Money management is a serious task, especially if you want to pursue homeownership. Black Millennials, unfortunately, do not have the same interest rates or safety nets as their parents and older generations did. Therefore, active Black homebuyers must be resilient when it comes to their savings. It’s also critical to stay abreast of Black finance and economic books that speak to the specifics of how to build Black generational wealth.
Add These Black Finance and Economic Books to Your Home Library
By delving into the pages of these books, Black Millennials can gain a deeper understanding of the economic landscape, develop a wealth-building mindset, and leverage their unique experiences to achieve financial success. These resources pave the way for economic empowerment, ensuring a brighter future for Black individuals and communities.
Black finance and economic books also provide representation and empowerment for Black millennials. These books reflect the experiences, struggles, and triumphs of Black individuals within the realm of finances and wealth. By reading these books, Black Millennials can see themselves in successful financial narratives, which can help inspire confidence, motivation, and a sense of belonging in pursuing their own financial goals.
Not only that, these books cover a wide range of topics such as budgeting, investing, entrepreneurship, homeownership, and generational wealth. By gaining knowledge on these subjects, Black Millennials can develop financial skills, make informed decisions, and create a solid foundation for their economic well-being.
Here is a list of Black finance and economic books to get you started on your journey to help you become more economically independent. Utilize the advice and knowledge offered in these books to learn how to better navigate the world of finance and build wealth for you and your future generations.
Black Labor, White Wealth: The Search for Power and Economic Justice by Dr. Claud Anderson
Dr. Claud Anderson is one of the most renowned Black economists in America and the president of Powernomics Corporations of America. He's worked in academia and government and has first-hand experience with what it takes to grant Black Americans fair economic footing. His think tank continues to conduct "research, policy development, education and advocacy to increase the self-sufficiency of Black America," according to his website. In his book, Dr. Anderson presents not just the economic struggle Black Americans face but how public policy encourages it. Dr. Anderson's books explore how America benefits from the economic hardships that Black Americans face while offering insight into how to change it.
Fearless Finances by Cassandra Cummings
Founder of The Stocks & Stilettos Society, Cassandra Cummings centers her advice and guidance on women of color. Cummings recognizes how women have been left behind as it relates to wealth building. In an attempt to correct an injustice, Cummings has built a community with over 100,000 women that include investors, entrepreneurs and money-savvy women looking to build generational wealth. "Make your money grow so you can glow" is a quote from Cummings in her book. She wants women to feel empowered and financially independent. Providing this financial roadmap to increase wealth, Cummings has the answer to your financial setbacks.
Make Money Move by Lauren Simmons
“Seventy-three percent of Americans ranked their finances as the number one cause of stress in their lives. But financial wellness can have a positive effect on your entire life. Not only when it comes to money and finances, but the quality and ease of how you live. Financial wellness means freedom for your body and freedom for your mind. Financial stress can also cause the breakdown of relationships. But it doesn’t have to be that way,” said Lauren Simmons, the youngest person ever to trade on the New York Stock Exchange. In her book, Make Money Move, she offers an easy-to-understand financial guide to help empower women, Millennials, and marginalized communities.
Little Daymond Learns to Earn by Daymond John and Nicole Miles
One of the keys to building generational wealth is to understand how money works when you are young. Daymond John, known as one of the founders of FUBU and judge/investor on ABC's "Shark Tank" recently published a financial book for kids. Geared to young readers between the ages of 5 and 9, this book will help spark entrepreneurial curiosities that will encourage your child to tap into their creative and leadership skills to make a profit. Give the children in your life the opportunity to understand the concept of money, banking and investing with this vividly illustrated book. Children will be enthusiastic about learning the ins and outs of running and owning a business.
It All Adds Up by Devon Kennard
Devon Kennard wants Black people and marginalized communities to understand that money and getting money are essential for survival. Former NFL player-turned-philanthropist and investor now spends his days helping people find ways to maximize their money. Kennard is also focused on giving everyday people practical tools that they can use in their day-to-day lives as opposed to unrealistic instructions and advice. Kennard recognizes what working-class people are up against when it comes to wealth building. In his book, he offers advice on how to turn passions into passive income. He also addresses different ways people can profit from real estate even if they don't have a home yet or just bought their first home.
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