💸💪🏾Moneda Moves (23): "The best way I can serve Puerto Rico"🇵🇷
📅T-G-I-Viernes. It's been a week in news, mi gente.
📰We are coming in hot with the latest on Latinx and money this week, starting with some updates coming from Puerto Rico: Earlier this week, President Trump reiterated his opposition to disaster funding for Puerto Rico, reportedly saying that the amount the island received “is way out of proportion to what Texas and Florida and others have gotten." Criticism from representatives and senators like Bernie Sanders has been swift:
Mayor Carmen Yulín Cruz of San Juan who announced she was running for governor just last week told CNN: "He doesn't understand that we are still recuperating from a devastating situation." 43% of population on the island, she added, needs this funding to put food on the table. That's a stat also reported by The Washington Post, which noted that in March Congress missed the deadline to reauthorize food stamp aid to the island in light of the hurricane.
This lack of funding from the administration puts residents of Puerto Rico in a very precarious situation, with one even quoted saying: “We will buy less and eat less." Thorough coverage is coming from The Washington Post, We Are Mitu, NBC Latino and more.
We will continue to monitor and post updates on the economic status of the island via Moneda Moves' Twitter and Instagram.
Con poder✊🏽,
Lyanne
Keep tabs/cuentas on what's happening at the intersection of Latinx and money.
Latinx business owners are gearing up for expansion💸: When it comes to small business, 87% of Latinx entrepreneurs are looking to expand this year. In comparison, only 67% of non-Hispanic counterparts plan to expand. When asked about the next five years, Latinx are also optimistic about expansion at 79% answering they would expand within that time frame. That is according to data from the 2019 Bank of America Hispanic Small Business Owner Spotlight. Businesses surveyed had anywhere from 2 to 99 employees.
(Credit: Giphy)
At NYC's most elite schools, POC are least represented📚: A report by The New York Times found that though Latinx and black students make almost 70% of the New York City public school system, only about 10% were admitted to the city's specialized schools. At the most selective school, only seven of 895 possible seats were granted to black students this year. Given that high quality education can be a strong driver to social mobility, lack of access to these schools could certainly be seen as a hinderance.
Piensalo.
(Credit: The New York Times)
Know the powerful/potentes Latinx and up-and-comers in the money world.
Forever 21 debuts "Selena the White Rose Collection"🌹: The late Tejano singer debuted a new collection for admirers of the late Tejano singer earlier this month. Meet-and-greets have already been scheduled throughout the country with her sister and band drummer Suzzette Quintanilla throughout the country. The collection comes right at the heels of her birthday, April 16, and 24 years since her passing. Forever 21 is not the first store to release Selena attire. The story is by Jessica Raiz in Billboard. Other major stores selling Selena merchandise include Ross, Hot Topic, Macy's and that's just the first few. Plenty of small businesses have also sold phone covers, shirts, caps and more making references to the Latinx singer. A brief reminder: the company behind all official merchandise comes from the Quintanilla family itself owned by Selena's father, Abraham Quintanilla Jr. See the full website offering Selena official merchandise, museum details and more over at Q-Productions.
Where would you buy your Selena merchandise?🤔
(Credit: Forever 21)
Put your money/monedita where your mouth is! Some money tips for thought.
Millennials and Latinx not likely to have health insurance🩺: ¿Tienes cobertura? Are you covered? A recent Gallup poll found that the number of people uninsured increased in 2017 to 11.3% up from 10.9%. Among the groups most known to not have health insurance is the Latinx community. 27% of both white Hispanics or Latinos, and American Indians or Alaska Natives between the ages of 18 and 64 were uninsured in 2015, per U.S. Census data. That's compared to nine percent of white people not covered by insurance. Despite the fact that there are several avenues to obtain insurance including your employer, Medicaid and exchanges, it is crucial to note that Latinx individuals are more likely to have low income, blue collar jobs without employer-offered health insurance. This raises a big affordability issue. The story comes from Casey Leins at the U.S. World & News Report.
That's all for this edition of Moneda Moves, familia! See you en la proxima...