Black People : Where Are You Trying To Get To???

Discussion in 'Black People Open Forum' started by carlhurd, Oct 25, 2002.

  1. carlhurd

    carlhurd Well-Known Member MEMBER

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    I was thinking about how fast years past us buy one minute you are 10 next 20 and so on. Then as I matured I look back and see all the money that I wasted on things and really did not save. We should at least try very hard to teach our children the importance of saving, let them know that despite being black in America that one thing we do have control over is our money and what we do with it. A book written in 1968 by A.G.Gaston called GREEN POWER inspired me. I have never heard of this brother before until I was at the library and came across it his book by accident. This brother did very well for himself and his community and really cared about children.
    What I liked about him the most is that he put his money where is mouth was. Here is a quote from Mr. Gaston remember this is around the late 50's early 60's

    " How many Negroes have lost a home, but paid for the furniture; have owned a $4,000 automobile, but couldn't pay tuition for a son or daughter in college: have spent $400 on a party, but wouldn't give $10 to a worthy civic cause; have lived high on the hog, but died and left a widow and children with mortgages, debts, broken hearts and no life insurance?"

    "Our message to our people must always be to save a part of whatever is earned; invest in a home; build a life insured estate..."

    The point I am trying to make is that we should at least learn as much as we can about savings investments and finance so that we may share this information with our children. That they may know that if there is anything that we have control over it is what we do with our money.

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    "The thing is that we all heard the phrase "Knowledge is power" actually it is the use of KNOWLEDGE that gives us great power"
    Carl W. Hurd
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  2. carlhurd

    carlhurd Well-Known Member MEMBER

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  3. Alkebulan

    Alkebulan Well-Known Member MEMBER

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    what a gr8 & timely topic. gaston is quite well kown n my neck of the woods & i agree that he set a shining example of walking the walk. :D

    f u're trapsing around w the new car, nice clothes, etc. but living n poverty, u really hv no plans to make it. u may b only a paycheck away from being that 'bum' n the street. many of us, mistakenly referred to as 'middle class' r actually living n poverty & don't know it. f u're living check 2 check & barely able 2 make ends meet, u may b tetering on financial ruin & totally unaware of ur situation. it doesn't matter how new the car is that u drive or how 'in' ur clothes r. what happens f (when) u get sick, r unable 2 work, & can't get paid 4 months? this could eventually force u to lose ur car, house or apartment, &/or declare chapter 7 or chapter 11 bankruptcy.

    many of us have grown up w/o the benefit of an empowered based financial education that is often given to the children of other groups. as a result, we make bad financial decisions from the beginning of our adult lives right on thru 2 our death. these include accumulating 2 much debt via credit cards, purchasing cars we can't afford, & generally living above our means, or at least at the limit of our ncome. as millionaire lecturer and author robert kiyosaki states in his book "rich dad, poor dad: what the rich teach their kids about money that the poor and middle class do not", what generally separates the poor and middle income from the rich is the understanding of the difference b/t assets & liabilities.

    basically, the rich spend their money on assets (which brings $ n) & use the extra income generated from that asset to buy liabilities. on the opposite end of the spectrum, the poor & middle income tend not to invest n assets (real estate, stocks, etc.) & instead spend their $ on liabilities (which takes $ out). this often translates to 1 living a lifestyle of poverty repeated 4 generations and thus becoming a slave (both physically and economically) to the wealthy. that's where the 'faking it to make it' mentality comes n2 play. we don't realize our 'slave' status and thus have accepted it with no fight while being mis-educated to believe that a nice car, fancy clothes, and in many cases a new home (this is often a liability as well) signifies that we 'have arrived'.

    i also believe that far too many of us, including myself, growing up n a commercially saturated society hv developed what i call the consumer mentality & think of $ primarily n terms of what we can spend it on, as opposed 2 investments that may or may not pay off dwn the road. of course, u hv 2 believe that u ll b alive dwn the road 2 collect f they do pay off. 1 of gastons most famous quotes was: part of every $ u earn, is urs 2 keep. un4tunately, that sagacious advice has gone largely unheeded.
     
  4. cherryblossom

    cherryblossom Banned MEMBER

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    A-hay-HAY-MEN! :bowdown:


    But, only one reply. (smh)


    Yes, most of us are guilty of these same things. As a people, we need to get out of the mindset that we can only have "for the moment."



    Excellent topic and message, Brother! :toast:


    We all need to internalize and implement this.
     
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