How Black Hoosiers can build generational wealth at any age

As Black individuals navigate avenues to secure financial freedom, exploring strategies and pathways becomes imperative. Unfortunately, it is not easy when financial literacy is low among many U.S. adults. On average, African Americans answered 38% of the P-Fin Index, which measures knowledge and understanding of sound financial decision making and management of personal finances. RELATED: From Financial Literacy to Legacy: Empowering Women for Equitable Communities “There are people who are financial advisors who can explain the differences in even insurance for example, because that’s a big thing in our community. We’re not aware of even retirement accounts,” said Monica Warren, CEO of Face Finances. “Something else that people don’t really think about are banking products. So, going to your bank and talking to them about a high-yield savings account or CDs, which is a way to invest your money, but it’s not as risky as the stock market.” Black Hoosiers: financial literacy Warren grew up in a single parent household with her mother, and watching her mother pay off all the debt she and her father incurred so that she should provide a better life for Warren taught Warren how to be a good steward of her money. Face Finances,...