Community and individual wealth should serve their interests and locality, instead of exclusively enriching the wealthy elite.
"Hey there, buckaroo!"
Let's cut right to the chase: Every time we buy from the Magnificent 7 corporations, shop online with giants, or pay loan interest to big banks, we're fueling the pockets of billionaires. To put it bluntly, if you make $50k a year, it would take an unholy 20,000 years to scrape together a billion bucks, even if you lived like a monk.
Our 2025 Annual Emergency Savings Report paints an even grimmer picture:
- 73% of Americans are scrimping on emergency savings due to inflation, increased interest rates, or changes in employment or income.
- 37% of U.S. adults have dipped into their emergency stash in the previous 12 months.
- 33% are drowning in credit card debt, with their savings accounts looking more like lifebuoys than reserves.
This wealth gap is as wide as the Grand Canyon, but here's some silver lining: You can learn to make your hard-earned dollars work for you, instead of for billionaires. Here are four changes to flip the script and reclaim your financial power.
Meet Bernadette Joy: Finance expert, entrepreneur, and educator, Bernadette is all about helping people become financially independent. As the founder of Crush Your Money Goals®, she's guided countless professionals and business owners towards debt elimination, wealth growth, and financial confidence through courses, workshops, and coaching programs.
Let's Get started
1. Bank and Shop Locally
Big banks don't just hold onto your money – they use it. If you've got deposits chilling in a low-yield savings account, they could be funding billion-dollar deals that don't benefit you in the slightest.
Local credit unions and community banks, however, usually keep money circulating within your community, supporting small businesses, home loans, and local development projects.
Last year, I moved some of my home down payment savings to a local credit union and landed a higher interest rate on a certificate of deposit than those offered by national banks.
Similarly, when you support your neighborhood coffee shop, bookstore, or family-owned restaurant, more of your money stays within your community, promoting job growth and supporting independent businesses.
Shift 10% of your monthly spending to local shops, and you'll feel the impact, not just on your wallet but on your community's future.
Open one account, like your emergency fund, with a local bank or credit union in your area. This keeps your money local, and look for APY rates – ideally, you'll find a high yield that also benefits your community.
2. Give Charitably to Shape Your World and Get Tax Benefits
Billionaires love to flaunt their charitable giving for tax deductions and a shiny reputation. That doesn't mean you can't join the party. Charitable giving is a powerful financial tool for us regular folks.
For example, one of my clients hosted a golf tournament for his youth sports organization. By donating and sponsoring, I supported a cause I care about, built new business relationships, and scored a tax benefit.
Donating appreciated stocks or other assets that have increased in value can also be smart. Normally, you'd owe taxes on the gain, but by donating, the nonprofit gets the full value, and you get a double tax benefit: a deduction and avoiding capital gains tax.
Donate to three nonprofits that resonate with your values, and you're not just reducing your taxable income, you're building the kind of world you want to live in.
3. Stack Cash so You Can Take Advantage of Wealth-Building Opportunities
Most people save for rainy days. Billionaires save to buy rain. While the average American is spooked by a recession, billionaires are stacking cash for their next real estate deals, startups, or market dips – ready to move fast when opportunities arise.
Most of my clients aren't in a position to jump on opportunities because their safety cushions are low or they're bogged down by credit card debt, which carries an average interest rate above 20%.
I've been debt-free since 2019 and now keep more cash on hand than the median American's bank account balance of $8,000. When a great business or investment opportunity comes along, I'm ready to seize it.
Build an "opportunity fund" set aside for wealth-building opportunities that support local resilience, like becoming an angel investor or supporting community initiatives.
4. Get Accredited to Invest with the Big Boys
Wealthy people have access to exclusive investment opportunities that you can't touch.
Accredited investors are individuals or entities who earn $200k a year or have a net worth of at least $1 million. They can invest in private real estate deals, startups, and other opportunities that are risky but potentially yield high returns.
Aiming for accredited investor status is like getting a VIP pass to the hottest concert: You gain access to exclusive opportunities, a better view, and a more rewarding experience. It's not just about getting richer – it's about having the chance to invest in companies you believe in, rather than being limited to public offerings.
Get started on the road to accredited investor status by saving more, paying off debt, and growing your income. Even if you never reach that goal, you'll have a better financial plan if you aim for it.
It took me a decade to build my net worth and become an accredited investor, and now I'm focusing on investing in small businesses, not run by billionaires, but by people I know, like, and trust.
- Bernadette Joy, a finance expert, suggests opening an emergency fund with a local bank or credit union to keep your money within the community and potentially earn a high yield.
- Instead of just paying taxes to reduce income, consider donating to nonprofits that resonate with your values to receive tax benefits and contribute to building the world you want to live in.
- Build an "opportunity fund" to take advantage of wealth-building opportunities, as billionaires do, by saving for future business or investment opportunities and aiming for accredited investor status.
- Become an accredited investor, where possible, to access exclusive investment opportunities that could yield high returns and allow you to invest in companies you believe in, rather than being limited to public offerings.
