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Financial Behavior of Hispanic Americans

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Handbook of Consumer Finance Research

Abstract

The United States is a multicultural country with increasingly high numbers of bankruptcies, credit problems, and low savings and investment rates. In particular, the Hispanic population is one group of ethnic minority consumers whose financial practices may become critical with regard to these increasing financial problemsdue to certain characteristics this group possesses (e.g., low educational attainment). This chapter first reviews relevant research related to Hispanic consumers’ finances. Then this chapter reports findings from an original study of Hispanic college students. Using in-depth interviews, the study explores the role that consumer socialization agents play in influencing Hispanic students’ financial behaviors. The informants for this study indicated that socialization agents play an important role in the acquisition and development of financial skills throughout their lives.

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Author information

Authors and Affiliations

  1. Department of Consumer, Apparel, and Retail Studies, University of North Carolina at Greensboro, PO Box 26170, Greensboro, NC 27402-6170, USA

    Kittichai Watchravesringkan

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  1. Kittichai Watchravesringkan
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Editor information

Editors and Affiliations

  1. University of Rhode Island Transition Center, 2 Lower College Rd., Kingston, RI 02881, USA

    Jing Jian Xiao Ph.D.

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Watchravesringkan, K. (2008). Financial Behavior of Hispanic Americans. In: Xiao, J.J. (eds) Handbook of Consumer Finance Research. Springer, New York, NY. https://doi.org/10.1007/978-0-387-75734-6_16

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