Managing money in the midst of life’s other priorities is no easy task. So COVID-19 has put additional pressure on women of all ages and backgrounds, but especially on women ages 40+ as they consider the impact this will have on earning enough to plan for retirement.
April is National Financial Literacy Month an effort to highlight the importance of financial literacy and teaching Americans how to establish and maintain healthy financial habits. You can take action in changing your financial trajectory right away. WisePause asked Sonya Kay Blake, Founder of Zap the Wealth Gap about her inspiration for changing lives financially.
What inspired you to create Zaptheweatlhgap.com?
I looked around at my friends and family and noticed that very few had achieved a level of financial security they wanted. I realized that my community lacked resources to build wealth so I decided to do something about it. If those of us from modest means can start investing, especially now while markets are low, we have great hope for achieving the financial freedom we long for. The response has been so encouraging and I think people who take the pledge to become a social impact investor in this campaign are taking a decisive step to change their financial future.
How long from the inspiration to actually completing the site?
I got the idea while enrolled in a program called Landmark Self Expression and Leadership. I thought it would be a gratifying way to build community while I pursued my own interest in personal finance. I posted the idea on two if my alumni Facebook pages and built a team of people to brainstorm. We launched the website two and a half months after the idea came to me, on April 1, 2020, the first day of National Literacy Month.
How do you see this site being used during this time?
I’ve designed it to be a catalyst in new investors’ financial lives. Taking the pledge to become a social impact investor can ignite a spark and move people into inspired action. I’ve also curated a library of articles in pertinent topics to get people started in their road of self-education. So I see this website enriching and empowering people with practical knowledge.
What advice can you give to entrepreneurs and individuals during this time?
Start small if you have to, but start now! We might just close the wealth gap if we get into the markets wisely while it’s affordable. Don’t be intimidated by the lingo and don’t get paralyzed for fear of losing money. just start learning, talking about investing with family and friends and just get moving.
Now you’ve launched, what’s down the road?
One of the exciting projects on the horizon is to crowdfund real estate properties and leverage them to offer community services in inner cities, creating an uplifting ripple effect. people can even sign up on the website now if they’re interested in getting more information when this project gets off the ground in the future.
Sonya Kay Blake, is the Founder of Zap the Wealth Gap, a public information campaign promoting financial investing among Millennials and GenXers from low-to-moderate income families. firstname.lastname@example.org