Power Of Women ‘Sisterhood Sessions’ | Life Lessons Learned: Finances-Women Of Color And Money Matters
What I’ve Learned
Connie Green-Johnson a Sisterhood Share Club Contributor sat down for a one on one Sisterhood Session to share a special lesson for Women Of Color and money matters. She shared that one of her greatest life lessons learned was simply that you must
“Learn to value money, not worship it” and know what that means.
Matters Of Money
During her Sisterhood Session, Connie addressed matters of money in the African American community. Acknowledging that often times it is something that has not been discussed in the Black Family unit. As a result, managing finances or understanding the value of money as an adult may prove more challenging for Women Of Color.
Connie pointed out that Black Women are a component of one of “The largest Consumer groups in America”. Even with that economic clout, she commented from her own personal lens, yet “We have less respect.” Her response to the perplexing public perception, “We need to be less of a Consumer.”
According to a UGA Today report, “African-American buying power, estimated at $1.2 trillion in 2016, will grow to $1.5 trillion by 2021, making it the largest racial minority consumer market.” Conversely, their saving habits may not have caught up to their spending trends. The same report indicated Black People invest less of their monies in Pension Plans, although their level of education, business ownership, and earning potential continues to increase according to the study.
Connie wants that to change. She offers a special message for Women Of Color on money matters based on her personal experiences from life lessons learned that have served her well and allowed her to live in financial comfort.
A Special Message ‘For Women Of Color’
Connie was passionate when sharing a special message for Women Of Color. On the matter of money and happiness, she declared as though presiding over a community of women, “Sisters, money doesn’t buy happiness, but it makes it comfortable”. She immediately followed with a clarifying statement of the most basic role money plays in your life, but “If you don’t have money to pay your bills, you’re not going to be happy.”
Lessons On Money
Connie pulled from lessons that she has learned over the years and what she refers to in her Sisterhood video session as “Money 101”. As an African American woman, Connie has a deep personal connection for wanting to share this lesson on money management stating, “I wanted to really speak honestly about Money 101.” Continuing, “I think most of the time Women Of Color aren’t really taught how to take care of themselves”. As such, she wants to share her knowledge garnered from a community of Mentors, and personal experience to ensure the next generation of Women Of Color has a better understanding of money early on and ideally began an active conversation with their Children about what it means to ‘Value Money’.
Key Life Lessons On Money:
- Learn About Money-Surround Yourself With Knowledgeable People On The Subject Of Money.
- Value Money, Don’t Worship It-When You Value Your Money You Take Great Care In How, Where, And On What In Which You Spend. As A Result, You Have It When You Need It, Which Affords You Freedom To Enjoy Life.
- Save Your Money-Be Creative In Saving. Minimize Your Debt And When You Payoff A Bill Or Receive A Raise, Pay Yourself By Putting That Extra Money Away (Invest) In A Savings Plan.
- Practice Minimalism-When It Comes To Your Wardrobe, Minimize The Volume. Invest In A Few Quality Items That Are Timeless Or “Time Sensitive” And Versatile For Wear. Avoid Chasing Fashion.
- Invest Your Money-Decide On A Percentage Of Your Paycheck To Invest And Be Consistent. Create A Financial Portfolio That Works For You.
- Love Yourself
~Connie Green-Johnson, North Carolina-Sisterhood Share Club Contributor/Contributing Member. Interview Date, June 3, 2019.
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Disclaimer: Sisterhood Sharing Sessions has no affiliation with any programs or businesses referenced in the sharing session. Life lessons shared are informational and educational only, based on actual individual experiences.