.
Let me just tell you that when you see Hispanics know that they are in the same position that I once was. I know because they are my family, my friends, me a couple years ago. Hispanics purchase these nice trucks and SUVs and finance them for 5 years making outrageous payments.
So when Hispanics then add a mortgage they also add financial stress every month. You see hispanics do not work off a budget most hope they can make it the next month. This is how they get into debt. They fall into making monthly payments on stuff they cannot afford.
Today I want more Hispanics to pay off their debt so they can build a better future for their children so I started a site called Debt Free Hispanic. The site is built to help others learn from my mistakes. I write about saving money and building wealth with your income. I do not recommend using any credit to make purchases, that is how you become debt free.
About the Author:
Hispanic debt will continue to rise if we don't tell Hispanics about becoming debt free Not only do I stay away from credit, I even make money online.
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