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Grant money fueling program help Black women achieve financial freedom in Pittsburgh

PITTSBURGH — This week, the City of Pittsburgh announced it was awarded a $10,000 DollarWise Innovation Grant from The U.S. Conference of Mayors.

The series, entitled “Money Talks,” will launch in March. Local nonprofit Neighborhood Allies will take the lead in organizing a program designed to empower Black women to achieve financial freedom and close the growing wealth gap between Black and white families in Pittsburgh.

“Black women are doing worse than anyone else in Pittsburgh,” said Sarah Dieleman Perry, the director of economic opportunities at Neighborhood Allies.

A 2019 study revealed that in categories such as health, income and wealth, Black women are finishing last in the city, but with the newly announced funding, “Money Talks” workshops hope to change that reality.

“The workshops will be taught by financial experts which are all women, who bring a particular expertise,” said Perry.

Workshop sessions will be led by experts Tamika Barrett, realtor and accredited financial counselor; Jessica Perrone, founder of Her Financial IQ; and Veronique Scullion, financial adviser.

Research shows that women of color are not investing at the same rate as their white male counterparts.

“We are trying to counteract the gap and looking at investing as an opportunity to reduce racial wealth gaps,” said Perry.

An average white family has eight to ten times more wealth than a Black family; this program will teach debt elimination, savings and investment.

“Our goal for this program is for participants to gain the support, confidence, and knowledge needed to take the next step by saving and investing in the stock market,” said Perry.

The virtual program launches in March and will host between 50 and 60 women of color. Admission is free, and it is application based.

Perry said slots are filling up quickly, and the deadline to apply is Friday, Feb. 18.

“People have said that they want to learn how to pass wealth on to their kids; it is encouraging,” said Perry.

Click here to apply.