Monday, March 23, 2009
White-Black Wealth Gap Grows
As I read my daily news this morning this fact caught my eye. "For every dollar of wealth held by the average white family, a black family has only a dime." No big surprise but apparently the gap is getting bigger not smaller. Maybe this can be blamed to people of color being targeted for subprime loans? Blacks not investing into savings? The real change we need is economics 101. Its time we become smart about our money. I always have believed in the saying work smarter not harder. This can be true to this issue in so many ways. We need to become asset builders and not waste our money on cars and rims, clothes and $100 shoes. Honestly, where does it get us in the long run? True we have a lot of rich black people but when it comes to wealth we have to look way down the line to the Oprahs when it should be all of us.