Black Family Finances

When you attend the Plutus Impact Summit, you can expect to walk away with a ton of insights into growing your community and business!

Here's what Latoya Palmer-Addy from had to say about her experience last year!

"The Plutus Impact Summit had diverse speakers from various walks of life who were inspirational. But not only were they uplifting, speakers and attendees shared a great balance between high level, strategical financial approaches, along with simple examples that can be applied to my own financial journey."

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We appreciate you, Latoya!

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We're excited to see you all at the Plutus Impact Summit today and Plutus Awards tomorrow!

Haven't registered yet? Visit www.plutusimpact.com so you join the party!

Your ability to appreciate yourself, people, and the life your creating is an essential life skill that gets better with practice.

Combining gratitude journaling with action helps increase positive emotions research shows. Think of it as a multi sensory approach to help it stick.

For 25 days out of September (ya know for when life happens) I challenge you to practice gratitude in a variety of ways. (See photo)

You don’t need to do them in any particular order after the first square. The goal is to complete 25 of the squares.

Are you in, comment GRATITUDE.

will layout his plan for today at 2:15pm EST.

The photo shares the basics of his plan. If you have student loan debt, we encourage you to listen to his address.

How does hearing student loan forgiveness is happening make you feel?

How Uncle Sam can get more of what you leave behind?

Sadly it’s when you do not have the proper things (ex: will or an estate plan) in place to minimize tax liability aka tax avoidance or tax planning.

Chadwick Boseman the Black Panther did not have a will upon his passing in 2020. 2 years after his death, his estate has been settled.

Let’s learn from this and put processes in place to safeguard what’s behind for our families.

pointed out 3 important takeaways lessons from this situation:

1. Fella's - At latest we should begin screening for colorectal cancer soon after hitting the age of 45, followed by regular intervals of screening thereafter.

2. All - Get a Trust in place if you plan on leaving things of value behind ranging from but not limited to: property, cash, investment accounts, life insurance payouts etc. $900k from his $3.8M estate went to probate costs and could have been saved if a Trust was in place

3. All - Get you a real partner that you have alignment on all things with....including finances. From what I understand his widow split the remaining $2.3M estate with his parents evenly with no nonsense (at least none publicly). Many will say "as a spouse she should have received it all" and in return I'll say focus on getting your -$36k net worth into the black and stay out their business.

Hope this helps someone! 🐈‍⬛ 👑

Congratulations on being Debt Free ! 🥳

Keep reading to see how it was accomplished.

He shares…IT. IS. FINISHED.

No more working 64-72 hour work weeks.

Completing my final shift and we will have enough to retire our student loan debt. Planning to make my final student loan payment in the next couple of weeks. Unless, Biden beats us to it. About 22 months ago, my wife and I made a bold and challenging decision. We desired to become totally debt-free.

In September 2020, we had our first finance meeting, one month into our marriage, and calculated our total amount of debt. To our surprise, we were $143,676.43 in debt. All student loans. Shorty after overcoming the initial shock, we established a detailed plan. With our income, at this time, we hoped to retire our debt by 2024.

In order to do so, we lessened our expenses, increased our income with various side jobs (Babysitting, Lyft, Candy Store; etc.), used unexpected bonuses, and delayed wants.

However, January 2021, in the midst of a present pandemic, God blessed our finances. Because of this, we saw an opportunity to retire our debt by 2022 instead of 2024.

We sacrificed, worked tirelessly, and prayed endlessly. Now, we’ve changed our lives forever and for the better. Got out of the negative and now in the positive. So thank for our village who have been rooting us on since the beginning. All thanks be unto God for making a way out of no way. To the best financial gurus I know, Mom and Dad, who are true examples of financial freedom and taught me well from a young age.

Ready for my wife and I to enter a new chapter of life. In this new chapter, we hope to find approaches to help others who desire to retire their debt. Also, looking forward to have a normal work schedule, establishing generational wealth, traveling often, more time and memories with wifey, family, and friends, and increased generosity.

📍You are here 📍

Fam, you’re part of our community aka family. Esha and I are so thankful for each of you.

We take your interest in finances seriously and are encouraged by each like, share, save, and comment. ⁣

Each of you have power to inspire no matter what your financial situation. Our net worth or money mistakes do not define us.

You all have shared so many encouraging words with me these last few weeks and for that I’m grateful.

