When I began my journey to financial freedom, it was critical that I changed my mindset and my relationship with money. Because of this new mindset I found that this article hits me pretty close.
In the article Broken Dreams And Financial Illusions: The Secret Depression Of Black Men | HuffPost, the author Marcus Bright, talks about the secret depression of black men dealing specifically when it comes to the financial struggle. He describes the mechanisms that black men use to cope with this depression. Here is a quick summary of the article.
There is a secret depression that is rooted in economics that many Black men battle. It is hidden underneath an assortment of layers including an exaggerated bravado, drug and alcohol abuse, misdirected anger, and other forms of destructive behavior. The “Bow Wow Challenge” that took over social media earlier in the month was a reflection of a daily pattern of illusions for many.
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The data suggest that the majority of African Americans are not in a great place financially. A prime example of this is a finding from the “The Color of Wealth in Boston” report that found that the median net worth of White households in Boston is $247,500 while the median net worth of Black households is $8.
The psychological impact on men who haven’t been able to overcome the reality of the labor market is a story that is seldom told. Many are suffering from broken dreams and delusions of grandeur that have not been fulfilled. An argument can be made that many Black men have been suffering from a secret depression for years as a result of this financial crunch. A great deal of it probably has its roots in an economic struggle.
There is a mask of false bravado that many men wear. Underneath the mask, they are hurting because they haven’t figured out a way to live up to an ever illusive standard set by a hyper-materialistic American society. The standard is not one set amount of financial accumulation, but an ever changing goal line that seems to always be just out of reach.
So if you have a few minutes, go and give it a read. I’m sure you’ll find it as enlightening as I have.
After you finish come back and give your opinion on it. I’m interested to hear what you have to say.