A Cuban woman living in the United States has taken to TikTok to share her thoughts on consumerism and debt, specifically advising her fellow Cubans to learn how to manage their finances and avoid spending on unnecessary items.
The content creator, known on TikTok as Miss_Delgado (@dayanadelgado9704), explained in a video why she believes that frequently upgrading cars or phones can lead to unnecessary financial burdens.
"The best investment you can make in this country is to put your money to work for you, and if you don't have an immediate need for it, save it. One day you might need it for an emergency or a specific situation," she advised.
She challenged the common habit of always wanting the latest phone model or a newer car when the ones people already own are still functioning well. In her view, many individuals end up with mounting debts by chasing after the latest market trends.
To illustrate her perspective, she used the example of new phones and cars that, despite their differences, continue to perform the same basic functions as their predecessors.
"What we're doing, without realizing it, is burdening ourselves with more debt," she warned.
Interestingly, the Cuban woman acknowledged having been in that situation herself. However, she now embraces a different mindset and prefers to make the most of what she already owns rather than acquiring new debt for something new.
"I tell you this because I've been there, and I no longer go through that," she confessed.
Currently, she owns an iPhone 15 and a 2024 Mercedes, which she has no intention of replacing as long as they work properly.
Her reasoning is straightforward: acquiring a new car would mean higher monthly payments, something she's unwilling to take on just to drive a newer model. For her, such decisions can be the difference between enjoying life and struggling to make ends meet.
Miss_Delgado also emphasized the rising cost of living, making it even more essential to think carefully before taking on new financial obligations.
"So pay attention to that," she concluded, stressing the importance of saving and responsibly managing money.
Her insights echo those of other Cubans who have shared their experiences with debt in the United States on social media. One such individual, Daiana Díaz, admitted that one of her biggest mistakes upon arriving in the country was financing a 2023 Honda at a 24% interest rate.
In another testimony, a Cuban in Kentucky recommended purchasing a used car and paying for it outright, rather than committing to high monthly payments for a new vehicle.
Additionally, Cuban Malia Llovet shared five habits that help her save money in the U.S., including resisting frequent phone upgrades. She used her iPhone 11 for over four years before buying another.
For Miss_Delgado, the key is not to forgo personal pleasures but to avoid unnecessary expenses and make the most of what you already have—a philosophy she learned after making financial missteps herself.
Financial Advice for Cubans in the United States
Why is it important to manage finances wisely in the United States?
Managing finances wisely is crucial in the U.S. due to the high cost of living and the potential for accumulating debt. Proper money management can prevent financial burdens and help individuals save for emergencies or other important needs.
What are some common financial mistakes made by newcomers to the U.S.?
Common financial mistakes include financing expensive items like cars at high interest rates, frequently upgrading technology unnecessarily, and not saving enough for emergencies. These can lead to increased debt and financial strain.