According to data compiled by the BMO Real Financial Progress Index, this year Latinos in the United States plan to increase their spending during the holiday season.

According to the analysis, the average spending among Latino families in the US is estimated to be $2,700 dollars by the end of 2025 compared to $2,050 last year, representing a 30% increase.

Regarding this, Lizzy Diaz-Ortiz, Vice President of Hispanic/Latino Banking at BMO, commented, “Family celebrations are central to Latino holiday traditions, but rising costs are forcing many people to rethink their plans.”

This year, inflation remained persistently high, keeping food, goods, and services prices elevated, leading many households to reduce their discretionary spending. budgets.

In this regard, Diaz-Ortiz noted that “our survey data serves as a reminder of the economic pressure currently facing Latino consumers. Budgeting and intentional planning can help families preserve what matters most without impacting their financial progress.”

However, Latinos are organizing their finances to make the most common purchases and participate in the season's activities, including They found: travel, home decor, and gifts, as 51% of those surveyed stated that these are much more important than saving. The research revealed that Latinos plan to spend an average of $210 on travel, while they will allocate about $260 on home decor. “Travel is an expense that can quickly deplete the family budget if it is not carefully planned and costs are not kept under control,” added Diaz-Ortiz.