When it comes to personal finance education, representation matters. Black women must have resources relevant to our lives. That’s why I’ve put together a list of five must-read books written by black women in finance. Although relevant to all women, these books were written with black women in mind. They seek to educate and empower each of us so that we can close the financial literacy gap, build generational wealth, and ultimately live the life we desire.
Get good with money by Tiffany Aliché
One day I was browsing social media and came across an infectious black woman saying how she went from a credit score of 547 to over 800, and that she could help me do it too. I signed up for his free webinar and applied his advice. She knows her stuff because she has lived what she teaches. So when his book came out, I was on the front line.
I wish I had this book as a teenager – even a college graduate – so I would have been better prepared financially. It’s thorough and organized – divided into percentages equal to “100% financially complete”. Every section is detailed, from preparing a household budget to building your net worth to investing effectively.
Aliche is hilarious and the book feels like conversing with a big sister helping you learn from past mistakes. His advice is simple to understand yet powerful. There are also worksheets at the end of the book that you can easily complete to reinforce your financial knowledge and understanding. My favorite concept from the book was how to create a “noodle budget”. Game changer!
The 21-Day Financial Fast: Your Path to Financial Peace and Freedom by Michelle Singletary
If you are struggling to spend, this book is for you. This book teaches you how to break bad spending habits and create a plan for financial freedom. It combines biblical principles of fasting with personal finance education. During the 3-week fast, Singletary guides you on the path to financial peace.
Habits take 21 days, and I’ve definitely learned to see my finances differently. I read this book about five years ago and incorporated it into my morning routine, which includes prayer and journaling. It helped me remember how important budgeting is to achieving my financial goals.
I first discovered the power of Patrice Washington through his weekly podcast, Redefining Wealth. True wealth, she always says, is more than money. Its six pillars for redefining wealth are: 1) Fit Pillar, 2) People Pillar, 3) Space Pillar, 4) Faith Pillar, 5) Work Pillar, and 6) Money Pillar.
Often, as women, we have unrealistic and negative perceptions when it comes to money. It can be from the way we were raised or simply not having the tools to know better. We think wealth is about money, but Washington breaks it down completely by saying, “Wealth is the condition of well-being or happiness. Money is only one of the factors of this happiness.
When you take care of those things that make life interesting, you become the kind of person who attracts and receives the wealth you desire. Money is the result of understanding. What you want and who you must become to actually receive it. I highlighted and featured it in the book!
The Money Handbook: A practical guide to money to help you succeed on your financial journey by Tonya Rapley
The founder of My Fab Finance and an undeniable resource to follow on Instagram. The Money Handbook covers the game of saving, budgeting, credit and debt. It begins by guiding you through a financial assessment, which allows you to see your true financial situation. This assessment is followed by concrete steps to start managing your money better.
It’s actually a quick read because the information is relayed in such a simple way. There are links to resources, as well as a workbook to record your progress. Rapley has a way of sharing her story and providing real life examples (and struggles) with money, and how to overcome them in a non-damning way. The activities she offers allow you to reflect while overcoming your fears. You don’t feel intimidated but empowered.
Girl, Get Your Money Straight: A Sister’s Guide to Healing Your Bank Account and Funding Your Dreams in 7 Simple Steps by Glinda Bridgforth
It was the first personal finance book I ever read, and it changed the way I think about money. At the time, I felt lost when it came to my finances. Bridgforth makes it clear that sound money management is about getting to the root of why we spend and the emotional and cultural issues that play into unhealthy financial habits.
The Seven Steps are a holistic approach to identifying your heart’s desires, breaking negative spending habits, paying off debt, developing a spending plan, and building new wealth. This book contains exercises, affirmations, and inspiring stories from black women who have found financial peace of mind. It’s a practical book for healing your bank account and building the financial life you deserve.
Here are a few gems I’d like to place in an honorable mention:
Girl, get your credit straight by Glinda Bridgforth follows on from her bestseller mentioned above. It has a powerful plan to pay off credit card debt and repair your credit score. The book begins with simple exercises that help you clarify what you need. It’s a roadmap to eliminating debt, one step at a time.
Real Money Answers for Every Woman by Patrice Washington are in a question/answer format that is relevant and easy to implement. I love how she shares her past mistakes and challenges and how to take charge of her money.
April is Financial Literacy Month. There’s no better time to add these books to your library. They all provide valuable and practical tools, resources and information you need to get your financial life in order.
