Moneda Moves (82): Power To The Personal Finance Educators | Wealth Para Todos
Feliz viernes, mi gente. This week, we’ve been thinking about the power of personal finance educators.
In the last year, women educators in particular have had a rise on social media platforms. And it’s not just backed by empirical evidence —the number of women certified financial planners reached an all-time high in 2020 — a 3.1% drive up from 2019, according to ThinkAdvisor.
On the Moneda Moves podcast this week, we meet one aspiring CFP, Rita-Soledad Fernandez Paulino — an educator at her core.
This is the story of a former math teacher turned personal finance guide. At some point in her life, speaking about money with Soledad’s family was difficult, and she had a hard time envisioning beginning to invest.
Now an aspiring Certified Financial Planner, Soledad is taking followers on her debt-free and learning journey via her platform Wealth Para Todos. Soledad shares how she speaks about dinero with her family as a first-mover today and leads by example. Take a listen to the latest episode and let us know what you think.
Con poder,
Lyanne
Headlines to put on your radar.
Majority Latino Areas Got Less PPP Money Than White Areas: A new study from UCLA researchers revealed that majority white areas received more Paycheck Protection Program money for small businesses than majority Latino areas did in California. Researchers cite that this is in large part due to the fact that loans are distribute on a first-come and serve basis and catered to big banks which big businesses have relationships with.
This will nonetheless increase socioeconomic disparities across the state, where Latinos are already disproportionately hit by Covid and its deadly consequences. Recently, President Joe Biden introduced a two-week period, 2/24-3/9, where all PPP loans will go to businesses with fewer than 20 employees. (Governing)
The $1.9 trillion coronavirus package is considered by the Senate: Last week, the stimulus package had been sent from the House of Representatives to the Senate. Since then, a few things have changed as Americans await a third stimulus check. The proposed federal minimum wage increase to $15 hourly included in the House package was removed from the bill. Biden and Senate Democrats also agreed income eligibility for stimulus check requirement. Full payments will come to singles earning less than $75,000 and couples earning less than $150,000.
This Senate package will now need to be approved by House of Representatives before it goes to President Biden. (CNN)
How the pandemic targets Latino and Black-owned business: One in five Black and Hispanic entrepreneurs expected to permanently close their business over the next three months, Small Business Majority found in a recent study. Less capital is big reason that both groups are more vulnerable when it comes to keeping business afloat, but also have experienced greater drop in customers and are less-likely to benefit from government-offered aid. (YES! Magazine)
That’s all for this week, mi gente. See you here next week