Strategies: Racial Wealth Building

Support programs that provide matched dollar incentives for low or moderate income individuals to place some or all of their tax refund in a savings account

Provide education on basic budgeting, bank use, credit management, bankruptcy, credit building and counseling, homeownership, retirement, divorce, etc.

Support acquisition of job-specific skills through education, certification programs, or on-the-job training, often with personal development resources and other supports

Build assets through child development accounts (CDAs) with contributions from a sponsoring organization, such as government agencies or nonprofits, and family, friends; also called children’s savings accounts (CSAs)

Provide career and technical education (CTE) as an integrated part of an academic curriculum for students, especially those at risk of dropping out of high school; also called vocational training

Provide industry-focused education and job training based on the needs of regional employers within specific sectors

Provide occupation-specific training for low-skilled individuals in high-growth industries, with education and supports, usually with stackable credentials and work experience opportunities

Support financial institutions providing services to underserved and disadvantaged communities

Apologize for the history and legacy of slavery and provide direct payments or community investments to Black descendants of people enslaved in the U.S.

Apologize for discriminatory housing policies; increase subsidies, financing, and paths to homeownership for people of color; and invest in systematically disadvantaged neighborhoods