Shabazz's daughter might only be thirteen but he wants to prepare her for the 'real world' and teach her the importance on financial literacy.
The education system serves as the foundation and the springboard to a better life for students. While it covers important subjects such as math, science, and English, it fails in enabling students to prepare for the 'real world.' In a financially fickle world, what students need more than ever is financial literacy and money management. Most often than not, it falls on the parents to teach their kids about handling money, and in many cases, the parents themselves do not have the financial literacy to pass on to their kids. Avee-Ashanti Shabazz, a father from Alabama, is keen to help his daughter learn the key skill. He's gifting her a house, not to spoil her, but to teach a very important lesson on her 13th birthday. He hopes it's the start of a long family tradition that'll help his family gain financial independence. "Let's put our children in POSITION to be FREE to live how they choose while they're young and full of life," wrote the Alabama father on Facebook. “Let’s prepare them early. Let’s put them in a position early at 13, gift her with a house at 13, teach her how to use that house to build more houses,” said Shabazz, reported Atlanta Black Star.
As a Black man, Avee-Ashanti Shabazz, knows financial independence is key to escape a vicious debt cycle. African-Americans are already at a huge disadvantage with the system skewered to favor the White man. Following the abolition of slavery, African-Americans were already so far behind the White man, who had amassed wealth and held sway over the pillars of the society including policy-making, finance, and countless other resources. As a result, it's always the African-American families that have struggled financially. It's been more than 400 years since people were enslaved and brought to the United States and the country stood to gain immensely on slave labor. It is estimated that the United States gained a value equivalent of $3 billion from slavery and this valuation was done in 1860, according to Forbes. The amount owed in reparations has grown exponentially since but America is not ready for a conversation on reparations.
"No more being trained to bury yourself in debt and spend your best years digging out of the hole," wrote Avee-Ashanti Shabazz in a Facebook post. Avee-Ashanti Shabazz knows that once you're stuck in a vicious cycle of debt, your whole life revolves around paying debt and struggling to stay afloat. "This was not random, it was planned. This marks the beginning of a family tradition where every Shabazz will be gifted a house on their 13th birthday, and taught to build it into multiple properties before they are legal adults," said Shabazz. He invested roughly $50,000 in the house. Government policies such as the Jim Crow Laws and the Fair Housing Act impeded many Black families from building generational wealth. Thanks to these government policies rigged against the African-Americans, the racial inequality gap continues to be a huge problem but Avee-Ashanti Shabazz is hoping to change that.
Avee-Ashanti Shabazz isn't just buying her a ready-made house but one that requires a lot of work before it can become a home. He supported her but it was his 13-year-old daughter who took the lead to remodel her new home. Avee-Ashanti Shabazz posted images of her new home after re-modeling and was showered with support from online people. He also shared images of his kids working on the house. One Facebook user wrote: I wish my parents had done that for me it would have gave me a great start.