Frank Crump

Can Improved Financial Literacy Close the Racial Wealth Gap?

Can Improved Financial Literacy Close the Racial Wealth Gap?

In the US, the median Black household has just 10% of the wealth of the median White household, a problem known as the racial wealth gap. A number of solutions have been proposed over the years, including financial literacy courses for Black teenagers and adults to help them learn the skills needed to build wealth. But would these classes alone be enough to close the gap? Let’s review some of the research.

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Posted by Frank Crump in Financial Literacy, 0 comments
The Legacy of Redlining Maps Based on Demographics

The Legacy of Redlining Maps Based on Demographics

In 1968, President Lyndon B. Johnson signed the Fair Housing Act into law. This act was intended to end the practice of redlining, a term that dates back to the 1930s. At that time, federal agencies denoted certain neighborhoods as “unfit” for investment by marking them on maps with red ink. Residents of these neighborhoods, who were predominantly racial or religious minorities, were unable to secure loans to buy houses or start small businesses.

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Medical Debt is Causing Bankruptcy in the U.S.A.

Medical Debt is Causing Bankruptcy in the U.S.A.

In 2013, medical debt affected almost 2 million people, making it the top cause of bankruptcy in the US. Even outside of bankruptcy situations, nearly 56 million adults will continue to battle medical debt. That is more than 20% of the population between the ages of 19 and 64. Even with health insurance, Americans cannot always avoid this common cause of serious debt.

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Posted by Frank Crump in Medical Debt, 0 comments
Getting Back on Your Feet After Debt Consolidation

Getting Back on Your Feet After Debt Consolidation

After you have been through a financial crisis and worked hard to repair the damage, the silver lining starts to glimmer again. Debt consolidation tools can help move your finances in a stronger direction. Debt consolidation not only can help lower your monthly payments to pay off your bills, but it can help bring your credit score back up, which improves your credit score and can help build confidence.

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Posted by Frank Crump in Debt Consolidation, 0 comments