The Black Girl's Guide to Financial Freedom: Build Wealth, Retire Early, and Live the Life of Your Dreams

by Paris Woods

This is not another boring personal finance book! Are you tired of spinning your wheels following financial advice that leaves you feeling broker than before? Are you pulling your hair out trying to follow the complicated instructions offered by the gurus? In The Black Girl’s Guide to Financial Freedom, Paris Woods takes the guesswork out of wealth-building and presents a plan that anyone can follow.Paris spent years working in education and wanted to find a way to build wealth without changing careers or taking the traditional real estate or business routes. This book is the result of years of research and practice that helped her find a simpler path. Through real-life stories coupled with clear and actionable advice, you will learn generational wealthAvoid common financial trapsEarn your next degree debt-freeAchieve financial independence and retire earlyDesign a dream life you can start living todayThis book is perfect for Black women of any age, including young professionals just starting to set financial goals and mid-career women who are tired of following the same old rules and are ready to live life on their own terms. If freedom is your goal, then this is the book for you.Pick up your copy today by clicking the BUY NOW button at the top of this page.

Genres: Finance, Nonfiction, Self Help, Money, Personal Finance, Personal Development, Audiobook

203 pages, Kindle Edition

Published September 17, 2021

About the author

Paris Woods is a first-generation college graduate of Harvard University and a lifelong educator, having worked at some of the country’s top institutions. The daughter of a wise mother who encouraged her to venture out into the world and make “new mistakes,” Paris learned the hard way how to manage her finances and achieve financial freedom.

Through years of trial and error and the guidance of numerous FIRE (financial independence, retire early) experts, Paris landed on some simple principles that completely turned things around for her financially and in life. Paris's debut book, The Black Girl’s Guide to Financial Freedom, teaches readers how to win financially while living a life they love. Writing with the heart of a teacher, Paris breaks down seemingly complex financial topics into simple and actionable advice anyone can follow.

Paris has enjoyed numerous opportunities to help families with their personal finances, including through her work as a college financial aid officer and as an IRS-certified tax preparer. Paris earned her bachelor’s degree from Harvard College and her master’s degree from the Harvard Graduate School of Education. She is currently an executive doctoral student at the University of Texas at Austin and she resides in New Orleans, LA.

Reviews

[Just A Girl With Spirit · Rating 4 out of 5]

A great start to the new year! This is a year of action and starting some things I wish my younger self had started, but I can’t dwell on that..now is the time. Emergency fund. Roth IRA. Pay off the little debt that I have this year. My goal is to move out of the apartment we have been in for 9 years. I’m claiming this!!✨

[Lain Littlejohn · Rating 4 out of 5]

Pretty Good

This is a great place to start if you're wanting to get started on planning for financial independence. I got a few ideas from reading, but as someone already pretty financially literate, it didn't add too much. It was nice to have a personal touch to the topics via Wood's life experiences, but it was clear in the text that access to money in the first place is essential. If you're starting with large amounts of debt, I wouldn't say this is where to start, though it does give helpful tips on addressing debt. Unemployed folks with no income would not benefit, in the moment, from reading this, besides gaining some insight that could be helpful way down the line.

[Maija Hall · Rating 5 out of 5]

The Black Girl's Guide to Financial Freedom is one of the most accessible finance/lifestyle books I have read. Woods ends each chapter with key learnings, concrete next steps and learning resources to help make large financial goals attainable within the limits of your comfort. The sage advice and research in this book is helpful for people in all stages of their journey to financial freedom, even if you haven't taken the first step. Woods also emphasizes the importance of reflection and moving toward financial freedom in a way that aligns with your values (and provides reflection questions to help you find your values). I will revisit this book regularly to remind myself of the practices and action steps to realize the freedom of a debt-free, financially independent life.

[Krystal · Rating 3 out of 5]

I really wanted to like this book and get something out of it, but I didn’t. This book may be great for teenagers or adults that aren’t the slightest bit financially literate, but if you’re financially literate, I don’t think this book will add anything to you. I was disappointed that Ms. Woods mentioned nothing about how to leverage credit cards to your advantage or how to leverage a life insurance policy for generational wealth and retirement.

