Here is a link to a Black Enterprise Magazine article re hanging onto more of your money. A wise person once said: "It's not how much you make, it's how much you keep that counts." So maybe this will help us to hang onto even more of our pennies.



http://www.blackenterprise.com/pageOpen.asp?Source=ArchiveTab/2005/06/0605-57.htm

Very good info, and timely too. I heard somewhere that when a person retires, they will spend something close to $6000/yr just eat. If they spend $5 on each meal every day.
Peace

Thanks for the info. Even that part about replacing the lights w/flourescent was something I can put to use right away as well as the penny saving.

I think that one of the best things we can do in our circle of Black friends, family members, and associates is to always try to work into our conversations or discussions with them the importance of saving and investing money, or starting a home business, like giving them tips or sharing other info about how you saved money—all in a light-hearted way. No heavy lecturing.
Pretty soon, some of them will start talking to you about what they’re doing to save money here and there, or invest, or start a business. This really works because a lot of people want to keep more of their money or make more, but don’t know how to do it.

Also, an excellent way to make investing money a reality for children and teenagers is to go to your local bank and buy them a savings bond for a birthday or holiday gift rather than a toy, clothes, or an electronic game. All you need is the child’s social security number and the address to where the federal reserve bank can mail the bond. Now I know that savings bond interest rates are very low now, but the child will get an important message from receiving this type of gift.

Good article, thanks for sharing Riada!

thankz for sharing this , now maybe i as one can save a dime or two .

I teach life skills on the college level and one thing I try to teach folks, especially our folks is to use your resources in the best way possible. Let's substitute resource for the term "money." Resources or things that are used to produce someting of value. What do we use the bulk of our resouces on? Clothing and cars. When you check the lint screen on your dryer, what do you see? You where see where your resources are going if you "invest" in clothing and we all know about the depreciation factor in automobiles. Nearly 50% of the value is lost in the first two years. How do you use your resources? Are you putting a good percentage in what you earn into something that is producing value for you? If not, you need to make some changes.

Eric

I teach life skills on the college level and one thing I try to teach folks, especially our folks is to use your resources in the best way possible. Let's substitute resource for the term "money." Resources or things that are used to produce someting of value. What do we use the bulk of our resouces on? Clothing and cars. When you check the lint screen on your dryer, what do you see? You where see where your resources are going if you "invest" in clothing and we all know about the depreciation factor in automobiles. Nearly 50% of the value is lost in the first two years. How do you use your resources? Are you putting a good percentage in what you earn into something that is producing value for you? If not, you need to make some changes.

Eric

Oh, this is a major issue. As long as some of our folks are so hung up on how people look or what kind of car they drive and other surface qualities, others in the community are going to continue to spend that money to impress with clothes and cars. For ex., I was dating a guy a couple of years ago who told me that he wouldn’t date a woman who didn’t have a late modeled vehicle because he didn’t want anybody parking anything raggedy in front of his house!! Now, he liked my car, that just happened to meet his criteria, but I lost interest in him real fast after that shallow comment and he could never understand why.

I think that one of the best things we can do in our circle of Black friends, family members, and associates is to always try to work into our conversations or discussions with them the importance of saving and investing money, or starting a home business, like giving them tips or sharing other info about how you saved money—all in a light-hearted way. No heavy lecturing.
Pretty soon, some of them will start talking to you about what they’re doing to save money here and there, or invest, or start a business. This really works because a lot of people want to keep more of their money or make more, but don’t know how to do it.

Also, an excellent way to make investing money a reality for children and teenagers is to go to your local bank and buy them a savings bond for a birthday or holiday gift rather than a toy, clothes, or an electronic game. All you need is the child’s social security number and the address to where the federal reserve bank can mail the bond. Now I know that savings bond interest rates are very low now, but the child will get an important message from receiving this type of gift.

Excellent article and excellent money advice, Sister Riada...

When I talk to the male members of my family these days, BUSINESS is always a part of our convos, and it's moving, now, beyond the stage of RAP... Now, we are doing projects, and slowly building something we can say is the actualization of all our talking...


Peace!
Isaiah

Excellent article and excellent money advice, Sister Riada...

When I talk to the male members of my family these days, BUSINESS is always a part of our convos, and it's moving, now, beyond the stage of RAP... Now, we are doing projects, and slowly building something we can say is the actualization of all our talking...


Peace!
Isaiah

That's super! I also find it amazing that there aren't more threads here that deal with making money and hanging on to it. "Money Sense" is a VERY important part of our advancement. So, it really retards our progress that this topic is so neglected.

That's super! I also find it amazing that there aren't more threads here that deal with making money and hanging on to it. "Money Sense" is a VERY important part of our advancement. So, it really retards our progress that this topic is so neglected.


I agree, sister, and it explains why we're where we're at economically in this country... Other groups - that's all they do is discuss how to make some money, and get wealthy, while Black Folks eat ourselves to death, and watch 70 hours of boob tube a week... It's all about our priorities, and being made aware by those who have awareness... Thanks for your awareness, as well as, brother Pan, who's posting most of the info up in here...(smile!)

Peace!
isaiah

That's super! I also find it amazing that there aren't more threads here that deal with making money and hanging on to it. "Money Sense" is a VERY important part of our advancement. So, it really retards our progress that this topic is so neglected.

^5 Sis! This is so true. I would like to see as many REAL discussions along with all the other philosophical ones.

For example:

How many people spend money every week hoping to hit the lotto but will walk over a penny, nickle or dime lying on the ground?

How many people find the money to afford to eat out every day but don't have a savings account?

How many people would have to pull out a credit card if they needed their brakes repaired or to even put gas in the car?

How many people buy groceries on credit?

How many 25-30 year old employees think they can afford to wait to contribute to a company pension plan?

How many people treat their income tax returns as a savings plan?