Financial Freedom Lessons from Black History

#054 Imagine this: What if the next generation of Black children understood the secrets to building real generational wealth? What if they grew up inspired by the powerful history of Black entrepreneurs like Madam C.J. Walker and thriving communities like Tulsa’s Black Wall Street? What if they truly believed they could be next?

In this Black History Month episode of Raising Financial Freedom, host Eric Yard dives into the untold stories of wealth-building in Black history, celebrating the resilience, brilliance, and entrepreneurial spirit of trailblazers who paved the way. This episode is more than inspiration—it’s a guide for parents to break cycles, rewrite narratives, and begin planting the seeds of generational wealth.

Together, let’s honor the legacy of those who came before us by empowering the next generation to dream big and build a stronger financial future for their families and communities.

What You’ll Learn in This Episode:

• The Story of Madam C.J. Walker: From washerwoman to the first African American self-made millionaire, Walker's journey teaches us about resilience, entrepreneurship, and giving back to the community.
• Black Wall Street: Discover the incredible tale of the Greenwood District, a thriving hub of Black excellence, and uncover the lessons it holds about collective financial strength and community support.
• Parenting Tips for Financial Literacy: Actionable ideas to teach kids, from saving in jars to introducing investing in familiar brands like Disney or Nike. Financial empowerment starts at home, one lesson at a time.
• The Importance of Supporting Black-Owned Businesses: Learn how to make an impact with every dollar your family spends and teach your kids the value of investing in their community.
• What can a washerwoman from the 1900s teach your kids about building wealth and legacy?
• How did a small Black community in Oklahoma become a model of financial excellence—and what does it mean for your family’s future?
• What does planting a seed have to do with teaching your kids about investing?

Takeaways for Parents:

• Start small: Use simple conversations and activities to introduce the concept of money to toddlers and young kids.
• Teach investment early: Just like planting a seed, investing is about patience and growth—show your kids how to watch their money grow.
• Create a family mission: Make supporting Black-owned businesses part of your family’s routine and explain the bigger impact it has on the community.

Why It Matters:

This episode isn’t just about teaching kids to save or budget. It’s about empowering families to build financial legacies that last for generations. By combining the lessons of Black history with practical tips, Eric Yard is helping parents raise financially fearless kids who understand that money isn’t just a tool for personal gain—it’s a vehicle for creating freedom and equity for entire communities.

Don’t Miss This Moment:

Stay tuned for the captivating stories of Madam C.J. Walker and Black Wall Street—two powerful examples of what Black excellence in wealth-building looks like. These tales will inspire you and your family to dream bigger and act boldly.

Join the Conversation:

Connect with Raising Financial Freedom:

• Website: RaisingFinancialFreedom.com
• Email: info@raisingfinancialfreedom.com
• Social Media: Links available on the website
• Stay Updated: Don’t miss future episodes! Like, subs

