Dominique Broadway Shares Wealth-Building Tips For Black Women Facing Financial Setbacks

Despite her expertise, Broadway experienced financial hardship after leaving her corporate career to pursue entrepreneurship.

Financial expert Dominique Broadway knows firsthand that financial setbacks do not have to define a person’s future. After facing foreclosure, mounting debt, and a repossessed vehicle, she rebuilt her finances and now encourages Black women to take control of their financial futures.

During an episode of BLACK ENTERPRISE’s “BE Wealth Accelerator,” hosted by Executive Vice President and Chief Content Officer Alfred Edmond Jr., Broadway discussed overcoming financial challenges, navigating economic uncertainty, and building generational wealth.

Broadway, founder of Finances Demystified, began investing at 16 and later studied banking and finance at Bowie State University, a historically Black university. She later worked in wealth management before launching her company, which she said has educated more than 700,000 people.

Despite her expertise, Broadway experienced financial hardship after leaving her corporate career to pursue entrepreneurship.

“I literally went broke starting my company,” Broadway said.

She attributed her struggles partly to undercharging clients and undervaluing her services, lessons that ultimately reshaped her approach to financial independence. Broadway, author of “The Wealth Decision: 10 Simple Steps to Achieve Financial Freedom and Build Generational Wealth,” emphasized that financial circumstances should not determine personal worth.

Addressing Black women navigating layoffs and financial insecurity, Broadway encouraged individuals to assess their financial situations, identify opportunities to increase income, and leverage existing skills to generate additional revenue.

She also advised reviewing investments, savings, and other assets to identify opportunities for long-term wealth building.

“Try to do it every week,” Broadway said of reviewing finances, recommending monthly check-ins at a minimum.

Edmond echoed the importance of recognizing that wealth extends beyond employment income, pointing to retirement savings, investments, and home equity as financial resources.

Ultimately, she urged viewers to make intentional decisions that support their financial goals rather than allowing temporary setbacks to dictate their futures.