Saturday, January 28, 2017

Black Folks Will ALWAYS Be Broke

...unless they learn this

You ever wonder why there aren't many wealthy black families in America? You ever see a black person with the new iPhone, New Jordans, $300 pants, $1200 red bottoms....waiting at the bus stop? At some point, my people, you have to stop being ignorant to YOUR reality. Your're busy trying to "keep up with the Joneses"...but let me let you in on a little secret....THE JONESES ARE BROKE!!!

Growing up and having an extremely diverse group of friends, associates, and colleagues, I have come to learn some amazing things about the many cultural differences and views on wealth and estate building that I've not had a black person in MY life teach me. Saddening indeed. We spend so much time trying to impress people with material things, all for what? What does another broke and flashy persons approval or validation give you when you've acquired something material? I want to make a few points in my findings and some thoughts on how we can change this cultural poverty that we have become so ignorantly blind to.

"You getting out of my house as soon as you turn 18!" How many times have you heard that? By 18, if not well before, our offspring are out in the world trying to figure it out. Getting student loans for college, credit cards, in and out of work, struggling to make ends meet. All for what? To simply continue the cycle of poverty in which they were raised. That child simply continues the cycle that you taught them! BUT, if a child in the black home is allowed to stay at home as long as possible, make a contribution to the household while learning to save along with the parent, the acquired debt from "the struggle" can simply be eliminated. How? Well through cooperative efforts and collective economics, together, the family can attain wealth and financial security. So what if so and so don't get along with cousin or uncle so and so...we work with people we don't like EVERYDAY and it doesn't stop us from getting up the next day to go get that paycheck! Think bigger than your mind have been trained to!  You see those large, beautiful homes and multiple cars Hispanics have? They got it because everyone stayed at home and pitched in so they could ALL live comfortable and build family wealth...together and in their community. We can learn something from the people we laughed at because they were "packed like sardines" in a car. Guess what? They not worried about a roof over their head and that car they are packed in is more than likely paid off. So who really gets the last laugh there?

"Have a baby and get you some child support and welfare."  WHYYYYYY? Why is this something these young black girls are told? It's ignorant and sheer stupidity. I remember being a case manager for youth at an old career and young girls telling me this is what they were taught. But, of course I had to realize that they were born into generations of like-mindedness so they knew no better. Why are we not teaching our children how much their lives will be impacted if they have children while they are still children? So, I was talking to my white friends back home in Cali, and we were discussing teenage pregnancy. One friend stated, "we were taught that if we must act on anything sexual then oral was the way to go. That way, there are no abortions or pregnancies before we were established or married."  A few of the others agreed that they were taught the same thing. I'm not saying to tell your daughter to go suck some dick but don't give up that cookie, I'm suggesting you tell her that oral sex won't get her pregnant. Lol. But a lot of you won't agree on this...but let the reality and logic soak in. Would you rather be a grandmother at 30 because your child made the same mistakes you and your mother made...or would you rather be real with your children about how much of their lives would be lost if they have a kid at 15? Just think on that...I promise you at some point, it will all make sense to you.

"I'm getting it because I really want it!" Lies we tell ourselves when we know dog on well we can't afford it. A car, house/apt, and anything else not within our means. Most times, we are trying to impress people who don't have a pot to piss in nor a window to throw it out of. Don't continue to be slaves to a system that is NOT  working for you. STOP FINANCING. STOP BORROWING. STOP USING CREDIT CARDS. If you take the same money and save and purchase something cash, you now have what is called an ASSET. You can then have something that is YOURS and no one can take it from you. If you want to upgrade to a newer car, buy a cash car, keep it for about 3 years, save the same amount you'd spend on a newer model, trade in your car and pay the difference with the funds you've saved the last 3 years. And you won't owe anything. Example. I bought a 2012 BMW 530....I kept it until 2016...I save about $500 a month in the last 3 years since I had no car note...thats &18k. I now want to upgrade and the newer 2015 model is $23k. Im going to get about $3500 for my trade in leaving me with a balance of $19,500. Because CASH runs the world, I'm going to talk them down to giving me the car for about $20k which now leaves me with a balance of $16,500. I get to go home with a newer BMW, a title of ownership, and $1500  in my pocket that I saved on the deal. Now doesn't that sound more appealing than stressing a car note and running to your window to see if the repo man is outside? This is VERY doable, patience and dedication to the cause is definitely the key.

Stop getting involved with people who don't share the same financial views or that aren't open to saving for financial wealth and freedom. We are not saving to be rich because rich is actually very poor. We save to be wealthy and build estates that we can pass down to several generations after us. It's all about mindset. These are just some prime examples of how the wealthy stay wealthy. We must become the EMPLOYER  and stop being comfortable as the  EMPLOYEE. Entrepreneurship is vital to the survival of our culture and pouring back into OUR community is key. But if we have no business owners, what do we have to pour back into? There's a ton I can go on and say in this area and many books I can share, but you have to be ready to start building. Be willing to do what other won't so that you can have what other don't! #Mindset



  1. Oooo I so agree with this!!! Good read!
    I left my parents at 18 just to dig myself into debt and learn some very hard lessons about financial maturity that I wish my parents taught me.

    In most other houses, knowledge as well as wealth is passed down, but it seems like in houses of color each generation is almost starting over. I want more for mine than what I started with. We gotta do better!

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