We (Black women) need to stop acting like we don’t need (more) money.
Money might not be everything, but it’s right up there with air and water.
Black women have tried to be anti-capitalist for years, at the expense of their health, creativity, and earning potential.
Movements have been essential to creating change, but they’ve always been powered by Money.
And you actually can’t quit capitalism without the capital needed to opt-out of the system.
So let’s be honest about what money is: it is a tool that you can use to create impact in your life and the lives of others.
And you don’t have to lose your soul to build and enjoy (generational) wealth.
In fact, it’s been well documented that women with wealth are more likely to contribute more financially to their communities and at large versus their male counterparts.
You need money to
- maintain optimal health
- secure food and housing
- raise children
- grow your business
- give back to your community
But you also need to
- unlearn whatever messages you learned or experienced growing up around money
- let go of the idea that money is evil (money is a social construct, it’s not even real!)
- believe that you deserve to fill at ease and in flow in your life
- believe that you deserve comfort (and luxury if you’re about that life!)
- open yourself to receiving abundance
It’s time to get real about money and build wealth so that you can uplevel your life and make an impact on the issues that matter to you!
I’m not a financial advisor, but I understand that we can’t get ahead in this world if we’re not willing to transform our relationship with money. Here’s how to make money and impact:
Please do your due diligence and trust your inner wisdom when making financial decisions. Start where you are, take your time, and do more as you learn more and earn more. Everything isn’t for everyone. Take what you need and leave the rest.
- Learn how money works
- Learn how investing works
- Sign up for the Make Money Moves Challenge
- Learn how to build multiple streams of income
- Raise your credit score with a Self loan
- Negotiate a higher salary/benefits package
- Ask for a raise (you’re underearning, boo!)
- Negotiate a higher severance package
- Prioritize your health (because what good is wealth without health?!)
- Work on your money mindset
- Listen to podcasts about money
- Recite affirmations about money and abundance
- Take yourself on money dates
- Commit to personal growth and development
- Surround yourself with people who are growth-minded
- Be grateful for what you already have
- Donate $5+ every month to a cause or individual (artist, politician, etc) that is aligned with your values
- Raise your fees (you can save the world after you fill your own cup first)
- Read books about money written by women
- Follow @rachelrodgersesq, @thebudgetnista, @the_moneynista
- Get a financial planner
- Pay down your debt
- Get an accountant
- Heal your relationship with money (aka go to therapy!)
- Open a high-yield savings account
- Open a Roth IRA
- Create an emergency fund (a minimum of $1,000; put it in a high yield savings account!)
- Invest in a whole life insurance policy (and become your own banker!)
- Start a susu with your circle of friends (ask ya mamanem about this)
- Start an investment circle with your circle of friends
- Monetize your ideas, experience, and skills on Fiverr, Youtube and/or Fanbase
- Start a side hustle
- Own part of the companies you spend all your money with
- Research alternatives to extractive capitalism
- Invest in multifamily real estate
- Invest in commercial real estate
- Invest in REITs
- Invest in Black Farmers and Black Women-Owned Businesses
- Invest in artwork
- Start a worker-owned cooperative business
- Stop listening to money experts that tell you to live below your means and start listening to the ones that offer ways to increase your income
- Share this list with your relatives and friends so that you can all make money and impact together
Some of these links are affiliate links, meaning I will earn a commission on any sales made, at no extra cost to you.
