Excellent article. I'm always interested in ways to save. I no longer buy expensive articles and clothing.  In fact I now only wear black & white.  saves me a lot of money and saves energy as to what to wear and trying to buy all types of colors in clothing and shoes. I love it.  Now if only I can stop trying to take care of everyone else, sons, and family. Also I shop at slightly used clothing stores.  But sticking to wearing black & white, I really don't need as many clothes.

I sent this to every black woman whose email address I have because this information is valid (I'm black myself). I've talked to who are in leadership and do community work have encouraged people to do business as usual and "not participate" in this recession. That is so realistic, I'm glad this article is making people aware that their financial decisions today will affect their outcomes tomorrow.

This article praises black women as well as comments on how our positive attributes of helping family is also our financial downfall. This website addresses most cultures regularly so I don't feel this article puts us under a microscope. This needed to be said. And much credit to the site for addressing different cultures, it makes me feel included. I'm so tired of seeing "us" with big diamonds, car notes and no money in the bank. Sisters (of all cultures) let's be real and take heed to what the article says.

Good article.

I agree that this is not an issue that has anything to do with what color you are. A lot of spending done by women is done emotionally. When things are not going well or there are issues in life that need to be addressed women tend to see shopping as a quick fix. We buy things that we don't need but make us feel better during whatever we are dealing with. Buying expensive purses, shoes, or perfume has made me feel better on several occasions. It wasn't until I ran out of places to put the new purses,shoes and perfume that made me realize that my spending was out of control. I am a middle aged woman who has started some savings for the future but no nearly enough to maintain the spending habits that I had in the past. Shopping is fun and I don't intend to ever stop all together but everything should be done in balance. We cannot depend on others to take care of us when we are no longer able to work so always save some money to spend later.

I saw myself in the findings. For example, I am an impulsive spender. And I will deny myself to give to others.

Now, at 54 years old, I'm finally realizing that no one will care for me but me. Preparing to take care of myself actually lessens the burden others might have to bear.

I am in total agreement with the first comment. I am sick and tired of these articles about what black women or black men do in comparison with the rest of the world. I never see articles on what asian people do. What latino people do. What white people do. What american Indians do. Why are we always under a microscope? And who are these people that are used for these studies? I, and majority of the black people I know and encounter on a daily basis are extremely savvy with our finances. We save, invest and work to build wealth just like anybody else. These type of articles are unfair and only continue to perpetuate the stereotypes that we see on TV and hear on the radio. I am absolutely disgusted and wish the media would get their facts straight before publishing such nonesense.