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Jennifer Streaks is a financial journalist and author based in New York. She delivers practical and cutting edge steps to help you face the challenge of getting and keeping your financial house in order. Due to her extensive background in all things money, she is an on-air commentator and an established columnist and reporter having written for Black Enterprise, CNBC and currently Forbes. Her sought after financial tips educate consumers on money and the economy.
Are the wealthy addicted to money, competition, or just feeling important? Yes. Credit... Jupiterimages/Getty Images "Billionaires should not exist," Senator Bernie Sanders said last month. And, at the Democratic presidential debate this week, he said that the wealth disparity in America is "a moral and economic outrage."
The wealth gap between white and black Americans is widening: Black families now have 10 times less wealth than whites. Sen. Tim Scott (R-S.C.) thinks he knows why, and he is trying to do something about it.
Roger Leary wanted to travel, and he preferred to not do it alone. The 56-year-old DJ from Massachusetts was in search of fun, hassle-free travel experiences with like-minded individuals. After experiencing some pretty horrific dates, he decided to turn to social media and eventually used it to find companions of a different sort - those who were willing and available to join him on his excursions.
Even with health insurance, more and more individuals are finding that they cannot afford their medical bills. A recent study published as an editorial in the American Journal of Public Health found that 66.5 percent of all bankruptcies filed by Americans were tied to medical issues (due to high costs or time out of work).
August marks National Black Business Month, a time when companies are doubling down on their efforts to support Black-owned businesses. But for the Foundation for Business Equity, this has been a priority since 2017. The organization's goal is to close the racial wealth gap by breaking down the structural barriers, including lack of access to business resources, keeping Black and Latinx businesses from growing.
Evan Leaphart, cofounder of Black Men Talk Tech, knows first-hand what challenges Black men face in seeking funding for their businesses. And without a solid credit score, this problem intensifies-something Leaphart, in his early 20s, learned when he failed an employer's credit check because of missed payments on his credit report that took him years to repair.
Ongoing racial inequalities and wealth gaps-further exacerbated by an ongoing pandemic-continue to prevent Black and brown business owners from gaining much-needed access to capital. One former lawyer is stepping in to help.