The Power Of Black Women's Wealth: How This Mother Is Helping To Empower Her Sisters
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Posted By: S. Moore on August 21, 2023 Ellie Diop, who got her start founding Ellie Talks Money, is building up the next generation of millionaires one mother at a time. In her quest to help fellow mothers build generational wealth through her Mommy To Millionaire platform and Ellievated Academy, Diop reveals that community has always been the driving force behind the initiative. Mommy To Millionaire “Our mission is that if we create wealthier mothers, we can create wealthier families, and that creates wealthier communities,” Diop told AfroTech. “My goal is to help women and moms build a seven-figure business and a seven-figure net worth because when we look at the statistics, women and Black mothers specifically have a net worth of around $1,700 or $1,800, which is frankly just not enough.” What’s more, Diop explained that radical change is necessary to shift the narrative as are resources, so that women have what they need to step into better financial circumstances. “We are working to change this by educating mothers on how they can start businesses, how to get funding for their businesses, how to hire their kids, how to build businesses with and for their children so that we can really make generational wealth not just a trendy word, but an actionable goal that mothers and families can attain,” Diop said. Their Offerings Through her platform, Diop offers educational courses with topics that include everything from digital marketing and content creation to course development and business funding. Per her website, the lessons have “helped thousands of new entrepreneurs scale their businesses.” Additionally, site visitors can also sign up for one-on-one coaching, inner circle mastermind sessions as well as public relations, content creation, videography, and course creation to help business owners take their ideas to the next level. Reflecting On The Journey Diop’s own personal experiences with building wealth comes from very humble beginnings when Diop found herself in a transitional period following a divorce. “It really started with me when I got divorced and that’s surprising right?” she noted. “Because when we think of generational wealth, we think of families. We think of long 50-year marriages, but generational wealth really took on a different meaning to me when my first family, if you will, ended or took a different shape.” She continued: “I got divorced in 2020, and so in that process I had to move back to my mother’s house. I had to start life completely over. No car, no job… nothing. It was really in that moment, kind of at the bottom, where I started to look at what I could do to make sure that this never happens to me, but also anyone in my family, namely my children, ever again.” For Diop, helping others learn how to navigate financial responsibilities is something she’s remained true to with a background in corporate America, specifically helping families to land the best life insurance policies. Financial Lessons Learned Just as people have learned from her Mommy To Millionaire platform, she has walked away with some major financial lessons herself. “The biggest money lesson that I’ve learned is that watching your money sit in the bank account is actually not doing anything for you,” Diop explained. “I definitely was the type of person to be like, ‘Oh, as long as I check my account every day… let me just see these dollars stacking up.’ And I used to think that’s what having money or being wealthy meant, but I quickly realized the longer our money is just sitting in our account, it’s actually losing value.” As for the future, Ellie Diop aims to continue to expand the Mommy To Millionaire brand with even more resources and tools for mothers across the nation. SOURCE AfroTech If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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