Black Economic Empowerment
As a race I don't think we talk about money and how to use it/ invest it wisely enough. It's time for us to have these discussions as regularly as we discuss popular culture. I have decided to use this space to do just that and would love to get some contributions and guest posts from people that know about finance so that we can grow together.
There is so much impacting Black people negatively across the globe, and the sad reality is that this has been the case since the slave ships arrived on African shores in the late 1500's early 1600's. The difference now is that the atrocities and genocide are captured on film and shared on social media in real time, literally putting the information in the palms of our hands.
In terms of the quality of life for Black people, America is in an appalling state, the U.K. is not that far behind and don't get me started on the African continent. There is a growing number of Black people advancing and breaking through barriers however, the gap between those that have and have not is vast and the divide keeps getting bigger.
At times it can be really difficult to know what to do to actually have an impact so we compartmentalise as it makes life manageable. When issues are so huge it is easy to feel small and powerless.
I have read some information on money in Black communities in Europe and America. Whilst there appears to be no empirical evidence on how money is spent per racial group, the fact that as a race we have so much spending power and own very little is shocking. I do believe we can begin to change that within a generation if we are mindful.
The reality is that money talks and it talks loud, it should be love, health and peace, but try focusing on those when you are distracted by being broke. We have to be realistic. Currency is an international language understood and to a degree (a large degree) respected by all.
According to The Voice newspaper Black consumers in the UK are worth a staggering £300 billion. I have not read the research to see how this has been calculated but from the amount of Louis bags and red bottomed shoes on my timelines I can see that money is being spent.
It's time for us to become financially savvy, acquire appreciating assets that create inter generational wealth and be in a position to financially support ourselves. @mxm_tam