Almost half of Americans (47%) don’t have 400 dollars saved! Are you kidding me? If this pertains to you you have too learn how to stack your money. No matter what you are set to do with your life stacking money is vital to your financial future. You probably want to be a rapper, actor, real estate investor, business owner or etc., well guess what buddy?? You have to stack your money up!
According to a 2017 GoBankRates survey., more than half of Americans (57 percent) have less than $1,000 in their savings accounts. In order to gain anything out here learning how to manage your income is heavily vital. Without the patience and knowledge of stacking your paper you will go broke every time. I’m not here to tell you what to do with your money, but I do like seeing individuals succeed.
In conclusion, we all need to know how to build wealth. Americans are somewhat behind because we are heavy consumers. We like the feeling of instant gratification. We would rather have it today than wait for tomorrow or years down the road. Get better with your finances or fall in line with the rest with your hands out waiting on everyone in congress to give you a so called “fair shot”.
Never think it is too late to start on your dream. Don’t procrastinate too much on yourself and your true worth. When feeling down I want you to grab a pin and jot down your visionary blueprint. Don’t let the majority of others that are around you get your down and tell you your vision is bologna. Keep your distance from stragglers that are against you and keep your head up.
Being successful at what you do isn’t going to be an easy task. Keep up the good faith and learn from your mistakes. You will to through rejection and turmoil, but keep at it before you give up on yourself eternally. See life isn’t here to like you and you should understand that at the lowest level possible. When heartaches come your way due to disappointments, remember that you are the one that dictates which direction you want to go. Live free and do you. We don’t have much time. Don’t waste it on other people’s thoughts.
When it comes to dreams, majority of us like to put them on pause. Maybe you had a child and had to hang it up. Probably the dream became so big and far away you lost hope and gave it up! On another note, you probably let so many people around you tell you that it wasn’t possible and you threw it away due to low self-esteem and lack of confidence.
When it comes to your dreams you shouldn’t automatically become sleepy, tired, nor disgruntled. When it comes to your dreams you shouldn’t just end up falling asleep without working on whatever it is that completes you as a individual. Dreams doesn’t require sleep feeling sorry for yourself for giving up. They require determination! They require a strong work ethic! They require DESIRE!
See many of us in America have gotten too relaxed. Oh, I’ll just go to sleep to run away from reality. Oh, I’ll just rest my eyes before I wake up to reality, where my life is really a living tragedy. Change you! In order to be great, you have to first change you. Before you claim that your surroundings suck or your life is terrible, you have to dig deep and find yourself. See if you could get up, make a difference, and stop acting like a B*tch!
When it comes to owing money, 1 thing I hate is lending money or asking for it. I see many people fall out over situations involving money, which lead me too always say no and also tell myself no when it comes to giving our or opening my mouth to ask for it. Witness killings, arguments, and bickering fights which lead me to just handle matters in my own hands when I got behind on bills or ran out of gas money for the week by finding alternatives until I received another pay check from my employer at the time.
Owing people back is the worse feeling in the world. Also, waiting on someone to pay me back and play games when I ask for it, is the worse feeling in the world. Almost feel as if I am being betrayed because I have no support when I need it back or ask for some extra help. That’s why I keep the door closed when it comes to asking others for money. I don’t want them to ask me and I don’t want to ask them. By keeping that door closed, it helped me never having to encounter situations where I couldn’t pay someone back or feel like I am being play by not receiving money when it was time for me to get me.
This is why I fight so hard to do right with money and enhance my financial Literacy through researching and building wealth. Asking someone for cash is something I would never do in my natural born life.
Growing up in the inner city it brought many struggles. One I could vividly think of is the many lack of opportunities that comes with living in poorer inner cities. Coming from these broke populated areas, drug dealers and rappers take over the lower income community. First thing we see when we cut the tv on are “gangsters” and that’s through rap videos, convicts, dropouts, and media display. It’s not just on tv, but even outside or inside of our homes. We just don’t see daddy putting on a suit!
See, coming from these poor areas we don’t see many black successful men inside of these communities, so we majority of the time follow the bad examples. You have to think many of us in these high criminalized poor areas don’t even see our own dads as successful, so now we lack that self-confidence even more. Lack of opportunities doesn’t just reopens the cycle it keeps it going in the inner poor communities.
In order to change the cycle we have build the community and make it stronger. That’s through reaching new limits such as higher education and self-education. Giving these young black boys something to be proud of. See we lack self esteem coming from these communities, due to no food in the fridge, dead end jobs, daddy not in the home, not having the best house/car on the block, and etc., so in order to turn it around we need to educate ourselves and learn how to build wealth.
BIG Fact #1
About everybody sucks at money…….
– This means everybody shouldn’t be giving you suggestions about how to spend and what to do with your money. This is how I will explain it to you. If you grew up in poverty, it probably isn’t the best idea to take advice from anyone inside your community when they say go and buy a brand new car or a new couch from Mrs. Kelly. Live like no other now and sacrifice the urge to consumer spending, just to live like no other in the near future, while many people are still playing the famous game of Cat-Mouse.
