Denied Access, But Not Denied Success: Rewriting the Story of Our Black Dollar
For far too long, the odds have been stacked against us. We’ve seen how opportunities were kept just out of reach, and we’ve felt the weight of being denied access to the same financial tools and knowledge that others get handed. But here's the truth we need to realize: We are not products of this system. We are not defined by what has been taken from us. We get to write our own story, and it starts with taking back our financial power.
The Old Way Wasn’t Working
Growing up, the financial advice I often heard was simple: save your money, don’t get into debt, and work twice as hard. But there was never any explanation for why. No one told me about the deep-rooted systemic barriers, the racial wealth gap, or the generational financial trauma that we, as a community, carry. What I did learn about managing money saving and staying out of debt came from my mom and family. It was practical advice, but it didn’t give me a roadmap to true wealth.
I believed for the longest time that if I just saved enough money in a regular bank account, I’d somehow become wealthy. But here’s the hard truth: you can’t save your way to wealth. No job will ever pay you enough to make you rich. And working harder and longer will only wear you down. True wealth is not about simply having money; it’s about ownership, creating assets, and making your money work for you, not the other way around.
The System Didn’t Want Us to Win
The reality is, the system wasn’t built for us. From slavery to Jim Crow to redlining, Black Americans have been systematically denied the opportunity to build wealth. Today, it’s wage gaps, predatory lending, and lack of access to financial resources. Our access to wealth-building opportunities has been policed and restricted. But despite all of that, one thing history has shown is that Black resilience is unmatched. We may have been denied access, but we are not denied success.
Redefining Wealth: What Does It Mean?
It goes beyond the typical understanding of wealth as just having money.
It’s so much more than just a dollar amount. While money can unlock opportunities, it’s not the sole measure of true wealth. True wealth is about the freedom it brings the ability to make choices without limitations, to have control over your time and decisions, and to live with clarity in all areas of life. Money can’t buy happiness, health, or peace of mind, but it can certainly provide the resources to build a balanced life. Feeling and being wealthy isn’t about a hefty bank account; it's about having the flexibility to prioritize family, career, and social connections while experiencing life on your terms. It’s about having the freedom to focus on what really matters, creating lasting memories, and maintaining a strong sense of well-being.
Wealth and well-being go hand in hand, financial security provides the freedom to live life on your terms. When your finances are in order, you can focus on your health, relationships, and personal growth without the constant weight of financial worry. True well-being is the ability to build a life where money is a tool, not a source of stress. A financial plan that ultimately leads to a wealth management plan as financial assets grow is a process.
Wealth is about living with purpose, clarity and knowing that you’re building something bigger than just your bank account.
Taking Control of the Narrative
And that’s where I find myself today. I’m not dwelling on the financial struggles of my ancestors, but I do recognize the challenges they faced. My mother did the best they could, and while I never went without, the truth is, I don’t really know what our financial situation was growing up. From what I saw, my mom worked, paid the bills, and repeated the cycle. I know we had life insurance, health insurance, and the basics, but wealth-building strategies just weren’t part of their toolkit to grow her money. I don’t blame her for what I don't know, the times were different. But now, as an adult, I’ve made the decision to change the narrative. I’m stepping out of the comfort zone of playing it safe, breaking the financial cycle, and showing my family that we can do things differently. This is my responsibility now, and I’m determined to teach the next generation that we have the power to rewrite our financial stories.
We jumping off the porch over here!
I walk by faith, and not by sight!
Finance The Brand is bigger than me. It’s about sharing what I’ve taught myself, what I’ve learned from others, and making sure that my generation and the next generation doesn’t have to figure it out alone. I refuse to be without the resources and tools to better myself and my community. If the system won’t give us the keys, we’ll create our own doors.
I don’t have all the answers. No one does. But that doesn’t mean we wait for someone to hand us the knowledge. Educate yourself with the resources you have. Be proactive. Take control of your financial future. Here are some podcasts I listen to that have helped me expand my knowledge and mindset:
Table with AO
Earn Your Leisure
Myron Golden
Circle of Greatness with Nehemiah Davis
Financial Education as the Key to Breaking Cycles
Financial education is crucial to breaking generational cycles of poverty. We need to stop thinking of wealth as something only a select few can achieve. Wealth-building doesn’t have to be complex, but it does require intentional actions. One of the first things I am doing is prioritizing investing, which is something many of us weren’t taught. And when I say prioritizing it, I mean learning, educating myself. Saving alone won’t build wealth, but investing allows your money to grow over time. Even small amounts invested regularly in the stock market, real estate, or other assets can lead to long-term financial freedom. There are tools available today that our ancestors didn’t have, to educate us on things like index funds, ETFs, and digital platforms that make investing more accessible than ever. I’m learning to leverage these tools, and I’m sharing that knowledge with others so they don’t have to start from scratch.
