When it comes to building generational wealth, one of the biggest challenges Black communities face—both in the U.S. and here in the UK—is how quickly money leaves our hands and our neighbourhoods.

(This blog is the last of the Wealth Wellness Series. If you’ve missed any of the previous parts, you can click here to access them.)

In the U.S., it’s been said that money circulates within the Black community for just six hours, compared to 17 days in white communities, 19 days in Jewish communities, and 28 days in Asian communities. This eye-opening stat comes from Brooke Stephens’ 1996 book Talking Dollars and Making Sense.

Now, while the data is from the U.S., the UK isn’t doing much better.

But what does circulates actually mean?

It’s about how long money stays within a community—how many times it’s spent between Black-owned businesses and services before it exits. So, if I buy from a Black-owned bakery, that bakery hires a Black accountant, and the accountant uses a Black-run IT service—that’s money circulating. But if I get paid and immediately spend it at a big chain store, that money leaves our community.

We’re spending—but not always with each other. We consume plenty, but we’re not yet producing or reinvesting enough into our own ecosystem. And that’s part of the reason why wealth doesn’t stay—or grow—where it needs to.

The Wealth Gap Is Real, But So Is Our Power

In the UK, the average wealth for a Black African household is £34,000. For a White British household, it’s £314,000 (Office for National Statistics).

That’s not a small gap—and yes, systemic inequality plays a role. But inequality is not the only problem.

If we break it down, about 30% of the wealth gap is structural—things like historic exclusion, limited time in the UK to build assets, and unequal access to homeownership or capital.
The remaining 70%? That’s down to behaviour, culture, and how well we understand and use money. This is encouraging because we have the most power to change the story. 70% is a big number.

7 Steps to Building Generational Wealth

1. Start with Property

Property is still one of the most reliable ways to build long-term wealth. And, I get it. It is tough. I have struggled to own as a single mum living in London. So, if buying feels out of reach, look into Shared Ownership schemes, Help to Buy, or Community Land Trusts. The sooner you start thinking about owning the easier it becomes. Rephrase the self-talk from, I can’t afford to own a home to “how can I own my home” watch the answers and solutions roll in.

2. Sharpen Your Financial Skills

You don’t need a finance degree to get good with money. You need focus, clarity, consistency, and discipline. From budgeting basics to understanding credit, interest rates, the knowledge is out there. Start with one question—and commit to learning the answer. Here is an example of a good question. How much of your income should you allocate to essential bills, fun and your savings and investment. Find out more here.

3. Use the Right Tools

ISAs, pensions, high-interest savings, and investing platforms—these aren’t just for “wealthy” people. They’re for anyone who wants to grow what they have. Even if you’re starting small, the key is: start.

4. Secure the Future with a Plan

Generational wealth isn’t just about what you build—it’s about what survives you. Wills, life insurance, and even a simple estate plan can make sure your assets go where you want them to. Not the tax man.

5. Keep Money in the Community—On Purpose

We’ve already talked about circulation. Here’s what that can look like in action:

• Buy from Black-owned businesses regularly, not just during Black History Month.
• Recommend Black professionals (lawyers, stylists, accountants) when someone asks for a referral.
• If you run a business, hire from the community.

Every pound spent is a seed. The question is: where is it growing?

We don’t need guilt—we need intentionality. If you’re spending anyway, let it be with businesses that help build the future you want to see.

6. Normalise Money Conversations

Money talk isn’t taboo—it’s necessary. Speak to your children about credit. Talk to your parents about pensions. Share tips with friends. The more we talk, the more we learn—and the more we lift each other.

7. Match Excellence with Support

Yes—buy Black. But also? We must strive to deliver excellence. Supporting Black businesses shouldn’t mean accepting substandard service. We must hold ourselves to high standards—because that’s what builds trust, reputation, and repeat business.

Every community that thrives economically makes quality a non-negotiable. We can do the same. If we want to build wealth and keep it, levelling up our professionalism, systems, and customer experience matters.

Let’s give each other reasons to return—not just out of solidarity, but because the service is that good.

No One’s Coming to Save Us—But That’s Not a Problem

Wealth-building doesn’t require perfection. It requires momentum.

The system has cracks, yes. But sitting around pointing at them doesn’t get us closer to ownership, legacy, or freedom.

We move forward by doing the work that we can do. And that starts with how we spend, how we save, what we teach, and how we think.

If you’re ready to make those shifts, I’m walking that road with you.

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