TFG podcast is back with Episode #75. This is a short (pre-show) episode when our guest Rahkim Sabree ( Financial Trauma content creator) stops by. We discuss the cost of keeping up with Black beauty standards. Additionally, we cover its historical connection to our wallets as well as our minds. Beauty is Pain(ful) and costly.
TFG podcast is back with Episode #75. This is a short (pre-show) episode when our guest Rahkim Sabree ( Financial Trauma content creator) stops by. We discuss the cost of keeping up with Black beauty standards.Additionally, we cover its historical connection to our wallets as well as our minds.
While beauty and personal care brands have committed to the advocacy and support of the Black community, gaps still exist for the Black consumer. This $7.4 billion industry is leading to Black debt and body dysmorphia.
What is body dysmorphia?
Body dysmorphic disorder (BDD) is a mental health condition where a person spends a lot of time worrying about flaws in their appearance. These flaws are often unnoticeable to others. While social media doesn't cause BDD, it can amplify the condition. You might constantly take and post selfies, then constantly scrutinize and criticize them. To deal with it, most are going under the knife.
"Beauty is Pain(ful) and costly..."
The costs?
The annual value of Total Beauty + Skin sales for Black consumers stood at $7.42B at the end of April, according to NielsenIQ Omnishopper.
Hair Care is the top category for Black consumers, with approximately $2.29B in annual sales. This is unsurprising, given the unique needs of textured hair types and the popularity of natural hair movement. Yet what is surprising is that the Facial Skin Care category is the least lucrative, making just $1.05B. Generating $1.94B, the Cosmetics and Nail Grooming category is also surprisingly weak, considering the size of the overall U.S. markets for both categories.
About us:
The Financial Griot is a play on two words (Finance + Griot) that hold significance in closing the wealth gap while embracing our differences. We tell the stories that others don't. Stories about growth, opportunity and embracing changes. Beyond that we talk about Finances. Specifically, how to become Financially literate, incorporating actionable steps and ultimately building generational wealth.
Can you imagine being a Millionaire in 20 years or less? Yeah it's possible. 80% of millionaires are first generation. That means they didn't come from wealth. We teach you how. Join a community of subscribers that welcome a fresh take on money.
So there you have it, The Financial Griot or TFG for short. The hosts were able to amass over $2 Million in wealth in about 8 years and are on track to retire early. If you want the secrets; we will gladly share them since opportunity is abundant and Win-Win.
Find the TFG Crew Hosts on Instagram
Alainta Alcin - Blogger, Travel and Money Enthusiast @alainta_alcin
Lovely Merdelus - Entrepreneur and Small Business Growth Specialist @lovelymerdelus
Lawrence Delva-Gonzalez - Federal Auditor, Blogger and Tax Specialist @theneighborhoodfinanceguy
Find our Featured Guest:
Rahkim Sabree
IG: @rahkimsabree
Contact: Lintr.ee/RahkimSabree