What we grew up with and how we are relearning. 

Growing up in a Latino household, many of us heard these kinds of phrases, "Don’t get a credit card, it’s a trap to get you into debt," "Keep your money in a safe, not the bank," or my personal favorite, "If you leave your purse on the floor, you’ll lose your money!"

There is an economy within the United States worth $4.4 trillion.

If it stood alone, it would rank as the world’s fourth-largest economy, behind only the United States, China, and Germany, and ahead of Japan. Its consumers spend nearly $3 trillion a year. College attainment rose 144.5 percent between 2010 and 2024, more than three times the rate of the rest of the country. Its businesses are growing nearly seven times faster than others. And in 2024, its workforce expanded 5.5 percent, the strongest growth on record.

I. Introduction: 

If you’ve ever thought, “I should probably be doing something to improve my financial situation,” but weren’t sure where to start, you’re not alone.

Many people feel stuck when it comes to money. There can be confusion about where to begin, analysis paralysis from having too many options, or quiet guilt from feeling like you should already have everything figured out. It can be overwhelming, especially when it seems like everyone around you has a plan and you don’t.

Through the partnership between the Hispanic Access Foundation and Thrivent, this blog was created to support individuals and families in taking practical steps toward greater financial well-being. We recognize that financial journeys are not one-size-fits-all. Many families are balancing immediate needs while supporting loved ones, building for future generations, and navigating systems that may not always feel accessible.

The good news is this: anyone can build a strong financial foundation, no matter where they’re starting from. It doesn’t require perfection, and it doesn’t happen overnight. It happens through simple, intentional steps taken over time. The most important thing is that you start where you are.

So, with that in mind, let’s get started!

II. Start with your “why”

Before focusing on numbers or financial strategies, it’s important to pause and ask yourself a more fundamental question: What matters most to you, and why does money matter to you in the first place?

Every decision we make, financial or otherwise, is influenced by our values, even if we’re not always aware of it. We show up for work because security matters to us. We spend time with family because connection matters. We save for the future because stability or freedom matters.

Money itself is simply a tool. How we use it is shaped by what we value most.

When people say they want to be “better with money,” they’re often expressing something deeper. They want to feel less stressed. They want to provide for their family. They want more confidence, flexibility, or peace of mind. Those desires point directly to their values.

Understanding your values brings clarity to money decisions that can otherwise feel conflicting. It’s much easier to decide how to spend, save, or prioritize when you know what you’re ultimately trying

to support with your money. Your values act like filters, helping you sort through options and focus on what truly means the most to you.

III. A Simple Framework: Your Financial Life as a House

At Thrivent, we like to think about finances as a house that’s built over time.

A strong house doesn’t begin with paint colors or a roof; it starts with a solid foundation. Without that foundation, everything built on top becomes vulnerable. The same is true for your financial life.

Your financial plan is built in phases, based on your current circumstances and future goals. That foundation consists of a few essential building blocks that support everything else. Once those pieces are in place, more advanced decisions like investing, long-term planning, or legacy planning become more manageable and sustainable.

Let’s explore a few key actions you can take to start building your foundation now.

IV. Four money moves that build your financial foundation

A. Managing Your Debt

Debt is one of the most common obstacles that people face financially. For many, it also carries emotional weight such as stress, embarrassment, or frustration, but having debt isn’t a failure. It’s often the result of education, emergencies, transitions, or simply trying to get by as best as you can.

The most important thing to do if you have debt is to develop a plan to get out of it, not feel ashamed about it.

That starts with understanding your debt by improving visibility and organization:

1) Know what you owe

2) Understand interest rates and due dates

3) Determine how debt fits into your overall financial picture

4) Select a strategy that helps you get out of debt the fastest

When it comes to paying off debt, progress matters more than speed. The key is moving forward intentionally, with patience and grace. Every step you take builds confidence and moves you closer to financial stability.

B. Understanding your spending

One of the most impactful steps you can take to improve your finances is to understand where your money is actually going, without judgment.

This means getting a clear picture of:

1) Your take-home income (what lands in your bank account)

2) Your fixed expenses (the costs that don’t change much from month to month, like housing cost)

3) Your variable expenses (the costs that fluctuate, like food, entertainment, and travel costs)

4) Your debt payments

For many people, spending decisions are shaped by responsibilities beyond themselves, which can make traditional budgeting advice feel difficult to apply. But once you understand where your money is going, you can start to create a spending plan that reflects your values and real-life priorities.

A common guideline many people use is the 50/30/20 approach, which suggests that you allocate your money into the following:

• 50% towards needs

• 30% towards wants

• 20% towards savings/debt payments

This isn’t a strict rule, it’s just a starting point. Your life, income, and priorities may shift those numbers, but the main point is that you’re being intentional and making conscious tradeoffs that reflect what’s important to you. When you understand your spending, money feels less overwhelming and you begin to feel more in control.

