Although the holiday season is usually one of the most anticipated times of the year, certain activities such as holiday shopping can be really stressful and even cause financial anxiety.

Recently, a survey conducted by the BMO Real Financial Progress Index found that more than 50% of Latino respondents say they are worried about their financial situation in the last quarter of the year.

The research highlights that the Latino population in the United States shows much more concern about their family budget than the general population, but why?

Among the factors indicated by the BMO research, the concern of Latinos about their job security stands out. The job market has been tight this year, and a high unemployment rate has led 26% of those surveyed to fear potential layoffs during the holiday season. Regarding the overall economic situation, including this year's inflation, tariffs, and monetary policies, BMO mentioned in its report that in the last quarter, concerns about the impact of taxes have affected 54% of the Latino population surveyed. However, their concerns are not leading to paralysis; instead, seven out of ten Latinos (71%) are being proactive in their financial planning, changing their spending habits. This has led 46% of Latinos to do their holiday shopping early this year, taking advantage of sales and discounts, and being more cautious with their budgets.