Black History Month: Finance Edition with Claressa Lesley
- Financial educator Claressa Lesley, MBA, is the founder and CEO of Financial 411 Academy LLC.
- Check out Claressa Lesley's answers to our Black History Month finance questions below.
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.
Financial educator Claressa Lesley, MBA, is the founder and CEO of Financial 411 Academy LLC, a company that promotes interactive financial literacy education among youth and young adults. Financial 411 Academy educates the youth on finances so that they can avoid future money mistakes and create generational wealth.
Check out Claressa Lesley'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 the most powerful tool, not only for Black people, but also for the world economy as the black dollar is spent the most, and the buying power is approximately $1 trillion. Seamlessly, the black dollar influences society's culture and how Americans spend their money after that.
Q2: What does a financial legacy look like for you?
Financial legacy building is being so financially secure that you are not worried about a paycheck for any circumstance and can leave a foundation for generations to come. Whether through life insurance, having a will, a family business, or a college fund.
Q3: Is there a historical story or fact that made you look at wealth-building differently?
The Black WallStreet Massacres
Q4: How are you working toward building generational wealth for your family?
I work towards building generational wealth for my family in several ways, with the main strategy being staying abreast of financial news and learning about different strategies for building wealth. From there, I continue to use the knowledge that I read and know to teach those around me & have a conversation. Now, strategically, I have built up my credit score, on the road to investing in my first property, contributing to an IRA account, investing in the stock market and foreign exchange, in addition to having my own business.
Q5: Share lyrics that speak to your financial philosophy.
"Diversify your millions, you can live off the interest, make every revenue stream flood, see where it took me" - Xzibit, "Everything"
Q6: What is the biggest financial lesson that you have learned?
1. Pay Yourself First
2. Don't give away money that you can't afford to get back!
To learn more about Claressa Lesley, visit her website or follow her on Instagram and Facebook.