Page 10 - Synchrony US Hispanic Market Playbook

FINANCIAL ATTITUDES

The goal: progress towards a better life

Moving their families forward in life is at the core of the US Hispanic population

Most Hispanics came to the US looking for a better life for them and their loved ones,
so achieving financial wellness and having a home is a driving factor behind their
attitudes and behavior around finance and insurance.

While Hispanic families have struggled to build generational wealth, growth in areas
such as home ownership, education and today’s workforce demonstrates US Hispanics’
desire to improve their financial security.

Working hard, going to school, saving whenever possible; it’s all about achieving
the American Dream

According to a 2018 study conducted by the National Association of Hispanic
Real Estate Professionals:

 73% of Hispanic families are prioritizing paying down debt

 76% prioritize having a stable source of income in case the unexpected
happens

 54% believe paying for their children’s education is an important financial
priority

 For 68% of families, not having to live paycheck to paycheck is also of
financial importance

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