With grocery prices rising and inflation rates at afour-decade high, the path to financial freedom is getting trickier by the day. But that burden is especially heavy for Black women, who face unique challenges when it comes to building wealth,paying off their debtand getting access to financial services.
According to a report published in The Education Trust in 2022, titledHow Black Women Experience Student Debt, about two-thirds of the $1.7 trillion in student debt in America is held by women. And since Black women live at the intersection of two marginalized groups, they struggle the most to pay back loans—largely thanks to the gender pay gapandsystemic racism. As if this weren’t challenging enough, another study byThe American College Center for Economic Empowerment and Equalityfound that discrimination negatively impacts the access Black women have to wealth-building tools.
是的,生活无债一身轻,gainin之旅g financial independence is uniquely challenging for this group, which begs the question: What are the most effective, practical ways that Black women can achieve their financial goals? Fortunately, author and financial coach Paris Woods offers a simple, step-by-step guide on how to do so in her bookThe Black Girl’s Guide to Financial Freedom. Here are her eight best tips.