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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: BISHOP
RUSSELL'S "DEBT LIQUIDATION REVIVAL" GETS MEMBERS OF HIS
CONGREGATION OUT OF DEBT. IT STARTS WITH CONTRIBUTING TO THE BOWL OF CUT
UP CREDIT CARDS THAT HE'S HOLDING. THERE'S
SOMETHING EXTRAORDINARY GOING ON AT Mount Carmel Missionary Baptist Church
in Norfolk, Virginia. Sure, there's praying, clapping of hands, and
singing of hymns. But upon the pulpit sits a jar filled with cut-up credit
cards--a testament to what makes this church unique. Because along with
paying their tithes, members of this congregation are quite faithful when
it comes to a far more secular ritual--paying off their debts. "You
can't serve both MasterCard and the Master" is Bishop C. Vernie
Russell Jr.'s mantra. Once a month, Russell, 49, leads the congregation in
a "debt liquidation revival." He selects a family to be
delivered (the decision is made through divine inspiration) and the
congregation contributes money to pay their arrears. The average gift from
a church member is from $25 to $100, though some have given as much as
$1,000. From June 2001 to August 2002, members donated $367,000 to pay the
debts of 61 families. "In
June, we raised $18,044 in 10 minutes," says Russell. "We got
two families completely out of debt and raised $6,000 toward helping the
third." The revivals will continue until every family that attends is
debt-free. While this
idea might appear novel, Russell says he was motivated by a biblical
passage from the book of Acts that describes how the early Christians
shared what they had. "No
man lacked anything," says Russell. "Those who had possessions
sold them, and the money was distributed as needed." Mount Carmel's
5,000 parishioners--a mix of blue-collar workers, military personnel, and
professionals--span the economic spectrum and similarly share their
wealth, as described in DOFE principle No. 7: to use a portion of my
personal wealth to strengthen my community. They contribute money to pay
the debts of others, despite their own bills, and donate their old cars to
deserving families rather than trading them in. Russell's
mission is as much about helping people help themselve as it is about
assisting others. He teaches parishioners basic financial planning, urging
them to close credit card accounts and pay off their smallest bills first
so they can see their accomplishments. He also focuses on DOFE principle
No. 3: to be a disciplined and knowledgeable consumer. His words
have inspired church members to tackle bill paying more aggressively.
"Before Bishop began preaching about being debt-free, we were just
sending the minimum payments," says Rita Robichaux, 52. She and her
husband, Mariano, 55, worked overtime and paid off about $2,000 on two
credit cards before the church gave them the remaining $6,000 in October
2001. "I used to spend a whole lot on things I didn't really
need," says Rita. "Now, my whole concept of spending has
changed." Every three
months, each family that is delivered must attend a seminar on staying
solvent, and there is an informal obligation to contribute at least $300
at subsequent revivals. No major purchases can be made for seven months,
and even then, items should be bought with cash--not credit. To date, all
of the families that have been "delivered" have remained
debt-free. Tithes have
increased 25% in the past year. Mount Carmel takes in more than $2 million
yearly for operation costs and fund community projects. Russell
practices what he preaches. At one time, he worked three jobs to pay
credit card debts that mounted when he was first married. He now has one
credit card, American Express, that he pays off every month. He has
written a book, Upon This Rock (Faith and Action Publisher, $11.95) that
outlines the debt liquidation program so that it can be implemented in
other churches. Here
are some of the principles he teachers: COPYRIGHT
2002 Earl G. Graves Publishing Co., Inc.
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