“Racial Wealth Gap”
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In 2019, data from the Survey of Consumer Finances revealed the median white family held $184,000 in wealth compared to just $23,000 for the median Black family. This inequality is a result of various factors, including disparities in home equity, financial assets, and income.
Systemic barriers have persistently obstructed Black families from achieving economic security through employment, education, and homeownership. It’s our responsibility as the Black youth to become aware to challenge oppressive institutions and systems.
We can start by educating ourselves, learning about money, fixing our credit, saving and creating budgets, this is what is meant by “financial literacy.” We can better understand how fast food and lack of transportation impact our communities. We can mentor each other, encourage one another and hold each other accountable to our goals. We can eat healthy, take care of our bodies and talk about mental health. Working to change things internally will help us build strength physically, spiritually and mentally to demand fair treatment externally.
HELLA INSPIRED.
Systemic barriers have persistently obstructed Black families from achieving economic security through employment, education, and homeownership. It’s our responsibility as the Black youth to become aware to challenge oppressive institutions and systems.
We can start by educating ourselves, learning about money, fixing our credit, saving and creating budgets, this is what is meant by “financial literacy.” We can better understand how fast food and lack of transportation impact our communities. We can mentor each other, encourage one another and hold each other accountable to our goals. We can eat healthy, take care of our bodies and talk about mental health. Working to change things internally will help us build strength physically, spiritually and mentally to demand fair treatment externally.
HELLA INSPIRED.