Voices of the Future: A Healing Ethno-Racial Trauma Approach to Financial Education within African American Communities

Author:

Brinston Tonia1,Bryant Chalandra M.2,Powell Sharon E3,Serido Joyce4ORCID

Affiliation:

1. University of Minnesota Extension

2. University of Minnesota Twin Cities

3. University of Minnesota

4. University of Minnesota-Twin Cities

Abstract

In this article, we describe the process we adopted in designing a financial education intervention situated within the cultural and systemic realities of structural racism in Black communities and offer new insights on conducting financial education that addresses healing from ethno-racial trauma. We adopted a community-based participatory research (CBPR) approach and assembled a Community Led Advisory (CLA) group to discuss how to address social and economic inequalities in teaching financial education. Specifically, we sought to address the psychological consequences of racism, income scarcity, and other forms of economic distress and what it means for people’s lives and their everyday ability to make sound financial decisions. By directly addressing how systemic barriers have hindered the ability to build wealth, we allow individuals to relinquish self-blame/shame about their financial circumstances. Relinquishment of self-blame/shame (which is energy-consuming) facilitates a shift in energy that enables individuals to focus on learning how to make better financial decisions. In addition to the results of the pilot, we include a discussion of the lessons we learned, our suggestions, and next steps for applying the approach for wider use.

Publisher

Mississippi State University Libraries - DIGITAL COMMONS JOURNALS

Reference36 articles.

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2. Bhutta, N., Chang, A. C., Dettling, L. J., & Hsu, J. W. (2020, September 28). Disparities in wealth by race and ethnicity in the 2019 survey of consumer finances. FEDS Notes. Board of Governors of the Federal Reserve System. The Fed - Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances (federalreserve.gov)

3. Blanche, A. (2012). SAMHSA's National Center for Trauma-Informed Care: Changing communities, changing lives. Center for Mental Health Services. https://www.nasmhpd.org/sites/default/files/NCTIC_Marketing_Brochure_FINAL(2).pdf

4. Brave Heart, M. Y. H., & DeBruyn, L. M. (1998). The American Indian holocaust: Healing historical unresolved grief. American Indian and Alaska Native Mental Health Research, 8(2), 60-82. THE AMERICAN INDIAN HOLOCAUST: HEALING HISTORICAL UNRESOLVED GRIEF (iohs.education)

5. Broady, K., McComas, M., & Ouazad, A. (2021). An analysis of financial institutions in Black-majority communities: Black borrowers and depositors face considerable challenges in accessing banking services. Brookings Institution. https://policycommons.net/artifacts/4142512/an-analysis-of-financial-institutions-in-black-majority-communities/4950337/

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