One of the interesting things that I see as a personal finance coach supporting black women trying to regain control of their finances is that these women are in debt or have bad credit. It's not that they are poorly compensated and, as a result, have to resort to charging basic necessities on their credit cards. Rather, it is because they have money management issues. They … [Read more...]
Married Parents Face Poverty, Too
Conversations involving poverty often revolve around single parenthood, unmarried mothers and the like. However recent data has shown that the poverty rate for married couples is going up--an increase of 47 percent since 2000. While single parents have always seen more financial burdens, the fall of wages and rise of unemployment combined with lack of paid leave and … [Read more...]
“If I Were a Poor Black Kid†– Is Technology All That’s Standing In Black Kids’ Way?
Forbes contributor, Gene Marks, latest article, "If I Were a Poor Black Kid," is causing quite a commotion in the blogosphere and is quickly making the rounds on the major news outlets as well as social media sites. Marks, who writes mostly articles on technology, decided to put himself in the shoes of a "poor black kid from West Philadelphia" and described how he'd use … [Read more...]
Money Monday: Do Fast Food Restaurants Victimize The Poor?
Over the past week there's been an interesting debate on the internet over whether or not certain food stamp recipients should be allowed to use their benefits at McDonald's, KFC, and other fast food restaurants. It started with this posting by BlackGirlFit. Four states already allow some food stamp recipients to purchase burgers, fries, and other fast foods. Principally the … [Read more...]
An Unending Cycle: Poverty’s Unrelenting Grip
The other day my husband and I were talking about the many continuous cycles of life in the "˜hood. We both grew up there, so we've seen it occur firsthand. It doesn't happen to everyone, but it happens to more than we'd like to say. Usually, if you're living somewhere in the "˜hood, you're not too well off financially. Maybe there are exceptions to the rule, but I've yet to … [Read more...]
Money Monday: The “Poverty Vultures” Strike Again
by Dr. Charles Alonzo Peters Drive down any urban street and you're bound to come across tax preparation shops nestled in-between their title loan, rent-to-own, and check cashing cousins. Some are no-name "Mom and Pop" operations, while others are well-known national chains. Many aggressively push their services, sending grown people dressed in ridiculous costumes to cut … [Read more...]