Self-Help Shares

This week is National Retirement Security Week, which encourages a focus on increasing retirement savings, expanding financial literacy, and improving the retirement security of all people in the United States. Saving to reach your financial goals is important, and saving adequately for a happy, safe, and healthy retirement should be one of those goals regardless of whether you’re new to the job market or have built a successful career.  

However, understanding how to save for retirement can be intimidating – many people put it off because they don’t know where to start.  

As we continue to witness the destruction from Hurricane Helene and prepare for Hurricane Milton, Self-Help is committed to supporting our members through this challenging time. We've compiled a list of resources and services to help you recover from the storm and prepare for any additional storms for the remainder of hurricane season.

September 15-October 15 is Latino/Hispanic Heritage Month, which is a time to honor the history, culture, and contributions of Latino/Hispanic American communities. September 15 was chosen as the start of this month-long celebration because it coincides with the Independence Day celebrations of five Latin American countries (Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua).

In honor of this month, Self-Help is focusing on how we can support economic opportunity for our Latino/Hispanic communities. For this blog post, we asked a handful of the incredible Latino/Hispanic experts at Self-Help: What is one unique financial challenge and/or opportunity that you have observed within the Latino/Hispanic community, and what advice would you offer to help navigate this?

We are excited to share their responses with you!

Electric vehicles (EVs) are becoming increasingly popular, and we can understand why. They’re better for the environment and – we're told – better for our wallets. But with the higher starting purchase prices of many EVs, do they really end up saving you money?

In this blog post, we will discuss the current market of EVs, the pros and cons of choosing an electric vehicle for your next car, and how much you might be able to save.

^{CheSa is the owner of CheSa's Bistro and Bar in Chicago, IL.} 

August is Black Business Month, and we are honored to be celebrating the accomplishments of all the incredible Black-owned businesses that have enriched our communities.

CheSa is one such business owner in Chicago, and her story of determination, creativity, and resilience is an incredible reminder of what it means to adapt in pursuit of a dream.

^{Images of owners of businesses that Self-Help has worked with}

Happy Black-owned Business Month! At Self-Help, we are honored to celebrate and support Black entrepreneurs.

In 2021, only 2.8% of businesses in the U.S. were Black-owned, even though Black people make up roughly 14% of the country’s population.¹ This discrepancy is why it’s important to make conscious efforts to champion Black-owned businesses. At Self-Help, we believe that entrepreneurs of all backgrounds should have the opportunity to succeed, but there are many barriers to racially equitable business ownership.

In this post, we will discuss the potential reasons for why there are so few Black-owned businesses and why community banks and community development financial institutions (CDFIs) can serve as an important resource.