So share how we’ve connected in the comments. ⬇️
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“Today on Juneteenth, the day we celebrate the end of slavery, the day we memorialize those who offered us hope for the future and the day when we renew our commitment to the struggle for freedom.” —Angela Davis

I am my ancestors wildest dreams so I will push for change in the spaces I reside.

As we honor the day of freedom make sure you support a . Amplifying their message helps transform communities.



🎨:

Happy Father's to all dads!

As women we may moan and groan about the things you do but we appreciate your efforts.

If your an Uncle, brother, or other male figure stepping in for a father who is not in the picture or passed on, keep on keeping on. Love on our children, our world needs more loving people.

Financial literacy month may have come and gone but these are numbers we NEED to know family.

We don’t have to wait until next year to start calculating them either.

Fam, life been life-ing and whooping our behinds!

So, this month we will go back and recalculate these eight important finance numbers because to they matter.

Plus knowing these gives us info on where we need to improve.

Yesterday we said . So today we will help you filter through the many numbers and terms you hear when learning about personal finances.

says, “These numbers can serve as a basic foundation for understanding your financial health.

If you know these numbers, you can track your financial progress, see if you're on track to become financially free, and calculate other numbers (like debt to income ratio or emergency fund goals).

Of course, there are other ways to measure your financial health. I’ve found that these numbers paint a pretty holistic picture of my financial situation. If they are trending up (expenses remaining stable + debt and interest rates are trending down), I know I’m on my way to financial success.”

Infographic by

Family yup we’ve been MIA…what was meant to be a 2 week hiatus turned into 90 days. So much life happened…but we’re not getting into all this today. 🙃

Know that we’re back. 🙌🏾

This break has taught me to KISS 💋 - you know keep it super simple

Why simple?

Adding more to our lives complicates them.

Complications take alot of time and energy that can't be invested in the things that lead to the people and things that bring you the most joy and satisfaction.

If it seems too complex..💋!

Wondering how you can keep it simple, try these:

💇🏾‍♀️ Book an appointment!

🛒 Set up a delivery service!

🗂 Hire someone!

🛟 Ask for help!

👉🏾 Delegate!

Using the above will allow you to have☝🏾less thing you need to do and you can relax.

The less your life is bulging at the seams with complexity, the more space you have to show up for what truly matters in life, relationships, professionally, and with your money!

Remember to KISS 💋 your life.

Goddesses today we will celebrate motherhood. Not only physical mothers but women who have cared, supported, encouraged, guided, mentored, watched, prayed and so much more for people in their lives.

We are the birthers of life and ideas. Our actions and words become fruit. So may our good fruits continue to blossom into the earth.

I know this day comes as a burden for some and for others it carries much grief. If this is you, you are in my deepest thoughts as I ask God to show his closeness to you.

I share a Christmas photo of our family (one of our fav times of year). In this picture is the man who helped me become a mama and the 3 boys who call me mom. 🥰

Several months back I shared that we were teaching our son how to write to teachers for recommendations.

Well, it was not in his path to go to the magnets he applied for.

Our family was truly saddened when he didn’t get into both the magnet schools he applied. But instead of just sulking he applied to the STEM, EPIC, and AVID program at our local high school.

My first heart beat outside of my body - the first to make me a mama. This young man is forging his own path in the world - smiling all the way.

Annnnnnnnnnddddddd…Babbbbbayy (in my New Orleans voice) He was accepted into ALL 3 programs! So this boy is heading to high school with his head held high.

We are so proud of this young man!

Our home looks like a tornado hit it literally. Things are thrown everywhere as we purge in preparation for our move. 10 years worth of life within these walls.

Esha and I packing and sorting on breaks/lunch hour/between baseball practices and games. We’ve trashed some, donated items, and sold stuff but there will be LOTS more.

So if I look frazzled…I am! 😂 I HATE moving but we’ve prayed for a home and God provided so purge/pack is what I will do.

Photo of the first round of books that made it to the library. If you know my spouse you know he has about 2 bookshelves worth of books these ARE NOT all coming inside the house 😆.

We also donated to our local ReStore which takes most furniture item to raise funds for Habitat for Humanity (they take donations only on Thursday & Saturday from 11am to 3pm).

Credit doesn’t have to be a mystery.

If you’re confused on what credit is, what makes up your score, why it’s important, and where it’s reported.

