Lesson 2.3. Poverty, Race, Status, and Conspicuous Consumption, with Jessie Dunley Jr.

The intersection of race, status, and consumption is sensitive and complex. Because I teach personal finance, I’ve wrestling with what I think of all this for years. In this episode, I bring in Jessie Dunley Jr., a Black alumni of SOFF, to talk about how growing up Black and poor in Texas affected his consumption and savings habits when he became an adult. In this episode, Jessie talks with wisdom and sensitivity about the need to buy status items for both identity and safety, the balance between taking care of family and taking care of yourself, and the hopes and dreams he has for HIS children. We'll talk about the differences in intergenerational wealth between Black, white, and Asian families, the money scripts of different people of color, and how consumption "codes" us for how people perceive us and how we want to be seen. This is a special episode.