5 Ways to Support Black and Latino Businesses 5 Times a Week—Without Spending a Dime

Supporting Black and Latino businesses doesn’t always require a financial investment. In today’s digital age, you can help entrepreneurs, creatives, and business owners in these communities thrive by simply leveraging your time and online presence. Here are five ways you can show support five times a week without opening your wallet.

1. Engage With Black & Latino-Owned Media on YouTube, TikTok, and Patreon

Actionable Steps (Daily or Weekly):

• Watch videos from Black and Latino content creators on platforms like YouTube, TikTok, and Patreon for at least 30 minutes to an hour each day.

• Hit like, share, and comment on videos to boost engagement.

• Let the ads play—this helps them earn revenue.

Why? Content creators on these platforms rely on watch time, engagement, and ad revenue to monetize their work. Your free views help them increase their earnings and visibility.

2. Stream Black & Latino Music on Spotify, Apple Music, and YouTube

Actionable Steps (Daily or Weekly):

• Create playlists with Black and Latino artists and stream their music on platforms like Spotify, Apple Music, Tidal, and YouTube Music for at least 1-2 hours per week.

• Play their music while you work, drive, or exercise—even if it's in the background, the streams count!

• Follow them on streaming platforms and social media to stay updated on new releases.

Why? Streaming platforms pay artists per stream, so the more you listen, the more they earn. Even older music still generates revenue, so support both emerging and classic artists.

3. Share and Amplify Black & Latino-Owned Businesses on Social Media

Actionable Steps (Daily or Weekly):

• Pick one Black or Latino-owned business per day and post about them on your Instagram, Facebook, X (Twitter), or LinkedIn.

• Leave a positive Google Review or Yelp Review for a business you’ve visited or want to support.

• Engage with their posts by liking, commenting, and sharing their content to increase visibility.

Why? Social media algorithms favor engagement, meaning the more likes, comments, and shares a business gets, the more people will see their posts—leading to potential customers and sales.

4. Sign Up for Free Newsletters and Blogs

Actionable Steps (Daily or Weekly):

• Subscribe to Black and Latino-owned newsletters, blogs, and digital publications.

• Open and read their emails (email open rates matter for sponsorships).

• Share their articles on your social media to drive traffic.

Why? Newsletters and blogs generate revenue through ads, sponsorships, and affiliate marketing. The more people read and share, the more businesses and publications can grow their income.

5. Support Crowdfunding Campaigns by Sharing and Promoting

Actionable Steps (Daily or Weekly):

• Follow Black and Latino entrepreneurs on platforms like GoFundMe, Kickstarter, and Indiegogo.

• Share crowdfunding campaigns on your social media and encourage friends to donate.

• If you can’t donate, write a short post explaining why their project is valuable.

Why? Crowdfunding success depends on visibility. The more people share, the higher the chance a campaign reaches its goal—even if they don’t donate themselves.

Final Thoughts: Small Actions, Big Impact

If you commit to doing just one of these five actions each day, you’ll be supporting Black and Latino entrepreneurs five times a week—without spending a cent. Over time, these small, consistent actions will help businesses grow, increase exposure, and lead to financial success for creators and entrepreneurs in these communities.

Start today! Which of these five will you try first? Drop a comment and let’s uplift Black and Latino businesses together.

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Who Holds the Most Buying Power in the United States? A Breakdown by Demographics

In the U.S., consumer buying power—the ability to purchase goods and services—is not distributed equally. Factors such as population size, income levels, and cultural influence play a significant role in shaping buying trends. Let’s dive into the key groups with substantial buying power and explore how they influence the retail landscape.

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Women: The Power Players of Consumer Spending

Women drive 70% to 80% of all consumer purchasing decisions, making them the most significant group in retail influence.

- Key Spending Categories: Household goods, beauty products, childcare, education, and healthcare.

- Trends: Women also dominate online shopping, particularly on platforms influenced by social media marketing.

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White Population: Dominating Total Buying Power

- Population Size: ~197 million (59% of the U.S. population).

- Buying Power: Estimated at $13-$15 trillion annually, accounting for the majority of consumer spending in the U.S.

Key Spending Areas:

1. Housing: White households lead in homeownership (~72%), driving spending on renovations and high-value properties.

2. Luxury Goods: Significant investments in designer brands, premium automobiles, and international travel.

3. Sustainability: Growing preference for eco-friendly and ethical products.

4. Education and Healthcare: High spending on private education, enrichment programs, and wellness initiatives.

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Black Population: Fast-Growing Buying Power

- Population Size: ~47 million (14% of the U.S. population).

- Buying Power: Estimated at $1.8 trillion annually (2024 projections), with growth outpacing overall U.S. buying power.

Key Spending Areas:

1. Beauty and Personal Care: Black consumers account for 11% of U.S. beauty spending, particularly on products designed for textured hair and melanin-rich skin.

2. Entertainment and Media: Trendsetters in music, streaming platforms, and live events, driving cultural adoption of hip-hop and R&B globally.

