I’ve faced a myriad of financial decisions in my years. Decisions rooted in survival, risk, and potential reward. For example, in 2022 I made the decision to depart from my three-year tenure at Amazon to launch a tech startup with two partners. This decision was not made lightly; it involved weighing several financial factors like my liquidity, my personal runway, loses in my earning potential, returns from current investments, the path to eventual payroll… you get the point.
I would not have been able to analyze any of these factors if I didn’t have a solid foundation in understanding my finances. Rewind my life a bit, and I wouldn’t have know what my consideration set should nave been. I didn’t grow up in a family that spoke of money much, and I just hadn’t been exposed to financial management.
The Birth of Beyond Budgeting
In April 2019, I watched as Rep. Katie Porter illustrated the lunacy of “just budget better” logic to the CEO of JPMorgan Chase by outlining the finances of an employee working for his bank in her hometown. She carefully laid out the actual salary earned from the bank, and then laid out modest, essential costs that leave the fictional employee with a negative balance. She asked the CEO how he would fix that budget. He had no suggestions.
I was inspired by Porter’s commitment to exposing the stark realities faced by workers earning minimum wage, juxtaposed against corporate wealth. Her line of questioning illuminated the systemic disparities within our economic landscape.
About the Series: Beyond Budgeting
BLK in Bloom recognizes that traditional budgeting cannot dismantle cycles of poverty or foster sustained economic growth. This series is a platform to provide Black women with exposure to a diverse array of strategies and insights across various facets of personal and small business financial management. The inaugural session of the Beyond Budgeting series, titled “Up Your Income 101,” was transformative. I’m grateful to everyone who joined us to kick off this journey, and I can’t wait for us to host you at the next session!
