Free monthly money management workshops are available for struggling families in the Los Angeles area through the Hispanic Access Foundation’s Latino Financial Empowerment Initiative.

Finance experts will teach the classes at multiple community centers and churches in Los Angeles County.

Magali Robinson, senior director of economic mobility for the foundation, said instruction will be offered in Spanish and English.

“The topics are budgeting 101: looking at your income versus your expenses, how to begin saving, how to get out of debt, and then planning for the future,” Robinson outlined.

The classes will serve up to 150 people per month through December. Participants will also learn about different types of bank accounts, life insurance, health insurance and legal documents to protect their finances.

Robinson noted coaches will be available for one-on-one sessions after participants complete the initial class.

“We're prepared to make the investment to carve out that space and time to learn and see what changes can be done on an individual level, really tailored so that each family can be successful,” Robinson explained.

Data from the Public Policy Institute of California showed 22% of Latinos live in poverty. Latinos are about 40% of the state’s total population but make up close to half of the people living below the state poverty line.

Source: Public News Service