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Women Of Color Historically Don’t Thrive Economically
But you have the power to alter the narrative
Though these barriers don’t affect all women of color, they affect the majority.
The First Two Barriers
Women of color historically have not thrived economically in society. And for good reason.
Being a person of color is the first barrier in a society dominated by the “white standard,” and then being a double minority – a woman poses a second barrier.
However, I’m all about the belief that barriers can be destroyed.
The color of our skin and our sex should never be the determining factor of our income and economic potential.
We’re changing this; I’ve manifested it for myself, and women of color worldwide are manifesting it for themselves.
We can see more and more women of color take the reigns of their financial story and shift the narrative.
Studies say that the average lifespan of the dollar is approximately 28 days in Asian communities, 19 days in Jewish communities, 17 days in white communities – and just six hours in Black communities (Source).
According to CNBC, Asian women and Pacific Islanders are leading the way in earning 92 cents on the dollar of the white man, but black and Latina women have quite a ways to go.
However, there are still many Asian American women that are earning much less than 92 cents on the dollar of the white man.
The longer we can hold onto our money through tactics such as investing, the more we actively increase our wealth potential.
The Third Barrier
Not only do we face being a double minority, but we face the pay gap.
Women and women of color are paid significantly less than white men (the standard).
I was grateful to work at a company that paid women more than men, but that is a rarity.
Most companies still pay men more.
But even with this fact, you can still accept and demand the pay you deserve for your services. Never allow your income to be determined by someone else.
The Fourth Barrier
We were not taught about personal finance in school or by our parents. If anything, we learned to be financially fearful and anxious about money since most people experience a lack of it.
How many of your parents mentioned phrases such as:
We can’t afford that.
That’s too expensive.
Money doesn’t grow on trees.
There’s no way I’m buying that.
That’s out of the question and budget.
Not only have we heard statements such as these, but we have felt the anxiety, fear, and burden our parents, family members, friends, and coworkers have all experienced surrounding money.
I’ve had to do a lot of reprogramming to eradicate unproductive and negative beliefs, patterns, and thoughts passed down or received secondhand through family, friends, and societal messages.
Your Mindset Is The Starting Point Of Change
If you want to shift your financial situation, you must shift your mindset regarding money; this is the key to building wealth for yourself and future generations if you desire.
Most of us have been programmed to think of money and wealth negatively. We’ve also been programmed to believe insufficient resources exist; this is a lie.
There is more than enough for everyone, and all we need to do is start believing this truth to shift our negative energy into positive energy, which will start the wealth-creation process for us.
Do you desire more income, financial freedom, financial independence, or less stress and anxiety?
If so, you can have and experience all of these.
The way you can change your financial destiny will come through specific actions, but a large part of changing your financial narrative will come by shifting how you think about money and your relationship to it.
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This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.