She Strengthens

Breaking Free from the Shackles of Financial Oppression

As a Black woman, I’ve come to realize that my racial background has significantly influenced my relationship with money. Growing up between Vancouver, British Columbia, and a small town in Texas, I’ve experienced the harsh realities of systemic racism and its impact on financial literacy.

The Weight of Resentment

For a long time, I resented being Black, feeling like my skin color made life unfairly harder. But as I entered my early 20s, I began to embrace my identity and challenge the negative self-talk that had been holding me back. One of the most significant hurdles I faced was my unhealthy relationship with money.

Emotional Spending: A Coping Mechanism

Growing up, I often felt like I was on display, constantly bombarded with microaggressive questions and stares. To cope, I turned to emotional spending, using retail therapy as a way to feel “safe” in uncomfortable situations. However, this habit took a toll on my finances. Today, I’ve learned to lean on loved ones and prioritize self-care, saving me hundreds of dollars each month.

The Privilege of Saving and Investing

I used to think that saving and investing were only for the privileged few. But I’ve come to understand that these wealth strategies are essential for building a secure financial future. Despite the obstacles faced by Black households, I’ve taken steps to set up a high-interest savings account and educate myself on investing options.

Implicit Biases and Systemic Racism

I once believed that some people were destined to have less money due to their skin color. But I’ve reframed my thoughts, recognizing that systemic racism has played a significant role in perpetuating poverty. I’ve taken control of my finances, making good decisions and seeking opportunities to earn extra income.

The Cost of Conformity

For years, I overspent trying to fit into white-centric beauty standards. But three years ago, I made the decision to wear my natural hair, saving me $1,300-$1,500 annually. This change has not only boosted my self-esteem but also allowed me to redirect my funds towards saving for the future.

Financial Literacy: A Luxury for Few

My parents, though well-intentioned, lacked financial literacy, and I had to teach myself everything from scratch. I’ve come to realize that centuries of racial oppression have made it difficult for Black families to acquire financial knowledge and pass it on to their children. I’m determined to use my story to bring awareness to the importance of financial literacy in the Black community.

By sharing my experiences, I hope to inspire others to take control of their finances and break free from the shackles of financial oppression. As a Black woman, I’m committed to dismantling negative stereotypes and promoting positive money changes in my community.