@Delano , exactly! and the use of ignorance here is not derogatory! At least I'm not offended because money, banking and finance are not easy topics. Yes, home economics is and was a powerful tool. I benefited from it growing up - and I actually can feed my family on a budget, make their clothes, repair furniture and balance a check book to name a few things that fall under the umbrella - BUT what I could have benefit from early on is learning how to feel comfortable asking for payment when I share my IP with others. Understanding value and worth and compensation didn't come naturally for me.
Coupled that with a system set up where a person of color or a woman are usually under-compensated, chances are it's going to be difficult accumulating and keeping wealth. If you are black woman, employers feeling justified to pay you 66 cents on the dollar they would pay a white man in the same position. And that's if you're hired in the first place. We see the same disparity in funding technology businesses founded by black women compared to black or white males.
Just today, I read the U.S. Senate is going to vote (or may have already voted) to roll back consumer protections that insure that auto dealers don't charge minorities higher interests rates on their auto loans. Here in Georgia they just past a law where taxes are higher on used cars, than new. So put those two together and you penalized for not buying a brand new car and if you have to borrow then you'll pay a black tax too!
I probably could go on - but I'll end with this - we know that most of our wealth is in real estate and personal home ownership. Yet, here's the catch, most minorities are regulated to areas where properties are undervalued because their owners are minorities.
My home that bordered Clinton Hill, Bed-Stuy Brooklyn sold for about $350 K in 1992 - My family's brownstone was in peak condition and even had a drive-in garage. Most of our neighbors were Black. Today, after gentrification and white flight back to takeover of Brooklyn, the house is in worse condition and the garage is gone... but the property is selling for $2 million. Even if minorities move to areas where the properties have a high value - those values go down if the balance of white-to-black ratio shifts... BUT If the real goal is wealth-building then we're going to need to invest that money into keeping education PUBLIC! This way all the schools don't become private forcing minorities to take out even more high-interest loans even sooner than college just to educate their children.
If we really want to get serious about wealth-building then return state colleges to low-cost and free again. Then most young people will start employment accumulating assets on the job instead being $100-200k in debt before they get their first paycheck.