One of the greatest challenges Black women face is the inequity in pay. According to licensed clinical psychologist Dr. Raquel Martin, these inequities tie in to their mental health as well. By passing the Paycheck Fairness Act, it can help improve not only the increasing wealth gap in this country but also address mental health challenges.

According to Dr. Martin, passing the act helps on the corporate level will require companies to disclose pay scales and salary ranges for positions. This will help identify and correct wage disparities. It will also increase access to higher education, professional development courses, and vocational training for Black women through affordable tuition.

So, what are the nine other things Black women could afford if the wage gap were eliminated?

• Approximately a year and four months’ worth of food
• Almost 14 months of rent
• Weekly psychotherapy sessions for almost two years, or bi-weekly sessions for 3.5 years
• The extra $18,304 a year could be saved to build a substantial emergency fund which would provide Black women with financial security during unforeseen circumstances, such as a layoff or personal health situation.
• Approximately 1 year of childcare for two children.
• 7 to 15 domestic trips, or 3 to 7 international trips annually which would provide opportunities for relaxation, cultural enrichment, and networking.
• Enough money to pay off the average student loan debt in under two years and pay off average credit card debt multiple times over in 4 to 6 months.
• The additional $18,304 could cover the cost of professional development courses. It would allow Black women to enhance their skills, increase their marketability, and potentially advance in their careers.
• The average cost of a new car is about $48,000. The additional funds could cover a significant down payment or purchase a reliable used car outright, enhancing mobility and access to better employment opportunities.

For more information on Dr. Martin and her services, please visit her website.