Jan 31, 2022
Building Financial Freedom and Wealth in the Black Community
By Stash Team
Learn more about the biggest financial issues facing Black Americans.
It’s Black History Month, a time to celebrate and support the Black community, while also reflecting on the financial obstacles faced by Black Americans.
In recent years, the history of racism towards Black Americans has received increasing attention, with companies and politicians making promises to address the many injustices still facing this demographic. Meanwhile, the Covid-19 pandemic has also been especially hard on Black Americans, who’ve experienced a higher unemployment rate than any other racial group in the U.S. Even as the economy has started to recover, the Black unemployment rate increased, while the unemployment rates for white, Hispanic, and Asian Americans fell.
To honor Black History Month, Stash is taking a look at some of the most pressing financial issues affecting the Black community, such as student loan debt, the homeownership gap, and the lack of Black leadership at Fortune 500 companies. We also offer some insights into how anyone can improve their financial lives.
Plus, listen to Stash’s podcast Teach Me How to Money, the go-to personal finance podcast for everything you want to know about your money. These episodes feature Black personal finance experts discussing top money issues.
Investing in Black-Owned Businesses
Black-led businesses make up a small percentage of businesses in the U.S, and most of them are private. You can still support these businesses through non-profits, crowdfunding, and more.
All About the Homeownership Gap for Black Americans
Black Americans continue to experience a gap in homeownership due to redlining, the practice of denying mortgages to people, usually people of color, from certain neighborhoods.
Why Student Debt Hits Black Americans Hardest
Students are taking on more debt than ever for an education, and Black Americans are reportedly facing more of the burden than other demographics.
Where are the Black CEOS at Big Companies?
Fortune 500 companies fall short when it comes to hiring Black professionals and fostering their careers.
How One Couple Paid Off $200k in Debt
The cofounder of personal finance website Rich & Regular weighs in.
Teach Me How to Money
Podcast: Why Finance Isn't Just a Man's World with Bola Sokunbi
Hey, it’s a fact: Women do money differently than men. In this episode of Teach Me How to Money, financial educator Bola Sokunbi talks about how she addresses women’s needs when it comes to personal finance—and why it’s okay to get emotional.
Podcast: How to Tackle Student Loans and Other Debt with Anthony ONeal
Maybe you don’t have to go to college after all. In this episode of Teach Me How to Money, financial expert and author Anthony ONeal shares his experiences of getting into—and out of—massive college debt. Now, he advises most young people to think carefully before taking out those educational loans, and explains what the other alternatives are.
Podcast: How to Pay Off My Debt with Tiffany “The Budgetnista” Aliche
Tiffany “The Budgetnista” Aliche talks about how she dug herself out of a 5-figure debt sinkhole (and a foreclosure) and became an advocate for others like her.
Podcast: How to Be an Everyday Millionaire with Chris Hogan
On this week’s episode of Teach Me How to Money, Chris Hogan, financial expert and author of “Everyday Millionaires”, teaches us how to get into the millionaire mindset and set your sights on a goal you can attain.
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