Do you know why Hispanics have so much debt? It is simply because there isn't anybody showing them how to manage their finances properly so they spend.
I had trouble at one point with my finances. So much that whenever I would get paid I would spend all my money on merchandise I couldn't afford. Sincer saving wasn't important to me I never did it. Now I know the value of saving and paying myself first.
I know saving is common sense but don't judge just yet because remember, I'm now debt free but it wasn't always the case for me. I remember buying a new Ford Mustang thinking that I was on my way to 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.
After four hard years of working I only had a few hundred dollars in the bank. I realized that I had spend all my money eating out and paying monthly payments on a new car. The car is what kept me from building wealth early on.
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.
When you add the typical mortgage to a Hispanic family you then put them over their monthly budget. This is how Hispanics go into debt, they buy into having to get into debt in order to get a good credit score. I wish I knew then what I know now.
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. - 15224
I had trouble at one point with my finances. So much that whenever I would get paid I would spend all my money on merchandise I couldn't afford. Sincer saving wasn't important to me I never did it. Now I know the value of saving and paying myself first.
I know saving is common sense but don't judge just yet because remember, I'm now debt free but it wasn't always the case for me. I remember buying a new Ford Mustang thinking that I was on my way to 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.
After four hard years of working I only had a few hundred dollars in the bank. I realized that I had spend all my money eating out and paying monthly payments on a new car. The car is what kept me from building wealth early on.
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.
When you add the typical mortgage to a Hispanic family you then put them over their monthly budget. This is how Hispanics go into debt, they buy into having to get into debt in order to get a good credit score. I wish I knew then what I know now.
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. - 15224
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.
