Consolidated Credit Survey Shows Hispanic Attitude toward Holidays Grocery Budgeting & Shopping
— Survey’s results show a trend toward cooking at home with family and friends —
FORT LAUDERDALE, FL – December 10, 2016 – (HISPANICIZE WIRE) – Will Latino families cook, buy prepared food, or eat out during the Holidays? Consolidated Credit conducted a survey of Latino families living in the United States and 63.77% of the 550 respondents answered they will cook this year for it’s a cheaper, better, and taster experience overall.
The survey sought to learn how much an average family spends on typical Christmas and New Year’s Eve meals during the holiday season, and what types of foods they cook, buy and eat. Seventy-three percent of respondents claim they may spend between $100 and $300 for Holiday meals, whilst less than 20% says “between $300 and $500.” The survey’s results were published on CelebrandolaHispanidad.com. View also an infographic on the topic (en español): Los Latinos y El Costo de las Comidas Típicas en la Temporada de Fiestas.
Among Latinos’ favorite foods for this holiday season, Consolidated Credit developed another infographic which shows Latinos food preference by countries of origin. View Infographic (en español): Tradiciones Gastronómicas para una Navidad con Sabor Latino.
Hispanics More Cautious About Their Holiday Spending This Year
According to another national survey by the Florida Atlantic University Business and Economics Polling Initiative (FAU BEPI), Hispanics are more cautious about their holiday spending this year with 1 in 5 saying they will not be shopping at all. As consumers, Latinos seems to be strategizing for a more frugal holiday.
Credit Card Use For Holiday Grocery Shopping Among Latinos
The survey completed by Consolidated Credit also shows how Latino families prefer to pay for their food. Surprisingly, 60.44% of respondents answered they like to pay with cash or debit card, versus 18.67% who prefers to pay with a credit card. There’s a trend among Latino families to avoid high interest rates charged by credit card processors.
Budgeting For Holiday Shopping
Consolidated Credit believes that budgeting and financial planning would help Latinos reduce the risk and fear of credit card debt. “Budgeting for holiday shopping is not indicative of being overcautious but of a smart consumer. With the right budgeting tools, the Latino community can plan effectively, handle all the challenges that life can bring, and grow financially over time,” said Gary S. Herman, president of Consolidated Credit.
Upcoming Webinars & Seminars
You can sign up here www.consolidatedcredit.org/webinars-and-seminars/ for online courses and local workshops to expand your knowledge on personal finances. Topics include: Living Debt Free, Budgeting 101, and Homeownership.
Facebook Live Events
You can also learn tips on personal finances through the regular Facebook Live Events conducted by Community Development Manager Beatriz Hartman. The last one was titled, “Cómo Sobrevivir a las Fiestas sin Endeudarse” was watched by over 100 people live.
You can still watch it here: Facebook Live Videos de Consolidated Credit
A Note on Terminology
The terms “Latino” and “Hispanic” are used interchangeably in this press release.
About Consolidated Credit:
Consolidated Credit <http://www.consolidatedcredit.org> is one of the nation’s largest credit counseling agencies and has helped over 5 million people over more than 20 years with financial issues. Their mission is to assist families throughout the United States in ending financial crisis and solving money management problems through education and professional counseling. The organization is ISO 9001:2000 registered, members of the Better Business Bureau and Association of Credit Counseling Professionals.