The African American community has amassed a yearly spending power of about $11 billion dollars. That’s 1/3 of what Bank of America is begging to siphon from the American taxpayers for the 2nd time! That’s about 3 times the worth of Facebook. In case it isn’t clear by now, our money carries serious weight. We have tremendous spending power.
Whilst our spending power is definitely a force to be reckoned with, our ownership power definitely needs some fine tuning. Did you know that our land ownership has actually decreased over the past century? Yikes! So, that leads to the next question:
What are we spending our money on?
Money is power. With the right habits, money accrues power, wealth, and respect IF used properly. This blog’s purpose comes into importance to help realize that proper usage because due to lack of knowledge and exposure, our money dries up quicker than a puddle of water in Iraq. Without realizing it, when spending, we transfer our money thus power and wealth over to another company.
It doesn’t matter if you make $2 a month or $20,000. We want to encourage you to increase that amount in legal, profitable platforms whether it be by 1% or 25%.
When Bill Gates and Warren Buffet made a million dollars, they re-invested it into assets. Now they’re worth billions, and they STILL maintain major wealth in assets. Now when Damon Dash and MC Hammer got a million dollars, it apparently went toward flash cars and jewelry. Hence, their unfavorable bankruptcy statuses.
Therefore, we’ll constantly harp on examples done right and examples gone wrong. Let’s encourage one another to leverage our wealth.
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