CBX Daily 3/5/2025

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CultureBanx Team
March 05, 2025

Today, parents use 529s to secure their offspring’s academic fate, but let’s start with how millenials are choosing pets as their primary mate…

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Millennials Redefine Spending As They Trade Paychecks For Pets 

CBX Vibe

For many millennials, pets aren't just companions—they're financial priorities. With 34% of millennials willing to turn down higher-paying jobs to be with their pets, it's now clear that furry friends are influencing financial decisions in a big way. Reports show that the pandemic, which decimated other businesses, only accelerated the growth in the pet business. Pet ownership surged during the Covid-19 pandemic, and today, over 66% of U.S. households own a pet, spending more than $136 billion annually. 

Parents Continuing To Bank On 529 College Savings Plans           

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Most parents begin saving for college before their child is 10 years old and this could be a future key to closing the racial wealth gap. Only 16% of African American parents are saving for college using a 529 plan, which is like a prepaid tuition program, according to Northwestern Mutual. Even though parents are saving more for college now than ever before, their preparedness could still use improvement, and a solid 529 plan could put their children on the path to success. 

Single Women Are Taking Over Luxury Real Estate          

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Single women are fueling a major surge in the top-tier housing market. For years, lenders could refuse mortgages if a woman lacked a male co-signer. We’re now witnessing a historic shift as these buyers gain wealth and influence. The proportion of single female homeowners is increasing at a faster rate than their male counterparts—20% compared to 8%. Women are projected to control 38% of investable U.S. assets by 2030, totaling around $34 trillion. 

Tune-in Tuesdays!

Trump's stance on deporting immigrants while offering financial incentives for wealthy ones to stay raises questions about fairness and priorities in immigration policy. Is this a bold move to boost the economy, or a controversial step towards further dividing the nation’s immigration system?

A. "Gold Digger" by Kanye West – This policy could be seen as prioritizing money over people, where only those with wealth and resources are allowed to stay, while others are cast aside, highlighting a troubling trend of valuing financial status over human dignity
B. "Money Trees" by Kendrick Lamar – The proposal might be seen as a way to attract investment and boost economic growth, capitalizing on the wealth of foreign individuals to benefit the nation
C. "Get Rich" RJMrLA – In any economy, there exist societal structures that leave the less privileged at a disadvantage while the rich are treated differently, reinforcing social inequality

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and it’s the stock market, there will always be ‘Changes’.

Does Architecture Need Pop Culture To Increase Diversity?         

CBX Vibe:

The field of architecture is a fascinating intersection of creativity, culture, and community. It's a realm where structures are not just bricks and mortar but a reflection of the societies they thrive in. Black people comprise only 1.8% of the National Council of Architectural Registration Boards Certificate population, with Black women holding only 0.4% of all records, according to the NCARB 2023 By The Numbers report. 

Peace Awaits Black Expats Who Leave The U.S. Behind        

CBX Vibe:

The American dream is slowly or rather quickly slipping away from many Black expats who once thought they'd get a sense of belonging, peace and tranquility by moving to the U.S. Most expats leave their home countries in search of greener pastures and being a new entrant into a new country only to face racism, new social and cultural environments can shape a person's sense of belonging and security. Racial inequality has always been there but it's about to get worse with companies having to scale back their DEI initiatives.

Vibes of the Week

It’s “Love In Real Life” as millenials trade paychecks for pet love. Lizzo tells it in our CBX Vibes!