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    1. #1

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      Ideas Toward Financial Stability


      0 Not allowed! Not allowed!
      I was out talking to friends today and came to the topic of what we would do if we were ever rich. That isn't going to be what this thread is going to be about but I thought I'd put this on the forum for everyone to take part in and put in ideas on different tips/ways to keep money in our pockets. Everyones different way of monetary management. I figure we could all contribute different ways and bounce ideas,tips,and opinions off each other(and could also help members of the forum that aren't so good at managing thier money....which is solely their business...not asking anyone to reveal their financial situations)on ways to become more financially responsible. I'll start with:

      Needless Spending
      Revolution is the only Solution

    2. #2
      manifestdestiny's Avatar
      manifestdestiny is offline Administrator

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      In my opinion, this is a very good topic to discuss. I have a few theories that I would like to share.

      ONE
      This country is highly competitive and driven by an insatiable appetite to consume. This appetite is the root of almost every social-ecological problem known to man. So, with this understanding, our objective toward financial stability is reducing your appetite to consume.
      TWO

      It is my understanding and correct me if I am wrong, the afrikan community in America generates over 500 billion dollars annually. A small percentage of this wealth is actually directed into wealth building ventures. For example, an individual gets a well paying job and they in turn, get a mortgage, a car note, or create re-accruing debt. All of these are wealth draining ventures. Why not leave the credit industry alone all together and save or invest your money wisely to accrue wealth and not loose it.
      THREE
      Some expenses cannot be avoided: taxes, utility bills, rent, food expenses, and toiletries. The solution to this is investing into our own (legitimate social conscious) businesses to market to our community at a abrogated rate. North of Detroit there are huge Jewish communities that are thriving becus they market to their own people. Thus, keeping the wealth generated within their community. The stronger the community gets financially the stronger they will get politically. Political power effects taxes and other areas. However, this strategy takes diligence and discipline.

      RECAP

      1. Stop being greedy and materialistic
      2. Create wealth saving and building investments
      3. Invest into your community to control the economic climate.

    3. #3
      Im The Truth's Avatar
      Im The Truth is offline Organizer

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      0 Not allowed! Not allowed!
      What do you mean when you say invest? Invest is a very generic word. Please explain.

      -----------------------------------------------

      My take on this is very simply. It's something my dad told me, "Pay yourself, first." And pay yourself in cash not items! People pay everyone else first and then they wonder why they have no money. If you pay yourself first you'll learn quickly what you need to make, sacrifice, and how you think of yourself. Let's be honest sit back and think about how much you pay others and what you pay them for. Then look at why you should pay yourself. You'll work 10hrs daily just to pay someone else all your money, are they more valuable than you? Or are you more valuable then them? Are you more valuable then things? Now take the cost of your "things" vs the hours it takes to buy them you'll see how much you think of your things. Then do the same with your savings and you'll see what you think of yourself.

      For example if I buy a book that cost me $100 and I had to work 10hrs to get it then that item is worth $10 an hour ($100 / 10hrs). But if I have $50 in my savings and that took me 1 months or 300 hrs, I'm saying my savings -- what you pay yourself with -- is worth $0.17 an hour ($50 / 300hrs). Now isn't that backwards. Shouldn't the pay rate on what you pay yourself be higher, if not equal, than everything at your house. Take a look at what you believe your value to be and make that a reality.
      "If the enemy is not doing anything against you, you are not doing anything"
      -Ahmed Sékou Touré


      "speak truth, do justice, be kind and do not do evil."
      -Baba Orunmila

      "Cowardice asks the question: is it safe? Expediency asks the question: is it political? Vanity asks the question: is it popular? But conscience asks the question: is it right? And there comes a time when one must take a position that is neither safe, nor political, nor popular - but one must take it simply because it is right."
      --Dr. Martin L. King


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    4. #4
      manifestdestiny's Avatar
      manifestdestiny is offline Administrator

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      0 Not allowed! Not allowed!
      The term is only generic if you are reading too much into the word. Invest as in committing resources. Commit resources towards ventures that return wealth to the community and to the individual. For example, instead of shopping at the Chaldean owned market, grow your own produce and market it to your people at a fraction of the price. The community invests into your investment by buying ur goods. Thus, saving them money and building the community economically. The object of creating your own investments is to control the market prices. The problem is we are buying a $100 book. instead of developing a means to print our own. Lets break that down, out of that $100 dollars the author gets $30 and publishing and distribution gets an inflated cut of $70. By controlling the market or investing into our own publishing company we will cut the necessary cost to make the book affordable. $25 (printing and publishing)+ $30(Author cut)= $55. These examples are all circumstantial but the methodology is still the same.

