Financial literacy, meaning one’s grasp of best practices in employing financial skills and tools to maintain healthy and stable personal finances, still elicits a feeling that financial savviness for some is inherently foreign.
There is a generations-old lending circle practice across the Black Diaspora that many have known about from a young age. We hear about it from mothers and aunties, and we may witness the savings practice when the groups come together at our houses. Eventually, many join circles outside their families or create their own lending circles.
Through witnessing and participating in these long-standing lending circle traditions, perhaps you know more than you think about the ingrained sense of responsibility and discipline with money.