Black personal finance influencers focus on financial freedom

Social influences focused on financial education in the black community emphasized the message of financial freedom on June 16th this year to commemorate the end of slavery in the United States.

“I’m convinced that Juneteenth’s memory requires some financial understanding as part of it,” EarnYourLeisure podcast RashadBilal told CNBC. “But I think the problem with holidays is that everything is made as a celebration and loses its meaning, whether it’s Christmas, Easter or New Year.”

“The importance of Juneteenth’s economic and social freedom is something people should keep in mind every day,” added Bilal, a former financial adviser.

Earn your leisureFocusing on financial literacy, Instagram has more than 1 million followers and is part of a growing movement of content creators to provide insights and tips on markets, real estate, cryptocurrencies, entrepreneurship and more.

“Let’s see where it goes. Maybe it’s not just this holiday, a week or Black History Month. What if we could have this financial conversation every day?” Earn Your Leisure’s Troy Millings said.

They also make a clear link between today’s goals of economic freedom and the economic impact of slavery on America and its black citizens.

“Understand that people literally died for finances. That was the real purpose of slavery. It was a financial system set up for free labor,” Bilal said... “So when our ancestors actually sacrifice their lives and see it done for financial empowerment, it forces you to see your finances. You I don’t want to waste my money. You can actually use that money to change the course of your family. “

Black Americans are at a disadvantage when it comes to wealth. According to a Federal Reserve survey Released in 2020, Median net worth The number of black families in the United States was about $ 24,000. The median net worth of Caucasian families was $ 188,000.

Other influential people spreading the message of economic liberation on June 16th of this year include Iandan Wrap alias Master investor, Kesia Williams, Wall Street Trapper, Philip Michael When Rosmuck.. They have millions of social media followers, each with their own niche, but with the same goal of helping the black community balance books and build wealth.

Dunlap told CNBC that he believes economic freedom is as important as social justice. “Without us financial freedom and financial literacy, we really don’t have justice,” he said.

Dunlap urges black Americans to pay special attention 2017 report It predicts that the median wealth of black households will drop to $ 0 by 2053, looking for opportunities to invest. “I don’t want our people, our children, our grandchildren to be poor, and that’s the challenge we face if we don’t act collectively,” he said. Told.

Elsewhere, Williams calls himself a “liberation activist” and an influential person.Williams is the CEO of Black upStartA company that provides education and support to early entrepreneurs.

Over the past few years, Williams has urged black consumers to see Juneteenth as an opportunity to support black businesses and post receipts with the hashtag #myBlackReceipt.

“The money you spend in their business to give back to their community, create the products and services our community needs, and build wealth for families who can generate profits for generations. Invest in a black entrepreneur who uses. “Williams said.

Meanwhile, Michael aims to help 100,000 blacks become millionaires by 2030 through real estate. He boasts a $ 250 million real estate portfolio created from $ 850,000 seed money from his relatives.

“The asset class that has created more millionaires than any other millionaire is real estate, which is one of the” easiest “way to get that point,” Michael told CNBC. “What I really want to do is normalize those conversations in a casual format where you can talk about your investment portfolio as easily as we talk about the trips we made and the shoes we bought.”

The Earn Your Leisure podcast sees pioneers as a new area of ​​financial influencers, gaining many celebrities in the business, sports and entertainment world to discuss their financial plans, mistakes and goals. I am. Those guests include Mark Cuban, Shaquille O’Neal and Steve Harvey.

The hosting pair also created the hashtag #AssetsOverLiabilities, which became the philosophy of content and the motto used in T-shirts and other products. Bilal and Millings launched a podcast in January 2019 with the goal of providing an easy-to-understand explanation of the black community Wall Street.

“We wanted to make learning about finance and generational wealth cool. We wanted it to be a natural conversation. I didn’t grow up in that conversation at the dinner table. I wasn’t discussing the best basketball players, but I was talking about the top companies. I was talking about what it could do in the neighborhood, “Millings said.

Bilal and Millings believe that Earn Your Leisure has evolved from content creation to truly educating the black community about wealth creation.

“Education is long-term sustainable. In a formal setting, the way you understand someone’s learning is to evaluate,” Millings said. “Our rating is when we hear feedback when we go out, and when people hear and talk to us, or they send us an email” This is me It changed my life. ” “