Hello Reader,
June 19th aka Juneteenth is the day in 1865 when the last enslaved Black Americans in Galveston, Texas were informed of their freedom. This was a whole two and a half years after the Emancipation Proclamation. It's a celebration of freedom and resilience. But also? It’s a reminder: freedom didn’t come with equity. The economic foundation many were promised was never delivered.
💬 Rant:
Let’s get honest: We often hear “Just work hard and be smart with your money.” But generational wealth isn’t built on bootstraps alone. The federal reserves data shos that Q4 of 2021 the top 1% of household in the united stated held 30.9% of our country’s wealth. The bottom 50% only held 2.6%. That is a massive gap.
Generational wealth is built on access, opportunity, and time. The Black community was systematically denied those things for centuries:
- No reparations after slavery ended.
- Redlining and homeownership discrimination.
- Predatory lending and school underfunding.
- Wage gaps and investment exclusion that continue today.
💡 According to a 2019 Federal Reserve report, the median white family has 8x the wealth of the median Black family.
Even with equal income, Black families typically hold less wealth due to compounding factors like historic housing discrimination and limited inheritance opportunities.
So when we talk about Juneteenth and money, we’re not just reflecting on the past. We’re looking at the systems still in play and what it means to build wealth equitably today.
👀 Reflection:
I used to think talking about money was just about budgeting and debt payoff. But coaching has taught me this: you can’t ignore the context. Financial advice without historical awareness and familiar awareness often misses the mark. Now I strive to be a coach that doesn’t just tell you to "spend less" but one that holds space for the systemic reasons why so many feel behind in the first place. The gap didn’t start with you. But you do deserve the tools and community to close it.
My mother and grandparents immigrated here. Both of my Husband’s parents immigrated here. They faced different societal pressures and contexts while starting to work compared to what we did. Their upbringings were far different than our own. Now even my kids have a different upbringing than we did. This is context that shapes how money conversations are had or not, which means that financial literacy might be passed down or passed over. Generational wealth doesn’t just end with the one that generates it, it has to be passed down with knowledge.
🔗 Resources:
📚 Books to Deepen Your Understanding
These explore history, systemic injustice, and paths toward building financial equity:
- The Color of Money: Black Banks and the Racial Wealth Gap by Mehrsa Baradaran
→ A powerful dive into how banking systems excluded Black Americans from wealth-building.
- The Whiteness of Wealth by Dorothy A. Brown
→ A tax law scholar exposes how U.S. tax policies have reinforced the racial wealth divide.
🖊️ Quick Tip: If you’re looking to be an ally, support or amplify the work of Black financial educators and community wealth builders. Buy their books, share their work, and show up for the conversations.
Black Financial Educators to Learn From & Support
📌 Tiffany "The Budgetnista" Aliche
- Why: A former preschool teacher turned bestselling author and founder of the Live Richer Academy. Her work focuses on financial literacy for everyday people, especially women and communities of color.
- Find her at:thebudgetnista.com
📌 Dasha Kennedy (The Broke Black Girl)
- Why: A relatable voice for Black women navigating debt, savings, and career shifts. Her platform creates space for financial wellness through storytelling and realism.
- Find her at:thebrokeblackgirl.com
📌 Berna Anat (Hey Berna)
- Why: Known as your “financial hype woman,” she centers financial education through joy, cultural relevance, and accessibility—often highlighting systemic issues and practical steps.
- Find her at:heyberna.com
📌 Tonya Rapley (My Fab Finance)
- Why: Focused on making financial freedom accessible to millennial women of color. Tonya has turned her journey of overcoming bad credit into a mission to help others.
- Find her at:myfabfinance.com
📌 Julian & Kiersten Saunders (Rich & Regular)
- Why: A couple who blogs and produces media content on early retirement, investing, and building wealth while centering Black identity and family life.
• Find them at:richandregular.com
In honor of freedom, resilience, and rewriting our money stories,
Coach Becca
📩 Unmuted Money | Debt Tale
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