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Build Your Financial Literacy

VIDEO PART 1: According to Annuity.org, the median net worth of African American communities is approximately $25,000, European American (non-Hispanic) populations approximately $200,000, and Hispanic populations approximately $40,000. The financial wealth disparities experienced by African Americans are affected by mediators ranging from historical systemic disparities to discriminatory housing practices.

 

Financial disparities contribute to varying levels of stress, increased morbidity rates, and expressions of grief. Understanding the methods of building financial empowerment as a social justice tool may help enhance financial and mental wealth within African American communities.

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Topics

  • The intersection of racial trauma and finances

  • Historical mediators of financial disparities

  • The mental and health effects of financial strain

  • Tools for implementing financial literacy as a social justice tool

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VIDEO PART 2: Every three years, the Federal Reserve System conducts the Survey of Consumer Finances with the 2022 reported slated to be available in late 2023. This survey is used to explore the financial experiences of diverse families across the United States. The most recent 2019 report highlights differentials across groups in categories including income, housing, and wealth.

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Confronting factors that contribute to wealth inequality and income disparities is critical toward enhancing the economic well-being of diverse populations. Historical mediators, resulting in race-based trauma, have created long term financial disparities that continue to impact the mental and physical health of individuals. As a result, this workshop is designed to build upon Part 1 by identifying techniques to promote financial empowerment as a social justice tool amongst African American communities.

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Topics

  • Wealth-building lessons and insights from historical figures

  • Developing a personal financial well-being framework

  • Identifying skills to promote mental and financial health

  • Building financial empowerment programs to promote social justice

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