• Afro Social Centric

Money May: Financial Literacy as the pathway to Generational Wealth!

Well what do we have here? We blinked and it’s already May. Luckily, they do say April showers bring May flowers. And when we tell you how ready we are for these greener pastures and flourishing fields - We are rea-dy!


Speaking of greener pastures and flourishment, another shock to our systems is how we just survived the ultimate money season - taxes! There is something about tax season that leaves us questioning our life choices and financial portfolio. It leaves us wanting to do a financial check-in and dust off those "new year, new me" goals from January and see how we’re holding up as we inch closer to that mid-year mark.

As the month of May brings us to the cusp of new growth and blossoms, we’ll be talking about just that - net growth and a blossoming portfolio! But where does one begin? In these days of leveling up, entrepreneurship, investments, bitcoin, side hustles, and real estate; the hype and methods of success are plenty. But what’s the best approach? Are we doing it right? How do you balance what you’ve already started planning and stay on top of the next best thing? Or do we just stay the course? These are questions we've most likely have on more than one occasion. And for our community in particular, you can’t talk money management without talking about generational wealth.

Generational wealth refers to any kind of asset that families pass down to their children or grandchildren, whether in the form of cash, investment funds, stocks and bonds, properties or even entire companies.

The best way we’ve been able to answer these questions for ourselves is to increase our financial literacy. Best believe those with generational wealth have a have a sound understanding of financial literacy and and a thoughtful relationship with money.

Financial literacy is the understanding of financial spending, saving, and budgeting.

Financial literacy is that super essential class we should have had in grade school but will forever be bitter about learning algebra instead. I mean, we don’t remember the last time we used a variable to pay rent, but it sure would have been nice to get early skills on how to best utilize our regularly earned income to make our dollar stretch past payday. If you are able to understand and skillfully manage your budget and investments you folks are financially literate.

The reality is that finances are getting even more complex these days and we all want to get rich quicker than the previous generation. And so, financial literacy simply gets you to the playing field still wondering which gameplay leads you to generational wealth? Should your focus be on budgeting, borrowing, building an emergency fund, investing, homeownership or entrepreneurship? How do we get from point broke to point happily retired after?

It soon becomes apparent that after some basic financial literacy skills, we may need to consider outsourcing the skills to allow us to make informed decisions about our finances at every step of our lifetime.

Someone like a financial advisor can help provide you with personalized advice about your finances. And like any professional, they’re not all the same so we recommend shopping around for someone who understands your current and future goals and the various needs you will have. And no, you don’t need to be a millionaire to consult someone on your finances or implement smart financial skills. You spend much of your days and lifetime working hard to earn an income and how you allocate this income determines a significant portion of your wellbeing from housing, food, clothing, childcare, travel and leisure among other areas.

So, whether it’s $150 or $15,000 in that account, you’re already making choices around your finances, why not make the choice that will give you confidence in your financial future!

Like we said, the money game is complex and luckily you have a diverse team of experts in your corner such as:


Rich Her is a Lifestyle Financial Coach helping black female professionals create solid money systems so they can invest with peace of mind. You can book a one-on-one financial facelift with this expert coach who’s been in the game from time.


Orlando Lopez is an Investment Advisor & Financial Planner advisor committed to bringing knowledge and experience to his client’s wealth journey, to help guide them in making sound financial and investment decisions.


The Kean Real Estate Group is a Black-owned, women-led company in Toronto specializing in property investment. Their business is all about building generational wealth for their families, clients and partners.


Find these and other experts on our directory and get your money working for you!


Have a go-to financial wiz that's been doing wondering in you life? We'd love to hear about them and build on our collective expert community!



-Your ASC Connect

#SupportBlackOwned #TellAFriendToTellAFriend