Bank of America's award-winning mobile app has nearly 2 million active Spanish-language users.īank of America commissioned a survey of 1,500 respondents, age 18 or older, to explore their views on personal financial matters. More than 2,000 of the bank's financial centers have Spanish-language capabilities, including Spanish-speaking representatives. In addition to the suite of resources available on, which are available for anyone, anywhere, Spanish-language capabilities are provided to Bank of America clients across multiple products and services, including mobile, online, financial centers and ATMs. Yet, only 5 percent of Hispanic-Latino Americans say they expect their children to support them. ![]() Hispanic-Latino Americans are more than twice as likely to say they support or expect to support their parents financially (28 percent, compared to 12 percent of non-Hispanics). Hispanic-Latino Americans are more likely to view finances as a family affairįifty-two percent of Hispanic-Latino Americans are financially tied to their families, compared to just 33 percent of non-Hispanics. Hispanic-Latino Americans are twice more likely to wish they knew more about buying a home than non-Hispanics (23 percent compared to 10 percent, respectively), a finding that is underscored by engagement with Spanish-language where the home buying content is among the site's most accessed information. Twenty-five percent of Hispanic-Latino Americans say they're worried about losing their job (compared to 11 percent of non-Hispanics). Thirty percent of Hispanic-Latino Americans reported stress about buying a home or paying their rent/mortgage (compared to 15 percent of non-Hispanics). Hispanic-Latino Americans are more stressed than non-Hispanics about housing costs and job security. Savings is the top financial stressor for both Hispanic-Latino Americans and non-Hispanics (43 percent and 42 percent, respectively). Saving money is a universal stressor Hispanic-Latino Americans are twice as likely to worry about housing and job security 'By offering easy-to-understand Better Money Habits resources in Spanish, we can help ease some of the biggest stressors Americans report having about their money.' 'We heard from our partners and communities that Better Money Habits content and tools in Spanish would help more individuals and families have the power to build their financial know-how and achieve their goals,' said Andrew Plepler, global head of Environmental, Social and Governance at Bank of America. But, they still want to learn more about personal finances - 84 percent of Hispanic-Latino Americans say they'd like to learn more (compared to 69 percent of non-Hispanics) about topics like home ownership, investing, saving and retirement. Fifty-three percent of Hispanic-Latino Americans say they track their expenses every month (compared to 48 percent of non-Hispanics), and 31 percent plan and stick to their budget every month (compared to 24 percent of non-Hispanics). ![]() In addition, new research from Bank of America reveals Hispanic-Latino Americans prioritize smart financial habits, like tracking expenses and budgeting, at similar and higher rates than non-Hispanics. Now, users can access the full suite of easy-to-understand tools and resources in Spanish and have the power to make sense of their money and take steps to improve their personal finances. Bank of America announced today that all content from Better Money Habits®, its free financial education platform, is available in Spanish.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |