FAU poll finds mixed finances and limited emergency savings among Hispanic adults
The national third-quarter survey found 51% lacked savings for a $500 emergency, while half reported better finances than a year earlier.
Key Takeaways
- •FAU surveyed 506 Hispanic adults nationwide, rather than a South Florida-only sample.
- •The sentiment index stood at 75.22, compared with 76.01 in the second quarter.
- •Groceries led respondents’ reported household price pressures.
Half of Hispanic adults surveyed nationwide by Florida Atlantic University said their finances had improved from a year earlier, but 51% reported insufficient savings for a $500 emergency without using credit or borrowing. The findings show the difference between respondents’ views of their recent finances and their ability to absorb an unexpected bill.
The university’s Business and Economic Polling Initiative surveyed 506 Hispanic adults between July 1 and Sept. 30. The results describe national Hispanic consumer sentiment, rather than conditions measured specifically in Miami or South Florida.
Different views of finances and the economy
FAU’s Hispanic Consumer Sentiment Index registered 75.22 in the third quarter, compared with 76.01 in the second. That is a decline of 0.79 index points, not a percentage change. The share expecting favorable business conditions over the next year was 40%, compared with 45% in the previous quarter.
Views on large household purchases moved the other way: 47% considered it a favorable time to buy, compared with 42% in the second quarter. These are answers to separate questions, and the published summaries do not establish that the quarter-to-quarter differences are statistically significant.
Groceries and emergency savings
Groceries and food were the largest source of household price increases reported by 54% of respondents. That is a measure of participants’ experiences, not an independently measured grocery inflation rate. On emergency savings, 43% said they could cover an unexpected $500 bill without credit or borrowing, while 6% were unsure.
The online survey was conducted through RepData and weighted to the national Hispanic population using American Community Survey data. FAU reports a margin of error of plus or minus 4.36 percentage points. The results reflect the July-to-September survey period, rather than a new measurement of household finances in late October.
