“Sí se puede” and “Ponte las pilas” are two of the most common phrases Latinos hear when growing up. But how much do the new generations of Latinos believe in these phrases when applied to their education and financial life?
A recent survey conducted by Intuit TurboTax unveiled the importance of higher education for Latinos Millennials and Gen Z. Survey results reinforced the direct correlation between the desire to achieve a higher-level education with ensuring their families are better positioned for a brighter and more successful future. The survey is in support of the recently launched Intuit TurboTax initiative #LeadingConEducación, which empowers the next generation of Latino students to take control of their finances and provides monetary support to achieve their educational goals in the form of grants and scholarships in partnership with the Hispanic Heritage Foundation.
Latinos Dream Big: Key Findings From The Study
- 79% of respondents confirmed that if they had a college education, they would have an opportunity to help their families
- When asked which type of monetary resources they would like more of, funding their education surfaced as the top option, with over 4 in 10 (43%) identifying higher education as a top need
- 43% of Latinx respondents reported that college is a level of education they would like to achieve
- 3 in 10 had begun planning and started setting a long-term financial goal to pay for their higher education
- Over 6 in 10 U.S. Latinos believe they are experts at saving money — but less than half think they are similarly adept at investing, according to the research
- Funding a savings account (46%), buying a home (45%) and paying off debt (38%) were the most common long-term financial goals for which respondents had already started planning
- Over 7 in 10 respondents stated that achieving “financial freedom” is “very” or “extremely” important to them. When asked to describe what the concept of “financial freedom” meant to them, respondents’ answers included independence and future security themes.
TurboTax #LeadingConEducación Scholarship Program
At Intuit TurboTax we are proud to support hard-working Latino students through our #LeadingConEducación scholarship program to position themselves for success when it comes to managing personal finances, starting with their own taxes. To learn more about Intuit TurboTax’s corporate responsibility program and apply for an educational grant, you can visit the #LeadingConEducación page.