Musiq Soulchild penned a song with the lyrics, “Soon as I get my money right, I’ma take good care you.” While the neo-soul singer talked about the financial responsibility of supporting a romantic partner, there is a conviction in the song centered around taking the necessary steps toward financial health. The internet is bombarded daily with thoughts and ideas on obtaining wealth and what it means to get in your financial bag. And with the freedom the internet provides, there is little to no guidance on who can share what type of information. However, in the flurry of folks vying for attention, several people have the dedicated goal to offer practical, tried, and factual information that can take a person from where they are to where they want to be financially. The next time you seek advice around budgeting, investing, estate planning, and saving, here’s who you need to tap in with.

Around here, Financial Literacy Month is every month, and I’ve applied financial hacks to help seven-figure businesses. Without resources, applying hacks may not be the most beneficial, but in this article, I’m going to outline resources you can apply to your daily life. So, let’s get started!

Black Americans own 2.2 percent of the nation’s 5.7 million employer businesses, according to U.S. Census data. Yet, many lack the proper financial tools, guidance, and resources to succeed. States like Georgia saw a big jump in business growth last year with a 57 percent increase in new business formations. While this may seem exciting, Black businesses historically bring in less revenue because they face challenges related to funding, business models, financial understanding, and leadership. McKinsey & Company reported that while approximately 15 percent of white Americans hold some business equity, only five percent of Black Americans do. Octavia Conner, a virtual CFO and founder of Say Yes to Profits, told AfroTech that for Black business owners to succeed, they’ll also need more support from corporate America. She said corporate America needs to stop limiting opportunities for entrepreneurs based on the color of their skin, offer more programs and financial resources, and grant...

Float, a start-up company with offices in Nigeria and San Francisco, is here to solve the problems that many African companies say they have with cash flow. According to TechCrunch, 85% of African SMBs have zero access to financing, which creates issues in the supply chain. Jesse Ghansah and his co-founder Barima Effah founded Float — originally named Swipe — 18 months ago with the hopes of closing the gaps in the funding. ” Cash flow [is] the number one problem that [businesses] face,” said co-founder and CEO Jesse Ghansah to TechCrunch. “Because you’re waiting for your revenue to come in, they sometimes fall behind in meeting certain expense payments like payroll, inventory, utilities. That’s what really causes a lot of these cash flow issues, and because of that, businesses can’t grow.” For Float, solving cash flow problems involves providing the users with credit when they need it, and working capital when possible. The founders say that this approach to extending credit and...

New year. New resolutions. New winning habits. If it hasn’t been on your list, investing some of your money in the stock market should be. People all over the country are making real money in the stock market every day, and you can too. Maybe you’re skeptical, having heard horror stories from others about large losses. Or maybe you think you need to know a lot or spend time or money you don’t have to be a successful investor.  Don’t let these thoughts and feelings stop you. Here are three things to think about as you consider buying your first share. Risk and Reward Few investment options rival the stock market. Some people, wary about its risks, park their money in savings accounts or investment properties. However, over time, the stock market has returned approximately 7% (post-inflation) each year since 1940. Compare that to a 1.5% post-inflation return for real estate. You can earn more than that by parking your money in certain savings accounts, and without the headaches of...

Looking for new investment opportunities, have some disposable cash, and possess a healthy risk tolerance? Well, currency and currency derivatives trading may be a good fit for you. Investors, large and small, trade currencies and derivatives in a massive global marketplace known as the foreign exchange market (also known as forex or FX). To understand forex and the opportunities it may present for you, you need first to understand a bit about currency trading. Currency Trading Say you travel to Japan and need to pay for your food, hotel, and other items while there. You’ll need to exchange your dollars for Japanese yen at a ratio known as the exchange rate. Exchange rates change relative to one another due to central bank manipulation of interest rates, deficits in a country’s current accounts, national debt, and a host of other factors. Institutions and individual investors speculate on the variations in currency prices by buying (or selling) a currency pair — in this case,...

It’s never too late to start investing. And with today’s online discount brokerage options, you don’t need thousands of dollars to get started. You can actually invest with as little as $5 using some app-based brokerage platforms and start down the road to achieve your financial goals. Here are five tips to help you get started. Establish an Emergency Savings Account Make sure you have some cash aside for common emergencies when you begin investing. Relying on your investment portfolio for relatively common but sudden expenses like emergency car repairs is a bad idea because it will take time to access your money — time you may not have. You’ll also lose out on potential gains, and if you withdraw your funds from a retirement account, you may have to pay penalties to the IRS. Set Clear Investment Goals Don’t let that hot stock tip you saw online guide your investment purchases. Instead, look at your finances, your personal and professional goals, and your budget. Then write down...

When it comes to personal finance advice, it can often feel difficult to find information that is relevant to the black experience. Black Americans often face financial hurdles such as pay inequality, predatory lending and hiring discrimination, all of which have contributed to a racial wealth gap. “People are working hard, but if every part of their life is discounted, how can they catch up?” says financial educator Tiffany “The Budgetnista” Aliche. According to the most recent data from the Federal Reserve, as of 2016, the median black household net worth was just over $17,000, while for the same year the median net worth for white households was over $170,000. And while the median household income for black Americans has risen between 2013 and 2018, it is still 33% lower than the national average . Marcus Garrett, co-host of the podcast “Paychecks & Balances,” says the answer to closing the wealth gap between black and white Americans is multifaceted. “First, we must address what...