BlackFem’s WealthRise(R™) model is the only researched-backed solution that intervenes and engages with all stakeholders and centers in a community where financial trauma can be perpetrated against Black girls and underserved communities to increase their wealth building capacity.
Current financial education is fraught with many problems. First and foremost, financial literacy education is born from an inherently racist and exclusionary financial system and currently only serves to perpetuate financial trauma stemming from chronic financial stress and abuse. Logistically, school systems, municipalities, and states want to prioritize financial education, but often find there are several barriers to implementation as well.
These barriers include: (1) school districts, cities, and states not knowing how to implement high-quality, anti-oppressive financial education into the fabric of families’ lives; (2) partners not having the resources to deliver effective financial education programming; (3) ensuring that parents, teachers, caregivers are equipped to provide high-quality financial education to children and students; and (4) ensuring that financial education complements the cognitive, behavioral, social, and emotional development of the child.
Emerging research suggests both family and school can positively affect financial literacy in adults. If family cannot deliver financial education to their children, then district-, city-, or state-wide programs must step in to bridge the gap.