Many young adults find themselves having to juggle limited resources to support themselves and their extended families. The culture, colloquially known as “black tax”, is common in many households and is seen as a way of uplifting future generations.
It is called a tax, not because there is a legal obligation or indictment to it, but a cultural one. “Black tax” is an income young professionals give to their families to support them. It impacts the ability of many to save and build generational wealth.
