Economic disparity disproportionately affects minorities in urban communities, as there is a lack of resources to effectively manage personal finance and to achieve social mobility.
Poverty exists for many reasons, and while some are blame the poor for their own blight, or assume that social programs keep people in poverty, because they need to “pull themselves up by their bootstraps”; those are all misconceptions that are apathetic and ultimately contribute to the greater problem. There are also those who grew up less-fortunate, and think just because they made it, that anyone can. Again, this is a common misconception as they forget their unique circumstances, because of their social circles, or opportunities awarded along the way.
“Poverty is a state of mind.”[i] – Ben Carson, US Secretary of Housing and Urban Development
For sources and more information, or to read the report, please contact me directly.
Resources
[i] https://www.npr.org/2017/05/25/530068988/ben-carson-says-poverty-is-a-state-of-mind
RECOMMENDATIONS
01 : Re-define economic development and affordable
02 : Financial education
03 : New Financial Model
04 : Equity to Equality