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 "I'm so glad that I was already financially independent when I came out to my parents. It worked out, but it was touch and go for a moment in between" - Bayo Adelaja, CEO, Do it Now Now. This declaration of self is not the only occurrence in a Black queer womxn's life that warrants an objective look at one's finances to determine options and opportunities.
Despite being 3% more likely to report abuse to the police, Black womxn are 14% less likely to be effectively supported out of the abusive situation, according to Refuge. Statistics like these make it increasingly crucial for Black queer womxn to achieve financial independence so that it is possible to make a way out of a bad situation when necessary. The problem is so well acknowledged within our community that it is a commonplace for Black womxn to "kiki" about "FU money" and the different revenue streams that can help to "secure the bag". We often find ourselves swapping stories and tips readily in hopes of contributing to the Financial Freedom of a close friend or family member. Note the word "freedom" there. While finance isn't the only factor, according to the World Bank and Dana Harrington Conner's 2014 paper in the William and Mary Journal of Race, Gender and Social Justice, access to finance, coupled with the other keys in place, will lead to longer-term success and more robust sustainability in the future. |