Abstract
The study focused on analyzing perceptions on financial education and asset building in the Alabama Black Belt. Data were obtained from a convenience sample of 204 participants from several Alabama Black Belt counties. The data were analyzed using descriptive statistics. The results on demographics reflect a low number of persons in households, more females, relatively younger participant group, with relatively lower educational level, with relatively lower annual household income level, and a higher proportion of single, never married persons. A majority (71%) had not taken financial education classes, and 64% were willing to participate in an asset building program. Chi-square tests revealed that educational level and annual household income played a major role in having taken financial education classes; persons under 18 years of age in household, age, and marital status played a major role in willingness to participate in an asset building program. It was recommended that policy makers, academic institutions, and community-based organizations should help bridge the financial knowledge and asset building gap by implementing financial education and asset building programs in the study area, with considerations for socioeconomic factors such as educational level and marital status that appear to be related to financial education and asset building.