La Comunidad: The roles of parents and children in financial education | |
With a laundry list of unfamiliar things to learn as a new U.S. citizen, many Hispanic immigrants are educated through their relatives, friends, co-workers, and, surprisingly, their children. Growing up, many children of first-generation Hispanic immigrants find themselves taking on adult roles at a young age. By the time a child learns English in school, they usually find themselves interpreting for their parents. A sample of daily interpretations includes translating documents, setting up appointments, and disputing errors on bills.
While basic financial habits are often taught from parent to child, children also play a big role in educating their parents on finances. As they begin financial education at school, children tend to bring much of that information home to process alongside their parents. This leads into the common "role reversal", where the child ends up playing the role of the parent. Understanding this dynamic is important when it comes to your credit union's financial education approach. Finding ways to integrate adult and youth financial education programs is an effective way to reach Hispanic families as a unit. |
Financial Education Solutions | |
Intimidated by providing financial education for your current and prospective Hispanic members? Ease into it with a few small efforts to build an effective strategy. Don't forget to:
- Identify your target market
- Inventory your current financial education materials
- Adapt those to the target market
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New El Poder es Tuyo™ Subscribers | |
We welcome the following credit unions to El Poder es Tuyo™ (Spanish Web Site for Hispanic Members):
Coming soon on El Poder es Tuyo™:
- 4/19 - Teaching your Kids How to Save (Ense��ndole a sus Ni�os C�mo Ahorrar)
- 4/26 - How to Grow your Business (C�mo Crecer su Negocio)
- 5/3 - Be Financially Prepared Before your Children Attend College (Prep�rese Financieramente Antes de que sus Hijos Asistan la Universidad)
- 5/10 - What you Need to Know Before you Sell your Home (Lo que Necesita Saber Antes de Vender su Casa)
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