I think in terms of practical advice that will help you build and protect your wealth, Increase, Protect, and Dominate Your Money by Tony Jackson is a better read.

[Ietrio · Rating 1 out of 5]

The biggest issue: apart of being a very racist and sexist tome, I failed to notice what was uniquely applicable to women, or black people. And ”girl”? Isn't it a bit patronizing? As in slave owner patronizing? Or the author thinks that a 6 year old can work in modern day US?

The second issue: the advice is very very basic. One is far better watching YouTube, or searching on Google, than wasting money on this crap.

The last issue: the author not only failed to retire, but Woods' own method of building wealth is by getting degrees to become a governmental worker, meaning you work, you pay taxes, Woods gets a generous paycheck and healthcare even if he doesn't even bother to work that month.

Side issue: the blurb seems to be written only by leeches that spread the prosperity gospel: as they live off their audiences and not their **** advice.

[Danielle L · Rating 5 out of 5]

This took me a while to read because I knew a lot of the information and I typically read non fiction history. I will say though that this book helped me understand why you should max your TSP/401k and the purpose of having an additional retirement account (Roth IRA). People have tried to explain this to me many times but I guess reading it in a book helped me understand it better. This is perfect for those that do not have the guidance or mentorship about basic financial literacy. It’s easy to understand and provides examples and resources.

[Natasha M. Nurse, Esq. · Rating 2 out of 5]

I was looking forward to reading this book for a deeper understanding of finance. This just touched the surface but wasn't the type of guide I thought it would be. I will share more in the Dressing Room 8 June Book Club on Swellcast ✅ (Stay tuned for more)

[Ann Marie · Rating 5 out of 5]

Excellent Excellent Excellent... Ladies, do yourself a favor and get this book! It's for US!

[K. ♡ · Rating 4 out of 5]

This was a great audiobook to indulge in!! I appreciated how transparent Paris was in communicating her experiences from her past and how that has transformed the decisions she makes in the present. I greatly enjoyed the practical tips and tools she provided so that I could implement some financial changes myself. I'll definitely recommend this book to other women looking to make some financial changes in their lives, with the hopes that they may feel empowered to know that it's never too late to try something new.

[Amber Hicks · Rating 3 out of 5]

The first half of the book felt like a basic financial primer, best suited for readers who may be new to managing credit and debt. However, the second half, particularly chapters 6-8, was more beneficial to me. These chapters helped me to think outside the box about earning additional income, offering fresh ideas and practical advice on investing and even early or mini retirement. While the book might not bring groundbreaking insights to those with financial experience, it serves as a solid guide for those looking to rethink their financial future and explore new avenues for wealth-building.

[Opeyemi Olagunju · Rating 3 out of 5]

Really sped through this because libby was going to take it from me!! Anyways I feel like I got lots of ideas from this book but it’s def a take what you need and leave what you don’t situation.

[Kenya Flippin · Rating 5 out of 5]

Read this book as a black girl from a small southern town, where most people live below the poverty line, and it might’ve just changed my life. Taught me some valuable insights about money, debt, credit cards, which is essential in a time when people are preying on the ignorance of others. Specifically on the ignorance of people from marginalized communities. Today, at 21, I am committing myself to a path towards financial freedom. Thank you, Paris Wood.

[Hilary · Rating 2 out of 5]

Disappointing in that I learned nothing new nor did it speak to me as a Black woman. I didn’t expect to learn anything groundbreaking, but I did think I would be reading about a money makeover and saving for retirement with a sister girl twist. It was mostly just the same tried and true methods to becoming more financially independent. An overall drab read.

[Victoria · Rating 5 out of 5]

This is a very helpful book about getting your finances in order. Men and women of any color can learn sound financial advice from this woman.

It's not one of those get rich quick schemes, and teaches regular people financial strategies that may have never been taught to you.

For example, investments including index funds (VTI & VTSAX), 401k/403B retirement funds, IRA, and online saving accounts with better interest.

