Black Americans have been systemically impacted from centuries of institutional barricades to economic well-being. In order to break those cycles, financial literacy is critical. And it starts with our children.
Raising financially savvy children can be difficult when there are so many pieces to the puzzle that we are missing. That doesn't mean that there aren't any guidelines to follow. Teaching children the value of money is more accessible than it seems.
Allowing kids to contribute to weekly menus and shopping lists can teach them what a budget is and how to stick to one. Another option is allowance. An allowance system and an attached bank account teach the value of saving, banking, and managing their money.
Educating Black children about how money affects their lives is a crucial step in breaking financially-unwise cycles. Ensuring that future generations exceed our financial expectations can keep them from repeating past mistakes. It makes our community stronger in the long run.