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The BlackProsperity Road Map: Growth-change your Thinking/Habits/Confront your Fears. Self Education- Knowledge is the key to successful wealth building. Educate-Yourself to maximize your talent. Career Planning-Plan the Career that is right for you. Discovering Your talents. Money Management-Learn How to control your money. Smart Banking-utilizing the full services of your bank. Credit-Learn how to use it to your advantage and stay out of debt. Investments-Learn about them to gain some money back. Real Estate-A good start in investing. Entrepreneurship-Owning your own business is it for you ? Retirement- Don't be fooled what you do with your money dictates what kind of life style you are going to live. Weather it's Good, Bad Or Ugly
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Forgive us our debts: continued * KNOW WHAT
YOU OWE A Pearl and
Stanley Thomas Jr. didn't know how much debt they had until Russell
started holding revivals. They didn't have credit cards but had
accumulated almost $11,000 in unpaids bills. "We wouldn't have been
able to say how much we owed if someone had offered to pay those
bills," says Pearl, 41. "Being more aware of the debt made a
difference in how we went about eliminating it." She and
Stanley, 45, both worked overtime and began by paying off their smallest
debts first. They managed to pay off about $2,000 in seven months; the
church took care of the rest. * SET UP
YOUR OWN LAYAWAY PROGRAM "When
I was growing up, we had layaway, but the money you paid went to the
purchase price, not the interest," says Russell. When it comes to
making big purchases, he suggests doing the same--open a savings account
and put away money each month until enough has accumulated to pay for the
item. * BREAK THE
CHAIN "Bishop
really promotes doing something for yourself," says Pearl, who was
inspired to start her own sewing business. She is teaching her children
sound management principles to the point that her 10-year-old daughter
chides her when she uses a debit card. "She says, `Mommy, you know
what Bishop said about using credit cards!' I have to explain that this
comes directly out of our account!" Declaration
Of Financial Empowerment From this
day forward, I declare my vigilant and lifelong commitment to financial
empowerment. I pledge the following: 1 To save
and invest 10% to 15% of my after-tax income 2 To be a
proactive and informed investor 3 To be a
disciplined and knowledgeable consumer 4 To
measure my personal wealth by net worth, not income 5 To engage
in sound budget, credit and tax management practices 6 To teach
business and financial principles to my children 7 To use a
portion of my personal wealth to strengthen my community 8 To
support the creation and growth of profitable, competitive black-owned
enterprises 9 To
maximize my earning power through a commitment to career development,
technological literacy and professional excellence 10 To
ensure that my wealth is passed on to future generations COPYRIGHT
2002 Earl G. Graves Publishing Co., Inc.
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