| "And I am come down to deliver them out of the hand | | | | it does, then you will begin to achieve and enjoy the |
| of the Egyptians, and to bring them up out of that land | | | | economic success that our forefathers envisioned and |
| unto a good land and a large, unto a land flowing with | | | | struggled to give us. |
| milk and honey"- Exodus 3:8 | | | | But, this can only happen if you begin today to take |
| February is significant in African-American history - It's | | | | control of your two most valuable resources- your |
| Black History Month. This year marks the 32nd year | | | | time and money. That's right, how you controlled your |
| that the month has been so recognized and the 2008 | | | | time and money accounts for where you are today. |
| Black History Month Theme "Carter G. Woodson and | | | | So why don't you begin to ensure that you are making |
| the Origins of Multiculturalism," an opportunity for | | | | the best use of both. |
| reflection on its founder. | | | | You have to appreciate that "Wealth" comes from the |
| The month-long celebration is an expansion of Negro | | | | growth of income producing assets - simply putting |
| History Week, which was established in 1926 by | | | | your money to work for you. So, if you are paying out |
| Carter G Woodson, director of the Association for the | | | | more for your assets than they are generating for you |
| Study of Negro Life and History. While Carter G. | | | | then you will find it extremely difficult to accumulate |
| Woodson was not the only person celebrating the | | | | wealth. The key to you achieving wealth is in |
| achievement of blacks, he broadened the scope of | | | | eliminating debt |
| the celebration in three significant ways: | | | | This is important for three reasons: |
| - First, he conceived of the event as a national | | | | 1. Income is not wealth. According to data from the |
| celebration and invited groups across the United | | | | Pew Charitable Trust's Economic Mobility project, a |
| States to participate. | | | | generation ago, American men in their 30s had median |
| - Secondly, he sought to appeal to both whites and | | | | annual incomes of about US$40,000. Today, men of |
| blacks and to improve race relations. | | | | the same age, make about US$35,000 a year, |
| - Finally, Woodson viewed Negro History Week as an | | | | adjusted for inflation. You are earning 12.5% less than |
| effort to demonstrate to the world that Africans and | | | | 30 years. |
| peoples of African descent had contributed to the | | | | 2. It's not your stock portfolio. The Standard & |
| advance of history. | | | | Poor's 500-stock index closed 2007 at 1468.36 up only |
| Its yearly national theme's provided scholarly and | | | | 3.5 percent for the year. When compared to the |
| popular materials as a means of undermining the idea | | | | Bureau of Labor and Statistics inflation rate of 4.3% |
| of black inferiority. And this year marks the 75th | | | | through Nov. 2007 stock market investors lost 0.8% |
| anniversary of Woodson's book "The Mis-Education of | | | | and that before taxes, fees, and commissions. |
| the Negro" which examined how African Americans, | | | | 3. It's not your real estate holdings. The Case-Schiller |
| deprived of knowledge of their history were being | | | | National home price index indicated the highest real |
| disadvantaged in grappling with racism, poverty and | | | | estate decline since 1991. Home prices dropped a |
| other problems confronting their community. | | | | record 6.7% compared to a year ago. |
| Seventy-five years later as you look at your current | | | | That is why your focus should be on improving your |
| circumstance, are you really experiencing the | | | | Net Worth - which is the real test of your Wealth. Net |
| advancement Woodson envisioned? Are you really | | | | Worth is simply the value of everything you own-your |
| exercising control over your social and economic | | | | Assets; minus your total debt-your Liabilities. Wealth = |
| well-being? Or are you still allowing outside forces to | | | | Assets - Liabilities |
| control you? | | | | The missed-education is that today's money advice on |
| After seventy-five years and billions of dollars of | | | | wealth takes the risky road of increasing wealth by |
| disposable income the "The Mis-Education of the | | | | focusing on Asset growth and not debt elimination. By |
| Negro" continues as wealth still eludes the masses. As | | | | simply paying off your debts as quickly as you could is |
| a large percentage of African-Americans still live in | | | | the safest road to increasing wealth in these uncertain |
| dehumanizing social conditions; are still ravaged by | | | | economic times. Paying off any of your 18% credit |
| crime and avoidable lifestyle diseases. Still living from | | | | cards, 7% car loans, or 6% mortgages, would have |
| paycheck to paycheck and screaming for the | | | | easily built more wealth than any of the promoted |
| government to provide some relief. | | | | methods of wealth creation. With the added benefit of |
| While others have been able to experience upward | | | | no tax, no fees and no commissions on your gains! |
| mobility, they have still not achieved their potential as | | | | Why don't you decide this "Black History Month" that |
| they struggle to avoid drowning in a sea of debt. | | | | you will change the course of your economic life by |
| Unfortunately, the solution to your problem is not the | | | | using the tried and proven way to create wealth, |
| government or others; it lies in you. "When you control | | | | getting out of debt! |
| a man's thinking you do not have to worry about his | | | | "Come now therefore, and I will send thee unto |
| actions." - Is still true today. Once you start to develop | | | | Pharaoh, that thou mayest bring forth my people the |
| and carry out a program of your own, then your social | | | | children of Israel out of Egypt".-Exodus 3:10 |
| and economic condition will start to change. And when | | | | Copyright 2009 - Glenn S. |