Broke Black Girl founder inspired 65,000 black women to get out of debt
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For some people, it is in the most difficult times that they can find their greatest inspiration. Take financial coach Dasha Kennedy for example.
A few years ago, the 32-year-old St. Louis native found herself dealing with heartbreak, health issues and financial difficulties all at the same time. Although it might have broken many of us, Dasha’s background in finance helped her out of a debt hole, and she walked away from one of the darkest moments of her life with a new mission – to help young women like her achieve financial literacy in a way they could relate to. With that in mind, she created The Broke Black Girl. Since its inception in 2017, the public Facebook group has over 65,000 followers, supported women not only financially but also emotionally with money management resources, and got Dasha off her 9 to 5 so that able to provide full-time financial services. .
She shared her inspiring story with us, and we’re sharing it with you in the hope that you’ll join her growing community and be inspired to take control of your own finances. Learn more about his journey.
MadameNoire: What inspired you to launch The Broke Black Girl?
Dasha Kennedy: A series of financial difficulties hit me all of a sudden. After a short marriage, I struggled to regain control of my finances. A serious foot injury left me out of work and short of pay for over a month, and on top of all that, my father passed away suddenly.
Knowing that many women, especially women of color, don’t have access to resources to gain financial literacy, I decided to start documenting my financial journey on Facebook to see if my story could help other women going through the same difficulties. I started The Broke Black Girl Facebook group in November 2017 because I felt I knew a lot of effective and relevant information on personal finance and budgeting. I wanted to share my tips with women who, like me, needed to get out of a money pit and take control of their situation.
Why is it important to reach out to black women to have conversations about personal finance?
Young women of color are often overlooked and underserved when it comes to personal finance conversations. Black women in particular often face a lack of opportunity which affects our finances. According to the National Partnership for Women & Families, in the United States, black women who work full time, full year receive 61 cents for every dollar paid to non-Hispanic white men.
I’ve seen financial advisors talk “to” young women of color instead of “to” them, failing to recognize that personal finances are personal, leaving black women embarrassed, discouraged and confused about their financial future. .
The Broke Black Girl Facebook Group is a true sisterhood and community committed to having honest conversations about financial issues in hopes of helping each other through our struggles. I hope this community will reduce the stress and shame that being “broken” causes so many young Americans. Together, we were able to create easy-to-follow methods in language that black women can relate to and remember.
How did you end up being able to quit your full-time job to focus full-time on The Broke Black Girl? Where do the revenues come from?
Having already doubled my salary, I was able to quit my day job just nine months after creating the Facebook group The Broke Black Girl. I found my calling as a financial coach and speaker and launched my website to expand my reach in pursuit of helping women. The demand for me grew so high that I could no longer handle a full-time job, The Broke Black Girl band, and my ever-growing client list. Ultimately, I made the decision to take a risk on 40,000 (now 65,000) black women, quit my job, and devote my full attention to providing black women with relevant and effective literacy resources. financial, as so many others have failed to do. before. While I still run The Broke Black Girl Facebook group, I am also focused on growing my business to provide financial services that meet my clients’ needs both virtually and in person.
Why is it also important to share mental wellness tips with the BBG community?
Financial care is personal care. If you’re struggling mentally, chances are you’re desperately looking for some type of temporary relief. Unfortunately, this relief often comes at the end of harmful financial purchases. It’s so important to have conversations about our financial and health struggles. Several studies show a link between financial health and mental health, suggesting that if you suffer from depression and anxiety, you are more likely to be in debt. And when it comes to the black community specifically, only a third of us who need mental health support are actually getting the care we need, according to the American Psychiatric Association.
I encourage women in our digital community to practice self-care in cost-effective ways, such as spending time outdoors, reducing access to social media, reading books, journaling, creating boundaries with others, and practice self-compassion.
How do you take the group offline to really connect? And what are your hopes for the BBG in the years to come?
I’m a huge advocate of offline relationship building. I host several events throughout the year to bring our community behind the screen and meet in person. We stick together when money is tight and times are tough. Although our group is focused on financial literacy, we understand that sometimes that just isn’t enough. Together we have stepped up and helped many of our members financially. Some women in the group found the courage to leave physically and financially abusive relationships, create effective budgets after recovering from lost income, buy their first home and/or car with financial confidence, find a job and manage their finances after being released from incarceration. We’ve been there for each other to offer support online and in person. The Broke Black Girl is more than a band, it’s a sisterhood of women who have dedicated their time and resources to helping other women take a non-traditional approach to money management. Our hope is that the information and knowledge gained from our growing community will be passed on to a new generation and continue to help black women achieve financial freedom. It’s a legacy, and when African American women stick together and help each other, there’s nothing we can’t accomplish.