African American Personal Finance Gurus?

[james.hendrickson]

So, being a personal finance fan and having my phone on the internet, I sometimes get calls from people looking for help.

I had an interesting conversation with someone who rang me out of the blue last night. He was an African American guy who was looking to improve his credit and save $10,000 so he could invest in a Subway franchise.

I was thinking about it this morning, and wasn't sure - are there any famous African American personal finance gurus? There are plenty of white ones - Suze Orman, Dave Ramsey,Loral Langemeier, etc.

[disneysteve]

I don't know of any but I'm also not sure why it would matter. I've read a number of personal finance books over the years and in most cases, I have no idea what race the author was unless there happened to be a picture.

[creditcardfree]

I completely agree that race is not a factor in how to improve a credit score. Pay bills on time and pay off current debt will make a big difference.

[msomnipotent]

Money is green, not white or black. But for the record, there are 2 men and 1 woman that are somewhat regular guests on CNBC that seem to know what they are talking about, and they happen to be black. I never remember names, but the woman has a very preppy name, like Britney or something. I like her.

[disneysteve]

I thought of someone. Mellody Hobson

[rennigade]

Random questions but an actual serious one...Ernie Els and Gary Player (both golfers) are both south african and they happen to be white. When they're in america...arent they technically considered african americans? I dont understand and never have understood why that term "african american" is reserved for someone who is black.

[msomnipotent]

Random questions but an actual serious one...Ernie Els and Gary Player (both golfers) are both south african and they happen to be white. When they're in america...arent they technically considered african americans? I dont understand and never have understood why that term "african american" is reserved for someone who is black.

They would be, if they became citizens of the US, otherwise they are not Americans.

[Petunia 100]

Random questions but an actual serious one...Ernie Els and Gary Player (both golfers) are both south african and they happen to be white. When they're in america...arent they technically considered african americans? I dont understand and never have understood why that term "african american" is reserved for someone who is black.

The caucasians in South Africa are of European descent; they are not native Africans.

[bjl584]

I read a personal financial book a few years ago by an African American author. I can't remember his name.

I'll have to do some digging to find it.

[Nutria]

When they're in america...arent they technically considered african americans?

smh

[scfr]

I like Michelle Singletary ("The Color of Money").

When you started a thread awhile back asking for our favorite PF books and influencers, she's one that I listed.

[StormRichards]

I don't know of any but I'm also not sure why it would matter.

I think it is an interesting question and might matter more than we realize.

[cypher1]

I think it is an interesting question and might matter more than we realize.

Totally agree. In fact, we should also make a list of financial gurus based on their sexual orientation, and religious affiliation (if any).

By having that information, and to correlate with race may somehow matter even more. As for why, I'm hoping you or James.Hendrickson could explain why that is relevant or significant to a Personal Financial forum.

[cypher1]

Random questions but an actual serious one...Ernie Els and Gary Player (both golfers) are both south african and they happen to be white. When they're in america...arent they technically considered african americans? I dont understand and never have understood why that term "african american" is reserved for someone who is black.

I believe the confusion is based on ethnicity vs nationality. I'm not familiar with the athletes, but I'm assuming you meant their ethnicity is caucasian, and nationality African. The first example I think of Sharlto Copley (actor in District 9), who is also a white african.

African American would be a black American, or legal citizen of that country. For example I was born in S. Korea, but came to the US as a baby. Since I'm a legal US citizen I am asian american.

[StormRichards]

Totally agree. In fact, we should also make a list of financial gurus based on their sexual orientation, and religious affiliation (if any).

By having that information, and to correlate with race may somehow matter even more. As for why, I'm hoping you or James.Hendrickson could explain why that is relevant or significant to a Personal Financial forum.

Congratulations. You get an A in sarcasm.

As a white American, I personally try to avoid discussions related to race. In my opinion, it is a lose/lose situation. Instead of using my own words to explain why this is a relevant topic, I will provide an article written by a black man.

5 Reasons Why Black People Are Still Broke

1. Black people spend more money than they make.
2. Black people don't support black businesses.
3. Black people don't save their money.
4. Black people don't know how to invest.
5. Black people aren't working towards getting out of poverty.

https://www.theodysseyonline.com/5-reasons-black-people-still-broke