Transcript

** Eric Yard **:
Imagine this. What if the next generation of black children grew up knowing the secrets to wealth, not just money in the bank, but real generational wealth? What if they understood the powerful history of black entrepreneurs, communities like Black Wall Street and trailblazers like Madam C.J. Walker? What if they believed deep in their hearts that they could be next? Parents, that's the mission today. Breaking cycles, rewriting narratives, and planting the seeds of legacy. This is the Black History Month episode of Raising Financial Freedom. And I promise you, by the end of this episode, you'll feel inspired, equipped, and ready to change the financial future of your family and community. Let's build a legacy together.
** Introduce **:
Have you ever wondered why some people seem to have it all financially? Do well-off parents simply hand their children money? Or is there more to this wealth thing? Welcome to Raising Financial Freedom, the podcast. We are here to talk about everything you never knew to teach your children when it comes to starting their financial future. The principles behind wealth and methods that are out there to teach your child about personal financial freedom. There is no real trick to earning other than learning. We are here to discuss, teach, and grow with you. Raising Financial Freedom, the podcast. With your host and Concerned Parent, Eric Yard. Let us get right into today's show.
** Eric Yard **:
If this is your first time joining us, here's what this podcast is all about. It's about giving parents the tools they need to raise kids who are not just financially literate, but financially fearless. We're raising the next generation of innovators, builders, and leaders who understand that money is a tool to create freedom, not just for themselves, but for their future generations. We're raising the next generation of families and communities. Today, we're honoring the financial literacy of Black history. Why? Because economic empowerment has always been at the heart of the fight for equity and justice. During Black History Month, we often celebrate civil rights victories and cultural achievements. But there's another side to the story, a side of wealth building, business ownership, and financial resilience. Parents, this episode is not just about teaching your kids how to save or budget. It's about showing them that financial literacy is power. It's about building generational wealth that not only changes your family, but empowers entire communities. And the best part? This journey starts with you. Stick around because we're going to cover it all. Powerful stories from Black history that will inspire you, practical tips to pass on financial wisdom to your kids, and a whole lot of love and hope for what's possible when we work together. Let's dive in. Let's start with some absolutely incredible stories. Stories of Black excellence, resilience, and financial brilliance that'll leave you inspired. These are the kinds of stories I believe we should be sharing with our kids, not just during Black History Month, but all year long. Let's talk about a woman whose story I love and became a movie. It's not only a story I will share with my kids, when I'm asked for these stories to share with you. It's one that I will share with my kid, Madam C. J. Walker. She wasn't just the first African American self-made millionaire. She redefined what it meant to build wealth at a time when opportunities were stacked against her.
** Eric Yard **:
Born to former slaves, Madam C. J. Walker started out as a washerwoman, making one dollar and fifty cents a day to support her daughter. But, she refused to let her circumstances define her. Speaker 1 Through grit and determination, she created a line of hair care products specifically for Black women. Products that weren't just about beauty, but about dignity, confidence, and empowerment. She didn't just build wealth for herself. She hired thousands of women and empowered them to start their own businesses. She was more than an entrepreneur. She was a visionary. She once said, I am not satisfied in making money for myself. I endeavor to provide employment for hundreds of the women of my race. Now imagine this. What if you shared this story with your kids and asked, what kind of business could you create to help others? What kind of legacy could your children build? Next, let's talk about a community that demonstrated the true power of collective financial strength. Black Wall Street in Tulsa, Oklahoma. In the early 1900s, Green Wood District, known as Black Wall Street, was one of the wealthiest Black communities in America. Picture this. A thriving neighborhood with Black-owned banks, restaurants, schools, newspapers, and even an airport. Families built wealth, supported each other, and created opportunities despite the racism and segregation of the time. Unfortunately, we know the tragic end of this story. The 2021 Tulsa Race Massacre destroyed much of the community. But the lesson of Black Wall Street isn't about loss, it's about possibility. It shows what's possible when we combine financial literacy, entrepreneurship, and community support. So parents, here's the question. How can we recreate that spirit of Black Wall Street right here, right now, in our families and communities? How can we teach our kids to support Black-owned businesses, to dream big about what they can build, and to understand the power of working together? History is full of examples like these, stories that remind us where we've been and what we're capable of. But now, let's talk about how we can use these lessons to teach our kids about financial empowerment today. Start young. Parents. Financial leaders. Financial literacy is like any other skill. It's easier to learn when you start young. Here are a few ideas. For toddlers and younger kids, use jars to teach the concepts of saving, spending, and giving. For older kids, introduce the idea of earning through chores or small jobs, and teach them how to create a simple budget. Remember, it's not just about the math, it's about the conversations. Ask your kids, what's something you'd like to save for? Or, why do you think it's important to help others with our money? These small conversations build a foundation for bigger lessons. One of the most important lessons we can teach our kids is the power of investing. Imagine explaining it like this. When you plant a seed, it doesn't grow right away, but with time and care, it can grow into a tree, and that tree can bear fruit for years to come. That's what investing is. Investing does for your money. It makes it grow. Start small. There are apps out there like Greenlight or Stockpile that allow you to teach your kids about investing in a fun, hands-on way. And here's a tip. Teach them about investing in companies they recognize, like Disney or Nike. It makes the lesson exciting and relatable. Another powerful way to teach financial literacy is by showing your kids how to support Black-owned businesses. Make it a family mission. Pick a Black-owned restaurant to visit, shop at a Black-owned bookstore, or even invest in Black entrepreneurs through crowdfunding platforms. Explain to your kids why this matters. Every dollar we spend is like casting a vote for the world we want to see. By supporting Black businesses, we're helping to strengthen our community and create opportunities for the next generation. Parents, here's the most important takeaway from today's episode. If you have any questions, feel free to post them in the comments below. You have the power to change the future. By teaching your kids about financial literacy, you're not just helping them manage money. You're giving them the tools to dream bigger, to build stronger, and to leave a legacy that lasts for generations. Remember, Black history isn't just about the past. It's about the future we're creating. Let's honor the resilience, brilliance, and entrepreneurial spirit of those who came before us by paving the way for the future. I'll leave you with this, a world where every child grows up understanding the power of wealth with the importance of community and the possibility within themselves is not far-fetched. We can create that world, one lesson, one conversation, and one family at a time. Thank you for being part of this journey. Thank you for listening, for learning, and for taking action. Together, we're not just raising financially little money. We're raising a generation that knows how to build a legacy. Remember to start early so that your children thrive forever.
**Introducer**:
We really hope you enjoyed this episode of Raising Financial Freedom, the podcast. Stay connected with us directly through raisingfinancialfreedom.com. You can also join the discussion on social media, which you can also find links on our website. If you would like to speak with us, please send us an email through info at RaisingFinancialFreedom.com. And as always, thank you for pushing your mindset towards a better reality. This concludes the most thought-provoking portion of your day. Don't forget to please like and subscribe to stay fully up to date. Until next time, be kind to yourself and each other.