“…On one hand, when compared with other racial/ethnic groups, Hispanic families have less wealth and savings, lower rates of health insurance coverage, fewer ties to formal financial institutions, and greater employment instability, making them vulnerable to income volatility and putting them at risk for negative repercussions of such income volatility (McKernan, Ratcliffe, Simms, & Zhang, ; Murphy, Guzman, & Torres, ). On the other hand, some documented cultural and demographic characteristics associated with being Hispanic—including financial optimism, the transmission of educational values, family cohesion, and close social networks—may reduce income volatility or help to reduce its adverse effects (Aldoney & Cabrera, ; Calzada, Tamis‐LeMonda, & Yoshikawa, ; Eggebeen & Hogan, ; Marin & Gamba, ). The pan‐ethnic label of “Hispanic” also includes families who are diverse in terms of nativity, citizenship, English‐language proficiency, country of origin, and related characteristics that could shape varying experiences—favorably or unfavorably—of income volatility.…”