Can black women make themselves save 10% of what they earn?

Today, I got paid from a commission from one of my clients which saw me get some money and pay 10% of the fee into my savings account. I was happy to be able to put 10% away, even though it was not a huge amount.

This made me think today as how being a black woman affects my ability to save. The barriers to entry of banking in terms of political occurrences, former colonial platforms in terms of accessing cash and investments at least in Tanzania has meant that I do think it has been harder for me to learn about savings and money because actually I also was not as interested in the past, as I am now.

I keep thinking about my Million Challenge vision and how I want to save to move out and of course sort my overdraft. Is 10% too unrealistic for you at the moment or is it perfect for what your lifestyle? Let me know in the comments.


2 thoughts on “Can black women make themselves save 10% of what they earn?

  1. 10% is a good place to start. It’s kind of like really rounded. Still one could save lower or higher depending on one’s financial goals and necessary expenses. I believe the most important thing is to develop or should I say “build” the habit. Once it becomes habitual, increasing the proportion of income which one saves would be less of a challenge.

    • It is definitely about making it a habit, but when we are faced with consumerism all the time, it can be really difficult to kick the habit.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s