I truly believe that financial literacy for all -is the fastest way to ensure that we live up to the great American ideals of life, liberty and the pursuit of happiness.
Let me explain.
Wealth changes every aspect of our lives. Some of these things are obvious, like the more wealth you have – the better neighborhood you are able to live in. Or the more likely you are able to afford activities such as travel or leisure time with family and friends.
However, wealth impacts other less obvious aspects of our experience as well. From how long we live, to the type of education we are able to access, to our access to good healthcare.
I don’t pretend to think that money can alleviate all aspects of systematic bias. It can’t. But it sure can help close some gaps.
And, if improving your own life and the life of your family isn’t a compelling enough reason for you to embrace wealth and financial literacy – I want to talk about giving back and improving our communities.
Did you know, that Black Americans give a larger share of their wealth to charities than any other racial group in America? In fact, nearly two-thirds of Black households donate to community-based organizations and causes, to the tune of $11 billion each year. Additionally, sixty-three percent of Latino households now make charitable donations. Additionally, studies show that women of all races give more of both their time and money than men.
The racial wealth gap. And, the gender wealth gap.
The typical White family has eight times the wealth of the typical Black family and five times the wealth of the typical Hispanic family. And, on average women in the United States own a mere 32 cents to every dollar that men own.
I want to help change those statistics through education and financial literary.
Given these statistics – you can see that women and POCs building wealth can be revolutionary.