Also, how to tackle debt ranging from credit card to student loans.

There are many jewels in this book and I plan on rereading it again and letting my friends know about it too.

[Shanique Edwards · Rating 4 out of 5]

A great introduction to the FIRE movement, as well as a good introductory personal finance book. Each chapter has reflection questions and work sheets at the end for you to apply the topics in the chapter, which I liked.

[Tonya Todd · Rating 4 out of 5]

Before finishing the second chapter, I had already purchased two more copies for family members. The author does a fantastic job of sharing tips and steps on this challenging topic in accessible language that is easy to follow. I recommend it for anyone (not just black girls) interested in financial freedom.

[Joy Elmore · Rating 4 out of 5]

I like how this book provides concrete advice over mindset tips. Also, as someone who already has basic finances in order, I’m glad that this book goes beyond that into investing.

[Shawntal Brown · Rating 4 out of 5]

I really appreciated this book meant for Black women's financial growth! I think it was good gems in this book and I definitely plan to purchase a physical copy to return to all of the suggestions offered. I will say some section weren't as relevant or were a bit elementary for my needs but overall, a helpful book to read!

[Sarah · Rating 5 out of 5]

This is the first financial planning book I’ve read. Paris broke down the concepts in easy to understand language without it feeling like I was being talked down to. She inspired me to look at index funds and explore the idea of FIRE or mini-retirements. I’ll be thinking more about why I work and what my end goals are! I appreciated her references to other resources to go learn more.

[Lamarr · Rating 5 out of 5]

Great tips and read for current times dealing with finances. I am excited about implementing these things. Great audible read! :)

[Kelli Young · Rating 3 out of 5]

Nothing profound or new in comparison to any other financial book.

[Alisa · Rating 3 out of 5]

Decent book. I didn't gain any additional insight after reading this book, and I don't see how the information in this book is specifically relevant to Black women, besides the very brief mention of scholarships. A lot of what was discussed in the book was knowledge that I'd already acquired over years of basic Internet searches. At times the author came across a bit condescending, particularly where she indicates that if someone "needs" their job, that they're being "controlled" by said job. I don't know anyone these days who doesn't "need" their job?? Overall, I'd recommend this book to a novice looking to get a bit more understanding on how to get out of debt, be a bit more financially savvy, etc. I think it would be good for those graduating high school or college.

[MacKenzie Green · Rating 5 out of 5]

When books like this get written I think of the idea that when the least among us are taken care of we all are.
The author takes great care and consideration to recognize that most Black folks don’t grow up with this kind of financial education, and that Black women make less than their male and white counterparts.
And because this book prioritizes Black women’s financial education, it’s a great resource for anyone in an underrepresented minority group.
I appreciate that the author is learning and sharing with us what she’s learning, and not gatekeeping.
I also applaud books that have helpful resource lists or bibliographies.
Really enjoyed this book and can’t wait to share it with others!

[Cheyenne Turner · Rating 4 out of 5]

For my third deep book of the year, I decided to read The Black Girl's Guide to Financial Freedom by Paris Woods. I wanted to read this book for more insight on how I can improve my financial life in the future and how I can build wealth for myself as I get older. I wanted to be more financially literate, so I thought this would be the perfect book for me, especially as a young black girl. In this book, Paris Woods took the complications out of wealth-building and presents a plan that anyone can follow. My first finance book, Rich Dad, Poor Dad, talked about building wealth from the perspective of someone who already had money and that book only focused on real estate, business building, and a little stock investing. Paris spent years working in education and wanted to find a way to build wealth without changing careers or taking the traditional real estate or business routes. Through real-life stories coupled with clear and actionable advice, she helped me learn how to build generational wealth, avoid common financial traps, earn my college degrees debt-free, achieve financial independence, and how to possibly retire early.
Paris Woods is a first-generation college graduate of Harvard University and a lifelong educator, having worked at some of the country’s top institutions. Through years of trial and error and the guidance of numerous FIRE (financial independence, retire early) experts, Paris landed on some simple principles that completely turned things around for her financially and in life. Paris has helped many families with their personal finances, including through her work as a college financial aid officer and as an IRS-certified tax preparer. Paris earned her bachelor’s degree from Harvard College and her master’s degree from the Harvard Graduate School of Education. She is currently an executive doctoral student at the University of Texas at Austin and she resides in New Orleans, Louisiana.
The book splits into 3 parts: 1. How to get out of debt 2. How to earn more money 3. Steps to take if you want to retire early. "The Black Girl's Guide to Financial Freedom" offers a comprehensive approach to achieving financial independence, dividing its content into three essential parts.

