Black MBA - Winter 2008/2009 - (Page 31) My first priority when I have extra money is to Pay off existing debt 61% Save or invest it 29% I never have extra money 5% Help a family member 3% Splurge on something I want 3% 0 20 40 60 80 100 Whites have greater resources and support systems than Blacks to rely upon in situations that may threaten their socioeconomic status. Financially, I believe I am better off than my parents. In terms of savings, I think my financial future can be most easily derailed by Strongly Agree Agree 18% Neutral 10% Disagree 7% 62% Job loss 58% Missing a paycheck or two 21% Healthcare costs resulting from illness in myself or a family member 13% Credit card debt 5% Other 4% 0 20 40 60 80 100 Strongly Disagree 3% 0 20 40 60 80 100 The Black middle class is different than the white middle class. Strongly Agree Neutral 7% Disagree 8% 54% Agree 29% The Black middle class is still a generation behind in addressing longterm financial growth and stability. Long-range goals have yet to include passing wealth to future generations. Financially, I believe my children will be better off than I am. Strongly Disagree 2% 0 20 40 60 80 100 Strongly Agree 48% Agree 23% Neutral 18% Disagree 8% Strongly Disagree 3% 0 20 40 60 80 100 The Black middle class is worse off than the white middle class. Strongly Agree 50% Agree 31% Neutral 10% Disagree 7% Strongly Disagree 2% 0 20 40 60 80 100 BlackMBA • Winter 2008/2009 31
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