FINANCIAL LITERACY
In Focus
"See more clearly when you are informed"
The Black Lives Matter movement swept across the United States in the summer of 2020 and it has remained a central part of America’s conversation on race. However, with so much contention and vitriol swirling around the topic it can be hard to get a handle on just what exactly Black Lives Matter means. Below you will find key terms, statistics, and other useful tools to understand and talk about Black Lives Matter. If you would like to know more, consider coming to an IYC event. Our next one can be found below in the section labeled Our Events. We host them virtually, on a wide range of topics, discussing policy, civics, and current events.
Key Terms You Should Know
Student Loan Debt Forgiveness:
Elimination of some or all debt from college loans. Compounded interest, inadequate financial advisement, rising college costs, flawed student loan system are rationales for forgiveness.
Asset:
An item you own w/ financial value (e.g., stocks, bonds, 401Ks, IRAs, CDs, 529 accounts, jewelry, crypto-currency, art/NFT art, precious metals & stones, & real estate). Some have more volatility in value than others.
Credit Union:
DNot-for-profit financial institutions similar to banks; require membership; often have better terms; different from SuSu (informal loan club).
Unbanked:
Households w/out a checking or savings account insured by a FDIC or NUA institution; more likely for young, Black, or Latinx people; can have implications for credit history, higher transaction fees, limited financial options, ability to receive government benefits, etc.
Financial Abuse and Predatory Lending:
Deceit and/or concealment of information that is illegal or improper in order to deprive of money, property, etc. The elderly, spouses, students, and the disabled are typically at higher risk. Includes financial and/or property exploitation, identity theft, fraud, loan sharks, misappropriation of funds, scams, predatory student or mortgage lending.
Moments In History
1870 - 15th Amendment gives African American men the right to vote. Local & state laws still worked against these rights.
1954 - Brown vs. Board of Ed mandates schools desegregate. 10 years later, the Civil Rights Act prohibits discrimination in businesses.
2020 - BLM protests occur worldwide sparked by George Floyd's death, though the movement began in 2013 after the shooting death of Trayvon Martin.
1921 - Tulsa Race Massacre occurs; also known as the Black Wall Street Massacre.
1968 - Martin Luther King Jr. marches with the Black sanitation workers on strike in Memphis, Tennessee.
Statistics
As reported by The Armed Conflict Location & Event Data Project, 93%
of racial justice protests have been peaceful in the US.
According to the Howard Center for Investigative Journalism, 300
new police reform bills that states collectively approved after George Floyd's death.
According to the Crowd Sourcing Consortium, there were 140
protests a day between 5/26 and 6/7, 2020.
74% of US adults acknowledge "systemic policing issues," as reported by Oakton College.
150,000
enslaved people in Texas were the last to find out they were freed by the 1863 Emancipation Proclamation when it was enforced on June 19, 1865, aka Juneteenth represented by fists w/ broken chains.
Values
Safety Net
Stability
Risk Tolerance
Budget
Living Within Your Means
Notable Names
Rosa Parks
John Legend
Patrisse Cullors
Colin Kaepernick
Malcolm X
Symbols
Our Events
Past
Future
Further Resources
Black Lives Matter Infographic
Share what you have learned about Black Lives Matter. Our Infographic has been designed to be shared easily by printing, emailing, or posting on social media. Click on the image to view or download the PDF File. (Not for commercial use.)
Celebrate & Create Event Video
Our crafting event for kids was lots of fun! Use your own materials to participate in our craft project. Watch the video to learn how to make your own bookmark! You can also make an event out of it by hosting your own Celebrate & Create: Black Lives Matter crafting party. Feel free to share this video with others! (Not for commercial use.)
Take Action
Get into the habit of avoiding impulse purchases.
Be a role model by ‘thinking aloud’ in front of the children in your life.
Commit to one financial goal a month to build personal wealth.
Seek the advise of an expert when you do financial planning (e.g., retirement advisor, financial advisor, estate planner, tax attorneys, debt consolidators, bankruptcy professional).
Share our Financial Literacy Infographic with friends, family, and anyone and everyone you think would appreciate becoming more informed!