Poor financial advice, habits hurt many South Florida Hispanics, blacks

Posted on: June 18th, 2008
Filed Under: [ Business ] [ Your Money ] [ Eye Openers ]
Knowledge is Power!

“She’s had to take a second job as a maid. To save on gas, she rarely drives her car. And she stands to lose her home.

As a lifetime of hard work crumbles under one bad financial decision after another, Alicia Suarez wishes she and her husband had sought better advice.

“By the time we realized we had no money saved in the bank, we were at rock bottom,” said Suarez, 52, of West Palm Beach.

Suarez’s plight is shared by millions of Hispanics and blacks, thousands of them in South Florida, who have suffered critical setbacks in a shrinking economy, according to new data from the National Foundation for Credit Counseling.”*

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