The Financial State of Affairs in the African-American Community – Part I

Listen To The Full Interview:

[powerpress]

I totally had a fan girl moment.

While attending FinCon in San Diego, I assembled a fabulous panel of personal finance experts for a podcast on the Trade King stage.

What do you get when you have the Money Coach – Lynnette Khalfani-Cox, the Budgetnista herself – Tiffany Aliche, Tonya Rapley of My Fab Finance, and Patrice Washington – the Steve Harvey Morning Show’s Money Maven on one podcast?

A fantastic critique on the state of personal finances.

The African-American community owns just 2% of the wealth in this country. Only 5% of African-American families in this country have a net worth over $350,000, compared to 30% of white Americans.

What are we doing wrong? What are we doing right? What do we need to do in order to light a fire for financial literacy in the African-American community? Has that fire already been lit?

This really is an engaging conversation with practical action items.

Don’t take my word for it. Check it out this episode of the Midday Money Show for yourself.

How have you refocused on improving your financial literacy? Leave a comment on the new Midday Money Show voicemail. Call: (773) 893-0241

This episode is sponsored by:

We talked about…

• Systemic challenges that lend themselves to the lack of progress in wealth building in the African-American community.
• What role the church should play in improving financial literacy among members.
• How mainstream organizations are taking the lead in promoting fiscal wellness over institutions that typically target African-Americans.
• What we can do as a community to improve our financial state of affairs.
• How communities across the country can harness their economic power.

“I don’t see the same sense of urgency around recognizing how crucial it is that we get our money right.” ~ Lynnette Khalfani-Cox

 

Resources Featured:

• Hidden Money Challenge
• Connect with:
  • Lynnette: Ask The Money Coach | Zero Debt | Facebook
  • Tiffany: TheBudgetnista.com | Live Richer Challenge | Facebook | The One Week Budget
  • Tonya: MyFabFinance.com | CentricTV.com | Twitter
  • Patrice: RealMoneyAnswers.com | Facebook | Twitter
• Midday Money Show voicemail: Call (773) 893-0241

 

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