If you read Lexy’s story below, you will see that she talks about creating generational wealth. White people have had years to implement ways to keep their family wealthy way past their immediate families. They have had the chance to take measures to insure that family members coming after them are set financially as well.
On the other hand, black people have not. Why? I am not entirely sure. Some people blame it on not having the resources, others blame it on the greed of slave owners between 1492-1865, and others blame it on the misinformation of finances to black people.
From my experience, I have seen my mother become stressed over the financial state of everyone else in my family despite our decent financial state. My mother continuously tries to bail our extended family out of situations stemming from poor decisions.
Though it is our familial duty, simply bailing our family out of situations that they put themselves in does not help them. We have to break that curse of being our families’ crutch, and actually educate them about finances. When I asked my mother why she does it, she says because she wants to break the generational curse and start creating generational wealth.
This curse is truly a dark cloud over black people, which we can reverse through financial education.