All tagged discussing finances with family

Why Families Have The Same Financial Patterns

Why Families Have The Same Financial Patterns

Vangile Makwakwa
Black Tax

Understand that the relationship we have with money and the way we're currently experiencing money can be unwittingly passed onto our kids.

This is why it's not uncommon for a family to have a similar spirit of money or a similar money archetype.

You can find the current generation responding the same way to money as the previous generation did.

It can feel like no matter what we do, we find ourselves in the same situation as our parents.

Maybe your mom would spend all her money at month end, and you feel like you can't stop yourself from spending all your money on month end - no matter what you have to use that money....

On Sons & Daughters Who Take On The Father Role In The Family

On Sons & Daughters Who Take On The Father Role In The Family

Vangile Makwakwa
Black Tax

We all know about the daughter who will try to replace her father through romantic relationships and even dating older men. 

But we don't talk about the daughter or son who feels obligated to help their mother carry the load financially.

Often this will be the first born daughter or son - they will often step into the role of the father, be super responsible and become their mom's wing man.

3 Myths About Giving Financial Help (or Black Tax) that Block Us Financially

3 Myths About Giving Financial Help (or Black Tax) that Block Us Financially

Vangile Makwakwa
Black Tax

Often when we talk about black tax, we talk about the recipients of black tax being problematic.

This is a major myth, because a relationship isn't just made up of one person. 

For today I want us to explore this myth and stop looking at the givers of Black tax as victims, and also explore their motives.

I say this as someone who has watched both their parents pay black tax. 

And as someone who has felt deep resentment that their mother had to help her family and end up losing so much in the end. 

Black Tax: When Giving Becomes A Financial Burden & Leads to Sibling Rivalry

Black Tax: When Giving Becomes A Financial Burden & Leads to Sibling Rivalry

Vangile Makwakwa
Black Tax

Black tax wasn't always "tax", it was a way of looking after the tribe and has its roots in compassion, love and wisdom on how to get out of poverty.

It's a way of paying it forward and is not unique to African people, it's practised in Asia and other ethnic communities.

The idea is simple - families need to get ahead - so the eldest or the smartest child in the family, whoever shows the most potential, would be educated...