3. Clothing and Footwear: Strong focus on streetwear and culturally aligned brands, often spending disproportionately in this category.

4. Support for Black-Owned Businesses: Increasing preference for buying from community-focused enterprises.

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Cultural Influence: Where Black Consumers Dominate

While the white population holds more total buying power, the Black population wields **outsized cultural influence**, particularly in:

- Music and Entertainment: Hip-hop and R&B define global music trends.

- Fashion and Streetwear: Black consumers shape the sneaker culture and streetwear industry.

- Social Media: Viral trends and brand engagement often originate from Black creators.

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Emerging Trends to Watch

1. Rising Black Middle Class:

- Increased homeownership and wealth-building through real estate, stocks, and entrepreneurship.

2. Targeted Marketing:

- Brands that authentically engage with Black consumers and prioritize inclusivity will gain loyalty and market share.

3. Sustainability:

- Eco-conscious practices are becoming more popular across all demographics, including among Black consumers who value community-centered initiatives.

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Final Thought

The dynamics of buying power in the U.S. are shifting. While the white population leads in total purchasing power, women drive the majority of decisions, and the Black population’s rapidly growing buying power is reshaping industries from beauty to entertainment. Businesses that embrace diversity, inclusivity, and authenticity in their products and marketing strategies will position themselves to thrive in this evolving market.

Hurricane Beryl: A Devastating Impact and Its Political Repercussions

As Hurricane Beryl made its way through the Caribbean and the southern United States, it left a trail of destruction that will undoubtedly have significant economic and political implications.

Economic Impact

Hurricane Beryl, the earliest Category 5 hurricane in recorded history, caused widespread damage across several regions. The hurricane's ferocity was particularly felt in Jamaica, where it brought 140 mph winds and severe flooding, leading to significant infrastructural damage and displacing thousands of residents. As Beryl moved towards Mexico and Texas, it continued to cause havoc, with strong winds, heavy rains, and storm surges expected to impact these areas significantly.

Preliminary estimates suggest that the total economic damage in the U.S. alone could reach 28 billion dollars. The destruction of homes, businesses, and infrastructure, combined with the costs of emergency response and long-term recovery efforts, will place a heavy financial burden on the affected regions.

Political Implications

The timing of Hurricane Beryl could not be more critical, as it coincides with the run-up to the November presidential elections. Natural disasters often become pivotal points in political campaigns, influencing public perception of candidates based on their response and leadership during crises.

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For the incumbent administration, the handling of the hurricane's aftermath will be closely scrutinized. Effective disaster response and recovery efforts can bolster public confidence, while any perceived failures could become focal points for opposition criticism. Candidates will likely emphasize their plans for improving infrastructure resilience, disaster preparedness, and climate change mitigation as part of their campaign platforms.

Moreover, the economic strain from the hurricane's damage could influence voter priorities. Issues such as economic recovery, job creation, and financial support for affected communities will likely become central topics in the political discourse leading up to the elections.

FINAL THOUGHT

Hurricane Beryl's devastating impact extends beyond immediate physical and economic damage. It also plays a critical role in shaping the political landscape as the nation prepares for a pivotal election. The response to this disaster will be a testament to the resilience and adaptability of both the government and the American people.

For more detailed coverage on Hurricane Beryl and its ongoing effects, you can follow updates from sources like WLRN and My Clallam County.

Latest Developments for Recording Artists on Spotify, Tidal, and Apple Music

PROMOTE YOUR MUSIC WHERE YOU WILL GET PAID THE MOST

Spotify

Spotify is preparing to implement a revamped royalties model, aiming for a launch in the first quarter of 2024. This "two-tier" system has been in discussions with major labels and is expected to change how artists are compensated. This move is part of Spotify’s effort to address longstanding criticisms regarding its payout structure, which currently sits at about $0.0032 per stream, significantly lower than its competitors.

On a more positive note, Spotify recently celebrated its Best New Artist nominees, highlighting emerging talents such as Gracie Abrams and Ice Spice. These artists have gained significant traction through Spotify’s platform, showcasing the company's role in propelling new artists into the spotlight.

Tidal

Tidal has made several artist-friendly moves recently. It offers one of the highest per-stream payouts in the industry, around $0.013 per stream, which is more than both Spotify and Apple Music. This higher payout rate is part of Tidal's broader commitment to being an "artist-first" platform, demonstrated through initiatives like the "Artist Home" portal and the "Tidal Rising" program, which support and promote emerging artists.

Additionally, Tidal has enhanced its music-sharing capabilities, making it platform-agnostic. This update allows artists to share their music more freely across various platforms, potentially increasing their reach and fan engagement. Tidal also continues to provide high-quality audio experiences through features like Exclusive Mode and Passthrough MQA, which are designed to deliver superior sound quality.

Apple Music

Apple Music continues to innovate with features that enhance the listening experience. It supports Spatial Audio with Dolby Atmos, offering a more immersive sound experience, which is especially beneficial for artists aiming to deliver a high-fidelity audio experience to their listeners. However, it requires specific equipment to fully utilize these features, which might be a limitation for some users.

