Nonprofit Money Management International Reports Dramatic 54% Surge in Hispanic Clients Seeking Credit Counseling as Financial Disparities Widen

STAFFORD, Texas, March 26, 2025 (GLOBE NEWSWIRE) — Money Management International (MMI), a leading nonprofit dedicated to financial counseling and education, today announced a staggering 54% increase in Hispanic clients seeking credit counseling services in 2024—far outpacing the 31% increase among White non-Hispanic clients. 

This sharp rise underscores a growing financial crisis within Hispanic households, driven by widening income disparities, escalating housing burdens, and deepening budget deficits. 

“These numbers are more than statistics—they represent families struggling to make ends meet,” said Emanuel Rivero, Vice President of Operations at MMI. “With incomes failing to keep pace with inflation and financial safety nets stretched dangerously thin, many Hispanic households are turning to credit counseling as a last resort. At MMI, we are committed to providing culturally relevant, language-accessible financial solutions to help navigate these challenges.” 

Key Financial Trends Among Hispanic Households in 2024: 

Explosive Growth in Credit Counseling Demand: Hispanic individuals now account for 28% of MMI’s credit counseling clients, with demand skyrocketing 54% year-over-year, compared to a 31% increase among White non-Hispanic clients. 

Surging Need for Spanish-Language Financial Support: The number of clients receiving financial counseling in Spanish has soared by 135% in 2024, emphasizing the critical demand for culturally tailored financial guidance. 

Worsening Income Inequality:

·   Hispanic clients report earning $15,000 less annually than White non-Hispanics ($49K vs. $64K).

·   Hispanic income growth in 2024 was 4%, significantly trailing the 10% increase for White non-Hispanics.

·   While budget deficits persist across all demographics, the shortfall for Hispanic clients worsened by 11% YoY, while it improved by 7% YoY for White non-Hispanic clients. 

Housing Costs Disproportionately Impact Hispanic Families: Although Hispanic and White non-Hispanic clients spend comparable amounts on housing, Hispanic households allocate a significantly higher percentage of their income toward these costs (27.5% vs. 23%), leaving them with less financial flexibility and greater vulnerability to economic shocks. 

Limited Access to Credit Presents Additional Hurdles:

·   Hispanic clients carry lower unsecured debt ($24K) compared to White non-Hispanic clients ($32K), likely reflecting reduced access to credit rather than lower financial need.

·   Many Hispanic clients experience higher rejection rates for traditional lending, making it more difficult to consolidate debt, build credit, and achieve financial stability. 

MMI provides free and low-cost financial counseling services in English and Spanish to address these disparities. MMI delivers personalized budgeting strategies, debt repayment plans, and credit-building resources to help individuals regain control of their finances.

About MMI 

For over 65 years, Money Management International (MMI) has been at the forefront of financial health solutions, helping individuals and families break free from debt and build a secure financial future. As a trusted nonprofit leader, MMI is dedicated to transforming how Americans navigate financial challenges by providing expert guidance, innovative programs, and culturally relevant financial education. Recognized by major financial institutions and media outlets, MMI’s award-winning services support long-term financial stability and success. Learn more at MoneyManagement.org.

To schedule an interview with Emanuel Rivero and/or bilingual MMI clients, please contact: 

Thomas Nitzsche
Vice President of Public Relations
404.490.2227
Thomas.Nitzsche@MoneyManagement.org

Jackie Callaway
Media Relations
813.610.8241
Jackie.Callaway@MoneyManagement.org

Lori Geary
Lexicon Strategies
LGeary@LexiconStrategies.com

Thomas Nitzsche
Money Management International
404.490.2227
Thomas.Nitzsche@MoneyManagement.org

Jackie Callaway
Money Management International
 813.610.8241
Jackie.Callaway@MoneyManagement.org