C. Building Emergency Savings

Emergencies are not hypothetical. Cars break down, medical bills come up, and jobs change. Even when things are going well, life can be unpredictable.

Having savings set aside can help protect you and your family from turning short-term challenges into long-term setbacks.

As you begin building your emergency fund, setting benchmarks can make the goal feel more manageable. Common benchmarks include saving one, three, or six months’ worth of expenses in place to act as a cushion.

For many households, especially those supporting extended family or earning a lower income, building a healthy savings may take time, and that’s completely ok.

It’s not necessarily about how much you save each month. It’s about building the habit of saving consistently.

D. Protecting What Makes Everything Else Possible

One of your most valuable financial assets is your ability to earn income. Your income supports your daily needs, your family, and your future goals. If illness or injury interferes with your ability to earn an income, the impact can be significant. That’s where protection strategies can come into play.

Tools like disability and life insurance help ensure that unexpected events don’t turn into financial crises. Having protection in place is not about fear, it’s about being prepared and caring for the people that depend on you. Protecting your income helps keep the rest of your financial house standing even during difficult seasons.

If you’d like help deciding what protection options may make sense for you and your family, visit Thrivent.com for more information.

V. The First Step is Simply Starting

You don’t need to have all the answers today and you don’t need to wait until you feel “ready.”

Building a strong financial foundation begins with:

• Understanding what matters most to you
• Gaining clarity about where you are today
• Getting organized and putting key protections in place
• Taking one intentional step forward

At the Hispanic Access Foundation and Thrivent, we believe financial education should be accessible, relevant, and rooted in community support.

Financial wellness isn’t about perfection. It’s about building a future that reflects your values, supports your loved ones, and creates greater stability for the future. Every small step forward matters, and you don’t have to navigate the journey alone.

Wherever you’re starting from, take one intentional step forward today, whether that’s reviewing your spending, setting a small savings goal, or simply reflecting on what matters to you.

Remember, building a solid foundation is not about getting everything perfect; It’s simply about beginning.

About the Author

Ugochi Okwu-Lawrence is a Senior Financial Education Specialist at Thrivent, developing content and materials that educate communities about how to improve their financial well-being.

• The Hispanic Access Foundation is not affiliated with Thrivent or its affiliates.

 

Cómo construir una base financiera sólida

I. Introducción:  

¿Sientes que deberías mejorar tus finanzas, pero no sabes por dónde empezar? No estás solo.

A muchas personas el dinero las hace sentir estancadas. A veces es la confusión de no saber por dónde comenzar, la parálisis de tener demasiadas opciones, o esa culpa silenciosa de sentir que ya deberías tener todo resuelto. Puede ser abrumador, sobre todo cuando parece que todos a tu alrededor tienen un plan y tú no. 

Este blog nace de la alianza entre la Hispanic Access Foundation y Thrivent para acompañar a las personas y familias que quieren dar pasos prácticos hacia un mayor bienestar financiero. Sabemos que no hay un único camino que les sirva a todos. Muchas familias atienden necesidades inmediatas mientras apoyan a sus seres queridos, construyen un legado para las generaciones que vienen y se abren paso en sistemas que no siempre se sienten al alcance.  

La buena noticia es esta: cualquiera puede sentar unas bases financieras sólidas, sin importar desde dónde parta. No requiere perfección, y no sucede de la noche a la mañana. Se logra con pasos simples e intencionales, que se dan con el tiempo. Lo más importante es que empieces donde estás. 

Con eso en mente, ¡comencemos! 

II. Empieza por tu "porqué”

Antes de concentrarte en números o estrategias financieras, vale la pena hacer una pausa y plantearte una pregunta más profunda: ¿qué es lo que más te importa? y, para empezar, ¿por qué te importa el dinero? 

En todas las decisiones que tomamos, financieras o no, influyen nuestros valores, aunque no siempre nos demos cuenta. Vamos al trabajo porque nos importa la seguridad. Pasamos tiempo en familia porque nos importa la conexión. Ahorramos para el futuro porque nos importa la estabilidad o la libertad. 

El dinero, en sí mismo, es solo una herramienta. La forma en que lo usamos refleja lo que más valoramos. 

Cuando alguien dice que quiere "manejar mejor su dinero", casi siempre está expresando algo más profundo. Quiere sentir menos estrés. Quiere mantener a su familia. Quiere más confianza, más flexibilidad o más tranquilidad. Esos deseos apuntan directamente a sus valores. 

Tener bien definidos tus valores aclara decisiones de dinero que de otro modo pueden parecer contradictorias. Es mucho más fácil decidir cómo gastar, ahorrar o priorizar cuando sabes qué es lo que en el fondo quieres sostener con tu dinero. 

