The Importance of Financial Literacy: A Conversation with Selena from Black Girl Finance

💰Financial literacy is essential for everyone, regardless of gender or race.

📚Black Girl Finance aims to empower black women when it comes to their finances.

🎙️Selena is an author, podcast host, and British Bank Award winner in the online financial influencer category.

🚀Building credit from a young age and having conversations about money early on can set individuals up for financial success.

💪Black women face a credit gap, and it's important to work towards closing that gap and improving financial opportunities.

Why is financial literacy important?

—Financial literacy is crucial because it allows individuals to make informed decisions about their money, plan for the future, and avoid financial pitfalls.

Who can benefit from Black Girl Finance?

—Black Girl Finance is designed to empower black women when it comes to money and finances. However, financial knowledge is relevant to everyone, regardless of race or gender.

What resources does Black Girl Finance offer?

—Black Girl Finance provides financial guidance, not advice, and serves as a platform for discussions, podcasts, events, and authorship on personal finance topics.

How can I start building credit?

—To start building credit, consider opening a credit card or taking out a small loan. Make regular payments on time and keep your credit utilization low to establish a positive credit history.

What is the credit gap for women?

—The credit gap for women refers to the tendency of women to have lower access to credit or have others take out credit on their behalf. This gap can lead to higher costs and limited financial opportunities.

00:00Selena, the founder of Black Girl Finance, discusses the importance of financial literacy for all individuals.

01:35Selena shares her personal journey and the motivation behind starting Black Girl Finance.

06:14She emphasizes the need for conversations around money within households to empower younger generations.

09:43Selena highlights the credit gap experienced by black women and the importance of building credit early on.