This is a compensated campaign in collaboration with CHASE and #WeAllGrow Latina Network
There are many different myths that I have heard all my life about money. The one that I heard the most is never to put your purse on the floor. If you do, you risk your money “leaving you” My Latina friends instantly smile at me when I tell them to pick up their purse from the floor 🙂 I know, it is superstition, but I do everything I can to protect my hard earned money. Ready to Debunk Handed Down Financial Savings Latino Tips with me?
Handed Down Financial Savings Tips
Dipping your hand in a bowl filled with lentils will bring your riches. While there is no harm in rubbing the lentils if there is a bowl set for just that, hard work, savings, and smart financial decisions is what will bring us the monetary benefits we seek. Let’s see which Handed Down Financial Latino Tips ring true:
Keeping your money at home is the way to go:
OK, so luckily I think today no one keeps their money under the mattress. Keeping money “debajo del colchón” (under the mattress) puts us all at risk of getting our homes robbed. What if a hurricane comes and takes all your money? No need to worry about that old practice. But just in case, don’t keep your savings at home. Get the benefit of earning interest at the bank on it and let them guard your money. 
People that save are unhappy because they deprive themselves:
To save does not mean you are never ever going to buy the things you like. It just means that you need to spend intelligently and be clear what is a need or a want. Of those wants, evaluate which you can’t live without, and which you can forgo for a bigger reward in the future. Dying to buy that expensive dress? What if instead, you keep focussed on your savings which in turn will give you that amazing trip around the world you are dreaming about plus an opportunity to wear a better dress somewhere amazing?
Saving is for people with lots of money:
People with a very limited income seem not to have anything left to save after paying for basic needs. Nevertheless, financial planning, discipline, and perseverance will offer a chance to save. “De grano en grano llena el buche la gallina” (the hen fills up grain by grain) No amount is too small or too large to save. The important thing is to start and do it. Before long, you will be pleasantly surprised at how big your savings pile has become.
Talking Fraud Plus Three Simple Steps to Prevent it
I believe that keeping your money under the mattress was a primitive way of trying to keep the money safe. Today with so many horror stories about money fraud, there are three great tips from Chase. These tips are easy, simple and will give us great peace of mind. Here they are:
Sometimes even if you know, you still need to take steps to get the desired results. I for one downloaded my Chase app and I LOVE it! Not only can I at a glance make sure everything is under control, I do all my banking in a heartbeat and easily. Did you sign up for paperless statements already? I did too. Mom prefers her paper statements. Bottom line, like Chase recommends, go over your statements and contact them the minute your find anything inaccurate.
This is just the tip of the iceberg, Chase does offer much more on fraud security, learn more here. www.chase.com/fraudsecurity.
Go ahead watch the video again. Now tell me, have you taken these simple steps to protect yourself already?
This is a sponsored conversation written by me on behalf of CHASE. The opinions and text are all mine.
Privacy -Disclosure
When my Papa passed away, my nana found cash tucked EVERYWHERE around the house. There’s probably still some left around the house to this day.
Saving is smart and I dont feel deprived. I am able to go on vacations
Good to know! Protecting money is so important.
As you say , “financial planning, discipline, and perseverance will offer a chance to save.” Even if you save as little as $5-$10 a month, by the end of the year you will have $60- $120 in your favor. All you have to do is set goals and get a “rainy-day” savings account, that way you don’t use the money. 🙂
Thank you for this great info, it is so good to know. Saving money is so important for me.
I’m latina myself and know these too well. I won’t put my purse on the floor but I also don’t leave money hidden in my home haha.
These are some great advice to protect money!
I haven’t heard these, but they are interesting! Fun to know!
I love discovering myths. It is just part of the culture.
These are definitely myths. It’s good to open a savings account so that you won’t get tempted to touch your money. It also doesn’t mean that you’re depriving yourself, besides if you buy what you need and lay off those that you don’t need does that mean you’re limiting yourself or are you just avoiding unnecessary costs?
You are right Elizabeth. The good thing is that we can look beyond the myths and be prepared for a rainy day.
Some of these myths sound a little wacky. How about just be sensible and save each week / month??
I couldn’t agree more with you Laura. No time like today to take hold of your finances
I love superstitions they can be fun! I have never heard the sticking your hand in lentils one before.
I love it when you share about culture like you have here. Thanks for debunking and sharing tips to keep financially protected
I believe in many myths especially if it will be about financials.
Great tips on how to protect your money! We could all use this!
I’ve seen iffy things pop up on my statements. It def. pays to look at them every single time.
I didn’t grow up in a family that believed in saving their money. I’m making sure I teach my kids how important it is to save for their future.
Touching lentils? These are definitely things I’ve never heard before! lol
Thank you so much for this. Saving is a very important thing to teach kids for their future. Keep those helpful tips coming.