Do Black Women Give Too Much?

Are black women generous to a fault? That's what a new study indicates:

The study of 1,000 professional black women and 454 non-black professional women by financial group ING, found that among the reasons black women didn't save enough was that they regularly gave money to family, friends and religious institutions.

More than 50 percent of the black women polled said they have loaned $500 or more to a friend or family in the last year. A third had loaned family more than $1,000.

"Black women's sense of obligation to community and family is both extraordinary and commendable," Rhonda Mims, president of the ING Foundation, told the website Diversityinc.com.

"When you are pulled in so many directions financially, something or someone has to pay the price. For black women, it appears their financial well-being suffers."

Do you agree? Read the rest.

Geoffrey Bennett

Tags: ING study | black women | money

5:24 PM ET | 10-21-2008 | permalink

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