Latinos are a significant contributor to the US economy – that’s why Lyanne Alfaro makes financial literacy more accessible


According to a 2019 report by the Latino Donor Collaborative (LDC), if the Latin American community were its own country, its total gross domestic product (GDP) would make it the world’s eighth-fastest growing economy and the third fastest growing. . In 2017, Latin America’s GDP was $ 2.3 trillion.

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Report co-author David Hayes-Bautista described Latino post-millennials (born 1997 or later) as the “secret sauce” of America’s economic predominance.

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For Lyanne Alfaro, this is not a surprise. Alfaro is a first generation Mexican who grew up in Chicago surrounded by a community of other Latinos and people of color. From a young age, she understood the importance of money and how race could affect economic mobility.

When she graduated from college and started working in business news, Alfaro couldn’t believe Latinx’s lack of coverage.

“I have seen entrepreneurs. I’ve seen people contribute to the economy, I’ve seen homeowners. I saw people coming here and really trying to generate business, really trying to generate opportunities for themselves. And I wondered, well, this has everything to do with money. Why don’t we cover it? She said In The Know.

This is what inspired Alfaro to launch Moneda Moves, his platform for and about Latinos, their personal finances and their contributions to the American economy.

“Imagine the impact we could have,” Alfaro said of the potential of Moneda Moves. “Imagine the information we could share. Imagine the meeting rooms we could walk into and the windows and doors we could open for others. There are just limitless possibilities to unlock as we start talking about it. “

Alfaro began looking for journalists covering people of color in Latinx businesses and businesses to highlight on the platform – consisting of a newsletter, podcast, and social channels.

“We cover the intersection of Latinx people and money,” she explained. “We cover everything from our contributions to the American economy, our relationship with money and our entrepreneurship in the United States.”

The podcast includes original interviews with people in the FinTech industry who can provide listeners with financial literacy, as well as political workers actively trying to effect change on a larger scale.

But his biggest point in starting Moneda Moves is forming a community of trust between Alfaro and his users.

“The more reserved we are, the more we continue to hold on to our real insecurities about what we don’t know about money, or our history with money, the harder it is to move forward,” he said. she declared. “Money and trust go hand in hand. “

Ultimately, Moneda Moves is all about making sure Latinx people are seen and understood. Regardless of socio-economic background or education, financial literacy should be readily available to everyone.

“I really encourage everyone to step into the fold, join the conversation, and start with one thing you can share about the money, whether it’s in the manual or at home. [or] of your experiences, ”Alfaro said. “This is the kind of shared knowledge that we bring to Moneda Moves.”

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Lyanne Alfaro’s post Making Financial Literacy More Accessible to Latinos appeared first on In The Know.

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