Dasha Kennedy is a passionate advocate for financial equity, aiming to address the racial and gender wealth gap.
“My aim is to close the racial and gender wealth gap by highlighting the economic challenges faced by Black women,” she states. Kennedy pursues this mission through impactful social media posts.
She founded the thriving Facebook group The Broke Black Girl in 2017 to equip young women of color with essential money management tools and insights.
The disparities in wealth based on race and gender are significant, especially for Black women, who earn only 61 cents for every dollar earned by men, compared to the 82 cents per dollar for women overall.
Reflecting on her financial struggles, Kennedy observed a stark absence of personal finance guidance within her family and community.
“I see myself as a financial activist because I strive to provide resources to those communities,” says the 32-year-old from St. Louis.
Her Facebook group, now boasting nearly 70,000 members, serves as a welcoming space for Black women to explore budgeting, investing, and wealth-building strategies.
But Kennedy’s efforts extend beyond the group. As a mother of two, she shares financial tips and motivation on her verified Instagram account, which has gained over 43,000 followers. Additionally, she maintains a blog, publishes e-books, hosts events, and offers coaching.
However, Kennedy's journey to financial confidence wasn’t straightforward.
The Broke Black Girl
Her finance career kicked off at just 19. After high school, she opted out of college and started as a mailroom attendant at an insurance firm. With guidance from an in-house accountant, she ascended to a senior accounting role by age 24, later working as a debt management counselor.
Then life threw her a curveball with a series of challenges—divorce, her father's passing, and an injury. Despite her solid job, she still felt like “the broke Black girl.”
“Ten-plus years in finance didn’t prepare me for the financial struggles I faced as a Black woman in a Black community,” Kennedy reflects. “Navigating financial literacy amidst such adversity left me feeling overwhelmed.”
Though she earned a good salary, Kennedy lived paycheck to paycheck. She realized she had to take control of her finances, acknowledging both her choices and systemic barriers.
“Understanding my financial position, shaped by personal decisions and systemic challenges, enabled me to craft a viable plan to address my struggles,” she explains.
Her four essential steps for anyone aiming to improve their financial standing are straightforward yet challenging.
First, evaluate your current situation. “Take time to review your financial documents,” she advises. “Examine your credit report and history. Open your mail!”
Next, seek assistance. While Kennedy relied on her professional knowledge, she recognizes that many may require external help. “You can read countless books, but without someone to help you understand, you might remain stuck,” she advises.
Then, be open to change. “I had to commit to my financial strategy,” she states. “This meant cutting back on certain expenditures.”
Finally, stay vigilant. “Monitor your income and expenses closely.”
After transforming her financial life, Kennedy was motivated to share her insights.
“I navigated my financial journey alone, and many around me faced similar challenges. I wanted to share my experiences and lessons learned online to assist others,” she shares.
Thus, The Broke Black Girl Facebook group was established.
Personal Finance with a Personal Touch
Joi Hudson-Steele, a 27-year-old yoga instructor from Maple Grove, Minnesota, joined The Broke Black Girl group at a friend's suggestion.
“I used to overspend significantly,” Hudson-Steele admits. “With my husband handling bills, I was wasting my business income. I had goals and investments in mind, but lacked the discipline to achieve them.”
Working with Kennedy changed her perspective. “Dasha taught me how to save while still enjoying life,” Hudson-Steele recalls, explaining how they crafted a “fun budget.”
“This allowed for indulgences while eliminating unnecessary expenses,” she adds. “Many don’t realize how much they spend on subscriptions, takeout, and shopping.”
In 2018, Kennedy left her bank job to focus on personal finance coaching and develop The Broke Black Girl brand. One primary goal was to better assist women of color.
“In conversations with African American women, I often saw their financial struggles rooted in cultural contexts, but I was bound to a script at work, unable to express the full breadth of their challenges,” Kennedy explains. “I left feeling frustrated, knowing I could do more if given the freedom to break from the script.”
Kennedy argues that many financial educators overlook the specific challenges that Black women face due to cultural and systemic factors. “I always say that personal finance is personal,” she emphasizes. “Financial institutions often miss the personal aspect.”
She aspires to provide resources through The Broke Black Girl that address these gaps.
For non-Black allies looking to support the fight against economic inequality, Kennedy emphasizes collective responsibility.
“Raise awareness and speak out,” she urges. “This is a pressing issue that won't disappear soon.”