Firstly, it addresses the challenge of debt by providing practical insights and strategies on how to get out of debt. This section emphasizes the importance of budgeting, managing expenses, and implementing debt repayment plans tailored to individual circumstances. The second part focuses on increasing income, recognizing the significance of earning more as a key component of financial freedom. This included advice on career development, negotiating salaries, pursuing additional income streams, or exploring entrepreneurship tailored to the unique experiences and challenges faced by Black women. Finally, the book delves into the steps necessary for early retirement. This section is likely to cover topics such as smart investing, building passive income streams, and creating a sustainable financial plan that aligns with personal goals. By offering practical advice and a culturally relevant perspective, the book aims to empower Black women on their journey towards financial independence and early retirement.
This book had good definitions, she broke down terms that wouldn't otherwise be known to common just starting to get into financial talk. She also expands on the FIRE movement. The FIRE (Financial Independence, Retire Early) movement is a lifestyle and financial strategy aimed at achieving early retirement through aggressive saving, investing, and frugal living. The goal is to accumulate enough wealth to sustain a comfortable lifestyle without relying on traditional employment.
The Black Girl's Guide to Financial Freedom is one of the most accessible finance/lifestyle books I have read. Woods ends each chapter with key learnings, concrete next steps and learning resources to help make large financial goals attainable within the limits of your comfort. The sage advice and research in this book is helpful for people in most stages of their journey to financial freedom, even if you haven't taken the first step. Woods also emphasizes the importance of reflection and moving toward financial freedom in a way that aligns with your values (and provides reflection questions to help you find your values). Wood’s takes great care and consideration to recognize that most Black people don’t grow up with this kind of financial education, and that Black women make less than their male and white counterparts. And because this book prioritizes Black women’s financial education, it’s a great resource for anyone in an underrepresented minority group. I appreciate that the author is learning and sharing with us what she’s learning, and not gatekeeping.

This is a great place to start if you're wanting to get started on planning for financial independence. I got many ideas from reading. It was nice to have a personal touch to the topics from Wood's life experiences, but it was clear in the text that access to money in the first place is essential. If you're starting with large amounts of debt, I wouldn't say this is where to start, though it does give helpful tips on addressing debt. Unemployed folks with no income would not benefit, in the moment, from reading this, besides gaining some insight that could be helpful way down the line. I was also a little disappointed that Ms. Woods mentioned nothing about how to leverage credit cards to your advantage or how to leverage a life insurance policy for generational wealth and retirement, but I suppose that I could research those topics on my own time.

[Allyssa · Rating 3 out of 5]

This book is a great read for those who are just starting their financial journey. The author explains financial concepts in an easy-to-understand manner.

However, her discussion of debt as a shackle placed on individuals by credit card companies is disingenuous. It doesn't encourage personal accountability and instead feeds into a victim mentality. The first step to financial freedom is understanding how unnecessary spending sabotages your success. The author's change in writing towards personal accountability in the second half of the book is in direct contrast to the beliefs expressed in the first three chapters. It seems counterproductive to tell black women that they are slaves to the system rather than their own choices.

Finance is no longer an area where we are forbidden from participating. Instead, generations of financial illiteracy have led us to hold beliefs about money that go against our best interests. If the author intended to focus on financial problems that plague black women, it would have been beneficial to discuss our habit of equating the ability to buy objects with success and happiness. Why do we feel the need to spend money on unnecessary things to prove our worth and status when this action is harming us?

