According to a recent analysis by the Economic Policy Institute, black women made an average of 66 cents for every dollar made by white men in 2017. That means black women have to work an extra eight months to make the same wages as their white male counterparts. And unfortunately, things wouldn’t be better if black women simply chose higher paying jobs or focused on getting higher education. Black women earn less than white men at every level of education—even in the exact same occupation. So what can we do about the damaging wage gap? By practicing the tips below, black women can give ourselves a better chance to build wealth, increasing our spending power and increasing our financial value.
1. Learn A New Skill (Something That Only You Can Do)
Acquiring new skills has a number of benefits like: increasing your ability to earn money, boosting your confidence, enriching your life and enhancing your creativity and inspiration. Learning new skills brings new opportunities, like becoming qualified to apply to a wider variety of jobs, including jobs in another country or language. Also, the more specialized your skill is, the better. A trilingual freelance cartoonist who specializes in creating political cartoons is going to appeal more to international magazines looking for a multicultural hire, than someone who is trilingual but lacks experience in creating cartoons, or someone who is just a monolingual cartoonist.