Being Financially Responsible is Being a Good Parent #HispanicDream

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.

Being a financially responsabile parnet

Nothing scares me more than the thought of not having enough money to provide my children what they need. Although both, my husband and I work, some months we hardly make it, apenas nos alcanza and to tell you the truth I’m not the best financial planner, my husband is the one that usually takes care of  or budget although every month I say I’ll do it and it seems I’m not alone on  this, according to the  study results conducted by MassMutal Financial Group on Financial Planning and Education for Hispanics, !Muchos Latinos necesitan ayuda! When it comes to plan their household futures, actually according to the survey there’s a disconnection between; Lo que los Hispanos DICEN y HACEN a la hora de hacer sus planes financieros or What Hispanics say and do when it comes to financial planning, yo la verdad !Me incluyo! Because every month I make a budget and 2 weeks into the month I reach my limit and in this case, good intentions aren’t enough, las buenas intenciones no son suficientes.

Mass Mutual logo

Some key findings of the survey of Massachusetts Mutual life Insurance Company’s (MassMutual)

“State of the American Family Study”

  • Paying off debt. On this topic, we are doing well. More than half (57 percent) of Hispanics prioritize paying off their mortgage as a top financial priority and nearly half (46 percent) prioritize getting out of credit card debt – significantly greater than the general population. But hold on, because despite these higher-than-average initial efforts to achieve financial security, aún nos falta hacer más. Almost half (43 percent) feel investing and financial planning should be a higher priority for them, and only 28 percent are confident selecting investment options to meet their goals.
  • On Focusing on a college education we need LOTS of work, the survey found, nearly half (49 percent) of Hispanics claim that paying for their children’s college education is something they insist on doing, yet only 31 percent rank savings/investing in their children’s college education as a top priority.
  • Educating children about finances is EXTREMELY important! The survey found close to half (47 percent) of Hispanics are actively involved in educating children about finances and 79 percent recognize it is important in order to ensure their success in the future. Perhaps this emphasis is because 36 percent of adults wish their own parents had taught them more about money, !Yo me incluyo!

How I educate my children about finances

¿Cómo educo a mis hijos sobre el dinero?


I say !Yo me incluyo! because my parents didn’t really teach me about money, but I have been trying to do it with my boys since they were little by telling them that, hard works pays off and when they want to buy a new video game or toy I tell them to save money and I give them a few chores and pay them a few dollars, !Intentátlo!

Why the survey can save your family’s future?

¿Pórque la encuesta puede salvar el futuro de tú familia?

The study identified key elements that could help Hispanic families achieve the American Dream which is about providing financial security to our families. Knowing there’s a gap between Hispanic’s desire to achieve financial security and taking the necessary steps to do so, we understand that there’s a HUGE need for fanancial education and access to resources to help with proper planning. Y como no somos expertos en finanzas, since we’re not finance experts, we need a professional help that could help us to make a budget and STICK WITH IT! Like they say in Mexico, “Yo cojeo” or my weakness are my children, I can’t say no when they ask me to buy them something and that usually triggers a shopping splurge, y hay problemas, so a few tips on how to save money with the kids could come handy.

It’s not that difficult to be financially responsible

No es díficil ser financieramente responsable

I know saying it and doing it are two very different things, but I’ve done it, when I was single and life is a lot more easier, so I encourage you to take a look at your finances, ask yourself if you have a plan and seek help if like me don;t know where to start when it comes to financial planning.

Are your finances are on the right track? Find out here.

¿Cómo andan tus finanzas? Enteráte aquí

Here are some tips, super útiles from MassMutual  to help us make sure that our finances are on the right track, so sit down, get a note pad and do the following:

Preparing for the Golden Years. The amount of income needed to maintain a standard of living in retirement varies from person to person and family to family. List all current and future expenses to see if you are saving enough right now. If not, talk to a financial professional who can create a plan.

Teaching the Future Generation. Setting children up for financial success is vital, yet many parents might not know where to start. Consider involving children in high-level family budgeting discussions and paying some of the monthly bills. Playing family board games or engaging in activities that have a monetary component also can help kids learn in a fun way.

Protecting Paychecks. For families, making sure that their income stream doesn’t stop coming in should be a priority, and disability income insurance may be a solution to address that need; it can help breadwinners meet future financial obligations – like paying electrical bills or, even more important, mortgages – if unable to work due to illness or injury.

Securing Families’ Financial Futures. Not only does life insurance provide financial protection if the worst were to happen, but some policies also accumulate cash value* – a living benefit that can be used for supplementing retirement income, funding a child’s education or emergencies.

For more information about how MassMutal Financial Group can help you get back on track on your finances and become a responsible financially parent visit:

¡Vamos! Let’s all be a Financially Responsible Parent



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