Financial independence is not an easy thing to achieve for many people.
While the education system covers many important subjects like math, science, and English, financial literacy and money management are often overlooked.
RELATED STORIES
People often spend their adult lives accumulating debt and then struggle to pay it off. The lack of stability, savings, and overall financial assurance can take a toll.
Historically, Black American families have struggled the most financially.
After the abolition of slavery and the great migration, many freed Black slaves were already at a severe economic, systemic, and educational disadvantage compared to white and non-Black Americans.
Race and gender pay gaps also make financial independence difficult in the Black community.
According to Payscale.com, “Black men experience a pay gap of $0.98,” and according the Leanin.org, “Black women earn 38% less than white men and 21% less than white women.”
While these studies were conducted in America, many studies in other countries have similar results.
Both of those studies were conducted in 2020, making it clear, there are still very strong financial inequities that are rooted in anti-Blackness.
Recently, one father decided to do something that would help support his daughter’s future.
This father decided that he was going to make a major purchase for his daughter’s birthday. Not to spoil her, but to teach her an important life lesson.
This Alabama father says that he wanted to start a new family tradition to inspire generations of financial independence.
“No more being trained to bury yourself in debt and spend your best years digging out of the hole,” Avee-Ashanti Shabazz wrote in a Facebook post .
Financial freedom is something that many parents hope their children will have, but it’s not always easy.
“Let’s put our children in POSITION to be FREE to live how they choose while they’re young and full of life,” he wrote.
He asserted that in order to give our children a chance to enjoy their lives fully, financial independence is a must.
Avee-Ashanti gifted his daughter something huge for her 13th birthday.
“This was not random, it was planned. This marks the beginning of a family tradition where every Shabazz will be gifted a house on their 13th birthday, and taught to build it into multiple properties before they are legal adults,” Shabazz explained.
It’s often hard to build a better future, but you’ve got to start somewhere.
At only 13, his daughter is a new homeowner, and hopefully, will be able to keep extending her property ownership in the years to come.
Shabazz wants to change the narrative around Black wealth.
Government policies like the Jim Crow Laws and Fair Housing Act led to many Black families being barred from building generational wealth.
Shabazz and other parents like him are determined to erase the racial wage gap.
Generational wealth has to start somewhere.
From the historic burning of Black wall street to the pushback against Black-owned businesses, Shabazz’s mission resonated with others with the same hopes for their children.
Tdj Payton commented on Shabazz’s Facebook post about the gift for his daughter, saying, “that is what I am talking about!!! Make your money work. For years as a people we worked land for other’s worth, now, let us work our own land for our own self worth!!! GOOD JOB DAD!!! TEACH!!!”
This father wanted to show his daughter how to make a house a home.
His 13-year-old daughter’s home needed some updating, and this father wanted to continue on the path of leading her by example.
Remodeling the home is only the beginning.
After posting the pictures of the newly renovated home, Shabazz received positive comments from many people.
“This is amazing. I’m planning on doing the same thing for each one of my daughters,” a commenter posted.
Only time will tell if this father’s dream for his family comes true, but this certainly seems to be one powerful way to get started.
There may be quite a few parents following Shabazz’s example.
Shabazz’s post has 48,000 shares and over 3,000 comments.
Not only that, but people have been tagging others to share this idea, and some are even making plans to follow in Shabazz’s footsteps with their children.
In fact, some of the people commenting have already thought of this themselves.
Warren Wrencher exclaimed, “Yes! This is what I did for my daughters. They each received a home before becoming legal. I am a contractor and teach them the business of investing as well! It is for their college tuition, gaining assets, learning how to be businesswomen, financial responsibilities, and the power of ownership. Keep up the good work bro.”
Shabazz is not only closing in on the wealth disparity, he is creating a much-needed discussion on generational Black wealth.
