One thing that I am dead set on doing before I leave this Earth is leaving behind a legacy and building generational wealth. Things that I didn’t have that would have given me such an awesome headstart in life, if I had it. However, it’s okay… my family can’t give what they don’t have nor have the knowledge to acquire. That just means that I will work hard to acquire it and pass it on down the line. 

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When I bought my first house in 2014, I went into it with all that I had saved. I couldn’t depend on my family to give me $50-100K off the top b/c they didn’t have it to give. I mention this b/c we, as Black people, have to realize that we are so far behind when it comes to wealth, money, and leaving something behind for future generations. 

LET ME BE VERY CLEAR!!!

It’s not b/c we couldn’t build the wealth, save the money, or acquire the knowledge to be in a better position than we are today although slavery and bondage are a huge part of it as well as not knowing, being allowed, or being punished for reading, writing, and learning was a part of it as well.

However, think about all the times that black people tried to re-establish themselves, build their own, and keep to themselves. What happened? Think Tulsa Massacre of 1921, read more here. Think Rosewood Massacre of 1923. There are many, many examples of Black towns, communities, businesses, homes, etc. being destroyed due to false accusations. Many people died, mostly Black people, b/c they were attacked, hunted, and killed for no reason. 

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Due to many factors listed above and some that weren’t listed, there are still the people that live in poverty and who are poor. When you have DEBT out the ying-yang b/c you want to go to college and try to make a better life for yourself… Or when you don’t have the credit score that you need to start a life of independence… Like, it’s really real out here! Don’t get me started with how COVID has fucked up many people’s households and the ability to provide even the basics for their families. 

So, remember… this financial and debt thing is important. The system is already rigged for those who owe money to continue to owe money and when you can’t pay… it gets passed on to family members sometimes. Being in debt is the worst, but when you need it, it’s there. As someone that has student loans to pay back b/c I didn’t have wealthy parents to pay my tuition, I did what I had to do to provide for myself and hopefully, a family sometime soon.

With the student loan debt as high as it is, many people are in and have been in my very same position. The thing is, you have to pay that money back. Somehow, some way. Sallie Mae don’t play that! See the post here

Said all that to say this… be mindful and careful of the loans you borrow and be sure to pay them back. It used to be important for children to have an education, but the world is ever-changing, it’s more important to support and push their creativity. Help them start their own businesses, so they can learn about finances, savings, leaving behind a legacy for their children, and creating generational wealth. ❤

#MessageMonday