Did I tell you that I am in the process of becoming an affluent mom? Well, I am and I was interested in participating in a blog tour campaign for Mass Mutual because they recently released the results of a study involving affluent Hispanic moms. One day I will be an affluent Hispanic mom, until then I can read about them and learn a bit from them.
The survey found that Hispanic moms with household incomes of over $100,000 are doing their best to be financially responsible, while managing household responsibilities, and although concerned about their families finances, they don’t always know where to turn for help.
Check out the following infographic, which really breaks down the findings of the Mass Mutual survey.
Now, I don’t find myself in the same financial demographic as the women in this survey, but I do share many of the same concerns.
- I feel that I should be doing more to save for the future, but right now I’m just struggling to get by.
- I’m concerned about that state of my family’s finances and don’t necessarily know where to turn for help.
- I want to provide a financial education for my children.
I think these are concerns that affect many of us regardless of our yearly income. I find myself in a place right now where aside from paying off debt, saving for our future is very important. I also want to teach my children to save so they will hopefully be ahead of the game. Stressing out about money and your future is no fun.
If you are curious to see where you stand in comparison to the study findings I encourage you to take the Mom Survey and find out about your financial personality profile. You may learn a thing or two about yourself and your finances.
Do you make an effort to educate your children about finances?
I wrote this post as part of my participation in a blog tour for Latina Mom Bloggers on behalf of MassMutual and received compensation to thank me for taking the time to participate. However, all opinions expressed are my own.
I’m going to take the survey right now! Although we discuss our finances, I’m the one that manages it. I have to give a lot of credit to my mom, she manages my parents’ finances and she is really good about paying off debt (or not incurring it in the first place), saving, and being responsible. She is great at finding deals. I need to get better at coupons, sales, etc.
We tried to teach our kids about money, spending, credit cards but a few seemed to learn the hard way. I don’t think it has anything to do with ethnicity. Basic money lessons such as interest on loans and compound interest on savings should be understood by everyone.
The big lesson to learn is delayed gratification. Add that to your skills and you will do better.
Remember shop responsibly!
I don’t have kids save for the odd 100 or so that I am leading in Honduras. I think I learned financial responsibilty by example from my parents. I also learned the value of generosity. I think generosity is an overlooked component in doing well financially. When we have a spirit of fear about money and we can’t let go, then it’s hard to be wise with money.
I don’t have kids except for the couple I’m putting through school in Ghana. My parents set a fantastic example for us (although admittedly, as a kid I thought they were just being cheap when in reality, they were really struggling). It helps that I don’t care much for “stuff” (clothes, shoes, new cars…stuff). Having lived with virtually nothing for 2+ years in Africa really puts things in perspective and teaches the true meanings of Want and Need. I agree with Laurie about generosity.