Breaking Barriers: Bridging the Gap in Financial Literacy and Representation

Author

• Triniti Boson

Date of Award

Fall 12-2024

Document Type

Thesis

Department

Business Administration

First Advisor

Hector Miranda

Abstract

This thesis explores the connection between the lack of financial literacy in Black communities, the underrepresentation of women in financial leadership, and the significance of building generational wealth. Many Black families have historically avoided financial conversations, often overshadowed by pressing economic challenges and a legacy of systemic exclusion, from redlining to discriminatory banking practices. These barriers prevented access to essential financial tools and knowledge, creating distrust in institutions and limiting opportunities for wealth accumulation across generations. Addressing these issues is essential for community empowerment. Financial literacy provides the knowledge to manage resources, build savings, and plan for the future. Generational wealth transforms families' long-term economic stability and resilience, while women's leadership is crucial for diversifying perspectives and fostering inclusive policies within financial sectors. Critics argue that structural and racial inequalities continue to prevent Black families from accessing financial education and wealth-building opportunities at the same rate as others. This research draws on data and literature to connect these topics, underscoring the role Black women play as central figures in promoting financial literacy and wealth in their families and communities. Despite underrepresentation in financial sectors, Black women often manage budgets, make investment decisions, and guide the next generation, showing resilience and strength in advancing household finances. Future research should focus on policies that support financial education in marginalized communities and initiatives that increase Black women's representation in financial leadership, as both are key to reshaping the financial landscape and fostering economic equity for future generations

Recommended Citation

Boson, Triniti, "Breaking Barriers: Bridging the Gap in Financial Literacy and Representation" (2024). Honor’s College Freeman Research Journal. 41.
https://digitalscholarship.tsu.edu/frj/41