Black Women, Please Don't Listen to This Bad Financial Advice 🤯

Black Women, Please Don't Listen to This Bad Financial Advice

This is bad financial advice that was given to me when I was younger. Unfortunately, this bad advice is very common in our community due to lack of financial literacy. But…we live and learn, so I'm paying it forward.

CHAPTERS
00:00 Introduction
01:04 Worst Financial Advice
07:32 Next Video
07:57 Closing

#financialadvice #moneytips #financialliteracy

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💰 ELEVATE YOUR FINANCES

Investor Guide - start investing and avoid 3 expensive mistakes new investors make

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Thank you for watching. 💖

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[moneycoachmalika]

What's the worse advice you've ever received?

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[Cranberries]

I remember a roommate looking at me smugly with a smirk on her face like I was dumb, saying “I look at you running around here saving money. Tomorrow isn’t promised, you could get hit by a truck tomorrow. I’m going to enjoy myself.” She moved out to this luxury apartment. Four months later, she called to ask me if she could move back in! I thought it was absolutely ridiculous advice. And I’ve heard plenty of other people - friends, family, and coworkers - say similar things. I’m really glad I learned differently early on.

[tracylindsey]

Its SO unfortunate that people don't take debt more seriously. FINANCIAL LITERACY needs to be taught in schools, but maybe its planned that way so we will always owe and off to work we go. I now realize how BLESSED I was growing up, because I was told just the opposite and I was wise enough to follow the great advice!

[MoneyOpulence]

Your take is quite informative. I wish more YouTubers would put the same effort into producing a video. Anyway, thank you for sharing this. Keep it up!

[blackwomenbuildwealth]

The way we worship being in debt in North America is baffling. That's why we have so many people struggling to build wealth. Thanks for such a great reminder. Debt might be good if you use it wisely but most of the time, people use it very badly. And that causes so much damage in their finances. Also I got that same second bad advice for the credit card. And that was from the bank advisor, terrible! Amazing video, thanks ❤

[michellehall]

I remember my ex-husband telling me the same thing about debt! The devil is a liar!

[sheische]

Please make video on how to pay cc to optimize your credit score. 😊

[joyharrington]

I had been told you get a credit card to build credit, but nobody told me to run it up AND only pay the minimum! Apparently, though, I made that mistake anyway. 😅 The worst financial advice I ever received when I was young was that buying stock is the same as playing at he casino. So it was decades before I even thought about investing. I was even suspicious of 401ks.