Swipe over to see the breakdown provided by

When you learn the components and how they play into your score you can make changes if you’re not happy with your number.

And don’t forget to check your annual credit report for FREE at www.annual creditreport.com (this is the official site mandated by the government).

Make sure to share this info and let us know in the comments if you’ve pulled your credit report lately.

There are so many places we could start but we’ll start with gratitude for the collective and individual prayers for our family during the house buying process. We’ve experienced high stress and multitude of denials of our offers.

But all of those things lead us to where we are now…closed on a property in a place we’ve called home for over a decade.

It was truly nothing but the crafting of God because when I tell you the DEVIL was BUSY trying to make it seem as if it wasn’t going to happen for us.

God said, The Addy’s have a home!

(We aren’t moving just yet…that won’t come until the end of the school year after some renovations but WE’RE HOMEOWNERS!)

Special thx to our amazing team of professionals:
Realtor
Closing attorney (Michelle & Jack)

The above people will work their tails off to make your dream of homeownership a reality.

Now is the perfect time to pursue another income source. Whether you want to become an entrepreneur or not, having another income stream is always a good idea.⠀
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Maybe you need extra money to pay down debt. ( We’re there right now) Or, you want to start investing more money. Whatever your goals are, having more money can help you get there faster.⠀
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What are you doing to create a second income stream?

As a black man and wife we discuss this profusely. It’s time to take the conversation from between ours into the community at large.

The Plutus™ Awards] For African Americans, personal finance is about more than money.

Kevin L. Matthews shares why.

Here is a excerpt: In 2015, author Ta-Nahisi Coats wrote, “As slaves, we were this country’s first windfall, the down payment on its freedom.” Our bodies served as the currency on which this nation built its wealth. Today, more than 400 years after the first enslaved Africans reached the shore, we’re still striving to recapture the returns that have been systematically denied to us.

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Link in The Plutus™ Awards] BIO

Investing can be done with WHATEVER money you have to START with!

wants to see YOU building wealth.

captioned a thread you need to share with those you love and save to revisit often.

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Do you invest with fractional shares?

Investing is a lot of knowledge and consistent contributions!

Being able to invest by doing fractional shares is still relatively new! Why not take advantage of it?

You can essentially mirror a million dollar portfolio with the money you do have by investing in what they invest in!

I said essentially ( so that means not exactly but maybe close🤣)

This is great for those who may not have a lot of money to invest with but want to get their foot in the game!

was speaking directly to me when she captioned this…

It's easy to feel like....⁠⁠
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👉You're not doing enough⁠⁠
👉Your journey isn't as special as others⁠⁠
👉You're not doing something right⁠⁠
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But truth is...⁠⁠
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👟You're running your own marathon. No competitors.⁠⁠
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I went from barely being able to apply an extra $10 to debt and savings to:⁠⁠
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💸Applying hundreds to debt per month until I got them knocked out⁠⁠
💸Saving my first 5 figures in less than 1 year without needing the money right back!⁠⁠
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Around here I like to keep things simple.⁠⁠
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Stay in your lane. Exercise patience. Learn from the trials and errors. And apply pressure🔥.⁠⁠
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Giving your money an assignment for where to go to work is important to building wealth.

shares a, Budget, Money plan, Money map, whatever you call it you need one!

There are many different types of budgets

1️⃣ Zero Based
2️⃣ Pay yourself first
3️⃣ Envelope System
4️⃣ 50/30/20

Try one or try them all, see what works for you.

A budget consists of
🔹Income
🔹Fixed Expenses
🔹Periodic Expenses
🔹Variable Expenses
🔹 Unplanned expenses/Savings

Doing my 1st budget opened my eyes and showed me where I was overspending. I had to make realistic goals and cut out things I could live without, little by little in order to meet my financial goals.

I also had to learn to save money for an Emergency, something I hadn’t done since I was a kid because I was in so much debt.

Some months were good but other months were bad. If I overspent in any category that just meant less money going to debt. Readjust as needed and try again next month!

Budgeting gives you piece of mind, no longer stressing about not having enough. It’s your money and you are the only one that can make the change for better.

🔹Pick a method
🔹Review income
🔹Analyze Expenses
🔹Determine what to eliminate
🔹Save/Invest
🔹Track your progress
🔹Weekly check-ins
🔁 Repeat

Have you done this months budget?? It’s not too late to start today!

