1. Presenting to Spanish- Speaking Communities

2. Challenges and Opportunities Language: (transcreation vs. translation) Transcreation attempts to convey an image or message identically from English to Spanish without regard to literal phrasing. Ability to participate: need to provide childcare, transportation, etc. Cultural experience: many Latinos lack a history of using financial tools, have a tendency to avoid debt and are less likely to have a credit history. Immigration Status Source: Financial Education in Latino Communities - National Council of La Raza (2004)

3. 10 Barriers for Latinos 1. The Patrón-Peón System: Depending on others to take care of you 2. Mattresses and Mayonnaise Jars: Storing rather than investing money 3. Mi compadre: consulting (non) experts 4. Business on a Handshake: The trap of informality 5. Machismo: more ego can mean less money

4. 10 Barriers for Latinos… 6. Don’t be a crab: scarcity and abundance 7. Fatalism: a divine excuse for doing nothing 8. The Lotto mentality: getting something for nothing 9. The mañana syndrome: the pain of procrastination 10. Pobrecito me: conflicting beliefs and attitudes about money Source: Barajas, L. (2004) The Latino Journey to Financial Greatness. Rayo: NY.

5. TRUST: The essential elements Keep financial education: –Immigrant Centered (Latino-Centered) Culturally sensitive Socio-economic appropriate Customized to immigrants’ household, local, or community needs Designed to be a springboard off survival mode –“Latino-Immigrant Approved” Involve Latino immigrants in developing financial education solutions –Iterative Financial education is a process, not a product, that requires constant interaction, reinforcement, and follow-up

6. –Marketed to the Proper Audience Latino women are typical household decision makers Sometimes a school-aged household member advises the parents on financial decisions –Tied to Institutions Latinos Trust Latino immigrants would view providers of financial education more positively if they were tied to Latino companies who know how to get a message across in the proper manner and with the proper timing Source: Exploring Personal Financial Challenges and Opportunities Facing Latino Immigrants - National Endowment for Financial Education (2006)

7. Successful financial education programs: Are product-centered Are customized Are community-based Are relevant Are outcome-oriented Source: Exploring Personal Financial Challenges and Opportunities Facing Latino Immigrants - National Endowment for Financial Education (2006)