Tus valores funcionan como filtros: te ayudan a descartar opciones y a concentrarte en lo que de verdad te importa. 

III. Un marco simple: tus finanzas como una casa 

En Thrivent nos gusta pensar en las finanzas como una casa que se construye con el tiempo. 

Una casa sólida no empieza por los colores de la pintura ni por el techo; empieza por una buena base. Sin esa base, todo lo que se construya encima queda vulnerable. Lo mismo pasa con tu vida financiera. 

Tu plan financiero se construye por etapas, según tus circunstancias actuales y tus metas a futuro. La base se forma de unos cuantos bloques esenciales que sostienen todo lo demás. Una vez que esas piezas están en su lugar, las decisiones más avanzadas, como invertir, planear a largo plazo o dejar un legado, se vuelven más manejables y sostenibles. 

Veamos algunas acciones clave con las que puedes empezar a construir tu base desde hoy. 

IV. Cuatro movimientos de dinero que construyen tu base financiera 

A. Controla tus deudas 

Las deudas son uno de los obstáculos financieros más comunes. Para muchos, además, traen una carga emocional de estrés, vergüenza o frustración. Pero tener deudas no es un fracaso. Suele ser el resultado de estudiar, de una emergencia, de una etapa de transición o, simplemente, de salir adelante como mejor se puede.  

Si tienes deudas, lo más importante no es avergonzarte de ellas, sino armar un plan para salir. 

Eso empieza por entender tus deudas, darles visibilidad y ponerlas en orden: 

1. Conoce cuánto debes 

2. Entiende las tasas de interés y las fechas de pago 

3. Determina cómo encajan tus deudas en tu panorama financiero general 

4. Elige la estrategia que te saque de las deudas más rápido 

A la hora de pagar deudas, avanzar importa más que ir rápido. La clave es seguir adelante con intención, paciencia y compasión contigo mismo. Cada paso que das te da confianza y te acerca a la estabilidad financiera.  

B. Entiende tus gastos 

Uno de los pasos de mayor impacto para mejorar tus finanzas es entender en qué se va realmente tu dinero, sin juzgarte.  

Eso significa tener un panorama claro de: 

1) Tu ingreso neto (lo que llega a tu cuenta de banco) 

2) Tus gastos fijos (los que casi no cambian de un mes a otro, como la vivienda) 

3) Tus gastos variables (los que suben y bajan, como comida, entretenimiento y transporte) 

4) Tus pagos de deudas 

Para muchas personas, las decisiones de gasto responden a responsabilidades que van más allá de uno mismo, y eso puede hacer que los consejos tradicionales de presupuesto se sientan difíciles de aplicar. Pero cuando entiendes en qué se va tu dinero, puedes empezar a crear un plan de gastos que refleje tus valores y tus prioridades reales.   

Una guía que mucha gente usa es el método 50/30/20, que sugiere repartir tu dinero así: 

• 50 % para necesidades 

• 30 % para gustos 

• 20 % para ahorro y pago de deudas 

No es una regla estricta; es solo un punto de partida. Tu vida, tus ingresos y tus prioridades pueden mover esos números. Pero lo esencial es que actúes con intención y hagas renuncias conscientes que reflejen lo que te importa. Cuando entiendes tus gastos, el dinero abruma menos y empiezas a sentir que tienes más control.   

C. Crea un fondo de ahorro para emergencias  

Las emergencias no son hipotéticas. Los autos se descomponen, llegan cuentas médicas, los trabajos cambian. Aun cuando todo va bien, la vida puede ser impredecible.

Tener un ahorro aparte ayuda a protegerte a ti y a tu familia de que un problema de corto plazo se convierta en un tropiezo de largo plazo.  

Cuando empieces a construir tu fondo de emergencias, fijar metas hace que el objetivo se sienta más alcanzable. Las referencias más comunes son juntar el equivalente a uno, tres o seis meses de gastos como colchón.  

Para muchos hogares, sobre todo los que apoyan a la familia extendida o tienen ingresos más bajos, juntar un buen ahorro puede tomar tiempo, y eso está perfectamente bien.  

No se trata tanto de cuánto ahorras cada mes, sino de crear el hábito de ahorrar con constancia. 

D. Protege lo que hace posible todo lo demás 

Uno de tus activos financieros más valiosos es tu capacidad de generar ingresos. Tu ingreso sostiene tus necesidades diarias, a tu familia y tus metas a futuro. Si una enfermedad o un accidente interfiere en tu capacidad de trabajar, el impacto puede ser significativo. Ahí es donde entran en juego las estrategias de protección.

Herramientas como el seguro de vida y el seguro por discapacidad ayudan a evitar que un imprevisto se convierta en una crisis financiera. Tener protección no es cuestión de miedo, sino de prepararse y cuidar a las personas que dependen de ti. Proteger tu ingreso ayuda a que el resto de tu casa financiera se mantenga en pie incluso en las temporadas difíciles.

