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After centuries of slavery, black people must realize that they need to work toward building generational wealth and learn to invest their money and establish Trust funds for their wealth that can be passed down to future generations.
Generally speaking, Black people are still living for the moment with a “to hell with the future” mindset when it comes to money.
Too many Black folks tend to only worry about themselves and the money that they have NOW.
That way of thinking is crippling and must STOP now.
The report is an analysis of consumer expenditure (CE) data compiled annually by the U. This information is also used for, among things, computing the Consumer Price Index. Portions of this article came from Clutch Mag online.
It is used by hundreds of Fortune 1000 corporations, leading advertising agencies, major media companies and research firms. The CE data is compiled from more than 3,000 Black households nationally through dairies and interviews.For more information call 312-408-1881, or click here to purchase online. With 6 Billion in Total Earning Power, only 1 Million Spent on Books while .4 Billion Spent on Hair and Personal Care Products and Services (November 1, 2010) African Americans consumers are cautiously increasing their spending in some key product categories, even as they continue to make adjustments in a slowly growing economy.Below is our original article posted in November 2010. The finding comes from the soon to be issued 16th annual edition of “The Buying Power of Black America” report.Founded in 2005, the World of Money is a New York City based 501(c)(3) non-profit organization whose mission is to empower youth through the engaged, local delivery of professional quality financial education. Bureau of Labor Statistics (BLS) Consumer Expenditure (CE) Survey, CNN, Harvard Business Review, By William Reed (Posted June 12, 2017) What is your view of black economic development?World of Money Founder and CEO, Sabrina Lamb, while attending a financial planning seminar, was inspired by a compelling question. Most blacks say they are tired of being slighted and disrespected; yet the majority of us ignore tried and true capitalistic practices that would improve the race’s poor economics.
White Expenditures – Demographic Data on the Black Population According to Forbes magazine, Floyd Mayweather, Jr., made more than $420 million in 2015. If you want to educate yourself and others about how to earn and spend your money responsibly, read the book, , by James Clingman. He’s also the founder of the Greater Cincinnati African American Chamber of Commerce and the nation’s most prolific writer on economic empowerment for Black people. is available through the website Amazon Kindle e-Books.