Economic Development
Financial Fortitude For The Total Woman ​
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Financial EmpowerED Pathways is a structured and guided journey towards financial empowerment. The term program emphasizes empowerment, financial literacy, and the multiple routes or strategies available for Black families to achieve financial security and wealth within their community. Participants will learn strategies for navigating their journey toward financial well-being beginning in childhood and ending in secured retirement. This comprehensive approach to providing a viable economic development program includes the following:
Prong 1
Black-Owned and Financially Astute: Black-owned businesses in the NYAC catchment area have faced systemic barriers to economic success, including discrimination in employment, access to capital, and business opportunities. The longevity of Black-owned businesses in Manhattan averages three years. Promoting and supporting black-owned businesses in Harlem and other parts of Manhattan can help redistribute wealth and foster economic independence and resilience for Black entrepreneurs and families.
PRONG 2
Family Financial Health and Wealth: Adequate financial resources allow families to access necessities such as food, housing, healthcare, and education. Additionally, they provide opportunities for recreation, leisure, and personal development, enhancing overall quality of life. Financial stability helps foster a safety net for Black families, ensuring they can weather unexpected expenses, job losses, or other financial hardships without significantly disrupting their daily lives.
Session 1: Reminder
Session 1: September 7, 2024
Vision Board & Budgeting Party
Session 2: October 5, 2024
Redefining Wealth for The Black Family: Creating Sustainable Anti-Poverty Plans​
PRONG 3
WealthWise Youth Crew: Emphasizing financial astuteness within Black youth is essential for long-term prosperity. By providing resources, education, and support for financial literacy, individuals can make informed decisions about budgeting, investing, and wealth management, empowering them to think about viable ways to build generational wealth and break cycles of poverty.
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Many Black children and their families have been trapped in cycles of poverty due to systemic barriers to economic opportunity. WealthWise Youth Crew can help break these cycles by teaching children about financial planning, entrepreneurship, and wealth-building strategies, empowering them to create a brighter economic future for themselves and their families.
Session 1: October 4, 2024​
PRONG 4
Savvy Credit Moves: Good credit is essential for building wealth and achieving financial stability. It can impact Black families' ability to secure favorable interest rates on loans, access higher-paying job opportunities, and qualify for housing and financial assistance programs.
By teaching participants how to improve and maintain good credit through "Savvy Credit Moves," we can help pave the way for greater economic prosperity and upward mobility within the Black community.
Prong 5
Financing Housing Security: Housing security fosters strong Black communities and social connections. When Black people and families feel rooted in their neighborhoods, they are more likely to engage in community activities, build relationships with neighbors, and contribute positively to the social fabric of their communities. ​
Housing stability is also linked to economic stability. Affordable and secure housing allows individuals and families to allocate resources toward other essential needs, such as food, healthcare, education, and savings, fostering greater financial security and resilience.
I'm Not One to Gossip Corner
