I would like to start this post by saying, I don't have any statistics, no hard core facts or research. This is just my observation of things going on around me every day.
If you know anything about me you know that I am a big fan of wealth building and debt freedom. I have developed this passion over the last two years and its continually growing. While I have enjoyed the process of becoming debt free myself, I have enjoyed helping people more. But one thing I have noticed over the years is that black people don't wanna get outta debt!!!
I remember last year going to a Dave Ramsey Live event and seeing over 5,000 people in attendance. I think I could count on 2 hands how many black people I saw. Now I know the economy isn't the greatest but I do remember those tickets being $10 bucks at one point in time. Heck me and my family went for free due to volunteering. There is a lot of free information out there about getting out of debt yet it seems my people don't care and this frustrates me. I was talking to my pastor about the issue and his words were "you know we don't like to pay for stuff" Thats a funny statement because I see people all the time with the latest cars, clothes, and shoes everyday.
I used to think nobody wanted the information because most of us had it all together, well over the years I learned that certainly isn't true. So what is it about our culture that can't grasp the need to not leave debt to our families? My pastor was telling me how if we didn't charge or slap Dave Ramsey on everything then maybe it would sell. I am pretty confident in my ability to teach this stuff but Dave Ramsey has a little bit better track record than I do. My passion for this stuff is serious and I just hate that people miss out due to stubbornness. Over the next year I plan to work at getting this information out to my church family. I hate not having to charge money knowing I PAID my own money to get the materials in the first place, not to mention the stuff works if you actually apply it.
There will be a time when I can stand in front of an audience and be bold enough to say "cut it out". Im working courage but seriously this is bugging the crap outta me. At any rate, im determined to make it out of the race and PROVE what can be done when you build wealth, give and save. If I eventually gotta pay for people to go through financial peace my self I will, thats just how much I care about this.
So I ask, why do you think people shy away from becoming financially stable?
9 comments:
Bottomline, we do what we see our parents and other relatives do and mimic it because it's easier.
Spending money feels good. Saving money is boring.
Power of association changes people. That was the key thing I did to acquire and build wealth. I just started going to places where wealthy people were and leverage my knowledge
Maybe you can co-ordinate a FPU at your church. Start there and do some counseling for families. Not everyone will take the advice but even if one family does that is good. Also you could look into going through his counselor training to really help other families.
Girrrl, you read my mind. I was SO shocked when I found your blog! I just had to support your blog because I saw someone that looked like me, for once! I thought I was the only black, female PFer in cyberspace, LOL.
But what I believe it comes down to is our mentality. There was a time when we couldn't achieve because of systematic racism. Now, the tides have changed a great deal (there's still racism, but it's not POLITICALLY CORRECT to be racist anymore) and we have access to education, high paying careers, exclusive neighborhoods--even a black president. We've been invited to the party now, so to speak; so we feel we must LOOK the part now.
I can go on and on about this issue...I see statistics everyday about the net worth of white vs black households and it disheartens me because although we have ACCESS to WEALTH now, we are NOT building wealth. Frustrating to say the least...
Oh wow I am soooooooooooooooo happy that you guys feel me on this!!! I thought I was alone!
Moneymonk, I agree we do what we see our parents do but when do we grow up? When I was deep in debt, finacial peace was put before me when I didn't even have the funds to PAY for it at the time. But the church (WHERE I TOOK THE CLASS ) believed in the people enough to give us a payment plan! at the time it seemed like an oxymoron but the program worked and I never once took the info for granted. There are a lotta get rich quick systems but Dave's program isn't one, heck its hard work to stay outta debt lol.
Searching for salvaltion : my pastor says he KNOWS the people in the church financial situation and he says they can't afford to pay for the class so he wants me to do free stuff. Which im not against at all, I just would rather do something that already has a PROVEN track record. But hey maybe this is an opportuntity for ME to step out and be a spokes person but everythang aint free!! lol
Young Mogul you just have to call me so we can discuss this lol I would LOVEEEEEEEE to hear anyother black womans view on this issue!!!
But yes I agree with all that you said 150%
Oh and I might add this all white church I went to paid for the fpu materials UPFRONT!!
Why black churches cant put up a dust duck is beyond me!!!
Frustration frustration frustration!!
I admire your passion and determination. One thing I have found with white, black or green is that some people just don't want to stop spending or change their saving habits. Personal finance is called that for a reason, its personal.
It can be very frustrating to sit back and watch people blowing their last dime. Or, constantly whining about money, but then doing nothing to improve their situation.
Keep it up Divine, I know you can do it!
Thanks! I know its really not a color issue but, thats what im around mostly so its all I see on a day to day basis. It affects me in every way, and id like to point out especially in dating! I appreciate the encouragement because I want to keep trying!
If you want to recommend a book to folks try Girl, Get Your Credit Straight! by Glinda Bridgforth
http://www.amazon.com/Girl-Get-Your-Credit-Straight/dp/0767926749/ref=sr_1_1?ie=UTF8&s=books&qid=1277221593&sr=8-1
She is an excellent writer and has the same fundamentals as Dave Ramsey but frames them in a different way.
Thanks I will certainly check it out!
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