Friday, July 4, 2008

Exploring Gender Cross-Culturally: Black and Asian Women More Likely to Be In Debt

So this week, actually this moment, I am taking control of my debt. I got more than I ever thought I would ever have. My first experience with money was a passbook savings account from my mother. It had $500 in it. I spent it all within months on candy and other miscellany at 15. My mother gave me money but no context for what to do with it. All I knew was spending, not generating more income with money. Boy if I had to do it all over again.

Here I am. I have made more money than probably anyone in my family as a professor and I am still that 15 year old spending and not investing and creating new income. I might as well have a nine-to-five the way I operate around money and my job. I behave like a slave to my work instead of making work and money work for me. I have some much clout and credibility and I resign myself to be a sort of wage laborer in my mentality. And being a woman on top of that doesn't help.

I found this great TV show produced on AlJazeeraEnglish TV called Everywoman. It features excellent journalism on women around the world and fits perfectly into my theme this week on cross-cultural perspectives. This show pointed to some revealing insights.

In this episode: Men owe twice as much money as women, but women are more likely to struggle with debt and more likely to use 'sub-prime' credit - credit which is easier to access, but costs more in interest rates.

Everywoman - Women and Debt - 28 Dec 07 - Pt 1

PS. I may be offline til Monday as I am heading to DC area, Rockville to be exact for a performance at the Caribou Cafe on Norbeck Rd July 5th at 6:30 - 9:30pm. All my peeps from my hometown are coming and I am so excited! More next week.

Caribou Cafe Jul 5th 6:30 - 9:30pm
5562 Norbeck Rd Rockville MD 20853
Photo credit: Gerald Peart 2007,

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