Talking about money is always difficult. But for Latinos in the Los Angeles area, it appears to be especially unpleasant.
According to a new survey, Latinos say they feel more comfortable talking about sex with friends or family members than they do discussing their finances.
About 41% of Latinos in L.A. and Orange counties say it’s difficult to talk about personal finances, according to a survey by Wells Fargo. Only 38% say the same thing about sex.
In fact, local Latinos prefer discussing death, religion and taxes to finances, according to the poll. Among major topics, only politics ranked as tougher to discuss, with 43% of people seeing it that way.
The difficulty in delving into their finances isn’t unique to Latinos, according to the report.
Among all ethnic groups in Los Angeles, 42% rate discussing finances as difficult. For the country as a whole, it’s 44%.
However, the survey spotlighted the financial stress facing Latinos, which often exceeds the nation as a whole.
Only 28% of local Latinos feel they are in good or great financial shape to be able to retire comfortably. That compares with 33% of adults across the nation.
Only 32% of Latinos report having sufficient emergency savings, compared with four in 10 people nationally.
About one in three local married Latinos report having heated discussions with a spouse about money and household finances. That compares with a bit more than 24% of all people in L.A. and 25% of people nationwide.
Follow Walter Hamilton on Twitter @LATwalter