Saturday, March 27, 2010

Spending Habits And Divorce


A lot has been mentioned of the high divorce rate for black marriages and it has been shown that money is the leading cause of today's divorces. With black men and women typically making less money than their white counterparts, one might deduce that this very factor makes finance influenced divorce more prevalent among blacks. But there is another factor, that being financial habits. A recent study gives a startling revelation about the financial circumstances of single black women:

"Women of all races bring home less income and own fewer assets, on average, than men of the same race, but for single black women the disparities are so overwhelmingly great that even in their prime working years their median wealth amounts to only $5."
"Among the most startling revelations in the wealth data is that while single white women in the prime of their working years (ages 36 to 49) have a median wealth of $42,600 (still only 61 percent of their single white male counterparts), the median wealth for single black women is only $5."

7 comments:

Tabloodsaw said...

Clearly you are clueless!

Rocky said...

Then why don't you provide a clue?

Menelik Charles said...

Tabloodsaw said...

Clearly you (Rocky) are clueless!


Menelik replied:

then don't turn away in disdain; provide a clue; present an argument; and spark a debate!

If what was written is essentially true then let's discuss how these facts may contradicts stereotypes of the go-it-alone, independent, I-can-do- bad-all-by-myself, Black woman.

On the other hand, if the data is essentially untrue then challenge it and let's go on from there.

Deal?

Menelik Charles
London England

Rocky said...

My sentiments exactly bro Menelik.

Anonymous said...

@Rocky

This dovetails nicely with the most recent post on Andrew's blog about black women not being able to pay their rent and are thus being evicted from their homes. I wonder how many black women lost their home during the housing crisis. I can only imagine all the unscrupulous lenders salivating at the idea of putting a lot of financially unfit black women into homes they couldnt afford.

When you consider many of these home purchases were predicated on the idea that you wouldnt have to pay the principle for years to come but instead only had to pay the interest which was less than what a lot of people paid for in rent... A lot of people jumped at the idea. My aunt had a nursing assistant (she is a physician) who owned five, thats it, FIVE, homes at one time.

Kigali

Menelik Charles said...

@ Bro Rocky,

you maybe interested to read this very brief exchange I had with Tablblood over at her blog:

http://reclaimblackfamily.wordpress.com/2010/03/15/why-would-a-white-man-ever-even-look-at-a-black-woman/

Menelik Charles
London England

Anonymous said...

Men generally know how to fix a car and the house.

Women are usually at a disadvantage here because they are too concerned with manicures, jewelry (which costs men a fortune), hundreds of clothes and shoes, useless home decor (fake flowers, pricey plants, and knickknacks), and makeup.

Men invest in automobile magazines, financial magazines, and hobbies that include computers and electronics.

Women have entirely different habits that are impractical for survival.

Men go to Costco to look at new tool boxes while women look at daffodils, and therein lies the problem.

PacMan