On Friday, Tina Knowles-Lawson and Cheryl Creuzot, author and CEO of Wealth Development Strategies, LLC, took the ESSENCE Fest Empowerment stage to discuss a topic that Black women often don't get enough information about, financial planning and wealth.
Taking the stage for a discussion moderated by ESSENCE editor Patrik Henry Bass, the ladies discussed Creuzot's debut book, Real Lives. Real Money, and the importance of money management and knowing how to tackle various financial issues.
During the discussion, Knowles-Lawson shared her own story on the importance of money management and finance, revealing that at one point she had to sell her house due to an unexpected debt.
Thankfully, Knowles had Creuzot to help guide her through the situation.
"It was so overwhleming that I didn't know where to start to detangle it," Knowles said. "Luckily, she [Creuzot] gave me all these steps to do and we worked through it and I have not been in that situation since."
"Everyone can't afford a financial planner," Knowles acknowledged,"but if you own a book, for $20, everybody can have the advantage of knowing that, basically, you can do it. Her favorite saying is, 'It's not how much you make, it's how much you save.'"
Knowles-Lawson's own revelation is one that may inspire others to push through financial barriers.