Building a lasting financial legacy is a goal that transcends gender, ethnicity, and identity. However, it's essential to recognise the unique challenges faced by Black LGBTQ+ womxn and non-binary people in the UK. Creating a lasting financial legacy is a powerful step towards securing your future and positively impacting generations to come. In this blog post, we'll delve into the dos and don'ts to help you make practical and impactful financial decisions tailored to your specific circumstances. Let's get started!
Success and financial freedom are often associated with traditional paths and predefined norms in today's society. However, some remarkable individuals challenge these notions and pave their way, breaking barriers and redefining what it means to be successful. Through their outstanding accomplishments and groundbreaking contributions, they have made a difference and become trailblazers who redefine success and financial freedom on their terms. This blog post aims to shed light on five inspirational stories:
Every two years, we release an impact report that details the work and programmes of Do it Now Now across all of its initiatives, including My Moon Landing.
We are proud to release our 2021 - 2022 Impact Report, which details our work and programmes as well as a collection of thoughtful articles on the meaning and methods of why and how we serve our community.
The Black impact sector needs support in order to find true equity. Last month, we released our cost of living report, A Desert without Resources, a sobering look into the current financial crisis that the sector is undergoing. Do it Now Now, despite our successes and relative position, is by no means immune, and the ways in which we can continue to provide positive impact will evolve with the current landscape.
As a Black woman, Black LGBTQ+ person, or Black non-binary individual in the UK, building your leadership skills and securing a strong financial future can seem daunting. However, there are many resources available to help you achieve your goals. Here are some of the top financial and leadership resources for Black individuals in the UK:
The complex relationship we have with money and the stress of being financially strained can lead to a vicious cycle that can make us feel completely out of control. This is a universal experience, felt strongest by Black LGBTQ+ womxn and non-binary people who begin their financial journies on the back foot due to layered disparities in pay gaps and historical mistreatment by financial institutions.
Just as money impacts our behaviour, our mental health can impact how we handle our finances, creating the vicious cycle we mentioned earlier. While the cause may look different for all of us, some mental health conditions cause a spike in impulsive behaviour and can influence how we spend our money and our ability to plan for financial obligations rationally, it can also create spending shame cycles that seem impossible to break out of.
Financial wellbeing affects everyone, as shown in the Cost of Living Crisis: Financial Stress and Employee Wellbeing report, in which 37% of employees stated that financial pressure is the top cause of stress outside of work. The same report shows that Womxn-identifying employees are 33% more likely to experience stress than their male-identifying colleagues. Research conducted by Money and Mental Health Policy Institute shows that of the 5,500 people surveyed across the UK, 86% stated that their financial situation has worsened their mental health and that those experiencing mental health problems were three and half times more likely to be in debt than those without.