How communities of color face emotional, systemic barriers to wealth - Business Insider

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'You feel like you're alone in it until you hear other people talk about it,' brunchandbudget said about creating community among her financial-planning clients

It's a situation Capalad knows intimately. She emigrated from the Philippines to America with her parents at the age of two. Capalad's mother worked as a nurse for decades, but her father struggled to find jobs that paid more than minimum wage despite holding a college degree in engineering in the Philippines, she said. See Change

But as Capalad and Dyalekt acknowledge with See Change, people of color, particularly Black Americans, not only face"One thing that we found is that we have to really address a lot of the behavioral stuff that POC have kind of been carrying with them generationally," Capalad said. Something else that's very common among communities of color is sharing money and resources with family members, Capalad said. Rather than discourage people from doing this, as is often the case in financial advising that focuses solely on the individual, See Change coaches work to incorporate those relationships into clients' financial plans.The engine of success in the See Change program is community.

 

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