In terms of artist support, Apple Music has been less aggressive than Tidal in terms of payout rates but remains competitive with its robust promotional tools and large user base. Apple Music's New Music Mix and artist stations help in discovering new music, though some users find Tidal’s curated playlists more accurate and useful.

FINAL THOUGHT

Each streaming service has its strengths and weaknesses in supporting recording artists. Spotify is making strides in adjusting its royalties model, which could lead to better compensation for artists in the future. Tidal stands out with its higher payout rates and artist-centric initiatives, making it a strong contender for artists focused on higher earnings and engagement. Apple Music continues to innovate with advanced audio features, although its artist support mechanisms are not as pronounced as Tidal's.

Artists should consider these factors when choosing platforms to release and promote their music. For those seeking higher payouts and strong artist support, Tidal might be the best option. For those looking for a broad audience and innovative audio experiences, Spotify and Apple Music remain solid choices.

Increasing Wealth for 1st, 2nd, and 3rd Generation African and Hispanic Americans: Overcoming Common Challenges

Building wealth is a significant goal for many families, especially for 1st, 2nd, and 3rd generation African and Hispanic Americans who often face unique challenges. By understanding these obstacles and implementing best practices, these communities can take proactive steps toward financial stability and prosperity.

Common Issues Faced by African and Hispanic American Communities and Solutions

1. Limited Access to Financial Education

- Issue: Many African and Hispanic Americans lack access to financial literacy resources, which can hinder their ability to make informed financial decisions.

- Solution: Community organizations, schools, and local governments should offer accessible financial literacy programs. These programs should cover essential topics such as budgeting, saving, investing, and credit management. Online resources, workshops, and collaboration with financial experts can provide valuable education and support.

2. Systemic Barriers to Wealth Accumulation

- Issue: Historical and systemic racism has led to disparities in wealth accumulation, with African and Hispanic Americans often having less generational wealth to pass down.

- Solution: Advocacy for policies promoting equal opportunities in education, employment, and housing is crucial. Supporting legislation that addresses discrimination in lending practices and ensures fair access to capital can help level the playing field. Additionally, community initiatives aimed at building local wealth, such as cooperative businesses and community land trusts, can empower individuals to accumulate assets.

3. Income Inequality and Job Market Disparities

- Issue: African and Hispanic Americans often face wage gaps and higher unemployment rates compared to their white counterparts.

- Solution: Pursuing higher education and specialized training can open doors to better-paying jobs. Vocational training programs, apprenticeships, and partnerships with local businesses can provide pathways to skilled employment. Networking and mentorship programs can also offer career guidance and opportunities, helping individuals advance in their chosen fields.

4. Access to Capital and Entrepreneurship Support

- Issue: Many African and Hispanic Americans face difficulties accessing capital to start or grow businesses due to discriminatory lending practices and lack of collateral.

- Solution: Establishing community-based lending programs, such as microloans and credit unions, can provide more accessible funding options. Financial institutions should be encouraged to implement fair lending practices and offer mentorship programs to support aspiring entrepreneurs. Additionally, government grants and subsidies aimed at minority-owned businesses can help bridge the funding gap.

5. Housing and Real Estate Disparities

- Issue: African and Hispanic Americans often encounter challenges in accessing affordable housing and face discrimination in the real estate market.

- Solution: Implementing policies that promote affordable housing development and combat discriminatory practices in real estate is essential. Community land trusts and cooperative housing models can provide affordable homeownership opportunities. Education on homebuying and access to down payment assistance programs can also help individuals navigate the housing market.

6. Healthcare Access and Costs

- Issue: Limited access to affordable healthcare and higher rates of uninsured individuals can lead to financial instability.

- Solution: Expanding access to affordable healthcare through community health centers and government programs can alleviate this burden. Educating individuals on available health insurance options and providing assistance in navigating these systems can ensure better healthcare access. Preventative care and wellness programs can also reduce long-term healthcare costs.

The Impact of Taxes on Wealth Building

Taxes play a significant role in the financial landscape. In the United States, the tax system can be complex, with federal income tax rates ranging from 10% to 37%, depending on income levels. Additionally, state and local taxes, property taxes, and sales taxes further impact individuals' finances.

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- Obstacle: High Tax Burden

- Solution: Understanding and leveraging tax credits and deductions can significantly reduce tax liability. Tax-advantaged accounts like 401(k)s and IRAs allow for tax-deferred growth, while education credits can offset college costs.

- Obstacle: Lack of Tax Knowledge

- Solution: Seeking professional tax advice and utilizing free tax preparation services, such as the Volunteer Income Tax Assistance (VITA) program, can help ensure accurate tax filing and maximize refunds.

FINAL THOUGHT

By addressing the unique challenges faced by African and Hispanic American communities and implementing best practices for financial management, it’s possible to build and sustain wealth across generations. Education, advocacy, and community support are key to overcoming these obstacles and creating a more equitable financial future. With proactive measures and informed decision-making, 1st, 2nd, and 3rd generation African and Hispanic Americans can achieve lasting financial success.

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