Black Women's Relationship with Money

New study focuses on the often overlooked demographic.

By SHARE

A new study from ING, working with Essence magazine, explores black women's attitudes toward money. The participants said they worried about finances more than their health, appearance, job, or relationships. Here are some highlights:

  • 47 percent of black women surveyed said it is difficult to have the lifestyle they want because of financial obligations to immediate family.
    • More than one third have loaned more than $1,000 to friends or family in the last year.
      • 71 percent said it was "very important" to donate money to their place of worship.
        • 41 percent feel guilty about how much they spend on expensive brands.
          • 2 in 5 reported total savings of less than $10,000.