 A Fidelity survey revealed that two-thirds of Americans made financial New Year's resolutions. A majority of those surveyed cited "saving more" and "paying down debt" among their primary goals.
Here at Mahogany Money, we believe that the first 100 days of the New Year are critical for establishing the tone for the rest of the year. As such, we will be doing a weekly series of steps that you can take to ensure that your money also has a Happy New Year.  Photo by Humphrey Muleba on Unsplash According to a study done by the Financial Industry Regulatory Authority, a dismal 63% of Americans are financially illiterate. This means they lack the basic skills to pay their bills on time, pay down their debt and plan for their future.
In a capitalist society, financial illiteracy often results in a life sentence to poverty. These money quotes will help you better improve your mindset and empower your mastery of the Language of Money.  While many educational professionals will testify that coding is the language of the future, there are very few professionals, educational or otherwise, who are focusing on the language of the present: Money.
Here are the 6 terms that need to be mastered in order to begin to understand how to speak the Language of Money.  African-American consumers spend a mind-boggling $1.4 TRILLION (yes, with T) annually.
All of that consumer spending has yet to translate into sustainable wealth for a majority of African-American families. Below, we'll examine the state of Black wealth in America and the context behind those numbers. |
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