Wednesday, March 10, 2010

Black women on average have the lowest wealth in the nation

I just read this shocking article form the Pittsburgh Post-Gazette about the fact that the median wealth (ie how much money they have saved or investmented - things like credit card bills, mortgages, student loans and auto loans) of African-American women is really low.

And by low the average is about $5 for Black women ages 36 to 49.

Five dollars.

Why is that you may ask. Well the article brought up something I talk about a bit on this blog, that Black women where targeted in the subprime loan mess.

Another interesting thing they brought up is the fact that Black women actually give a lot of money away by doing things like helping family and giving to their church.