“Probably the most harmful of all dependencies is to rely in your highly effective oppressor to free you and share energy with you, as a result of highly effective folks by no means practice powerless folks to take their energy away from them.”
John Henrik Clarke
The above quote from one of many towering giants of Afrocentric thought, the late John Henrik Clarke, speaks to the truth of current day energy relations between Caucasians and Afrikans. Let’s amend this quote in mild of the subject of this paper, Black monetary empowerment.
“Probably the most harmful of all dependencies is to rely in your rich oppressor to free you and share wealth with you, as a result of rich folks (and nations) by no means practice poor folks (and nations) to take wealth away from them.”
John Henrik Clarke tailored by Paul Ifayomi Grant
Afrikan folks must be shocked out of our ‘waking coma’ and face the cruel realities of the world we’re in. Nobody however ourselves goes to vary our usually pitiful financial situation. This can be a fiercely aggressive world wherein completely different teams compete towards one another, while many people are locked into an individualistic fantasy; pondering that success is a purely particular person pursuit. Group identification, solidarity, belief, co-operation and accountability present the platform for people to attain financial success. For this reason Afrikans are on the backside of the financial pile wherever we dwell, regardless of the Oprahs, Bob Johnsons, athletes, entertainers and many others.
o Purchase Black (so far as doable) – test your procuring listing and see how a lot expenditure you may switch to a Black owned enterprise.
o Be taught in regards to the ‘Native multiplier Impact’ – do an online seek for the New Economics Basis the place you could find out about how one can fill the holes in our financial bucket.
o Buy groceries with a listing – 70% of purchases are spontaneous.
o Create a family price range and overview it often.
o Cease and rely to twenty earlier than making a spontaneous buy – visualise your financial institution steadiness reducing as the cash leaves your account.
o Perceive the distinction between Wealth and Earnings – excessive revenue and wealth should not essentially synonymous. A fundamental definition is that wealth = property – liabilities
o Discover out extra in regards to the idea of ‘residual revenue’
o Change mortgage supplier, utility supplier and many others. frequently to get the perfect deal – most individuals usually tend to get divorced than swap mortgage supplier
o Save for a hurricane not only a wet day
o Stability your investments between Excessive, Medium and Low threat investments – For an individual aged 35 the steadiness ought to roughly be 35 : 35 : 30. As you become older your funding steadiness ought to transfer in the direction of a larger proportion of decrease threat investments.
o Learn books, web sites and many others. that can train you about monetary literacy and financial relations between completely different teams of individuals.
o Train your youngsters about monetary literacy – arrange a (excessive curiosity) financial savings account as quickly as they’re born. Encourage them to avoid wasting most of their pocket cash. In the event you can afford it, match what they’ve saved on the finish of the yr. Talk about your family price range together with your youngsters (when they’re sufficiently old) in order that they perceive that there’s not an infinite provide of cash from the opening within the wall!
o Don’t accumulate debt shopping for depreciating property e.g. vehicles, digital tools, designer garments and many others.
o Take part in some type of collective monetary funding e.g. Pardner, ABDF Ltd (www.abdf.co.uk), credit score union and many others.
o Give cash often to good causes that empower Afrikan folks
o Bear in mind, economics is a we recreation in addition to a me recreation – i.e. teams that put money into their very own communities are economically sturdy.
o Financial charity begins Black at dwelling!
o Assume Black, Purchase Black, to get us Black on Monitor!
Beneficial studying: BluePrint for Black Energy by Amos Wilson, Black Economics by Jawanza Kunjufu, Wealthy Dad Poor Dad by Robert Kiyosaki and Sharon Lechter, Assume and Develop Wealthy a Black Alternative by Dennis Kimbro and Napoleon Hill, How Europe Underdeveloped Africa by Walter Rodney, Powernomics by Claude Anderson, http://www.moneysavingexpert.com
6242 (September 2006) Kemetic calendar