Black personal finance influencers are making financial freedom a focus this Juneteenth

Black personal finance influencers are making financial freedom a focus this Juneteenth

Social influencers who focus in financial literacy for Black community are spreading the importance of financial freedom this Juneteenth day as the country remembers that slavery ended in the United States. Bilal the former financial advisor, said: “The importance of freedom both economically and social on Juneteenth is something that people should keep in mind every single day.”

Earn Your Leisure is centered on financial literacy, has over 1 million users in Instagram it is part an expanding movement of content creators who provide information and advice on markets and real estate, cryptocurrency entrepreneurialism, and many more.

“Let’s see where it goes. According to Earn Your leisure’s Troy Millings, a former physical education teacher. They’re also making a clear connection between the goals of financial freedom in the present and the economic effects slavery caused upon America along with its Black citizens.

“Understand that people literally died for finances,” Bilal declared. “That’s what slavery was really about. “So when you see our ancestors actually sacrificed their lives and that was done for economic empowerment, it forces you to look at your finances,” he explained. “You don’t want to just waste your money.

 Black Americans are at a disadvantage in terms of wealth. According to an Federal Reserve study released in 2020 The median wealth of Black family members within the United States was about $24,000. The median net worth of white households was around $188,000.

Other influential people spreading the message of economic emancipation on Juneteenth are Ian Dunlap aka The Master Investor, Kezia Williams, the Wall Street Trapper Philip Michael and Ross Mac. There are millions of followers on social media and each has their own distinct niche, but all share the common goal is to help the Black community to balance their books and accumulate wealth.

Dunlap stated to CNBC that he believes freedom in the economy is as crucial just as justice on the social level. Dunlap insists Black Americans to give particular focus on a report from 2017 which predicts that the median wealth of Black households to fall to zero by 2053 and to search for possibilities to put money into.

Williams declares herself an “emancipation activist” as well as an influencer. Williams is the chief executive officer for Black upStart, a company that offers education and support to entrepreneurs at the beginning of their journey.

In the past, Williams has urged Black consumers to see Juneteenth as an opportunity to help Black businesses and to share their receipts using the hashtag #myBlackReceipt. “Invest in those Black entrepreneurs who will use those dollars that you spend with their business in order to give back to their communities and create products and services.

Michael also has as his goal to help 100,000 Black people become millionaires by 2030 via real estate. Michael boasts a $250 million portfolio of real estate that he built using $850,000 of cash from a relative. “The asset class that has created more millionaires than any other is real estate. That’s one of the ‘easiest’ ways to get that point,” Michael said to CNBC.

Earn Your Leisure podcast Earn Your Leisure podcast is thought to be an early pioneer in the new field of financial influencers. It has enlisted a number of high-profile individuals from the world of sports, business, and entertainment to talk about the financial strategies they have, their mistakes, and hopes. Some of the guests featured include Mark Cuban, Shaquille O’Neal and Steve Harvey.

The hosting pair also created the hashtag #AssetsOverLiabilities, which has become the philosophy of their content and a motto used on T-shirts and other merchandise. Bilal and Millings started their podcast in January of 2019 to help dispel the myths of Wall Street for the Black community.

“We wanted to make learning about finance and generational wealth a cool thing. But imagine if we did. Imagine if at the barbershop we weren’t arguing about the best basketball player but we were talking about the top companies — what that could do to a neighborhood.”

Bilal and Millings say Earn Your Leisure has evolved from producing content to educating the Black community on the concept of wealth creation.

“Educating is something that is sustainable over the long term,” Millings declared. “In the formal environment, the method you evaluate the progress of someone’s education is by assessing. We assess when we receive feedback and when we travel out and meet the people and they talk about their experiences or they email us say, ‘This experience changed my life’