Credit Debt Hitting Over $1 trillion, How To Deal With Stress & SBA Celebrates Latin Entrepreneurs | Wealth Wednesday

The Latin Wealth

Welcome to a new weekly series we are launching on the Latin Wealth platform, Wealth Wednesday! On Wealth Wednesday, we will be discussing trending news, Latino culture and topics surrounding business, host by @chrisbelloso and @ricoramirez86.

On today's episode we discussed:

How to deal with stress in your life

• 46% reported that they ate too much or ate unhealthily due to stress.
• 29% reported that they started drinking or increased their drinking, and 16% reported that they started smoking or increased their smoking.

Young adults are more reliant on credit cards than ever before

• The countdown until the student loan payment pause is lifted in October is ticking
  • some experts worry that once payments resume, many younger Americans will find it harder to dig themselves out of credit card debt.
  • About 53% of millennials and 41% of Gen Z respondents said they were more reliant on credit cards than ever before this summer

• Existing full- and part-time UPS workers will get $2.75 more per hour in 2023, and $7.50 more per hour over the length of a five year contract.

SBA celebrates the impact Hispanic entrepreneurs have had on the U.S. economy

• Nearly one in four new businesses is Hispanic-owned.
• The nearly 5 million Hispanic-owned businesses in the United States contribute more than $800 billion to the American economy annually.
• There are more than 300,000 Hispanic-owned, employer businesses located across all 50 states.

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