Suggestions For Black Monetary Empowerment - Geo Tv News

Suggestions For Black Monetary Empowerment

“Probably the most harmful of all dependencies is to rely in your highly effective oppressor to free you and share energy with you, as a result of highly effective folks by no means prepare powerless folks to take their energy away from them.”

John Henrik Clarke

Introduction

The above quote from one of many towering giants of Afrocentric thought, the late John Henrik Clarke, speaks to the fact of current day energy relations between Caucasians and Afrikans. Let’s amend this quote in mild of the subject of this paper, Black monetary empowerment.

“Probably the most harmful of all dependencies is to rely in your rich oppressor to free you and share wealth with you, as a result of rich folks (and nations) by no means prepare poor folks (and nations) to take wealth away from them.”

John Henrik Clarke tailored by Paul Ifayomi Grant

Afrikan folks should be shocked out of our ‘waking coma’ and face the tough realities of the world we’re in. Nobody however ourselves goes to vary our typically pitiful financial situation. This can be a fiercely aggressive world during which totally different teams compete in opposition to one another, while many people are locked into an individualistic fantasy; pondering that success is a purely particular person pursuit. Group identification, solidarity, belief, co-operation and accountability present the platform for people to attain financial success. Because of this Afrikans are on the backside of the financial pile wherever we reside, regardless of the Oprahs, Bob Johnsons, athletes, entertainers and many others.

TOP TIPS

o Purchase Black (so far as attainable) – verify your procuring checklist and see how a lot expenditure you’ll be able to switch to a Black owned enterprise.

o Be taught in regards to the ‘Native multiplier Impact’ – do an internet seek for the New Economics Basis the place you will discover out about the right way to fill the holes in our financial bucket.

o Buy groceries with an inventory – 70% of purchases are spontaneous.

o Create a family finances and assessment it usually.

o Cease and depend to twenty earlier than making a spontaneous buy – visualise your financial institution stability reducing as the cash leaves your account.

o Perceive the distinction between Wealth and Earnings – excessive revenue and wealth should not essentially synonymous. A primary definition is that wealth = belongings – liabilities

o Discover out extra in regards to the idea of ‘residual revenue’

o Swap mortgage supplier, utility supplier and many others. frequently to get the most effective deal – most individuals usually tend to get divorced than change mortgage supplier

o Save for a hurricane not only a wet day

o Steadiness your investments between Excessive, Medium and Low danger investments – For an individual aged 35 the stability ought to roughly be 35 : 35 : 30. As you become old your funding stability ought to transfer in direction of a better proportion of decrease danger investments.

o Learn books, web sites and many others. that can educate you about monetary literacy and financial relations between totally different teams of individuals.

o Train your youngsters about monetary literacy – arrange a (excessive curiosity) financial savings account as quickly as they’re born. Encourage them to avoid wasting most of their pocket cash. When you can afford it, match what they’ve saved on the finish of the yr. Talk about your family finances along with your youngsters (when they’re sufficiently old) in order that they perceive that there’s not an infinite provide of cash from the outlet within the wall!

o Don’t accumulate debt shopping for depreciating belongings e.g. automobiles, digital tools, designer garments and many others.

o Take part in some type of collective monetary funding e.g. Pardner, ABDF Ltd (www.abdf.co.uk), credit score union and many others.

o Give cash usually to good causes that empower Afrikan folks

o Keep in mind, economics is a we sport in addition to a me sport – i.e. teams that spend money on their very own communities are economically sturdy.

o Financial charity begins Black at dwelling!

o Suppose Black, Purchase Black, to get us Black on Monitor!

Beneficial studying: BluePrint for Black Energy by Amos Wilson, Black Economics by Jawanza Kunjufu, Wealthy Dad Poor Dad by Robert Kiyosaki and Sharon Lechter, Suppose and Develop Wealthy a Black Alternative by Dennis Kimbro and Napoleon Hill, How Europe Underdeveloped Africa by Walter Rodney, Powernomics by Claude Anderson, http://www.moneysavingexpert.com

6242 (September 2006) Kemetic calendar



Supply by Paul Grant

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