Black Buying Power Nears $1.2 Trillion

Blacks throughout America’s history have been disadvantaged in all aspects of life, yet in America today, African Americans are actually rising as the greatest influence in the nation’s economy. Alongside the present Black Lives Matter movement, it is fundamental to also acknowledge the increasing important matter of black money in America. Unbeknownst to most, black people are becoming richer, and their wealth is capable of influencing the country in a significant manner.

African Americans are growing in number and income, as reported by Atlanta Black Star. The news source shares, “It is projected that by 2060, the Black population will increase from 45.7 million to 74.5 million, with 17.9 percent of the U.S. population.” As the black population expands, their influence with money also continues to grow. According to studies from the University of Georgia’s Selig Center for Economic Growth, since 1990, black buying power has increased by 275 percent. This year, black buying power is expected to reach $1.2 trillion.

Where Is All the Wealth Going?

As they become wealthier, African Americans are spending more than their counterparts and grabbing a stronger share of the economy. If African Americans attain this substantial amount of buying power, then why are they often denoted as living in poverty? Although their economic influence is expanding, African Americans are handing their money to groups outside of their racial bracket. Overall, affluent African Americans spend money on both necessities and luxuries for businesses in white communities. The African American sector has a large income, but they are often not using it to intentionally cultivate the black community.

More black businesses, in order to thrive, are intentionally targeting the lifestyle of customers who are African American. These businesess know it is not enough to simply include a black person in an advertisement. African Americans realize that companies want a long-term relationship with their community.

Black Influence is Undeniable

Sharing a report from last year, The Atlantic described 2015 as the peak of African American influence in areas such as television, music, social media and on social issues, and black Americans are becoming more educated, rich, and technologically advanced. Blacks have been known as trendsetters, and as their economic power increases, African Americans will have to be included in more business targeting millennials, the report concludes.

For too long, African American influence has been widely undermined or rejected. However, as their influence gains more traction, America will need to recognize the power of black Americans for what they are worth.

Homeschooler in the Real World

Emma Folts, a sophomore at Wheaton College, shares her experience about her transition into college and how homeschool has both helped and hindered her.
How has your homeschool experience benefitted you, especially in your transition into college?
I think the one thing that homeschooling did that was really helpful as I entered college was that it taught me time management. As a homeschooler I had the same freedom as a college student has to put things off during the day and go see a friend instead. Since I had that experience, I knew the cost of that.
Also, personal responsibility and accountability with assignments. I feel like a lot of the other students had more expectations for gentler grading and that the professor would give them retakes or extensions, but that wasn’t something that ever happened to me in school. That learning curve wasn’t added because I never had it the other way. I think another thing was that because I was homeschooled, I was familiar with the format of teaching and then studying on my own.
Did you see any issues with your transition socially?
I think that homeschooling had two ramifications for me socially. One was helpful, one was hurtful.
It was really helpful because as a homeschooler, I had spent a lot of time realizing and developing who I was as a person and learning to recognize people who were being themselves, and those were the people I sought out as friends. Friendship as a homeschooler takes a lot more investment. I knew I was choosier with my friends which made me a lot less anxious and a lot more content.
The only real negative impact of the social bit was that I was really used to getting to choose the time I got to spend with people. As a homeschooler I spent a lot of time with people, but that time was controlled by me. As a college student, I found that you can’t really control the time you spend with people and alone time is not really available. Learning to deal with that was a lot harder than anticipated.
Any last comments on homeschool and how it has affected your college experience?
I think homeschooling is really helpful, however it does take a slightly increased amount of advocacy with your peers when you’re entering into college. I think a lot of people come in with certain assumptions about homeschool, especially students. You’re going to get a lot of, ‘oh my gosh, you don’t seem like a homeschooled person!’ [You can’t] take that too personally and explain your experience so that friends can understand it’s an important piece of you, though it might not look like the homeschooling that they’ve seen.
My encouragement to anyone who is a homeschooler transitioning into college is to realize the benefit that you have having been homeschooled, and to realize that the bit of advocacy and explaining that you need to do with your peers is totally normal and that it’s not a big deal. Once they understand your experience, it’s not something I’ve experienced being looked down on for.