[Sieara DeLone · Rating 5 out of 5]

Practical, Moving, Purposeful

I chose 5 stars because of how practically the advice can be applied. I would probably do 4.5 if I could simply because the approach of debt elimination honestly is challenging for me and maybe that is a personal problem. I think it is a great suggestion but maybe not as easy to do at first as the book suggests. Paris makes it clear she had to cut and work to do so, but even so it is a hefty primary suggestion. However as you read the rest of the book I begin to understand her reasoning for doing so. So full circle read I suppose. I like how quick the read is which allows readers to work and apply and not spend all their time inside of the book— though reading is important of course. I recommend this book to everyone especially Black women and girls obviously. Information like this is less practically given to marginalized communities like ours. However this valuable information should be readily available to everyone. Especially young people about to begin their financial journeys for the first time ever. Awesome job, Ms.Woods. Thank you for challenging and inspiring.

[Tina · Rating 2 out of 5]

🥴 I wasnt a fan of this book. It was an easy read but tbh i didnt learn anything; not even one financial tip that i didnt already know before reading. Alot of the info in this book is generic stuff that any literate person would already know. Im finally getting into learning about how to manage my money so that i can build generational wealth, and i thought this book would give me some good gems to go by. But.. NOTHING! And tbh, from listening to Dave Ramsey on Youtube, she said alot of stuff that he has said.. “Only eating beans and rice etc” and honestly Dave Ramsey doesnt mean that literally.

I was kinda over this book a chapter in. My fiancé has read Dave Ramseys book and has talked to me about some of the things he read in it, and in this book it was the SAME things that he said. 😒 I feel like this book would be good for a 18-22 year old that knows nothing about managing money. But for anyone over that age, everything in this book is common sense and stuff you already know. 🤷🏽‍♀️

[Sparkle Mark · Rating 2 out of 5]

I really wanted to like this book and wanted to learn more as it's the first black girl financial book I've stumbled upon. I enjoyed reading her anecdotes and learning about her financial journey; however this book is nothing special. As a young adult who's been researching and learning about financial literacy and majored in Finance, this book falls extremely flat and quite frankly, was disappointing. Very surface level information that can be found in any financial literacy 101 YouTube video or with quick research especially in this information age we're in. It's common knowledge not to fall into credit card debt and not to rack up student loans. Woods may have just been ill-advised when she first started out and thought her story and "research" was worthwhile, but it left much to be desired both in the writing and the context.

Maybe this book would be beneficial to high schoolers or truly someone who knows nothing as it is an easy read. But if you have any sort of financial knowledge, this book doesn't add much.

[Nkechi Ajogwu · Rating 4 out of 5]

10 down, 290 to go.

Genre - Finance

The Black Girl's Guide to Financial Freedom shows how to be free from debt obligations, create detailed visions, generate cash to achieve financial goals and build generational wealth.

Lessons:
1. Having money brings freedom. It gives you choices. Money gives you the confidence to say no to people and things that don’t align with your values.
2. Build an emergency fund.
3. There is power in taking the slow route to get the things you want in life.
4. Save until you can afford the things you want.
5. Getting into debt is easy, getting out is one of the hardest things.
6. No matter how fancy the house or car is, the novelty will wear off. If you're not careful, you'll be stuck in the cycle of wanting more and never appreciating what we have.
7. Know what is most important to your authentic self—the self unaffected by impressing others.
8. Track how much you spend and where your money goes.
9. Increase the amount of money you save by earning more, and spending less.

[Tisha · Rating 5 out of 5]

Rhema!

Wow, just wow; I’m at a lose for words!
I’m a sucker for a good book (especially a novel) & the preface of this book read like one, so I was hooked! It’s so well written, yet practical. In a word, it’s rhema!

“The Black Girl’s Guide to Financial Freedom…” is everything I’ve been looking for in a financial education book and it’s so brilliantly put together, all in one book!

Thank you a million times, Paris, for this roadmap! I’m officially on my way to a mini-retirement with a goal of reaching early retirement within the next 10 years! You’ve given me everything I need to bring it to fruition!

This book will be a Christmas present to everyone on my list this year!