Change Your Mind and You Change Everything
Throughout my career, I have interviewed many blacks who have created healthy financial lives and many who have not. A major difference in the two groups is how they view money and how they view themselves.
A common view, but look at two responses to this.
6 Nov 2011
I’m a little disappointed in this article because it is trying to blame the victim and portray a false concept of money. Financial issues in the Black community has everything to do with limited to no access to financial resources.
The way the financial system is designed, money is to be transferred and not accumulated to keep the economy going. Right now, the rich is holding on and accumulating wealth with the sole purpose of hurting the current White House administration. Corporations are holding $1 trillion in cash instead of spending it to spur the economy and this is a known fact.
I don’t care how “financially discipline” you are, if the rich is not transferring their money back into the system, then you are not getting any money. And for Blacks, they have to make a way. So let’s not try to claim this is an “attitude adjustment” when we know Blacks are receiving and only reacting to the limited access to financial resources out there.
6 Nov 2011
From Baldmantruth TO @Dream and Hustle
Your ignorance about money is TYPICAL in the Black Community…….What you fail to understand is that the Black Community has a purchasing power approaching nearly a Trillion Dollar.
However, only 5% is spent with Black Businesses in the Black Community…..
This has nothing to do with what the Rich is doing with their money…….it has everything to do with what the Black Community is doing with their money and that is making other ethinic groups RICH.
Blacks have all the financial resources they need………what is lacking is basic knowledge in how money CIRCULATES.
Other ethnic group turn their money over MULTIPLE TIMES within their communities. For every $100 spent by an individual…….nine other individuals or businesses will have access to that same $100…..this is the CIRCULATION POWER OF MONEY that creates ECONOMIC POWER in a Community.