    5. #5
      Im The Truth's Avatar
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      In both examples you used the word invest to describe investing in your own business. That's why I stated the word invest is a generic term because there are multiple ways to invest, investing in starting your own business is only one way to invest. And honestly that way to invest is impossible for most people, black or white. The reason I state this difference is because if you are going to talk about financial stability you have to clear about what can be done and what's the best option for you as a individual. While some people have the skills and/or funds to start their own biz many don't and won't. And that's why many of us aren't financially stable. We want the grand financial scheme yet won't budge at saving $4 a day which is around to $120 a month or $1,400+ a year as an investment option. Or mention getting life insurance as an investment option. Life insurance will get you buried and give your kids (or spouse) $50,000+ upon your death. So your kids (or spouse) can have a better financial outlook then you even had. Then maybe they'll have a chance to finance the grander money making ideas. It's the simply things they'll get us where we need to be financially.
      "If the enemy is not doing anything against you, you are not doing anything"
      -Ahmed Sékou Touré


      "speak truth, do justice, be kind and do not do evil."
      -Baba Orunmila

      "Cowardice asks the question: is it safe? Expediency asks the question: is it political? Vanity asks the question: is it popular? But conscience asks the question: is it right? And there comes a time when one must take a position that is neither safe, nor political, nor popular - but one must take it simply because it is right."
      --Dr. Martin L. King


      Get Involved!

    6. #6
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    7. #7
      Jalili's Avatar
      Jalili is offline Continuing the Fight

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      0 Not allowed! Not allowed!
      So many of us get caught up trying to "Get ahead" get ahead of what exactly?
      Moving up......to what?
      Overcome.......What are we trying to climb over?

      We have had those phrases beaten into our brains from day one, but when asked what we are trying to "get by" we usually have no idea what it is that we trying to pass, move away from or surpass.
      I think if we set a goal and have an idea of what we NEED and just over look what we want since wants usually are nowhere near as important as needs.

      Focus on needs and if you have everything you need and after that enough left over for an emergency than assets if what you want is what you really REALLY want.
      "We may be investigated, incarcerated or murdered for the things we dare to write...
      But we are young and Black, fearless and free...
      Every poem, every incandescent word is a personal revolution"
      Celeste "ayasha" Golden (my queen rest well and I'll see you when I get there.)
      http://awrittenlifeapoeticsoul.blogspot.com/
      http://justiseverything.blogspot.com/

    8. #8
      Elisa Keisha's Avatar
      Elisa Keisha is offline Moderator

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      0 Not allowed! Not allowed!
      Everytime i want to buy something i know its not a first need, i calculated how much of my time and energy i've spended to buy it (i even picture myself working for that time), if i value its worth it I buy it, if not, i give it a second thought.

      Quote Originally Posted by Im The Truth View Post
      What do you mean when you say invest? Invest is a very generic word. Please explain.

      -----------------------------------------------

      My take on this is very simply. It's something my dad told me, "Pay yourself, first." And pay yourself in cash not items! People pay everyone else first and then they wonder why they have no money. If you pay yourself first you'll learn quickly what you need to make, sacrifice, and how you think of yourself. Let's be honest sit back and think about how much you pay others and what you pay them for. Then look at why you should pay yourself. You'll work 10hrs daily just to pay someone else all your money, are they more valuable than you? Or are you more valuable then them? Are you more valuable then things? Now take the cost of your "things" vs the hours it takes to buy them you'll see how much you think of your things. Then do the same with your savings and you'll see what you think of yourself.

      For example if I buy a book that cost me $100 and I had to work 10hrs to get it then that item is worth $10 an hour ($100 / 10hrs). But if I have $50 in my savings and that took me 1 months or 300 hrs, I'm saying my savings -- what you pay yourself with -- is worth $0.17 an hour ($50 / 300hrs). Now isn't that backwards. Shouldn't the pay rate on what you pay yourself be higher, if not equal, than everything at your house. Take a look at what you believe your value to be and make that a reality.

      Elisa Marvena Nyarai




      SANKOFA Asociación Cultural
      www.myspace.com/sankofacultura
      http://sankofacultura.blogspot.com

    9. #9

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      0 Not allowed! Not allowed!
      Quote Originally Posted by manifestdestiny View Post
      In my opinion, this is a very good topic to discuss. I have a few theories that I would like to share.

      ONE
      This country is highly competitive and driven by an insatiable appetite to consume. This appetite is the root of almost every social-ecological problem known to man. So, with this understanding, our objective toward financial stability is reducing your appetite to consume.
      TWO

      It is my understanding and correct me if I am wrong, the afrikan community in America generates over 500 billion dollars annually. A small percentage of this wealth is actually directed into wealth building ventures. For example, an individual gets a well paying job and they in turn, get a mortgage, a car note, or create re-accruing debt. All of these are wealth draining ventures. Why not leave the credit industry alone all together and save or invest your money wisely to accrue wealth and not loose it.
      THREE
      Some expenses cannot be avoided: taxes, utility bills, rent, food expenses, and toiletries. The solution to this is investing into our own (legitimate social conscious) businesses to market to our community at a abrogated rate. North of Detroit there are huge Jewish communities that are thriving becus they market to their own people. Thus, keeping the wealth generated within their community. The stronger the community gets financially the stronger they will get politically. Political power effects taxes and other areas. However, this strategy takes diligence and discipline.

      RECAP

      1. Stop being greedy and materialistic
      2. Create wealth saving and building investments
      3. Invest into your community to control the economic climate.
      Ditto, well said!!! Each One, Teach One!
      "To uplift the Black woman is to uplift the world"- Akil

      "A revolutionary woman can't have no reactionary man. If he's not about liberation, if he's not about struggle, if he ain't about building a strong Black family, if he ain't about building a strong Black nation, then he ain't about nothing." - Assata Shakur

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