News to Know — financial literacy

Financial stress is a common problem that many people face, but it affects women of color more severely. Inequality in the workforce, lack of access to resources, and systemic racism contribute to this issue. It's time to address this problem and find solutions that can help alleviate financial stress for women of color. The Gender Wage Gap One of the biggest contributors to financial stress for women of color is the gender wage gap. Women of color earn significantly less than their white, male counterparts. Black women earn just 63 cents for every dollar earned by white, non-Hispanic men, and...

In 2021, the average American had a debt loan of $96,371, a 3.9% increase from 2020. All 50 states, including Washington, D.C., experienced a hike in average balances. People sometimes need extra cash to cover unexpected expenses, and payday loans can be a temporary solution. Payday loans can help you get the money you need until your next payday. But if you don’t pay attention, these loans can plunge you into debt and push you to get a new loan to pay off old debts. So how do you avoid the debt trap? This article helps you learn how to...

  Financial freedom is a term that is often thrown around, but many people do not fully understand what it means. Financial freedom is the ability to live the life you want without worrying about money. It means having enough money to cover your expenses and save for the future. Achieving financial freedom may seem daunting, but it is more accessible than you think.  Budgeting A budget is a plan for how you will spend your money each month. It allows you to see where your money is going and make adjustments as needed. To create a budget, start by...

Introduction Personal finance is a crucial aspect of everyone's life, but it is particularly important for minorities. Minorities by race, gender, or class have historically faced economic challenges due to factors such as discrimination, lack of access to education, and other systemic issues. These challenges make it even more important for minorities to focus on personal finances and take steps to secure a strong financial future.  The Wealth Gap One of the main reasons why minorities need empowerment in personal finance is the wealth gap. Minorities, particularly Black and Latinx individuals, have significantly less wealth than their white counterparts. This...

As February, Black History Momth, comes to a close and we transition into March, Women's History Month,  we want to recognize a few Black women who have impacted personal finance education throughout history. When it comes to personal finance and wealth building, there are many Black women who have made a big impact. Despite facing discrimination and challenges, these women have worked hard to manage their money and build wealth. Let's take a look at three amazing women who made history in the world of personal finance, and what we can learn from them.   1. Maggie Lena Walker: Maggie...