Y’all read for this line up…..HOT OFF THE PRESS!

We are so grateful to have these wealth builders talk with us during our Black History Now: The O.P.E.N. Edition. (SWIPE to see the dates these men and women will be speaking with us)

Don’t forget to connect with them, there handles are below:


Nadia’s purpose is to cut the wealth gap for the Culture which she accomplishes this through a fusion of brand and financial strategy.

David Edey
David is someone who knows the financial space inside and out from personal experience and 35 years of experience. He helps people understand the estate planning process so they aren't left disorganized and in chaos.


Jay is a true advocate of financial freedom. During the pandemic she focused on self-growth. Her company was created to teach personal finance skills and provide wealth-building advice.


Danielle launched her affordable luxury travel and personal finance blog/podcast to empower financially savvy travelers make more informed financial decisions – travel more, pay off debt, and build wealth.


Tashieka teaches women how to build a solid financial foundation to increase their wealth. She has paid off over $90K of debt and built a near six figure portfolio in less than 4 years — she is married and is a mama of 4.


Phil saw the disconnect between young professionals and saving for the future. He knew this occurred because people were not able to visualize their financial future given their current circumstance (i.e. credit card debt, student loans, living their best life and FOMO). As a result, Dancy With Money was created to help others on their journey to financial freedom while showing them the various ways to reach that.

Let me explain.

Here in the United States we create holidays to honor people who we still suppress and oppress.

Case and point, Martin Luther King Jr. Day, yet we see states actively trying to revoke or minimize voters rights.

We spend the whole month of February honoring African Americans when my race is STILL a second class citizen in this here United States.

More of our people are locked up in modern day slavery aka jail if your not familiar than we make up in the population.

Our wealth accumulation continues at snail speed, making the wealth gap seem like an unsolvable issue.

The mental weight of being Black in America.

Read the quote again.

What would happen if you stayed the course of becoming debt free?

We’ve laid out some of the privileges that come with being wealthy. (Swipe to see them laid out or keep reading.)

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Connections: Wealthy people utilize their network. They understand connections can place them and their children into places where the less affluent aren’t likely to have access.

Purchasing in Bulk: Having disposable income means you can buy items when prices are good and not only in moments of immediate need. Plus you save on gas and time since you aren’t making multiple trips to the store.

Put their Money to Work: Those with money diversify their cash across multiple investment vehicles and make money while doing almost nothing.

Leveraging the Tax Code: Capital gains income (income earned from the sale of an asset like real estate or stocks) is taxed at a lower rate than your regular income tax. Unless you’re talking about short-term capital gains, these are more aligned with regular income tax brackets. Wealthy people know this or hire people who know this. They make sure to hold investments long enough to get that lower tax rate.

💥 FOLLOW ⁠ for more money tips, strategies & real-life scenarios⁣.

💚 LIKE this post⁠⁣

➡️ SHARE and SAVE this post⁠⁣

📝 COMMENT – We want to hear from YOU!!!⁠⁣

Going to just sit this right here, “Your financial conditioning may not be your fault but the money reprogramming is your responsibility.”

We all have financial influences that have led us to where we are in life. Some of the most common:

(Family) Before we even know the value of money our parents and loved ones show us how to handle it. Most Americans list their parents as their number 1 influencer of how they manage their own money.

(Ads) Consumerism here in America starts very young. The goal of marketers is to get kids hooked on name brands asap. Countries in Europe and the UK get it, they forbid all advertising directed at children younger than 12 years old.

(FOMO) Relationships can sometimes drive us to spend from a place of fear of missing out, people pleasing, etc. We must remember to put our own financial priorities and well being first.

No matter how you arrived at your financial situation we need to lean into our underlining programming to move forward financially.

Let’s make these money moves (in my Cardi B voice).

Family our community has reached 800!

🎉 Yaassssssss! 🎉

Esha and I are so appreciative of all you wealth builders! 

Thank you so much for the support and following along our journey. We created this account in 2020 and really have been committed to growing our financial knowledge alongside you. The actions we are taking have allowed us to payoff over $20K in credit card debt. Giving us a realistic timeline to be free of credit card debt by April 2022.

800 may not seem like a lot but ask anyone in the financial space it’s a blessing that we don’t take for granted.

Our next milestone is 1,000!