The costs of financial illiteracy are high. Poor money habits equal a bad credit score. A bad credit score equals a higher price tag on the cost of living. It’s a vicious cycle of poor money management. In America, families of color fall behind in building wealth compared to white familes. For example, in 2016, black families made seven times less than white families.
Detroit native Breana Curry wants to change the game of finances for the black community. Breana works to help urban families make better money decisions through her company, Curry Financials LLC.
The financial coaching company is on a mission to empower young people and adults with the necessary financial literacy to build their personal wealth. At it’s heart, Curry Financials seeks to disrupt long-established cultural and social systems that cause African Americans to fail by teaching them money management.
Here’s what Breana had to say about Curry Financials:
Tell me about your business.
Curry Financials’ mission is to educate young adults on the basics of credit, budgeting and saving. The vision is for families to embrace financial literacy, end generational poverty and establish generational wealth.
How did the idea for your business come about?
When I moved to Atlanta in March 2016, it was a leap of faith. I didn’t have a job or a place to stay, but one thing I did have was a plan. After submitting what felt like a million applications from March to June and not hearing anything back, I was finally connected to the United Way of Greater Atlanta, a nonprofit I genuinely wanted to work for. I became a financial coach for the their veterans program.
I thought it was just an opportunity to get me in the door and help pay the bills. I had no idea it would turn into a business because finances was not my thing. Nevertheless, I grew to love it. I helped formerly homeless veterans increase their income, repair their credit and learn how to budget and save. After working with them and hearing their testimonies, I was able to see the difference it made when a person learns the art of money management. Check out a few of the testimonials on CurryFinancials.com.
What separates it from similar businesses?
Curry Financials is different from similar businesses because we focus on educating our clients. Companies with similar business models, especially those with a credit component, focus on “fixing your credit.” I’m not a credit repair lady. My mission is to educate you on how your credit score is calculated, how to make it increase and what will make it decrease. After we’re done, you will know how to fix credit yourself.
I am passionate about disrupting systems that are put in place to make African Americans fail. In order to disrupt these systems, we have to educate ourselves. The financial system was never set up to benefit us. Did you know the history behind Wall Street’s name? It is called “Wall Street” because there used to be an actual wall built by slaves where snipers would shoot slaves who tried to escape from being sold. We were the first commodity sold on the stock exchange. Clearly, we have always been valuable. Today, Wall Street is known as one of the most influential financial districts in the world. If the economy has always depended on us, then why are so many of us still poor? One reason we remain in poverty is lack of knowledge about our history and the basic rules of money management.
If you have poor money habits, then you probably also have a bad credit score. If you have a bad credit score, then you are literally charged more to live your life. You pay more for everything: from the type of house/apartment/car you can afford (because your down payment and security deposit depends on your credit score), to how much you pay when using a credit card (low credit score = high interest rate). Essentially, this is another form of control because you are only allowed to do so much. They’ll offer you credit cards galore, but no one ever teaches you to never go above 30 percent of your credit limit. If you have a credit card with a $1,000 limit, then you should never spend more than $300. Understanding simple facts like that and knowing how to manage your money can change the trajectory of our livelihood. They want us to continue to drown in debt, stress ourselves out and live paycheck to paycheck. They know how powerful and valuable we are, which is why so much effort is put toward the continuation of oppression. We must disrupt these systems by educating ourselves, strengthening our legacies and passing down healthier habits.
Describe your business in three words.
In less than three words- Financially Lit (lol)
Where do you see your business in the next 10 years?
In the next 10 years, Curry Financials’ curricula will be implemented into school systems across the country. It will include unique lesson plans for students in elementary all the way to college. It has already been created, but I’m taking these next few years to learn and become as solid as possible mentally, spiritually and professionally. This way when it’s time for me to steer the ship, it will sail forever.
Who is your target audience?
My target audience is young adults ages 16-24. I am dedicated to making the information relatable, fun and easy to understand. Young people are our rising leaders, and they need to learn about financial literacy at an early age. Eventually, they will know it so well they’ll inevitably teach their parents, siblings, aunts, uncles and, most importantly, their future children.
What advice do you have for high school students thinking about starting a business one day?
Put your thoughts on paper. Goals in your mind are just ideas. You have to write them down to call it a plan. Once you write them down, keep them in sight. Write on Post-its or write on your mirror in erasable marker. Stay organized. The more you see it and the more you talk about it, the more likely it’ll come into fruition. Somebody has to do it. Why can’t that somebody be you?
How have you grown or changed since joining the entrepreneurial world?
I’ve become much more responsible. I take pride in my brand, and I understand I’m accountable for how my business operates. Maya Angelou said, “People will forget what you said, people will forget what you did, but people will never forget how you made them feel.” When people encounter Curry Financials I want them to feel love, compassion and genuine concern. I believe whatever you do, you should execute with excellence. Don’t waste your time or energy being mediocre. Give it all you’ve got.
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