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gender wage gap
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Black women working full-time make nearly $1 million less than white men during their careers, the National Women’s Law Center recently shared in a research report. While the wage gap affects all women, it arguably affects Black women the most since they face race and gender discrimination. Black women, on average, are currently paid 63 cents for every dollar that White men make. That amounts to a loss of $2,009 a month, $24,110 a year, and $964,400 over 40 years for Black women. This stark reality is why Aug. 3 is marked Black Women’s Equal Pay Day every year, which signifies the extra 214 days Black women would need to work each year to catch up to white men’s salaries. Put it this way; Black women will have to work until they are 83-years-old to reach the salaries white men make at age 60. “I don’t think it’s talked about as much as it should be,” Tiffany Williams, a business and marketing strategist, told AfroTech. “The wage gap is so prominent because there’s a lack of...
Bola Sokunbi — founder of Clever Girl Finance — is making her mark on women and financial literacy. Sokunbi, a certified financial education instructor, finance expert, author, and speaker, recently appeared on ABC’s “ GMA ” and a host of other news programs. However, Sokunbi was not always financially savvy. A series of early life experiences broadened her perspective and set her on a path toward financial independence. During her formative years, Sokunbi imagined new possibilities after observing her mother’s transition from a lack of financial awareness to financial stability . Her perspective became clearer following her accumulation of credit card debt in college. That pivotal moment heightened Sokunbi’s awareness of financial wellness and increased her desire to become more informed. She embarked on a journey to read more about retirement savings and investments, and was inspired to undertake a tremendous feat: amassing $100,000 in just over three years following graduation ....