i)Financial market is extremely volatile a small investment mistakecan cost investors their lifetime savings.
ii)Employee benefits are vulnerable to market fluctuations (White,2009).
iii)Strict bankruptcy laws make it challenging for individuals entangledin debts to seek relief (White, 2009).
B.Schoolachievement of the African American male students
1.Educators stereotype black students as either average or belowaverage performers when compared with their white counterparts(Hamilton, 2009).
2.Many black students’ parents are rarely plan in advance for themeans they will use to educate their children. As a result, thestudents have to rely on loans, or sometimes quit school when noalternative final source is available (Hamilton, 2009).
3.Poverty – Academic performance of black student is hindered by theirimpoverished background that results from poor financial planning. Harnisch (2010) blames poor investment schemes, misinformation andlack of role models as the major causes of unsustainable financialcapability of adult male students.
C.Lackof job qualifications
1.Several black males cannot afford to pay for financial literacyprograms because they have no reliable jobs, as well as the capacityto apply for reliable jobs (Scott, Allen, & Lewis, 2014).
2.Some employers stereotype African American workers as incompetent,therefore, they unworthy to develop their financial literacy skills(Scott, Allen, & Lewis, 2014).
Rationalefor selecting the themes
Accordingto Harnisch (2010), financial literacy is crucial for improving thewellbeing of markets, individuals, communities and families. Besides,it assists individuals to achieve vibrant lifestyles duringretirement as well as work years. Consequently, financially informedindividuals often make strategic financial decisions, householdbudgets and investment plans that enhance their capability to acquirelong-term financially stability. Consequently, the AfricanAmerican family’saccess to financial literacy programs enhancestheAfrican American male graduation rates(Hamilton, 2009).
Explorationof the financial volatility theme is crucial as it provides numericaldata study of the black employees who lose their job opportunities.On the same note, the benefits for employees, market fluctuation theintroduction of stringent bankruptcy laws influence the job turnoverrates of the African Americans. Furthermore, people with secure jobstend to have marital stability as opposed to the individuals withunpredictable employment contracts.
Secondly,the school achievement of the black students determines theirqualifications to join higher learning institutions. Hamilton (2009)asserts that teachers often consider the black students as belowaverage performers while compared with the academic performance oftheir white colleagues. Poor academic performance also supposedlyenhances job turnover rate of the black males since they lack theessential qualifications for holding long-term high profile jobs. Thetext explores primary reasons black students fail to achieveexcellent academic performance compared to their white counterparts.
Finally,examining the job qualification status is critical to differentiatepossible causes of high job turnover rates among the black malestudents. According to Scot et al. I2014), many African Americanmales are often lose their jobs because they lack respective trainingfor the work. They are employed as untrained staff. The security ofunskilled jobs is very low hence, the need to explore methodsAfrican Americans can use to improve their financial investmentcomprehension.
Hamilton,T. (2009). Understanding the black college student experience: Therelationships between racial identity, social support, generalcampus, academic, and racial climate, and GPA. SetonHall University Dissertations and Theses (ETDs). Paper1685.
Harnisch,L.T. (2010). Boosting financial literacy in America: A role for statecolleges and universities. AmericanAssociation of State Colleges and Universities.
Scott,M.L., Allen, A. & Lewis, W.C. (2014). Dispelling disparities forAfrican American male students: A review of three successful charterschool models. Journal of African American Males in Education, 5(1),1-22.
White,E.P. (2009). Increasing the achievement of African American males.Departmentof Research, Evaluation, and Assessment.