The financial disparity between the black community and the rest of America is well documented. While we continue to grapple with the systemic causes of this disparity, part of the solution lies within the education and the direct behaviors of the community and its citizens.

The last 5 years, and especially the last 12 months, have clearly shown us that much of America has no desire to address either the financial or social issues that racism has played in getting us to this point. Only a small sliver outside the “community” are interested in helping fix the problem. Inasmuch, we must take steps to close the gap through micro-actions. This starts with education. Not the traditional kind. The real-world kind that will help citizens of all ages understand how their actions will not only help themselves, but the community at large.

Financial literacy covers a wide array of topics. This includes basic banking, monetary budgeting, investing, credit cards, taxes, bank lending and more. It also includes understanding how the system works. Both financial and political systems. As the financial policies politicians create have a direct effect on our personal finances, it’s important to be informed.

For individuals involved in the music business, especially creatives, they need to understand how the revenue streams flow so they can maximize their earning potential and actually get paid properly.