Si quieres ayuda para decidir qué opciones de protección tienen sentido para ti y tu familia, visita Thrivent.com para más información.

V. El primer paso es simplemente empezar 

No necesitas tener todas las respuestas hoy y no necesitas esperar hasta que te sientas “listo”. 

Construir una base financiera sólida empieza por: 

• Entender qué es lo que más te importa 

• Tener claridad sobre dónde estás hoy 

• Ordenarte y poner en su lugar las protecciones clave 

• Dar un paso adelante con intención 

En la Hispanic Access Foundation y Thrivent, creemos que la educación financiera debe ser accesible, relevante y estar arraigada en el apoyo de la comunidad.  

El bienestar financiero no se trata de perfección. Se trata de construir un futuro que refleje tus valores, sostenga a tus seres queridos y te dé mayor estabilidad. Cada pequeño paso cuenta, y no tienes que recorrer el camino solo.  

Empieces donde empieces, da hoy un paso con intención: revisa tus gastos, fija una pequeña meta de ahorro o simplemente reflexiona sobre lo que te importa.  

Recuerda: unos cimientos sólidos no se logran haciéndolo todo perfecto; se logran, simplemente, empezando.

Sobre la autora

Ugochi Okwu-Lawrence es especialista sénior en educación financiera en Thrivent, donde desarrolla contenidos y materiales que ayudan a las comunidades a mejorar su bienestar financiero.  

Los productos y servicios de Thrivent podrían estar disponibles sólo en inglés. Esta traducción se proporciona con fines informativos.

* La Hispanic Access Foundation no está afiliada con Thrivent o sus afiliados.

 

The Latino economy reached $4.4 trillion in 2024, according to the Latino GDP Report 2026 from researchers at UCLA and California Lutheran University. If it stood alone, it would rank as the world’s fourth-largest economy, ahead of Japan. Latino consumer spending hit $3 trillion. College attainment grew 144.5% in 14 years. Hispanic-owned businesses expanded nearly seven times faster than others. The workforce grew 5.5% last year alone.

Latinos are already a powerful engine of American prosperity. Yet systemic barriers in representation, investment, and participation continue to limit how much influence and power Latino communities can exercise. This is the core problem in our Theory of Change. These barriers don’t just constrain Latino families, they constrain the nation’s shared prosperity.

Lesson we are learning together: Economic power without systemic voice leaves potential on the table. The data proves Latino growth is accelerating through education, entrepreneurship, and natural demographic strength. But until leaders from these communities have real seats at decision-making tables, that growth will remain impressive yet incomplete.

At Hispanic Access Foundation, we have a clear theory: Leadership + Networks = Systems Change. We walk alongside leaders who already hold trust in their communities, faith, civic, cultural, and grassroots changemakers across the country. We strengthen their capacity in health, economic mobility, and access to nature. Most importantly, we connect them to one another so they can lead together. You can explore our Theory of Change and how this work comes to life at hispanicaccess.org.

This work is not new. Since 2010 we have built trusted relationships. Since 2018 we have strengthened our organizational capacity to scale what works. This season we are launching the permanent infrastructure that makes systems change possible: The Hispanic Access Leadership Institute for deep leadership formation, the Hispanic Access APP to connect leaders, share stories, and coordinate action, and Regional Networks expanding toward 50 networks that turn local trust into regional and national influence. Our goal: 10,000 Latino leaders across 50 Regional Networks by 2036.

Lesson we are learning together: Infrastructure multiplies trust. The Institute, the APP, and the Regional Networks are the durable architecture that allows relationships to compound. When leaders have the tools and networks to act together, impact moves from linear to exponential, and conditions actually shift.

What This Season Taught Us: When we invest in trusted leaders and connect them through lasting infrastructure, we turn economic contribution into Systems Change. The silent engine becomes the visible force that helps shape policies, investments, and narratives for a thriving nation.

This is the future we are building together.

If you lead in your community, we want to walk with you. If you fund or partner on this work, let’s talk. Share your lesson in the comments, we are learning together.

Paz y Adelante.

Being present at Capital Ocean Week allowed me to be seen and heard differently. As a first-generation Hispanic woman in the sciences, my voice is often drowned out by others’ noise. Yet, near the water, all those voices fade, replaced by the sound of waves. In that quiet, I reconnect with my inner voice—the same one that advocates for communities that need it most. It reminds me why I chose this path and to whom I am accountable.

As a Puerto Rican, born and raised on an island surrounded by the sea, my relationship with the ocean has always been about much more than admiring its beauty. The ocean is part of our identity, culture, and way of life. That is why participating in Capitol Hill Ocean Week (CHOW) 2026 through Hispanic Access Foundation was a deeply meaningful experience.