Debt: The Hidden Barrier to Wealth
Another step in rewriting the story of our Black Money is breaking the chains of debt. Debt, especially credit card debt, has a way of trapping us in a cycle where it feels impossible to move forward. But by understanding how to manage debt and leverage credit wisely, we can stop that cycle.
To begin, one of the first things you need to do is check the interest rate on your debt. You can find the interest rate (APR, Annual Percentage Rate), which represents the total cost of borrowing, including both the interest rate and any additional fees. You can find the APR on your credit card or loan statements, or by logging into your online account. If you don’t have access to an online account, give the company a call and ask for that information. Understanding your APR is crucial, as it shows how much you'll be charged yearly for borrowing money.
Let me just say this, Debt got me in a chokehold too, with these student loans!
Once you know the interest rates, you’ll be able to prioritize paying off high-interest debts first. This could mean putting extra payments toward the credit card with the highest APR to reduce the amount of interest you’re being charged over time. Building credit and paying off high-interest debt opens up opportunities, whether it’s buying a home, starting a business, or investing. There’s a way to break free from the weight of debt and use credit as a tool to build wealth, rather than holding us back.
Building credit and paying off high-interest debt opens up opportunities, whether it’s buying a home, starting a business, or investing. There’s a way to break free from the weight of debt and use credit as a tool to build wealth, rather than holding us back.
To tackle debt, start with these methods:
The Snowball Method: Pay off your smallest debt first, and once it’s paid off, move to the next smallest. This can create momentum.
The Avalanche Method: Pay off the highest-interest debt first, which saves you the most money in the long run.
Debt Consolidation: If you have multiple high-interest debts, consolidating them into one loan with a lower interest rate could help lower your overall payments.
True generational wealth isn’t just about what you leave behind, it's about the tools you equip the next generation with to manage and grow that wealth.
Black Wealth Beyond a Month
Every February, we see the discussion around supporting Black businesses, closing the racial wealth gap, and circulating the Black dollar. But this conversation shouldn’t stop when the calendar flips to March. Black wealth isn’t just a trend for one month; it’s a lifelong commitment. We can’t afford to focus on Black financial empowerment for only 28 days. We need to make intentional decisions every single day to close the gap and create lasting change.
The Silent Price of Being Black
We don’t talk enough about the silent price of being Black in America. The financial cost of discrimination isn’t just about income; it’s about access, opportunity, and generational wealth. It’s the invisible tax of being overlooked for promotions, being paid less for the same work, or being told we’re not “a good fit” when applying for business loans.
But it’s never just about numbers; it’s about the emotional and mental exhaustion of trying to break a cycle that was designed to keep us locked in place. It’s watching our families work themselves to the bone just to survive. It’s the guilt we feel when we start making more money than our parents, knowing they struggled to give us opportunities they never had. It’s the frustration of wanting to build wealth but not knowing where to start because no one ever taught us.
The System Wasn’t Built for Us, But Our Wealth Will Be
We have every reason to be frustrated. Every reason to feel like the odds are stacked against us. But we also have every reason to be hopeful, because Black wealth is being built every single day. We are no longer waiting for permission to succeed. We are no longer accepting a system that wasn’t built for us. Instead, we are creating our own.
The financial struggles of our community are real, and the barriers are high. But we are resilient. We’ve always been resilient. Our ancestors fought for basic human rights; now we’re fighting for financial freedom. We may have been denied access, but we are rewriting the rules, and we are not denying ourselves success. The story of Black wealth is still being written, and it’s one we are choosing to tell differently.
Black financial success isn’t about catching up to other people’s wealth; it’s about reclaiming what was always ours. It’s about making sure that our children don’t have to start from scratch. It’s about understanding that our power doesn’t come from the systems we’ve been shut out of, it comes from the community we’ve built, the knowledge we’ve gained, and the determination that has always been at the core of who we are.
I will leave you with this put yourself in rooms with people who have the knowledge, who understood the power of money beyond just earning and spending it. Read it, listened to it I learned and most importantly, learn how to apply what you learn to your life.
Denied access? Maybe. But denied success? Never.
Happy Black History Month!
Its not to let to join me for my first-ever Q1 financial read! I am reading The Mindful Millionaire by Leisa Peterson. It’s a fantastic resource for overcoming scarcity and aligning your mindset with your financial goals. I grabbed mine from Barnes & Noble, but you can also find it on Amazon.
If you have any questions, don’t hesitate to comment or reach out. I'm here for it! And be sure to follow us on Instagram @flofblog and @financethebrand for more updates and tips on how you can rewrite the rules of your money. Wishing you a prosperous week ahead and I’ll see yall in February!
