A lot of us Black Folks didn’t have discussions at the dinner table about saving and investing, so that’s why a lot of us grew up with poor financial habits. We watched our parents struggle and beg for money from auntie nem, now most of us doing the same thing. See you have to educate yourself on finances and break that chain before your kids go through the same cycle.
It’s time we stop dying and leaving our kids with nothing, meaning they have to start over left with no advantage to get ahead, leaving them to start completely over at Ground Zero.
Let’s just hope the nigga could dribble a ball, run a touchdown, or get a record deal, am I right? Oh, let’s don’t put him over here with these Business Men who actually learn about finances and investing in the Stock Market. It is time we wake up or we will forever be left behind, thinking a sport could out beat Financial Literacy.
I know times are rough, but we can still manage to put up for a rainy day and invest for retirement. We have to do better with the income we already have, because if we don’t we will just spend ferociously. Our mindsets have to change and that means through education.
Growing up in the Black lower income community we get the wrong message when it comes to building wealth and gaining ownership. I can fully vouch for those words, because I use to receive the wrong message myself before branching out and gaining Financial Literacy for myself. We fully don’t understand the concept of “ownership” and “living below our means” in order to make some financial gains, which leads us as a collective group to the concept of Blowing Money Fast.
Majority of us work like slaves to make ends meet, but still find ourselves in a financial cluster. Many of us still find ourselves digging deeper in debt with no plan to get out, which is horrible. We are quick to pay the landlord, but never think in the shoes of the landlord. We are quick to blow money on expensive denim made by non-black individuals, but we don’t think for once how to make our own denim to make a profit for ourselves. We are backwards and confused and if we don’t change we will only put our future generations in a deeper whole, just as a large vast of our ancestors left us.
In order for us to be considered as valuable to the economic world we have to change our habits with money. Bad money habits need to be put at a halt. Black people as a whole have to start having a plan with the money we earn. Start thinking as a producer instead of a consumer and you will start to develop a better concept of how money flows. Become the leader of your cash flow instead of watching it just slip out of your life. Learn how to invest, save, and manage your finances or stay broke the rest of your lives, which is no way anyone should live this one life.
“Your Finances is your Number 1 Priority” – Justin A. Starks
What ever you do in the investing world, make sure you do not speculate. If so, take only about 3 to 5 percent of your annual income and have a speculation account or what Benjamin Graham may call it a Mad Money Account. No matter the situation never cross or mingle the two.
The reason(s) I highly say don’t speculate because you are gambling your riches away. Don’t let us forget that Stock Market is already volatile and it’s important to know which investments are sound based on your judgement. Always invest in what you know and not in what CNN or every other Broker tells you.
If you are Dollar Cost Averaging, which is putting a certain amount away in the Stock Market every week, bi-weekly, or monthly no matter how the market is playing out, don’t speculate. If you must speculate, only involve what you are able to and nothing more.
Remember these keys 🔑 when it comes to investing that was written by Benjamin Graham himself:
– Speculating becomes mortally dangerous the moment you begin to take it seriously.
– You must put strict limits on what you are willing to wager.
If you start all your dollar bills, you will never have any on the bench. In order to grow your wealth you need what I call that Side Line Paper. It’s beneficial to have some paper stacked up on the side. Without that cushion you will always be in need and stressing over the fact your Paper low. Without that extra cushion which is labeled “Stash Money”, you will do anything for it like give away all of your time.
We only have one life in us. Don’t waste your time chasing money. You should do what you love and be proud of what you are doing. By having savings and sacrificing to put up, you are actually helping the future you escape the mentality of working for money. Learning how to make your money work for you through bonds, stocks, businesses, and savings is the key to Financial Greatness. That Side Line Paper is key to prospering and living a life you always imagined.
Many times while I read those who invest frequently they forget the hardships of the lower class. The struggle we are going through as a whole. They forget that most of us have to many priorities to just leave our hard earned cash in the Stock Market. We have kids, bills, minimum wage jobs, and too much BS to even lend a penny over. That’s why I am writing this article on 1 Stock at a Time.
True enough most of us struggle harder than the next, but it’s vital we still put our money to work. We have to find those cracks through our financial hardships to invest in the Stock Market, if you don’t invest or own a business your financial future will not look so bright. Though may still live comfortably, you will always give your time for little to nothing dollar signs.
Learn how to change your mental process when it comes to invest. Every time you get paid buy 1 Stock from a Company you believe will be around for 20 plus years. If you do this continuously and diverse your wealth you will have ownership and appreciation from the works of the Stock Market. That will not only help your finacial future but open many other doors/venues when it comes to investing and companies and building your net-work.
Money will never save you, you are the only person that can. Anybody on this planet could make a decent amount of money. No matter if it is 15,000 to 80,000 and up a year. It’s very imperative you know how to control the flow of you hard earned dollars.
Through managing your finances and staying true to frugal lifestyle you could potentially make your money work hard for you and change your living circumstances. This does require hard work and a strong mind frame to accomplish.
Don’t let you be the reason you aren’t up financially in the next 3, 5, 10, and even 30 years from now. Break the generational trait of being broke. It’s time to require the knowledge it takes to have infinite wealth. Learn the Stock Market today! Don’t be hesitate to ask me any question.
Stay blessed and stack it up.