Most of us weren’t taught how to manage our money. Financial literacy is not taught in schools, and many of us didn’t have role models to emulate either. Here are five ways you can up your financial literacy game on your own!
#1: Read finance books.
There are countless personal finance books out there written by Black authors that speak specifically to our community. Check out “The One Week Budget” by Tiffany “The Budgetnista” Aliche, for example, or “The Power Of Broke” by Daymond John!
#2: Learn from the experts.
Black financial gurus speak to our experience and give expert perspectives on managing money and building wealth. Check out Patrice Washington, who hosts the “Redefining Wealth” podcast, or Rich Jones and Marcus Garrett, hosts of the “Paychecks & Balances” podcast. Speaking of podcasts …
#3: Listen to finance podcasts.
In addition to the above two, there are MANY Black-led finance podcasts out there, dropping free info! Also, PushBlack’s “Black History Year” podcast did an episode on finance, and keep your eyes peeled for another PushBlack podcast, strictly about finance, coming soon!
#4: Try a beginner investment app.
Apps like Acorns and Stock Market Simulator can give you a beginner's guide to investment, so you can learn the ropes risk-free!
#5: Play a game to learn about the stock market.
Black Americans invest far less money than whites in stocks. Change that – through gaming! Games like “Wall Street Survivor” give you a FUN introduction to stocks, to reduce fear and uncertainty.