Suggestions for Black Monetary Empowerment

Suggestions for Black Monetary Empowerment

“Probably the most harmful of all addictions 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 trigger powerless folks to take their energy away from them.”

John Henrik Clarke


The quote above from one of many towering giants of Afrocentric thought, the late John Henrik Clarke, speaks to the truth of present energy relations between Caucasians and Africans. Let’s modify this quote in mild of the topic of this text, Black Monetary Empowerment.

“Probably the most harmful of all addictions is to rely in your wealthy oppressor to set you free and share the wealth with you, as a result of the wealthy (and the nations) by no means prepare the poor (and the nations) to take the wealth away from them.”

John Henrik Clarke tailored by Paul Ifayomi Grant

Africans want to come back out of our “waking coma” and face the tough realities of the world during which we discover ourselves. Nobody however ourselves will change our usually pitiful financial situation. It is a fiercely aggressive world during which completely different teams compete, whereas many people are locked in an individualistic fantasy; believing that success is a purely particular person pursuit. Group id, solidarity, belief, cooperation and duty present the platform for people to attain financial success. Because of this Afrikans are on the backside of the financial pile wherever we reside, regardless of the Oprahs, Bob Johnsons, athletes, entertainers, and so forth.


o Purchase blacks (every time potential) – verify your buying listing and see what number of bills you’ll be able to switch to a black-owned enterprise.

o Find out about “the native multiplier impact” – do an online seek for the New Economics Basis the place you’ll find out find out how to fill the holes in our financial bucket.

o Store with an inventory – 70% of purchases are spontaneous.

o Create a household funds and overview it usually.

o Cease and depend to twenty earlier than making an impulse buy – visualize your financial institution steadiness shrinking as cash leaves your account.

o Perceive the distinction between wealth and revenue – excessive revenue and wealth aren’t essentially synonymous. A primary definition is that wealth = belongings – liabilities

o Be taught extra in regards to the idea of “residual revenue”

o Change mortgage supplier, utility supplier, and so forth. usually. to get the most effective deal – most individuals usually tend to divorce than to modify mortgage suppliers

o Save for a hurricane and never only a wet day

o Stability your investments between excessive, medium and low danger investments – For a 35 12 months outdated, the steadiness needs to be round 35:35:30. As you become older, your funding steadiness ought to transfer in the direction of a higher proportion of low-risk investments.

o Learn books, web sites, and so forth. that can educate you about monetary literacy and the financial relationships between completely different teams of individuals.

o Educate your kids monetary literacy – create a (excessive curiosity) financial savings account from delivery. Encourage them to avoid wasting most of their pocket cash. If you happen to can afford it, match what they’ve saved on the finish of the 12 months. Talk about your loved ones funds together with your kids (when they’re sufficiently old) in order that they perceive that there’s not a vast supply of hole-in-the-wall cash!

o Don’t accumulate debt by shopping for depreciating belongings, eg vehicles, digital gear, designer garments, and so forth.

o Taking part in some type of collective monetary funding, eg Pardner, ABDF Ltd (, credit score union, and so forth.

o Donate cash usually to good causes that empower Africans

o Keep in mind that the economic system is a sport of us in addition to a sport of me, ie teams that spend money on their very own communities are economically sturdy.

o Financial Charity Begins Black at Residence!

o Assume black, purchase black, to get us heading in the right direction!

Advisable 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,

6242 (September 2006) Kemetic Calendar