Hey Everyone! So this is a series that I’ve had in my head for quite some time now, and I’m happy to finally be bringing it to the blog. As you all know, I always have my head in a book and my latest reading du jour have been of the financial variety. Finances are SO important; they are the bedrock of a stable living situation. Personal finance is of particular interest to me as it relates to black women because, historically, our culture has not been the most educated in that regard. Whether you loved or hated the Insight Center’s recent study of the “$5 net worth” of black women you can’t deny that it’s time that we not only as a people, but as individuals, step up to the plate and take control of our money. This video is a first in my effort to do just that. Comment below (or on my YouTube Channel) to let me know what you think.
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Great video! I so feel like I should have been interviewed because even at 22 I have a lot to say when it comes to personal finances and how I’ve come along way with managing and building my wealth. I think the nail was hit on the head. Excessive spending and a lack of diligent saving is a problem that plagues women in general. You know its ‘cute’ to be frivolous, but the story isn’t told about how ugly the reality of those implications can be. Ever starred at an account statement to see you have less than <$50 in your checking account and don't get paid for another week? Sadly I have and it isn't cute! I've learned from that and am on a path of proper management through a honest evaluation of my money habits.
Again I loved the video can't wait for your next episode! I'll be watching with a pen girl!
This is a great video i love the woman who was talking about real estate she seem to be the only person that was close to being on track then the others because she was thinking about the future and knew that working a job which is not bad in the short term but very hard in the long run the flipside of that is building wealth which is hard in the start but very easy living in the long run the book i recommend to most men and woman is Rich Dad poor dad by Robert Kiyosaki then after that for woman mostly is Rich Woman by his wife Kim Kiyosaki which she talks alot about why women are historically bad with money and how they can change and she teaches women how get ride of the myths and break threw the fears they have but yea i love that your open minded and willing to help others thats so cool
I think this video is awesome and so on point.
It’s amazing how much I look at statistics about black women and their finances, and then wondering how my will turn out. I have battled with various stages of poverty and wealth, but it seems like no matter what income I had, I still was poor. But once I decided to actively save money and pay off my consumer debt…I was relatively wealthy.
Today, I still live my version of comfortable even as some of my financial security has gone out the window.
What I know I must do is have a strong understanding of my relationship with money, and remember that I use money in exchange for what I need and sometimes what I want; It should not ‘burn a hole in my pocket’ or try to find the nearest Gap (for a while there, it was doing just that). I wish it would look for the nearest CD (certificate of deposit), or just my simple savings account, but I realize that choice is MY choice and its MY responsibility to take my money to those places first, and if some $50 is really holding on to that new pair of jeans, at least I know I have something tucked away for later, while I still can enjoy some instant gratification today.
Nice video! I currently find myself in a financial crisis as we speak; I am going into my senior of college, I’m living away from home, and I recently wrecked my car. On top of that, I have to feed myself and pay rent. I really don’t make much money at my job. It is killing me now to think that I could have had well over $10,000 from refund checks, savings, and gifts. My problem was shopping way beyond my means however, I really have nothing to show for it now! I am realizing the importance of saving money and investing in long term assests.
I love the video and I find it intriguing that one of the ladies is thinking about her future and making plans to get straighten her finances. Very inspiring. We should all try to think about the future instead of what instant gratification can buy us.
Hi! Still waiting for Part III!