With every new year comes new goals or resolutions that people want to accomplish, and usually, they fall in either the fitness/ health category or the finances category. When it comes to financial goals, USA Today reports that 55.70% of people are saving for a rainy day, followed by 52.90% of people saving for retirement, and so on. To hit those goals, budgeting comes into play. However, it can be hard to know where to start. Ebony Beckford of Fin Lit Kids created a financial literacy platform for kids and parents who want to teach their kids about the importance of the dollar. After becoming a mother, the entrepreneur was inspired to give her daughter Madison a head start by teaching her about financial literacy, which was something that she wasn’t exposed to in her childhood.
“My mother passed away when I was 18, and my sister had passed the year before her. And my sister had three small children and I obviously was pretty young myself. And so when I got pregnant with my daughter Madison in 2019, I started to reflect on that period in my life where I was trying to figure out the world without any adult supervision,” she tells xoNecole. “And I started to reflect on like, the things that I wish I would have known and could have done differently. And at the core of all of my issues following the death of my mother and my other family members really was that I didn't have money. It was economics.”
That’s why it was important for Ebony to build Fin Lit Kids because educating people while they are young is the best way to change the landscape and mindset surrounding wealth in our communities. However, you can still get a jumpstart on your financial goals today through three key things, and Ebony explains how below:
Ebony Beckford with her daughter Madison.
Photo courtesy
Budgeting
Oh, budgeting. Some people love it, others despise it. But if you want to meet your financial goals, this is usually the first step, no matter your lifestyle. “It goes back to our values. Figuring out what matters to you most, right? Obviously, we have the essentials that we need to focus on. So pay your bills first. Get the things you need first, but after that, you have to ask yourself, what do you value?” She says.
“Because, like I know, people say, have your emergency fund. Which is important. And I know people say investing, but I think understanding what that means to you. So, investing for me right now is building my business, right? It's not necessarily investing in the stock market, which I do have that, right? But it's figuring out what is going to get you through the next year, right? And then the next year.”
Changing Your Mindset Around Money
Another reason why people may struggle with meeting their financial goals is due to having a negative mindset about money. It can be due to a number of things such as your upbringing. “I grew up in the Bronx. I grew up poor, and I considered myself to be just a poor girl from the Bronx for years after I had built a life for myself. So that was completely different, right? So, I started to realize me and like being poor became a part of my identity,” she shares. “I wasn't walking around being fabulous or not even wanting to be seen because my identity was a poor girl. So I had to do a lot of work within myself to be like no girl, you, your parents, the circumstances that you know your parents were feeling when you came into the world has nothing to do with who you are and what you come from. You come from so much.”
Investing in the Future
Fin Lit Kids tagline is “restoring generational wealth” and one of the ways Ebony suggests people do that is by investing in their kids with not only money, but time. “I think a lot times because of the things that have been done to us it feels like we come from nothing, but we come from immense wealth. And so what we're doing now is not building generational wealth we're restoring it and the key way to restore it is financial literacy,” she suggests.
“And so I think what people, I don't want to say doing wrong, but I think there's a hyper focus on assets, right? Building and creating and generating assets. And so you have parents who are super focused, they're working like crazy. They're not available to their kids because they're trying to make enough money to pass it on to the kids. And then they pass it on and their kids, they blow it. They don't know what to do with it. And so I think people when thinking about building generational wealth, we have to also understand that like financial literacy is a key component of that, as well as the time that we spend with our kids and investing in them and making them understand what our values are and why things are important.”
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Feature image by PeopleImages/ Getty Images
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The essence of effortless poise and refinement shines bright through the iconic university colors of indigo blue, red, and white. Every October, Howard University students, alumni, staff, and friends gather on the prestigious campus in Washington, D.C. to take part in time-honored traditions and events, which is Homecoming. This year's theme, “The Meccaverse,” was a week-long celebration of Howard University’s heritage, including the Homecoming football game and Bison Pep Rally, the Fashion Show, Greek Life Step Show, Homecoming Day of Service, Lavender Reception, and the iconic Yard Fest Concert.
As 2024 marked the 100th anniversary of the Howard Bison trek back to The Mecca and after two years of virtual events due to the COVID-19 pandemic, this was to be a celebration of a lifetime. We enlisted HU alumnus Sharmaine Harris, a luxury retail buyer, as she revisited her alma mater as eyes on the yard for fashion-forward outfits mixed with personal style and campus pride for the weeklong celebration.
Before we get to the looks, discover how attending Howard University impacted her career in fashion and her day-to-day style:
Credit: Sharmaine and Friends
xoNecole: Describe your personal style. Did attending Howard have any impact on developing it?
Sharmaine: Howard taught me that there’s no such thing as being TOO dressed. There’s always a reason to “put it on” and look presentable, even if it’s just for a day of classes. Standing out was celebrated and encouraged with my peers embracing the opportunity, giving me the confidence to try new styles and trends.
xoNecole: How did Howard shape your career as a luxury buyer?
Sharmaine: I studied Fashion Merchandising, through which I was fortunate to have professors who were very connected to the industry and able to give first-hand accounts of opportunities and what to expect post-college. I was also able to build a network through my peers and other Howard Alum, which has opened doors to endless possibilities both within fashion as well as daily life.
The same confidence instilled in me through my style has also been rooted deeply within me as I step into any role or project I’m faced with throughout my career.
xoNecole: This year marked Howard’s 100th-anniversary Homecoming celebration. Can you describe what the weekend looked and felt like?
Sharmaine: I’ve gone to many Howard Homecomings since graduating, but this year’s 100th anniversary felt like a huge family reunion filled with nothing but love. It was beautiful to see so many Bison return home looking great and radiating joy. It was beautiful!
xoNecole: What makes Howard fashion different from other HBCUs?
Sharmaine: Being that Howard is The Mecca, we have such a diverse population with each individual having their own spin on fashion. Getting dressed is second nature for us, but the layered confidence is our secret ingredient to make any look come together. Through that comfortability to push barriers, we have a legacy of setting trends, as indicated by the many alumni we have in the fashion and entertainment industry.
Keep scrolling for the top street style moments from The Mecca's Homecoming weekend:
Credit: Lacey Gallagher
Credit: Alan Henderson
Credit: JaLynn Davis
Credit: Dylan Davis
Credit: Caleb Smith
Credit: Kendall W.
Credit: Jordyn Finney
Credit: Vanessa Nneoma
Credit: Dr. Mariah Sankey-Thomas
Credit: Caleb MacBruce
Credit: Tiffany Battle
Credit: Teniola
Credit: Ilahi Creary
Credit: Nicolas Ryan Grant
Credit: Dylan Davis
Join us in celebrating HBCU excellence! Check out our Best In Class hub for inspiring stories, empowering resources, and everything you need to embrace the HBCU experience.
Featured image courtesy of Sharmaine Harris