BIG Fact #2
Getting rich to retire only takes 10 years……
– Many people will say this is false, but I have done too much research to even think any other way! There are people out there who could leave the workplace anytime of the second if they wanted too! Even if you wanted too you could still work afterwards, but it feels 110% better doing it because you want too not because you have too!
BIG Fact #3
Work is better when you don’t need the money…….
– This goes back to BIG FACT number 2! Would you love too work knowing you are already financially set? Knowing you are just adding on to your net worth and enjoy the work you do? YES, I KNOW YOU DO! Instead of dragging your feet in the morning after a long night at a job you hate, you could wake up in the morning with some dignity. With the world in your hands and your future at your fingerprints. You would be possibly clocking in because you love your career, not because you hate it!
Question 1: How would you describe Poverty?
1.) Poverty is being at the lower level and unable to get to the top or escape what I call the rate race, because many lower income poverty areas the people inside of the community are strictly in survival mode. So, it’s a continuous cycle of not being able to escape, because many don’t see a way out of the struggle or poverty.
Question 2: How much money is considered enough, when talking about yearly Income/Salary?
2.) Enough money is never enough money, because as we see, the more money, the more problems.
Question 3: What ages do you think of when you hear the word Retirement?
3.) Between the ages of 50-65 Years Old.
1. Lack of Confidence
According to Federal Safety Net (2017), “there are 9.2 Million African Americans in Poverty (22.0%)”. Now with those statistics imagine behind in the shoes of someone who lived in these environments. There’s pawn shops, liquor stores, failing black businesses, theft, robberies, murders, broken homes, and etc. Of course growing up in these conditions would give any African American in America lack of confidence. We don’t see many make it out alive and if we do they are either playing sports, rapping, or acting. On television we don’t see many black Financial Advisors teaching the youth or working for Fortune 500 coming back to preach on how to become successful. We have to establish a better lack of confidence. We all have to pick up our confidence and start being supportive of each other. I know there are many mental issues that come with staying in impoverished communities but we have to start being more positive even though we face many adversities than any other race in America.
2. Spend the Money before it Comes
This is a sad, but very true statement. African Americans that live in improvised communities already lack financial literacy. We don’t know how to manage thousands, if not hundreds of dollars at a single time. What I’ve witnessed growing up in the inner city is that a big check means splurge as fast as you can, before it’s collected quickly by the bill collector and piled up debt. Growing up, I even struggled with this because before I even knew the big check was coming I made a list or already had a spend all the money plan in motion before it even came, so on the day of I hit the stores ferociously and had no appreciated assets, only items that impressed everyone around me who couldn’t afford it, because they also shared a place with me in poverty.
3. Low Self – Esteem Issues
Coming from poverty many African Americans face self-esteem issues. We undergo stress due to our constricted environment. We are surrounded by “what ifs” & “I wish I did this”. Meaning many people who had the chance ruined it by not sticking to their plan. They let others opinions get to them, which robbed them of their dreams and even took it to the graveyard way before their known death. African – Americans that have been through poverty have been let down many times and we are the main race that bring others down, which has to change, but with a strong work-ethic and mind you too can overcome the obstacles you are in and take bigger risk to reap big rewards.
Income and net worth have two different meanings. Income is what you make Yearly, hourly, and biweekly. Just because you make more on the job doesn’t mean you are wealthy. Yes, you may be able to spend more but many who think Income is the way to wealth doesn’t know how to value their resource (money). net-worth is highly valued by the rich. They tend to not focus on how much they on the job but seek fulfillment in building their net-worth. They understand jobs don’t last forever and one way to retire with dignity they seek appreciating assets.
Many times I hear friends, family, and coworkers brag about how much they make at their jobs, but when it all falls down they don’t have anything saved to last over. This is a terrible way of handling your income and it will keep you poor forever. This mentality will never get you out of your poor habits unless you change.
When on your job instead of being happy about how much you make, ask yourself are you happy?! Ask yourself what are ways you could build your Net Worth while in your occupation of choice. You will feel way better going to work if it is something you love and you have a growing protected net worth, knowing you are building wealth. Seek opportunities while employed so you won’t have to be employed forever. Challenge yourself to think of ways to add value to your accounts instead of burdens to your wallet.
Question: Do you value income (wages) or net worth (wealth building)?
“Think about it with me”!? They don’t put the real Millionaires on TV, they only advertise the Flashy ones. The ones who buy 3,000$ suits, but the average millionaire only spends 47$ on a suit from JC Penny. They don’t show you the ones who spend 3 nights in a row at the kitchen table writing a budget, they show you the ones who just spend 100,000 on Shoes out of Lennox.
You have to understand how America programs your minds too consumerism, which is instant gratification. See if they showed you these Real Millionaires who may even stay next door too you, you will be confused and TV will lose ratings and stores would lose value. They don’t show you the ones who are trying to build a legacy, they show you the ones who have it temporarily.