The Black community remains systemically underrepresented across all bands of society, from city councils to business school faculties to the media. Within finance, the issue compounds, with a 2020 study finding that 79% of financial advisors identify as white, while on the corporate side, only four CEOs from the Fortune 500 in 2021 were Black. There are distinct Black voices within the finance world …
The wealth gap between Black and white Americans has been persistent. That gap, of course, reveals the effects of accumulated inequality and discrimination. Despite certain gains in income and wealth for Black families in America, white families often have a net worth up to 10 times higher. Discriminatory financial practices such as redlining or credit discrimination have increased …
Black people within the United States are often seen as a monolith. There are many things that connect Black people, including shared customs, norms, language, and food. In 2021, a Netflix documentary called “High on the Hog” explored this connection through food, identifying similar cuisines eaten throughout the African diaspora. And while racism, discrimination, and anti-blackness are …
Last year, Aimy Steele discovered something she had never seen before in the world of personal finance advice: lessons that felt culturally relevant to her, and inclusive of her experiences. Steele is no stranger to that world, and she’s extremely familiar with the financial gurus who have become the faces of paying down debt, budgeting …
Key points Black History Month is a time to acknowledge the contributions, challenges, and triumphs of African Americans. Here are four personal finance gurus who are empowering people to better their lives. Check out The Ascent’s best credit cards for 2022 During Black History Month, it’s important to reflect on the people who endured challenges …
4 Personal Finance Influencers to Follow for Black History Month Read More »
As we look back over the past year and at how we want to shape the one ahead, we know that we’re not without challenges. Those challenges, though, have taught us about ourselves, including how we can think differently, how we ensure that we all move forward together with no one left behind, and how …
Progress and persistence: Driving towards racial equity at every turn Read More »
The recent boom in stock values and home prices could actually hurt Black Americans by exaggerating the country’s persistent racial wealth gap, according to a new report from the Federal Reserve Board. The Fed just released the results of its most recent Survey of Consumer Finances and, among the results, the survey says that Black Americans by and …
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. One of the easiest ways to manage your money better this year is to hit the follow button on …
For as long as there have been Africans in America, there have been examples of Black social, cultural and economic solidarity. Often formed in response to systemic exclusion and economic stagnation, examples range from mutual aid networks, to freedom farms and grocery cooperatives. Though centuries of erasure have shrouded the impact Black Americans have had on the history and development …
A brief history of Black cooperatives in the U.S. Read More »
Citi bank has hired five black-owned firms exclusively to disseminate $2.5bn in loans, with proceeds going towards constructing quality affordable housing for low-moderate income populations in the US. Bond issuance came after the bank announced in November that one year into its three-year commitment to tackle racial inequality, it had invested $1bn in strategic initiatives …
