Black women are especially vulnerable, she explains, because our cultural experiences may leave us feeling powerless. Add up all of your assets and your debts so that you know where you stand. Develop a spending plan . Figure out how you're going to pay off debts, keep bills current and save, while living a balanced financial life. Love yourself enough to plan for tomorrow .
Saving is the only true route to wealth and security.
The first step, Bridgforth says, is to treat yourself like a creditor. Pay yourself a little money out of each paycheck. Immediately deposit gift and bonus checks in savings. And, set up a long-term savings vehicle like a retirement plan. Don't expect perfection .