A note on Hispanic Heritage Month:
Words are important. Definitions are important. The ways we identify ourselves and the groups we belong to are important. For these reasons, the phrase “Hispanic Heritage Month” in itself is a little tricky.
As a primer, we recommend this fascinating deep-dive into the array of labels that delineate—but also unite—people in the United States who were meant to be celebrated during Hispanic Heritage Month when the observational period was enacted in 1968.
Latino, Chicano, Afro-Latino, Tejano, Mexican-American, Mixtec, and Indigenous are just some of the identities that bind together the communities, cultures, and ethnicities traditionally under the “Hispanic” umbrella term. Additionally, in an effort to recognize the full gender spectrum, terms like “Latinx” and “Chicanx” have gained popularity.
Does Hispanic Heritage Month need a rebrand? Probably. But in the meantime, we’ll take this opportunity to elevate and celebrate the people who are doing the most for their communities—by whatever label they choose. For this blog post, we’ll primarily use the term Latino/a unless otherwise specified.
Latinos in America experience unique financial challenges, many of which have grown more complex in recent years. Here are a few stats that help piece together the broader picture:
If you ask these Latina money experts, they’ll tell you that knowledge is everything:
According to her bio at Next Gen Personal Finance, Yanely was raised in Brooklyn by her immigrant parents from the Dominican Republic, along with her 9 siblings.
After making her way through graduate school, Yanely turned her educational expertise and passion for financial literacy into a YouTube channel, called MissBeHelpful. Her goal? To shine a spotlight on people, stories, information, and experiences that will help her audience achieve their financial goals.
This video about being the first in your family to build generational wealth.
This video discussing the ways immigrants can invest money, even without an SSN
Maribel is a financial educator and speaker who describes herself as the “first-gen daughter of Mexican indigenous immigrants.” Her mission is to empower the immigrant population in the U.S. with the financial knowledge—particularly the knowledge of how even undocumented immigrants can invest, build credit, own businesses, and save for retirement.
This collection of invaluable resources on Individual Tax Identification Numbers (ITINs) and where/how they can be used
This IG Live replay covering investment options for undocumented immigrants
GiGi, founder and CEO of The First Gen Mentor, is a “proud first-generation American, first-generation college graduate, and first-generation wealth builder.” Her platforms offer a potent mix of financial literacy knowledge, professional success tips, and empowering resources.
GiGi has been featured in the New York Times, Business Insider, and on Good Morning America—but you can find her posting incredible tips, tales and insights on her TikTok account and making money-mentor-moves on her Instagram account.
This emotional story about professional life as a first-gen college graduate
Gigi's inclusive financial education for the first-gen community, including financial courses, coaching, and workshops
StellarFi is proud to be immigrant-founded, and powered by Latinx leaders. During Hispanic Heritage Month and beyond, we honor the contributions—rarely recognized nor rewarded—of the Latino immigrant community and the dreams of the generations that follow. Our mission to eliminate financial inequality begins by stripping down barriers. Learn more about it here.
The StellarFi blog is intended to serve as an informational resource. While StellarFi can help you build your credit, we do not provide financial, legal, or accounting advice. Please consult a trusted advisor for financial, legal, or accounting guidance as needed.