Black History Month: Finance Edition with Mohammed Faisal
Black History Month is a celebration for African-Americans who have paved or are paving the way for future generations. We collaborated with several finance influencers who are making a difference throughout their community and beyond. We asked those same influencers to share their thoughts about generational wealth, legacy building, the Black dollar, and more.
Mohammed Faisal, CEO of Money Hub NYC, a 501c3 startup that teaches financial literacy to youth in disadvantaged neighborhoods throughout New York City. Faisal is an immigrant from Bangladesh, who migrated to New York City with his family at the age of four. As Faisal grew up, he saw an issue throughout his community and peer group: the lack of financial knowledge. His solution to helping others who weren’t financially literate was creating his company, Money Hub NYC. Faisal’s unique yet relatable story allows him to connect and teach several people from diverse backgrounds.
Check out Mohammed Faisal’s answers to our Black History Month finance questions below.
Q1: What is the significance of the Black dollar to you?
The Black dollar is very significant to me, and it should be to the entire country.
Q2: What does a financial legacy look like for you?
Financial legacy is being able to pass on assets to your kids and grandkids.
Q3: How are you working toward building generational wealth for your family?
I am working on gaining generational wealth by building savings and acquiring assets.
Q4: Is there a historical story or fact that made you look at wealth-building differently?
The historical real estate boom in New York City and the effects of gentrification.
Q5: Share lyrics that speak to your financial philosophy.
“I can’t help the poor if I’m one of them, so I got rich and gave back to me that’s a win/win.” - “Moment of Clarity” by Jay-Z
Q6: What is the biggest financial lesson that you have learned?
Always have some money aside for a rainy day. Also, financial woes can be lessened and remedied through education.