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ELPASO and the Latino Chamber of Commerce of Boulder County have partnered to bring a four-part financial education series to the Spanish-speaking community in the region.
Tomorrow, Ricardo Cabrera, operations manager at the Latino Chamber of Commerce of Boulder County, will facilitate the first of four virtual sessions that will cover basic information about creating and maintaining wealth, according to Tere Garcia, ELPASO executive director.
This series, titled “Como Ahorrar y Generar Riqueza con un enfoque hacia el futuro”, was developed as a follow up to ELPASO’s 2020 Latinx Parent Summit, a two-day Spanish-language event during which Boulder County parents attended virtual sessions about a variety of topics, Garcia said, adding the presentation about financial health was among one of the most attended.
“Many parents expressed interest in learning more, so we got together and organized this series of presentations,” she said. “We sent a survey to the parents, who chose the four topics that were chosen for the series.”
While the topic was identified by local parents, the series is designed to provide tools needed for all people to take a more active role in the Boulder County economy Garcia said.
“The Latino community has a very high spending power, we just need to give an opportunity to access the information that has traditionally only been offered and available in English,” Garcia said.
According to the 2020 Claritas Hispanic Market Report, the U.S. Hispanic population is one of the country’s fastest-growing segments, which is projected to drive 62% of the total U.S. population growth by 2025 and the “single largest and highest-spending minority group” in the country. By 2013 the buying power of the U.S. Latinx population will be over $1.9 trillion, “which is higher than the gross domestic product of countries like Australia, Spain and Mexico,” according to a Nielsen Diverse Intelligence Series 2019 report.
Garcia said members of the Latinx community are already spending incredible amounts in the local and U.S. economies, and this series will provide more information so they can learn how to better invest and spend this money.
“The main objective for the series is to give information to Spanish speakers across the community to help them improve their economic situation and offer their children a better future,” she said. “Kids learn by watching their parents, and if parents develop a habit of managing money appropriately, their children can learn that too by watching and listening to them.”
The four sessions will include information about how to get out of debt, budgeting effectively, investing, opening up a business, and more. “The goal is to help close down the wealth gap between the Hispanic community and the rest of the U.S.,” Cabrera said.
Cabrera is one of the only two people in the state of Colorado to be certified as a qualified facilitator by the Hispanic Wealth Project on the National Association of Hipanic Real Estate Professionals 10 wealth disciplines and will bring this expertise as part of the series.
“We believe that there is no reason why the Latino community shouldn’t be among the wealthiest sectors in this country,” he said. “We are among the groups with the best work ethic and with the most entrepreneurial spirit, we only need more information and some tactics to advance this cause.”
Each of the four sessions of the series will take place Thursdays, Jan. 14 through Feb. 4, 9 a.m. to 10 a.m. via Zoom and are free to anyone interested in participating.
So far, 60 people have registered for the event, and the Latino Chamber of Commerce of Boulder County expects more attendees to sign up through the start of the first event. All sessions will be recorded for later viewing if attendees are not able to participate in the live sessions.
“If I can help attendees develop a mature comprehension of wealth and prosperity, I will consider this series a success,” Cabrera said, adding anyone who is interested in learning more about the ten wealth disciplines to reach out to him directly. “This series has been specifically designed for this group and in Spanish… but these events can be adapted to cater to the needs of any group who is interested in learning more about this at no cost.”To learn more information and register for the event, click here. To contact Cabrera directly, send an email to email@example.com or visit the Latino Chamber of Commerce Boulder County website.