Financial health is at the core of a family’s ability to thrive. It affects almost every aspect of a person's well-being and has the ability to impact future plans and goals, for better or for worse. It’s never too late to start on a path towards fiscal health and security. With proper education and resources on key topics including credit, capital, and homeownership, communities can be transformed and revitalized. Hispanic Federation understands the potential Latinos have to increase their economic prosperity for generations to come, and commits to tapping into that potential through workshops and public education campaigns.
Our commitment to financial health includes:
Technological advancements are changing the workforce requirements of our economy. According to Brookings, nearly two-thirds of all new jobs created since 2010 required either high or medium level digital skills. Latinos make up 18% of the overall U.S. labor market and will account for one out of every two new workers entering the workforce by 2025, but also make up 35% of workers with no digital skills; 20% of those with limited skills; and only 8% of all STEM jobs. Latinos also hold jobs that are at the highest risk of elimination due to automation of any identity group, at close to 60% (followed by African Americans at 50%). Without digital skills, Latinos will be overrepresented in the groups that are excluded from access to the digital economy.
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When it comes to financial security, a few small changes can go a long way. However, many people are unaware of how they spend their money and the tools available to help them create financial prosperity. The Hispanic Federation’s Personal Finance Workshop series offers a variety of interactive financial literacy workshops focused on budgeting, saving, investing and credit. Since 2008, HF has trained more than 9,000 individuals in efforts to build confidence in making proper financial decisions by improving money management and budget proficiency, understanding why and how to save, and teaching how to manage credit. Each one hour module, run by bilingual HF staff, is open to HF member agency staff and clients.
More than 1 in 5 Latinos face food insecurity and 1 in 4 Latino children live in food insecure households. Lucha Contra El Hambre is HF’s hunger relief effort focused on boosting food support to needy families throughout New York. In 2015, the program expanded its reach to serve families in Central Florida, where hunger and food insecurity among Latinos is on the rise. In 2016, the program grew nationally to include partner Latino agencies battling hunger in the growing Latino communities of Atlanta, GA, Newark, NJ, Orlando/Kissimmee, FL, and Philadelphia, PA.
Each year, more than 85,000 pounds of food are distributed providing an estimated 100,000 meals for families in those areas. Since its inception in 2011, and with the help of the Ford Motor Company Fund and other supports, Lucha Contra El Hambre has provided more than 1,000,000 meals to Latinos living in some of New York’s most underserved communities.
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For more information, contact Diana Caba, Assistant Vice President for Policy and Community Engagement.