It’s not common to grow up not talking about finances in a black household. Let me rephrase, in some families, we talk about how much we’re going to spend on items, but might not have a real savings account. Black spending has topped $1 trillion, and millennials spend more than they are bringing in. What gives?
Benoni Tagoe is using every resource imaginable at his disposal to teach Black millennials how to empower themselves to financial literacy and how to stay consistent in following their dreams with The Bizz Plan.
“I have a lot of friends who know how to get money, but they don’t know how to keep it,” he said.
“I grew up where people didn’t have money,” said Tagoe, 27. “A lot of people who grew up like me, they fell into the same cycle as their parents. I wanted to create something that urban millennials could learn from.”
Sometimes it’s the framing that makes it hard for a millennial to retain information. If what’s being said is boring and stale, why bother listening in the first place? “You’re learning things from a 50-year-old white man. No one wants to pay attention to that because they don’t know the culture.”
He got his start working in the music industry working with artists like Jordin Sparks and Mindless Behavior, but those plans changed once he met Issa Rae. They met through mutual friends, and she told him about her series, “The Misadventures of Awkward Black Girl.” He immediately wanted to work on the project. Together they produced other web series for her production company, and everything took off from there.
That’s where his web series comes in. With his experience with Rae on his side, Tagoe brought in the likes of Vine superstar King Bach, blogger Taye Hansberry, REVOLT editorial director Julian Mitchell, among others to give snippets of advice on how they made it and how to brand yourself.
Tagoe chose influencers he thought would be an asset to teaching, even if it was in a five-minute video. Would their perspective touch the audience. So far, it has. “I didn’t know how people were going to receive it,” he said. “I’ve heard nothing but positive feedback from it. I go on YouTube and read the comments and people say, ‘This series has helped me figure things out.’ If people received the soft launch well, I can’t wait for what’s next.”
And what’s next is Tagoe expanding his brand and The Bizz Plan. He’s gearing up for national workshops on teaching financial literacy and also working on books for the same purpose.
“Everybody is waiting for something like this,” Tagoe said. “I want to educate [people].”
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