fast facts

01

FINANCIAL INSIGHT

DID YOU KNOW…that studies say that the average lifespan of the dollar is approximately 28 days in Asian communities, 19 days in Jewish communities, 17 days in white communities — and just six hours in Black communities. 

DID YOU KNOW…You may have identity theft coverage in your homeowner policy? And that having liability insurance may not be enough? Depending on your wealth, an umbrella policy may be needed to protect your personal assets.

DID YOU KNOW…high-yield savings accounts can earn 10 times more interest than typical savings accounts? Also, automated savings transfers no matter how small the amount is. It’s a great way to improve one's financial health.

DID YOU KNOW…Black Americans buying power in 2019 was $1.4 trillion dollars (more than the GDP of Mexico, Switzerland, Netherlands) with Latin buying power at $1.7 trillion.

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02

FINANCIAL INSIGHT

Set a Budget (80% Essentials, 20% Savings). If 20% is not feasible start with 2 or 3%. Setting a monthly budget can help you find "blind spots" in your spending (e.g. dining out, etc.) that take away from your ability to save?

Pay off debt. Even a little at time (calculate your debt and prioritize what you are going to pay first). Remember this: Money = Freedom, but Freedom is not free.

Regularly check your credit score regularly and your annual credit report. A good way to monitor fraud and see progress on paying down debt. Be sure to obtain a free credit report.

Get started on your financial journey and growing generational wealth. Start by emulating wealthy families and discuss finances around the dinner table.