I’ve always believed that one of the issues within the Black community is a lack of financial, understanding. One of my favourite Bible scriptures is “My people are destroyed for lack of knowledge” (Hosea 4:6) And when I think about the lack of financial knowledge that is still prevalent in our community, that scripture comes to mind.
A vast majority of other communities spend time learning about generational wealth and how to create it. They then use that knowledge to build wealth for their children, which in turn leads to those children having a significant head start in life.
Let me give you an example…. I’ve got friends from other communities that were easily able to buy a house 🏠 because they had access to money that their parents either saved or invested for them when they were merely children. Or another example is some of the friends I have from those same communities that literally took over their parents established business once they had studied and were qualified enough to do so. Those kinds of examples are sadly not the norm in the Black community 😞 Our parents often had to scrimp and save and there wasn’t lots left over to invest or save for us. Now I admit, a lot of that comes down to systemic racism and the lack of opportunities that were available to them. However, we have to acknowledge that some of it comes down to them not being taught about how to manage finances in a significant way and how to use that knowledge to build much needed generational wealth.
So when I came across a book written by a young (Black) woman called Generational Wealth, I immediately knew I had to read it! Whilst I have quite a bit of financial knowledge due to years of studying, you can never know it all when it comes to money 💰 and wealth building 💱 So I was intrigued and actually excited to get stuck in to the book.
The author of the book is Chantel Nyame-Bankole and she effortlessly explores what it takes to build generational wealth, in a non complicated, easy to understand way. The book is only 47 pages long (well the kindle version is) but its 47 pages of golden nuggets, that you could start applying to your life straight away. Nuggets like, the right kind of investment accounts to open, why a good credit score actually matters and why life insurance is important.
There are so many more vital pieces of information contained in this short book 📖 All of which really help the reader to gain some basic financial literacy and start their journey to building generational wealth, which will help their family in the future 🍾 The book also presents you with really great food for thought like ‘before you spend tons of money on your child’s christening, why not go smaller and save that money for your child’s future’ AND ‘before you book that trip to Disneyland, why don’t you invest in some shares in Disney’ 🤔 Simple questions that really aim to change the readers perspective. I’ll be honest, they certainly changed mine
So I implore all of you to check out this book! I truly believe that learning how to build
generational wealth, is the necessary stepping stone that we need to take, to enable our
community to flourish for generations to come 🖤
You can get a copy of Generational Wealth at an extremely reasonable price point from: